Most Popular
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Korea to face another massive shortfall in tax revenue
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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[Photo news] Faker Mercedes
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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Chaebol investing in K-pop industry
Korean chaebol -- family-controlled conglomerates -- are rushing to capitalize on K-pop which is steadily gaining global popularity. One example is LS Group. Koo Bon-woong, the grandson of late LG Cable & System honorary chairman Koo Tae-hoe and eldest son of LS-Nikko Copper chairman Koo Ja-hong, recently invested in a new K-pop related Korean venture firm called My Music Taste. Formation 8 cofounder Koo Bon-woongThe younger Koo is already well-know
IndustryMay 24, 2016
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Saenuri bigwigs flock to serve in foreign affairs committee
The ruling Saenuri Party’s factional leaders have chosen to serve in a parliamentary committee on foreign affairs and inter-Korea relations in the upcoming National Assembly, a move seen to solidify their positions as presidential candidates. The Saenuri Party’s former leader Rep. Kim Moo-sung and former Financial Minister Choi Kyung-hwan have applied for positions at the Foreign Affairs and Unification Committee, according to party sources Tuesday. Kim leads the faction that challenges loyalist
PoliticsMay 24, 2016
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Gender war intensifies amid mourning for murder victim
On Sunday afternoon, hundreds of people gathered to mourn the death of a 23-year-old woman outside exit 10 of Gangnam Station, leaving post-it messages, flowers and wiping their tears. But the peaceful mourning was soon disturbed by the arrival of a group of men with their faces covered. They held up placards that read: “Not all men are potential criminals” and “Only those (who) commit crimes are bad.” Enraged by the placards and by some of the men who attempted to take post-it memos off the wa
Social AffairsMay 24, 2016
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Calls grow to probe other sterilizer makers
Toxic humidifier sterilizer victims who used products distributed by local brand Aekyung -- manufactured by SK Chemicals -- have demanded that the firm be included in the ongoing prosecutorial probe.The victims accused Aekyung of selling its products despite the health concerns. According to tallies, a total of 27 died allegedly from using Aekyung’s products and 101 suffered damage to their health. However, up to this point none of them have received compensation from the company. In 2011, the g
Social AffairsMay 24, 2016
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Korea seeks military ties with African countries
South Korea’s Defense Ministry said Tuesday it will seek military cooperation with African countries during President Park Geun-hye’s upcoming visit to the continent.Boosting relations with Uganda, in particular, is expected to further pressure North Korea, which has had long-standing ties with the African country and is currently under U.N.-led economic sanctions as punitive actions for its nuclear and ballistic missile programs.In a press briefing, ministry spokesman Moon Sang-kyun said that V
DefenseMay 24, 2016
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Blue House considers veto of hearing bill
The government and ruling party stepped up their moves to dissect and deter an eleventh-hour bill that will allow parliamentary committees to call for public hearings on a wider range of issues.While Cheong Wa Dae pondered whether to exercise the presidential veto, the ruling conservative Saenuri Party claimed Tuesday that the given bill would lose effect upon the end of the current parliamentary term if it fails to be supported by the government.“We will thoroughly review the possible negative
PoliticsMay 24, 2016
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[Market Now] Re-auction of KDB Capital fails
The state-run Korea Development Bank has once again failed to sell its subsidiary KDB Capital. KDB said in a statement that only one bidder participated in the final bidding for KDB Capital that closed at noon Tuesday, which did not result in a binding competition. Korea Development Bank headquarters (Yonhap)In the preliminary bidding in March, U.S. private equity giant Carlyle, a private equity firm set up by SK Securities and a non-financial company based in Korea were selected as the three su
May 24, 2016
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Prosecutors raid 8 construction material firms over price-rigging
Korean prosecutors on Tuesday raided the offices of eight local firms that manufacture construction materials to determine if they rigged prices of their products.The move aims to determine if companies deliberately fixed prices that distorted the free market and hurt other firms and consumers that used their products.Investigators raided offices of the firms and homes of senior executives, and confiscated documents and other materials, which they think will help determine the validity of the pr
Social AffairsMay 24, 2016
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Korean street dancer snatches ticket to 'World of Dance' competition
Korean singer and contemporary dancer Nam Hyun-joon, better known by his stage name Poppin' Hyun Joon, has secured a ticket to a global dancing competition in the United States, his agency said on Tuesday.The 37-year-old dancer, famous for his popping techniques, and his teammates won second place in the preliminary competition in Korea on Saturday, according to his management company Happy Face Entertainment.In Korea, Nam is considered to be one of the first-generation K-pop street dancers, alo
PeopleMay 24, 2016
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PM returns from overseas trip
Prime Minister Hwang Kyo-ahn returned from his overseas trip to Uzbekistan, Saudi Arabia and Turkey on Tuesday, after expanding Seoul's diplomatic ties and fostering business opportunities for local firms.During his trip, Hwang met Uzbekistan Prime Minister Shavkat Mirziyoyev and agreed to expand economic cooperation between Seoul and Tashkent. It marked the first time in eight years for a Korean prime minister to visit the Central Asian country. He also visited Saudi Arabia in an apparent bid t
