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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Thousands rally in Seoul to call for Yoon resignation
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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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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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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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Mapo district rolls out rice-for-bottle cap campaign
When eating out at a restaurant in Yonggang-dong, Mapo-gu, check if there is a bin or a sack collecting bottle caps. Seoul Mapo-gu Yonggang-dong community center announced Friday that it will support the region’s low-income households by exchanging recyclable bottle caps for rice. (123RF)According to the community center, last month’s trial run showed a stimulating outcome of 35,000 bottle cap collected within a month at bins placed at 50 or so participating restaurants. Every 500 bottle caps c
Social AffairsApril 15, 2016
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[Market Now] Fitch warns of weakening reform drive
Fitch Ratings, one of the three major global credit appraisers, said Friday that the outlook for Korea’s economic reforms, essential for its long-term growth, has gotten murkier after President Park Geun-hye’s ruling party lost its parliamentary majority in elections. “The South Korean government will find it more difficult to implement key structural reforms to boost long-term productivity,” said Fitch analyst Thomas Rookmaaker. In April 13 general elections, Korea’s governing Saenuri Party suf
April 15, 2016
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Hanwoo expert uses skills to source prime beef for his restaurant
Samjung Hanu Pub CEO Han Deok-woo takes his beef very seriously, doing everything from sourcing it straight from the auction house to grilling it tableside for hungry customers. “Since I bring in the beef myself, I can check, taste and look at all the cuts, and decide which ones are optimal for eating that day,” said Han, 34, on how sourcing the beef directly enables him to keep track of his beef, from the minute it arrives at the restaurant to how it is aged or served up uber-fresh. Samjung Ha
FoodApril 15, 2016
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Samsung mulls OLED production line for Apple iPhone
Samsung Display is considering building a separate production line to produce organic light-emitting diode displays exclusively for Apple’s iPhone, industry sources said Friday. The facility will start operation within the second quarter of this year to have a production capacity of 120,000 panels per month.The plan comes after a news report that the display-making unit of Samsung Electronics recently signed a contract with Apple to supply an annual 100 million OLED panels from the second quarte
TechnologyApril 15, 2016
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More real estate agencies for foreigners in Seoul
Seoul city will increase the number of real estate agencies for foreigners to 220, the city government announced Friday. Currently there are 175 real estate agencies in Seoul that are tested and certified by the city as “Global.” Among these, 131 are speak English, 29 Japanese, eight speak both English and Japanese and five speak Chinese. (123RF)These agencies are mainly clustered around Yongsan, Gangnam, Seocho, Songpa and Mapo areas, where the city’s foreign population tends to be denser. The
Expat LivingApril 15, 2016
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'Descendants of the Sun' secures 12.2 bln won worth of ad deals
"Descendants of the Sun," the just-closed sensational TV series, rewrote the history of commercial success for terrestrial networks' weeknight dramas.The KBS 2TV's mini-series secured a combined 12.2 billion won ($10.6 million) worth of advertisement deals, including virtual advertising and PPL, according to sources in the broadcasting industry.The sum is close to the show's total production cost of 13 billion won and more than double the number of MBC TV's 2014 hit drama "Pretty Woman."All 28 f
IndustryApril 15, 2016
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Korea's foreign currency deposits jump 13% in March
Foreign currency deposits at banks jumped 13 percent in March from a month earlier due mainly to increased deposits by local companies, central bank data showed Friday. Outstanding foreign currency deposits held by local residents came to $60.6 billion last month, up $7.1 billion from the previous month, according to the data compiled by the Bank of Korea. Local residents include firms and foreign nationals who have stayed in the country for more than six months. The deposit figure excludes inte
April 15, 2016
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Japan's No. 1 logistics provider dedicates cargo-handling center in Busan
Nippon Express Co., Japan's largest distribution service provider, dedicated an international logistics center in the free economic zone in the port city of Busan on Friday, paving the way for the company to strengthen its operations in Northeast Asia.The company held a ceremony with the Busan-Jinhae Free Economic Zone Authority to launch the center. Nippon Express injected 2.77 billion won ($2.4 million) into the project with work starting in August of last year. The facility has a floor area o
IndustryApril 15, 2016
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Korea, Norway to bolster cooperation in ships, Arctic region use
President Park Geun-hye and Norwegian Prime Minister Erna Solberg agreed on Friday to strengthen cooperation in building eco-friendly ships and offshore plants, Cheong Wa Dae said Friday.The two sides signed a memorandum of understanding in 2012 that calls for, among other things, cooperation in building eco-friendly ships, the presidential office said.Ships account for more than 90 percent of South Korea's exports to Norway.Bilateral trade between the two reached a record high of $7.4 billion l
InternationalApril 15, 2016
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Former U.S. official says world should seek 'interim freeze' on N.K. nukes
