Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Suicide attempts spike among youth in Korea
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Opposition mulls delay of financial investment income tax
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Immigration policy must go beyond labor supply: experts
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Foreign bank branches' net rises 3.5% on derivatives
Foreign bank branches in Korea posted a 3.5-percent on-year gain in their combined net profit last year aided by an increase in derivative investment gains amid a strong dollar, the financial regulator said Tuesday.For the whole of 2015, 39 foreign banks operating here reported a preliminary net income of 1.130 trillion won ($939 million) from 1.091 trillion won a year earlier, the Financial Supervisory Service (FSS) said in a statement. Financial Supervisory Service in Seoul (Yonhap)Banks headq
March 8, 2016
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Widening PX spreads bode well for local refiners
Widening paraxylene (PX) spreads stemming from firm demand and reduced supply are expected to help Korean oil refineries rack up decent earnings this year following last year's stellar performance, industry sources said Tuesday.According to the sources, PX spreads stood at $414 per ton last month, hovering above the $400 level for the first time in 18 months. Petrochemical plant in Ulsan, Korea (Yonhap)PX spreads dipped to below $300 per ton in 2014 due to supply increase amid sluggish demand, a
IndustryMarch 8, 2016
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Lotte chairman cements grip after lengthy succession feud
The prolonged family feud at Korean retail giant Lotte Group has virtually come to an end as the founder's second son and incumbent chief won shareholder support to tighten his grip on the sprawling business empire, according to company officials and observers Tuesday. Lotte chairman Shin Dong-bin has been mired in a succession battle with his elder brother, Dong-joo, who has waged a series of legal battles and negative media campaigns after being stripped of his senior posts at Tokyo-based Lott
March 8, 2016
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Hyundai, Kia spend 20 bln won in tax refunds
Hyundai Motor and its smaller affiliate Kia Motors have spent about 20 billion won ($16.7 million) to offer tax refunds to their customers who bought vehicles in January following the government's decision to extend a tax reduction on car purchases, industry sources said Tuesday.The Seoul government lowered the tax rate on new car purchases by 30 percent from August to December last year. When it expired, car sales slowed in January, which prompted the government to extend the consumption-boosti
IndustryMarch 8, 2016
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China exports slump more than a quarter in February: Customs
China's exports plunged 25.4 percent year-on-year in February to $126.1 billion, Customs said Tuesday, as the struggling manufacturing sector dragged down the world's second-largest economy.The fall was much sharper than economists expected, with the median estimate of a Bloomberg News poll predicting a drop of 14.5 percent. Imports fell for the 16th consecutive month, plunging 13.8 percent to $93.6 billion, also below expectations, with the Bloomberg survey forecasting a 12 percent slide.The tr
March 8, 2016
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Korea develops advanced GPS for car use
Korea has developed a high-accuracy global positioning system (GPS) with a 1 meter maximum error tolerance to be used for commercial transportation, the first of its kind in the world, the government announced Tuesday.The new system has enhanced accuracy with a normal error range of 20-90 centimeters. The maximum error tolerance is 1.5 meters, according to the Ministry of Land, Infrastructure and Transport.The Global Navigation Satellite System currently used in civilian vehicles or smartphones,
TechnologyMarch 8, 2016
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Government to buy 157,000 tons of rice to stabilize prices
The government said Tuesday that it will purchase an additional 157,000 tons of locally produced rice last year, as part of its effort to stabilize market prices.Under the measure approved at a Cabinet meeting, the government will spend 140 billion won ($113.6 million) to isolate 157,000 tons of rice from the market following its previous purchase of 200,000 tons in October 2015.Rice harvest at Yangyang, Gangwon Province (Yonhap)In 2015, Korea harvested a surplus amount of 3.57 million tons of r
IndustryMarch 8, 2016
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Shakespeare‘s curse-protected grave gets radar survey
LONDON (AFP) - Documentary film makers have radar scanned William Shakespeare's grave this year as Britain celebrates the 400th anniversary of the Bard’s death, Channel 4 said and the Daily Telegraph reported Monday. The grave in the Holy Trinity Church in Shakespeare's birthplace of Stratford upon Avon is a place of pilgrimage for fans and has an inscription on it with a curse against anyone planning to tamper with it. “Bleste be the man that spares these stones, And curst be he that moves my b
CultureMarch 8, 2016
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Met adds modern jewel to famed New York art scene
NEW YORK (AFP) - New York is adding to its glittering portfolio of art museums with a new gallery dedicated to modern and contemporary art -- The Met Breuer, which opens with a retrospective of a little known Indian artist. The gallery is housed in the modernist icon that Hungarian-born Bauhaus architect Marcel Breuer built in 1966 on Madison Avenue for the Whitney Museum of American Art, which last year moved downtown to a spanking new site. When the Breuer opens to the public on March 18, it w
PerformanceMarch 8, 2016
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Sequel to ‘My Sassy Girl’ to premiere in China
A sequel to Korean hit film “My Sassy Girl” will be released in Korea and China with a Chinese heroine, local film distributor said on Tuesday. Dubbed “My New Sassy Girl,” the rom-com will launch in China on April 22 and in Korea on May 5, according to Korean film distributor Little Big Pictures. The new film stars Korean rom-com star Cha Tae-hyun, who also starred in the original film 15 years ago, and Victoria of K-pop girl group f(x). Directing is Cho Geun-sik. The original “My Sassy Girl”
