Most Popular
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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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Yoon warns North Korea against nuclear attack attempt
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Miss Universe Korea names 80-year-old model 'best dressed'
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Shut up and dance
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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Israel targets Palestinian group in first strike on Beirut center
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Seoul mayor suggests shift in immigration policy
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Brit pop legend Oasis to perform in Seoul next year
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[Editorial] Old tactic
President Park Geun-hye is apparently upping the ante in her hardball politics. The launch of a new anticorruption drive and the threat of legal action against local education offices over financing a free child care program are some of her latest gambits. These moves follow Park’s bitter attacks on the National Assembly – including its speaker -- and political parties over the parliament’s failure to reach a compromise on key legislation. Park’s unilateral push for the revival of state-authored
EditorialJan. 7, 2016
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[Editorial] Welfare built on sand
The Park Geun-hye administration has been reluctant to raise taxes on the corporate sector. Its policy might have been an urgent choice when it came to vitalizing the sagging economy by relieving enterprises of tax payment burdens. For households, the high-income bracket had somewhat lower taxes on property, compared to past administrations. President Park’s dovish taxation stance has caused shortage in state tax revenue, which has paradoxically clashed with her commitment three years ago to ex
EditorialJan. 7, 2016
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Teachers of institute for disabled, ex-chief jailed for abuse, embezzlement
A local court on Thursday gave jail terms to the former chief and teachers of a residential facility for disabled people on charges of abusing them and siphoning operating expenses.The Seoul Northern District Court sentenced the former chief of Seoul Ingang School, identified only by her surname Lee, to two years in prison for pocketing 1.37 billion won ($1.14 million) of subsidies given by the city government.The 64-year-old chief was indicted in August 2014 on charges of going on overseas trip
Social AffairsJan. 7, 2016
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North Korea imported $2 bln worth of luxury goods under current regime: lawmaker
North Korea imported $2.09 billion worth of luxury goods for three years under the Kim Jong-un regime despite United Nations sanctions banning the transfer of such goods to the country, a South Korean lawmaker said Thursday, citing Chinese customs data.Luxury goods, including certain kinds of jewelry, precious stones, carpets, yachts, luxury automobiles and racing cars, have been banned from transfer to North Korea under three U.N. Security Council resolutions adopted in response to the North's
North KoreaJan. 7, 2016
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Fuel surcharge for domestic flights to be lowered to zero next month
The fuel surcharge imposed on domestic flights in South Korea will be lowered to zero for the first time due to protracted low global oil prices, airline companies said Thursday.According to Korean Air Lines Co. and Asiana Airlines Inc., the country's two major flag carriers, the fuel surcharge that customers have to pay when using domestic flights will be cut to zero next month from the current 1,100 won ($0.91).It marks the first time that customers will not pay any surcharge on domestic fligh
IndustryJan. 7, 2016
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Korean toy market driven by animation success, parents’ pride
For Oh Soo-hyun, the mother of a 4-year-old boy in Seoul, last year was a nightmare.“Turning Mecard,” she said. “I’ve been searching for this everywhere, almost every single day. But even though I get it one by one, the company keeps producing different models. … It has no end.” Oh is one of many Korean parents pressured by their kids who are captivated by the hit TV animation series. The action-adventure series features dozens of minicars and main characters who control them with their mysterio
IndustryJan. 7, 2016
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KAI inks deal to jointly develop next-generation fighter with Indonesia
South Korea's sole aircraft manufacturer Korea Aerospace Industries Ltd. said Thursday that it signed a formal deal to jointly develop its next-generation fighter plane with Indonesia.The agreement reached in Jakarta between KAI and Indonesia's defense ministry calls for Jakarta to foot 20 percent of the cost in the development of the Korean Fighter Experimental program.The company also signed a second contract with its Indonesian counterpart PT Dirgantara Indonesia outlining the future division
DefenseJan. 7, 2016
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Seoul shares, currency take hit from China, North Korea woes
South Korean shares shed 1.1 percent on Thursday as investor sentiment was dented by China's stock rout and heightened geopolitical risks stemming from North Korea's nuclear test. The local currency sank to a four-month low against the U.S. currency.The benchmark Korea Composite Stock Price Index lost 21.1 points to end at a four-month low of 1,904.33. Trade volume was moderate at 388 million shares worth 4.9 trillion won ($4.08 billion), with losers beating winners 607 to 223.Analysts said the
Jan. 7, 2016
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Musical 'Turandot' comes to Seoul after critical China success
South Korean musical "Turandot" will finally begin its Seoul tour next month after receiving the Chinese stamp of approval four years ago, its producers said Thursday.The musical was jointly created by the South Korean city of Daegu and the Daegu International Musical Festival in 2010. Set in the fictional underwater world of Okakeomare, "Turandot" takes the classic opera of the same name by Giacomo Puccini and gives it a fairy tale twist.The South Korean production debuted at the 5th DIMF in 20
PerformanceJan. 7, 2016
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Park, Obama vow to cooperate for strong sanctions on North Korea