The international community should seek an "interim freeze" on North Korea's nuclear and missile programs as a denuclearization deal with Pyongyang will not be possible for the foreseeable future, a former senior U.S. official said Friday. During a forum on the communist regime in Seoul, Robert Einhorn, former special adviser for nonproliferation and arms control at the U.S. State Department, also said that should Pyongyang accept the freeze, the world should be prepared for "parallel talks" on
DefenseApril 15, 2016
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Korea to set up anti-terrorism headquarters
Headquarters for an anti-terrorism council will be set up when terror attacks occur in South Korea, the government said Friday, as part of its ongoing effort to strengthen the country against terrorism.Under a revised bill, the headquarters will be created under an anti-terrorism council at the Prime Minister's Office to oversee planning and management of anti-terrorism measures, an official source said.The bill will go into effect on June 4, he said.The council will be headed by the prime minis
DefenseApril 15, 2016
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Korea reports 3rd-largest trade surplus in March
South Korea attained its third-largest trade surplus in March and extended the surplus streak to 50 months, as imports again fell at a faster pace than exports, customs data showed Friday.The country's trade surplus came to $9.86 billion last month, up from a surplus of $7.07 in the previous month, according to the data from the Korea Customs Service.The March figure marked the 50th consecutive month of a trade surplus, with an 18.6-percent on-year jump from $8.34 billion a year earlier.It is al
April 15, 2016
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Court upholds 16-month jail term for lawmaker over bribery
An appeals court upheld a jail sentence passed by a lower court on a lawmaker, formerly affiliated with the main opposition party, for taking bribes from a businessman.The Seoul High Court handed down a 16-month jail term to Park Ki-choon, formerly of the Minjoo Party, for receiving some 280 million won ($243,000) from the head of a distribution agency, only known by his surname Kim, in return for business favors. The court also convicted Park of making one of his aides hide the bribes he receiv
PoliticsApril 15, 2016
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U.S. detects N. Korea's failed missile launch: Pentagon
The United States detected North Korea's failed missile launch and confirmed the latest action did not pose any threat to North America, the Defense Department said."U.S. Strategic Command (USSTRATCOM) systems detected and tracked what we assess was a failed North Korean missile launch at3:33 p.m. CDT (central daylight time)," the Pentagon said in a statement. "According to North American Aerospace Defense Command, the missile launched from North Korea did not pose a threat to North America.""Th
North KoreaApril 15, 2016
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Chilean university opens course on Korean language
Chilean university has launched a course on the study of the Korean language as learning Korean appears to be the latest craze among Chileans, the South Korean Embassy in Santiago said Thursday.The Virginio Gomez Professional Institute, affiliated with the University of Concepcion, located in Chile's second-largest city of Conceptcion, held a ceremony along with the embassy the previous day to celebrate the opening of the course.It marks the first time a Korean language course has been launched
InternationalApril 15, 2016
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Korea slams Japan's renewed claims to Dokdo
South Korea denounced Japan Friday after Tokyo issued a diplomatic report renewing the country's claims to the South's easternmost islets of Dokdo.The annual report, Diplomatic Bluebook 2016, was reported to the Cabinet with claims that Dokdo is clearly Japanese territory historically and under international law."It is beyond deplorable that the Japanese government repeated its unjustified territorial claims to Dokdo, which is our territory historically, geographically and by international law,"
InternationalApril 15, 2016
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Lawmakers vow efforts for lower mobile service fees
Lawmakers here said Friday they will continue efforts to cut mobile phone service rates in the upcoming session of the National Assembly.Last year, Rep. Woo Sang-ho of the main opposition Minjoo Party and 14 party colleagues proposed legislation on eliminating basic fees, standing at around 10,000 won ($8.60) a month.Chances are slim, however, the bill will pass the current parliament scheduled to finish at the end of May."I will first submit a bill on eliminating basic fees, returning to the Na
IndustryApril 15, 2016
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N. Korea promotes top military official to vice marshal
North Korea has promoted Gen. Ri Myong-su, chief of the military's general staff, to vice marshal, the North's media said Friday, a move designed to help its leader tighten his grip on power.The 82-year-old Ri, chief of the General Staff of the Korean People's Army, was bestowed with the title on Thursday, a joint decision made by the North's key military commissions, the Korean Central News Agency said.Early this year, Gen. Ri was promoted to the chief of the KPA's general staff to replace his
North KoreaApril 15, 2016
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Bond funds favored over stock funds for stable returns
Investors have pumped in more cash in bond funds than stock funds so far this year as they seek more stable returns, a fund rating and consulting company said Friday. Domestic bond-focused funds have seen a cash inflow of 1.37 trillion won ($1.2 billion) this year through April 12, KG Zeroin said in a statement. In contrast, investors withdrew a total of 465 billion won from their stock funds. Cash outflows from the exchange traded funds were not included in the tally, it said. Investors are inc
April 15, 2016
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Korea's jobless rate drops to 4.3% in March
South Korea's jobless rate dropped to 4.3 percent in March from the previous month's 4.9 percent, with the number of newly employed people rebounding to over 300,000 last month, a government report showed Friday.The unemployment rate for young adults also edged down to 11.8 percent last month from an all-time high of 12.5 percent in February, but the figure is the highest youth unemployment rate on record for March, the report compiled by Statistics Korea said, raising concern that the sluggish
April 15, 2016