FilmMarch 8, 2016
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KCCI chairman urges passage of economic bills
The head of the Korea Chamber of Commerce and Industry called on the National Assembly to act on a set of economic bills before the closure of the parliamentary extraordinary session this week.“It is regrettable that the debate on pending economic bills in the Assembly has stopped,” KCCI chairman Park Yong-maan said in a meeting with a group of reporters on Monday. KCCI chief Park Yong-maan meets the press in Seoul on Monday. Among more than 10 pending bills aimed at economic revitalization and
March 8, 2016
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Seoul informs Russia of halt to trilateral project with Pyongyang
South Korea has informed Russia it is suspending a trilateral logistics project involving North Korea as part of unilateral sanctions on Pyongyang, government sources said Tuesday.The Rajin-Khasan project aims to bring Russian coal and other freight to the South via rail and sea links that connect Russia and the two Koreas. It is one of the few projects that Seoul has maintained with the North despite sanctions on most cross-border exchanges.On Monday, Seoul informed Moscow through diplomatic ch
North KoreaMarch 8, 2016
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Thailand agrees to actively enforce N.K. sanctions
Thailand has agreed to "actively" enforce the newly adopted U.N. sanctions on North Korea, Seoul's Foreign Ministry said Tuesday, noting the Southeast Asian state has shared the need for pressuring Pyongyang to abandon its nuclear program.The agreement came as South Korea's First Vice Minister Lim Sung-nam and his Thai counterpart Apichart Chinwanno held a policy consultative meeting in Chiang Mai on Monday, during which they discussed bilateral cooperation in trade, infrastructure development a
North KoreaMarch 8, 2016
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Former sex slave embarks on U.S. campaign
A former sex slave of Japan's military left for the United States on Tuesday to campaign for a proper resolution of the issue decades after the atrocity took place, a civic group said.Gil Won-wok, 89, will take part in various events in Washington and New York to raise awareness for the issue and demand its "just" resolution, according to the Korean Council for the Women Drafted for Military Sexual Slavery by Japan.She is accompanied on the trip by representatives of the council, including its c
Social AffairsMarch 8, 2016
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Emerging striker puts injury behind, ready for fresh start
With the 2016 K League Classic football season looming, Ulsan Hyundai FC forward Lee Jeong-hyeop says a devastating injury is now behind him and he's ready to contribute to his new club.Lee's solid season with Sangju Sangmu FC -- a second-division club of conscripted players -- was abruptly halted last August when he suffered broken cheekbones after jumping into the head of an opponent in a battle for the loose ball. He missed nearly two months of action.Lee completed his military service in Oct
SoccerMarch 8, 2016
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Hyundai Capital raises $500m in green bonds
Hyundai Capital said Tuesday it has raised $500 million in bonds dedicated to eco-friendly investments, in the first private-sector issue of green bonds in Korea. The debt was sold with a maturity of 5 years and was priced with a yield 150 basis points above the benchmark Treasury. Proceeds from the bond sale will be spent on investments in the hybrid and alternative fuel car projects of affiliates Hyundai Motor and Kia Motors, the company said. Green bonds, issued specifically for funding of cl
March 8, 2016
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Bob Dylan returns with new album, tour
NEW YORK (AFP) - Bob Dylan on Monday announced a new album and accompanying tour as the rock legend showed little interest in slowing down at nearly 75. Dylan said that his 37th studio album, “Fallen Angels,” would come out on May 20 -- four days before his birthday -- but revealed little else. The icon of 1960s counterculture revealed the forthcoming album only in passing as he announced a summer tour, writing on Facebook that each pair of tickets would include the CD as a bonus. “Fallen Angels
PerformanceMarch 8, 2016
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How Matt Damon may kickstart China‘s global movie ambitions
LOS ANGELES (AP) -- China has a new ally in its campaign to turn itself into a global cultural superpower: Matt Damon. And, behind him, a good chunk of Hollywood as well.Chinese leaders have long sought international cultural influence, aka "soft power," commensurate with the nation's economic might. That’s brought us official Confucian institutes scattered across the world, billions of dollars in development aid and awe-inspiring Olympic ceremonies. But China's own film industry remains a mere
FilmMarch 8, 2016
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Sequel to 'My Sassy Girl' to premiere in China
A sequel to South Korean hit film "My Sassy Girl" will be released in Korea and China with a Chinese heroine, local film distributor said on Tuesday. Dubbed "My New Sassy Girl," the rom-com will launch in China on April 22 and in Korea on May 5, according to South Korean film distributor Little Big Pictures.The new film stars Korean rom-com star Cha Tae-hyun, who also starred in the original film 15 years ago, and Victoria of K-pop girl group f(x). Directing is Cho Geun-sik rather than Kwak Jae-
FilmMarch 8, 2016
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'Pied Piper' debuts with moderate viewership
A tvN series on crisis negotiation got off to a moderate start on Monday, renewing the viewership record for the Monday-Tuesday night time slot.The pilot episode of "Pied Piper," starring actor Shin Ha-kyun as police negotiator Ju Seong-chan, drew 3.7 percent of TV viewers, data by Nielsen Korea showed. That's 0.1 percentage point higher than that of its predecessor and previous record holder "Cheese in the Trap."Ju is a corporate negotiator-turned-policeman who has seemingly mastered the art of
TelevisionMarch 8, 2016