Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Same-sex couple denied insurance clearance despite landmark ruling
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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Korea's first global webtoon festival lights up Seongsu-dong
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Top officials of S. Korea, Japan, China vow joint efforts to ensure financial stability
Top financial officials and central bank governors from South Korea, Japan and China agreed Tuesday to make joint efforts in battling economic and financial uncertainties at both the national and regional levels. The agreement came at a three-way meeting of the countries' finance ministers and central bank governors held in Frankfurt, Germany, where the top financial and monetary policymakers were attending the annual meeting of the Asian Development Bank. Korean Finance Minister Yoo Il-ho (le
May 3, 2016
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Ex-commerce minister nominated to lead PyeongChang Olympics organizing committee
Former Commerce Minister Lee Hee-beom has been nominated to lead preparations for the 2018 PyeongChang Winter Olympics, the event's organizers said Tuesday.The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games (POCOG) announced it listened to a wide range of opinions before tapping Lee to fill the vacancy at the top. Commerce Minister Lee Hee-beom (Yonhap)Lee, 67, is in line to replace Hanjin Group Chairman Cho Yang-ho, who resigned earlier Tuesday. Cho cited t
May 3, 2016
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Saenuri elects neutral as new floor leader
The ruling Saenuri Party elected Chung Jin-suk, a journalist-turned-politican, as its floor leader on Tuesday. The new floor leader will be responsible for spearheading the party’s legislative drive in the upcoming National Assembly against the opposition parties that have combined majority seats.Lawmaker-elect Chung Jin-suk beat Rep. Na Kyung-won and Rep. Yoo Ki-joon, 69 to 43 and 9, respectively, in the vote of 119 attending party members. His running mate Rep. Kim Kwang-lim will become the ch
PoliticsMay 3, 2016
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Park lauds enhanced Iran ties
TEHRAN -- Rounding off her historic three-day visit to the recently sanction-freed Iran, President Park Geun-hye on Tuesday praised the renewed bilateral partnership of the two states, highlighting the high economic yields expected in the infrastructure sector.She also expressed hopes that such productive ties may be expanded to underdeveloped fields, such as medical care, culture and information technology.“The outstanding construction technology of Korean companies, when combined with Iran’s m
PoliticsMay 3, 2016
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[Newsmaker] Elusive bitcoin founder a reluctant identity
Secretive Australian entrepreneur Craig Wright, who has revealed himself as the creator of the virtual Bitcoin currency, is an elusive individual who appears to have covered his tracks well.Details are scant on the Brisbane-born computer scientist, 45, who has a blog but warns against any of the content being published without his permission. He admitted on Monday to being the creator of the cryptocurrency after months of speculation about his role, providing technical “proof” amid debate over w
World NewsMay 3, 2016
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[Graphic News] Number of illegal residents surges in Jeju
With the rising number of foreign visitors to Jejudo Island, the number of illegal residents in the southern resort is also surging, statistics showed Tuesday.In recent years, nearly 3 million foreigners have visited the island each year, with 85.3 percent of them being Chinese who can enter without a visa, as of 2015.The number of illegal immigrants in Jejudo has rapidly increased from 282 in 2011 to 371 in 2012, 731 in 2013, 1,450 in 2014 and 4,353 in 2015, according to the Justice Ministry.Wi
Social AffairsMay 3, 2016
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[Kim Seong-kon] Living in the age of ‘difference’ and ‘crossover’
Since the 1960s, literary critics have preached the importance of “difference” and “crossover.” Inspired by postmodernism, they have urged us to respect differences and to be open to crossovers in every sphere of our lives.As a result, people all over the world now value cultural differences and ethnic diversity, abandoning the either/or mentality and embracing a both/and way of thinking. As postmodern perceptions spread, the world is changing rapidly and radically. Alas! Only Korea seems to hav
ViewpointsMay 3, 2016
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[Lee Jae-min] Intervention or non-intervention
In the time of a national economic emergency, governments are inclined to take extraordinary measures to save the national economy. Situations could require drastic steps and direct intervention by agencies. A responsible government would probably see it as discharging its official duty. As the failing shipbuilding industry puts a new question mark over the prospect of the nation’s economic recovery, the government is scrambling to arrange debt restructuring for these companies through governmen
ViewpointsMay 3, 2016
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[Editorial] Foreign residents
Justice Ministry data showed early this week that the number of foreign nationals in South Korea, including tourists, has topped 1.9 million for the first time, heralding the upcoming era of 2 million foreigners.The figure of 1.94 million foreign nationals far surpasses the population of Daejeon, which is estimated at 1.51 million. It is also close to that of South Chungcheong Province, whose population is 2.07 million.Considering that Daejeon is the nation’s fifth-largest city and South Chungch
EditorialMay 3, 2016
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[Editorial]Car sale crisis
Hyundai Motor Group has suffered a rapid drop in car sales in China so far this year, although the market has been the most lucrative revenue source for the second-largest South Korean conglomerate.Hyundai Motor posted 229,011 units in Chinese sales during the first quarter, down 18.2 percent over the same period last year. Its sister firm Kia Motors reported a 10.4 percent decline by selling 138,292 units.Amid the slump, a report from a global consulting firm is frustrating Hyundai-Kia, which i
