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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How Trump blew Republican chances
As 2016 begins, Republicans confront two challenges that are as familiar as they are profound. First, they remain an essentially all-white party in an increasingly multiracial nation. Second, the party’s economic platform — cut taxes for the wealthiest and everything will somehow work out — long ago lost its purchase on public opinion. After a year or so of vigorous presidential campaigning, the party has made no progress whatsoever bringing its economic fantasy into alignment with the real worl
ViewpointsJan. 5, 2016
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Unionized Asiana workers protest against restructuring
Unionized workers at Asiana Airlines, the nation’s second-largest flag carrier, launched a sit-in protest Tuesday blasting the management’s restructuring plan that would lead to massive layoffs.The move came less than a week after the carrier unveiled the self-rescue plan to improve its financial health and survive in the overheated air transportation and services market. (Yonhap)Under the two-year plan, Asiana is set to close three international routes this year and reduce the number of branch
BusinessJan. 5, 2016
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[Newsmaker] Hanmi chief gains spotlight with stock gift
Hanmi Pharmaceutical Group founder and chairman Lim Sung-ki has found himself in the public spotlight since announcing plans to distribute a portion of his personal stocks, worth some 110 billion won ($92.5 million), as a gift of gratitude to all his employees. The country’s largest drugmaker said Monday it is distributing 900,000 shares of the chairman’s common stocks in Hanmi Science, the holding company of Hanmi Pharma, to the entire workforce. As a result, some 2,800 Hanmi employees at both
IndustryJan. 5, 2016
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[Editorial] Staying healthy
With drinking, smoking and obesity taking an increasingly heavy toll on Korean society, the government needs to step up its campaign against these health risks to reduce their socioeconomic costs. A recent study by the Health Insurance Research Institute has estimated the ill effects of these three key health risks at 23.3 trillion won ($19.8 billion) in 2013. The figure accounts for about 46 percent of the total medical bills covered by the national health insurance scheme that year. The instit
EditorialJan. 5, 2016
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[Editorial] Legislative inaction
Legislative inaction is hurting people and companies in need of help. Due to lawmakers’ failure to act, jobless people cannot receive larger unemployment benefits; struggling households have to pay higher interest rates on loans from credit businesses; and distressed companies face difficulty in getting debt relief from their creditor banks. Last year, the government proposed a graduated scheme for unemployment benefits starting this year. It planned to allow beneficiaries of employment insuranc
EditorialJan. 5, 2016
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‘Spartacus,’ ‘Romeo and Juliet’ among new season of ballet offerings
With the new year comes new beginnings, and with new beginnings comes a new season of ballet productions.From all-time classics to Korean originals and contemporary pieces, the 2016 season offers an array of revamped choreographies for local dance enthusiasts. Below are this year’s lineups from the country’s two biggest ballet companies. Korean National BalletThe Korean National Ballet company will be kicking off its 2016 season with Marius Petipa’s exotic tale of “La Bayadere,” which will be he
PerformanceJan. 5, 2016
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[Herald Interview] Jung Woo-sung encourages budding director in ‘Remember You’
For 42-year-old veteran actor Jung Woo-sung, “Remember You” is more than just another line on his filmography. He took part in the romantce-mystery as both lead actor and producer, taking on the dual role in order to “keep the personality of the director alive” in the work.Speaking at a press conference last Tuesday, Jung explained that he had initially wanted to introduce a producer to director Lee Yun-jeong. “But there were many producers who found the unique feel of this movie uncomfortable.