President Park Geun-hye and U.S. President Barack Obama agreed Thursday to closely cooperate to ensure that the U.N. Security Council can adopt a resolution for strong sanctions on North Korea over its hydrogen bomb test, Cheong Wa Dae said.The two leaders also shared the view that the international community must make sure that North Korea pays the corresponding price for a nuclear test, the South Korean presidential office said.The 20-minute telephone conversation came a day after North Korea
North KoreaJan. 7, 2016
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Former opposition leader to join Ahn's new party
Kim Han-gil, a former co-leader of the main opposition party, said Thursday that he will join hands with the other former co-chairman, Ahn Cheol-soo, to create a new party.Kim co-founded the New Politics Alliance for Democracy in 2014 with Rep. Ahn, who announced his departure last month. The party changed its name to the Minjoo Party of Korea last week."We have agreed that the goal of the new party is to put the livelihoods of the people first, narrow the wage gap and evenly improve the quality
PoliticsJan. 7, 2016
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U.S. likely to step up efforts to build IAMD with Seoul, Tokyo
North Korea’s latest provocation is expected to serve as a catalyst to strengthen the bilateral cooperation between the U.S. and Japan, and bring in South Korea in Washington’s efforts to build a holistic integrated air and missile defense program, or IAMD.Japan has already been a stalwart supporter of the IAMD, while South Korea has rejected the idea of the missile defense integration in consideration of its strategic partnership with China, its largest trading partner.America’s missile defense
DefenseJan. 7, 2016
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BMW beats Mercedes sales in 2015
A BMW 650i is displayed in a showroom in Korea. (Bloomberg)BMW sold the largest number of imported vehicles in Korea last year to beat its top rival and fellow German carmaker Mercedes Benz, according to figures from the Korea Automobile Importers and Distributors Association. BMW sold a total of 47,877 vehicles to nab first place, followed by Mercedes Benz, which sold 46,994 units. Volkswagen came in at third with 35,778. Its Tiguan 2.0 TDI BlueMotion was the best-selling foreign car for the ye
BusinessJan. 7, 2016
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China extends share sale restrictions as market plunges
China's market regulator Thursday extended restrictions on big shareholders selling stocks, on whom a ban had been due to expire at the end of the week, as trade was suspended in the morning following a seven percent plunge.The ban was first put into force in July as part of the government's extraordinary rescue package to stem a rout that had wiped trillions of dollars from market valuations and jolted investors worldwide.It bars sales by shareholders or senior executives who hold more than fiv
Jan. 7, 2016
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Korea sees limited growth amid falling exports, global woes: KDI
The South Korean economy is showing a slow and fragile recovery as faltering exports and rising global uncertainties weigh heavily on Asia's fourth-largest economy, despite a modest gain in domestic consumption, a state-run think tank said Thursday."Korea's domestic demand has improved gradually, but sluggish exports and mounting external uncertainties are encumbering the economic recovery," the Korea Development Institute said in its monthly evaluation of the country's economic conditions."Expo
Jan. 7, 2016
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Korea's central bank chief to attend BIS meeting
South Korea's central bank head will attend a bimonthly meeting of central bank governors from around the world, where they will exchange views on the latest financial market conditions, the Bank of Korea said Thursday.BOK Gov. Lee Ju-yeol will head to Basel, Switzerland, on Friday for the two-day meeting of the Bank for International Settlements over the weekend.BIS currently has 60 member countries, including Japan, China and the United States.The upcoming meeting will be the first of its kind
Jan. 7, 2016
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Gov't tobacco tax revenue jumps 51.4% on price hike
South Korea's tobacco tax revenue shot up more than 50 percent in 2015 from a year earlier on a spike in cigarette prices, despite weaker sales, the finance ministry said Thursday.The cigarette tax revenue reached 10.5 trillion won ($8.7 billion) last year, up 51.4 percent from 7 trillion won tallied a year ago, according to the Ministry of Strategy and Finance.Seoul marked up taxes levied on cigarettes by 2,000 won, starting in January last year, to raise the price to 4,500 won per pack, citing
Jan. 7, 2016
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Korea lags Japan in attracting tourists
Travelers are seen at Narita Airport. (Bloomberg)TOKYO – For the first time in almost half a century, more foreign visitors are expected to have entered Japan than Japanese people who visited abroad, local news reports said Thursday.In 2015, more than 19 million foreign tourists visited Japan, according to unrevised data from Japan’s office of tourism. The figure reflects a 40 percent increase from 2014. Transport and Tourism Minister Ishii Keiichi said “polici
BusinessJan. 7, 2016
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Park, Obama agree to closely work together to adopt strong U.N. sanctions against North
South Korean President Park Geun-hye and U.S. counterpart Barack Obama agreed to work closely together to adopt strong U.N. sanctions against North Korea’s latest nuclear provocation in their telephone conversation Thursday morning, Cheong Wa Dae said.The two leaders shared the gravity of Pyongyang’s fourth nuclear test and the need for stern countermeasures in the phone call that was made at 09:55 a.m. and lasted for about 20 minutes, the presidential office said.Obama reportedly said the North
Foreign AffairsJan. 7, 2016
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What would Washington’s ‘extended deterrence’ entail?
Defense ministers of South Korea and the U.S. held talks over North Korea’s latest nuclear test late Wednesday night, during which the U.S. side reaffirmed its commitment to the defense of the peninsula including through its extended deterrence.Observers said the extended deterrence would entail deployment of U.S. strategic assets to the Korean Peninsula. They include B-2 and B-52 strategic bombers, F-22 Raptor or aircraft carrier, all of which pose serious threats to North Korea.The two sides
DefenseJan. 7, 2016