Diplomatic CircuitMay 24, 2016
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Hyundai pushes to extend Ioniq Electric's range to 400 km by 2020
Hyundai Motor Co., Korea's top automaker, has been stepping up collaboration with leading battery makers to extend its electric vehicle's driving range to 400 kilometers on a single charge by 2020, company officials said Tuesday. Hyundai is set to officially launch the Ioniq Electric next month, which topped the nation's fuel economy test with a 191 km range on a single charge earlier in the day. Hyundai Motor's new electric vehicle model, the Ioniq Electric (Yonhap)Its range was evaluated at 20
IndustryMay 24, 2016
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N. Korea uses women on TV to push forward anti-smoking campaign
North Korea has cast women in a TV program to push forward an anti-smoking campaign, Pyongyang observers here said Tuesday.North Korea's Central TV Station aired a 40-minute-long public service announcement program on Friday titled "The Extra Quality Favorite Item Threatening Life," North Korea watchers said.In the video, a narrator from the TV station explained about the dangers of smoking, saying, "Today, our North Korean women do not smoke at all, so we have met many women to hear various opi
North KoreaMay 24, 2016
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Hyundai Merchant Marine’s fate in hands of chartered fleet owners
Creditor banks of Hyundai Merchant Marine were widely likely to approve a 760 billion won ($638 million) debt relief plan Tuesday, but even if they do throw a lifeline to the ailing shipping line, its fate will still remain in the hands of foreign ship owners from whom the firm leases fleet. The Korea Development Bank and eight other creditor institutions were set to vote on a debt-equity swap proposal, which would turn more than 700 billion won of their loans into the company’s stocks, on condi
IndustryMay 24, 2016
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E-Land Group seeking to sell Teenie Weenie
The E-Land Group is considering selling one of its womenswear brands in the face of heavy debt and falling credit ratings, the group said Tuesday.The brand up for sale is Teenie Weenie, a womenswear brand affiliated with E-Land International Fashion Shanghai Co., owned by the group‘s Chinese arm. The brand broke into the Chinese market in 2004, and became the first Korean brand in China to reach 500 billion won ($419.5 million) in annual sales last year.Since Teenie Weenie is a major part of E-L
IndustryMay 24, 2016
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Philips aims to be Korea’s top ‘healthtech’ company
Philips Korea is looking to take the lead in bridging health care with advanced technology to offer local customers the most efficient and cost-effective services, its chief executive said Tuesday.“Digitalization is the key to redesigning health care to best benefit Korean society,” Philips Korea CEO Dominique Oh said during a press conference in Seoul on Tuesday to mark the company’s 40th anniversary.Philips Korea CEO Dominique Oh speaks during a press conference at the Westin Chosun Seoul on T
IndustryMay 24, 2016
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Hermes logs high sales growth despite market recession
Despite the prolonged market slump, French luxury house Hermes has been enjoying a stellar sales growth in South Korea over the years, thanks to a growing number of consumers seeking not just luxury but also exclusivity.The annual sales of a Hermes store operating at a local department store chain surged around 25-30 percent a year since 2012, according to industry sources. The figure is exceptional compared to other luxury houses that have been suffering from slowing growth in the face of a sta
IndustryMay 24, 2016
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Korean envoy receives award from Rome
Korean Ambassador to Italy Lee Yong-joon on Monday received a Premio Simpatia 2016 award from the Rome city government for his contributions to disseminating Korean culture in the European country.Lee is the first Korean diplomat to receive the award in the ceremony held at the city hall. He was honored for his contributions to spreading Korean culture among Italians since his appointment as ambassador to Rome in May last year.Lee successfully operated the Korean Pavilion at the 2015 Milan Expo,
Diplomatic CircuitMay 24, 2016
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Seoul shares dip to 3-month low on looming Fed rate hike
Korean stocks closed 0.9 percent lower Tuesday as concerns about a potential U.S. rate hike weighed on market sentiment here. The local currency sharply fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) dropped 17.57 points to 1,937.68, the lowest since late February. A total of 511 million shares were traded, worth 4.9 trillion won ($4.2 billion), with losers outnumbering gainers 582 to 247. (Yonhap)Foreigners and institutional investors sold a net 120 billion
May 24, 2016
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A dark twist to a not-so-fairy tale
Hailed as one of the U.K.’s most popular and successful choreographers and directors, Matthew Bourne will premiere his critically acclaimed “gothic romance” dance reinterpretation of the classic fairy tale “Sleeping Beauty,” at the LG Arts Center in Seoul next month. The ballet rendition of the fairy tale was first created by the legendary Marius Petipa in 1890 and the work has since become one of the most famous ballets in classical repertoire. Combining dance, cabaret and circus elements with
PerformanceMay 24, 2016
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Bones found under toilet remain mystery
A skeleton unearthed last month at a factory restroom in Incheon has yet to be identified, raising concerns the case will go unsolved. The National Forensic Service reported to police on Monday that tests on the bones had proved unsuccessful after they found no DNA matches on the existing database. The skeleton was discovered on April 28, buried 40 centimeters below the concrete floor of a toilet on factory premises in Cheoncheon-dong, Incheon. This is a stock image. (123RF)It was impossible to
Social AffairsMay 24, 2016