EditorialMay 3, 2016
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Upper half of dismembered body found in Daebudo
The upper half of a body matching a lower half found on Sunday was discovered on Gyeonggi Province’s Daebudo Island on Tuesday. On Sunday, a tourist had discovered the severed lower-half of a male body in a trench, naked except for the blanket and the gunny sack in which it was wrapped. (Yonhap)More than 900 police had searched the area with drones and boats, finally finding the upper half of the body in a gunny sack. The Ansan Danwon police, which is in charge of the case, said the victim’s fa
Social AffairsMay 3, 2016
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Japanese student sues Korean cosmetic surgeon
A Japanese high school student has sued a Korean cosmetic surgeon for using photos of her taken before and after her surgery without her permission. The student, aged 18, had suffered an extreme case of depression due to dissatisfaction with her looks. She had even attempted suicide. (123RF)In 2014, while attending a school in North America, she briefly visited Busan, Korea, accompanied by her parents for nose and eye cosmetic surgeries. They left the country after explicitly asking the hospit
Social AffairsMay 3, 2016
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Hong Kong billionaire to push Korean cosmetics in China
Adrian Cheng, 37-year-old scion of the world’s largest jewelry retailer, said he will use his company’s extensive retail network in mainland China to help boost domestic sales of Korean cosmetic products.The grandson of Hong Kong’s billionaire tycoon Cheng Yu-tung, who founded business group Chow Tai Fook Enterprise, decided last year to invest 18 billion won ($16 million) in Korean firm It’s Skin via the group’s subsidiary New World Development Company, where he serves as executive vice chairma
IndustryMay 3, 2016
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Fading fortunes of female chiefs at Hyundai Merchant, Hanjin Shipping
Money-losing Hyundai Merchant Marine and Hanjin Shipping have recently filed for creditor-led rehabilitation programs. There is another thing in common between the two shipping giants. They were led by female leaders, who suddenly transformed into chairwomen from housewives after the deaths of their husbands. Hyundai Group chairwoman Hyun Jeong-eun, 61, who stepped down from the HMM board of directors in March, began to run the conglomerate in 2003 when her husband Chung Mong-hun -- fifth son of
IndustryMay 3, 2016
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PM urges readiness against N. Korea's possible provocations
Prime Minister Hwang Kyo-ahn on Tuesday urged the military to beef up readiness against possible North Korean provocations amid speculation that the regime could carry out another nuclear test later this week."The military should thoroughly be ready for any kind of North Korean provocation to ensure the safety of the people," Hwang said during a Cabinet meeting in Seoul.The remarks come as the North may opt to detonate its fifth nuclear weapon or launch a missile ahead of the country's rare ruli
DefenseMay 3, 2016
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ACRC to address ‘corruption' in public firms
The Anti-Corruption and Civil Rights Commission has agreed with six state-run organizations to review their bylaws and amend what it views as “corruption-prone factors,” officials said Tuesday.The state-run anticorruption body on Monday concluded a memorandum of understanding with the Korea Land & Housing Corporation, Korea Rural Community Cooperation, Korea Gas Corporation, Korea Airports Corporation, Small Enterprise and Market Service and Social Security Information Service. “The purpose of t
Social AffairsMay 3, 2016
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Oxy RB sales halve as boycott expands
Amid an escalating boycott nationwide, sales of Oxy Reckitt Benckiser, the maker of a harmful humidifier sterilizer, have plummeted by half from a year ago, local retailers said Tuesday.According to data compiled by supermarket chains here, the sales of dehumidifiers and bleachers manufactured and marketed by the firm plunged 53 percent and 38 percent respectively for the April 18-May 1 period compared to the same period last year.Oxy Reckitt Benckiser products on sale (Yonhap)The household good
IndustryMay 3, 2016
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[Kim Haeng-jung] A family month present
On April 16, something unusual happened at our farmhouse, marking a milestone in our rural life since we started farming and gardening about 10 years ago. My wife and I held an unveiling ceremony of stone toads in commemoration of a short fairy tale I wrote.The ceremony was attended by our grandkids and their parents. Prior to the unveiling, I briefly mentioned that the love of my grandkids motivated this writing, and thanked them. And I said that it was only a beginning and that there would be
ViewpointsMay 3, 2016
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Coway’s net profit rises in first quarter
Korea’s water purifier maker and distributer Coway Co. said its net profit jumped 22.7 percent to mark 95.2 billion won ($83.6 million) in the first quarter from a year earlier.In a public filing, the company said its sales rose 13.8 percent to 623.6 billion won and operating profit increased 23.2 percent to 123.5 billion won in the first quarter year-on-year.Local private equity MBK Partners, which owns 30.9 percent stake in Coway, put the company up for sale in August last year and selected Go
May 3, 2016
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Mexico’s faltering fight against corruption
Corruption in Mexico is not just a legal and moral problem. It is an economic one. The annual cost amounts to 5 percent of gross domestic product, according to one report, which also found that almost half of business owners said officials have sought money in exchange for contracts or business opportunities. Worse, those who are caught have rarely been punished: Only 1.5 percent of corruption cases lodged in Mexico end in conviction. In Singapore, in contrast, the share is 80 percent. In fact,
ViewpointsMay 3, 2016