FilmJan. 5, 2016
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Yoon Do-hyun to hold concert in New Zealand
One of Korea’s best known rockers, Yoon Do-hyun of YB band, is holding his first solo acoustic concert in New Zealand with lead guitarist Heo Joon.At the concert Yoon will play old favorites from his career days and relay his story and passion for music, according to a news release put out by G T Entertainment, the concert organizer. Yoon Do-hyun (Official Website)YB toured in New Zealand back in 2004, and the upcoming concert is about the promise to return that he made to the fans there, Yoon s
PerformanceJan. 5, 2016
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China's stock rout may increase financial volatility: finance minister
China's sudden stock crash could increase financial volatility requiring tougher government monitoring though its impact on the local market would be limited, South Korea's top economic policymaker said Tuesday.In a meeting with leaders from the country's financial sector in Seoul, Finance Minister Choi Kyung-hwan pointed out Monday's crash and mounting geopolitical uncertainties in the Middle East are heightening concerns across the board."The market seems to be responding excessively even to r
Jan. 5, 2016
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Seoul shares rebound after China stock rout
South Korean stocks bounced back from a four-month low on Tuesday as China's stock market rout eased on hopes that authorities may take action to stem severe volatility.The local currency fell against the greenback.The benchmark Korea Composite Stock Price Index (KOSPI) added 11.77 points, or 0.61 percent, to end at 1,930.53. Trade volume was moderate at 441 million shares worth 4.09 trillion won (US$3.44 billion), with winners beating losers 463 to 349.On Monday, the KOSPI shed more than 2 perc
Jan. 5, 2016
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Labor union leader indicted over violent rallies
The leader of South Korea's second-largest umbrella labor union has been indicted on charges of leading last year's violent rallies in downtown Seoul, prosecutors said Tuesday. Han Sang-gyun, the head of the Korean Confederation of Trade Unions, is accused of orchestrating a massive anti-government protest on Nov. 14 that led to violent clashes with the police and some ten other rallies last year, the Seoul Central District Prosecutor's Office said. The labor union leader faces five charges, inc
Social AffairsJan. 5, 2016
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Defense Ministry to frontload 2016 budget to assist economic reviva
The Ministry of National Defense said Tuesday it will frontload its defense budget this year to join the government's efforts to boost the sagging economy.The ministry has set aside 12.2 trillion won ($10.2 billion) of its annual budget for early spending in the hopes that it could "boost the local economy which is facing difficulties from both the inside and outside," the ministry said in a statement. Out of the total 38.8 trillion won budget for the Defense Minister for 2016, the allocated amo
DefenseJan. 5, 2016
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Nat'l team goalkeeper joins Japanese club
National team goalkeeper Kim Seung-gyu has left his South Korean club to join a Japanese side.Vissel Kobe in the top-flight J1 League announced on their website Tuesday they've acquired the 25-year-old custodian. Kim's former K League Classic club, Ulsan Hyundai, also announced Kim's departure, saying he commanded the largest amount of transfer fee for a South Korean goalkeeper, without giving specifics.Kim had spent his entire eight-year professional career with Ulsan. He'd moved up Ulsan's you
SoccerJan. 5, 2016
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Olympic champions join state sports lottery operator's new skating club
A pair of Olympic champions have joined a new skating club launched by the state sports lottery operator, officials said Tuesday.Lee Sang-hwa, a two-time reigning Olympic gold medalist in women's 500-meter speed skating, and Park Seung-hi, who won two short track gold medals at the 2014 Sochi Winter Games before converting to speed skating, are among the 11 skaters on Sports Toto's new semi-pro club.A team official said Lee Kyou-hyuk, a six-time Olympian in men's speed skating, will be the head
More SportsJan. 5, 2016
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College students with part-time jobs to get unemployment benefits
College students who manage studying and a part-time job at the same time will become eligible for unemployment benefits from now on when they lose their job, the government said Tuesday.The Ministry of Employment and Labor said it revised the guidelines on unemployment allowances to lower the barriers for students who are enrolled in schools.Employees who work over 15 hours a week or 60 hours a month, as well as those who work less than 60 hours a month for over three months to earn a living, c
Social AffairsJan. 5, 2016
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Stock rout puts nerves on edge over China risk
Korean stocks rebounded Tuesday after Monday’s rout in Chinese shares that sparked concerns among Seoul policymakers for financial volatility. An investor looks at screens showing stock market movements at a securities company in Beijing on Jan. 5. (AFP-Yonhap)A day after Chinese stocks plunged over 7 percent, Korean market erased early losses to trade positively, while the benchmark Korea Composite Stock Price Index closed 0.61 percent higher at 1,930.53, although the Shanghai Composite Index c
Jan. 5, 2016
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Seven hedge fund firms to open in Korea
More than a dozen investment advisory firms have registered to set up hedge funds since the government eased local capital market regulations to foster the finance industry last year, according to authorities Monday. Thirteen investment advisers have registered or will register to establish a hedge fund in less than two months since the revision of the Financial Investment Services and Capital Markets Act took effect in November. With the amended law, the country eased the entry barrier of hedge
Jan. 5, 2016
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Vienna Boys Choir holding auditions in Korea
Vienna Boys Choir (Lukas Beck)The Vienna Boys Choir is holding auditions in Korea in search of local talents wishing to join the prestigious and historical ensemble, according to Credia, the choir’s local concert promoter.The announcement comes just a few weeks before the choir’s upcoming concert recitals in Korea, which are slated to be held later this month. Starting Wednesday, the Vienna Boys Choir will be accepting the first round of applications for boys aged 9 and older. Successful applica
PerformanceJan. 5, 2016
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Incheon Bridge CEO wins industrial merit
Incheon Bridge Corp. CEO Kim Soo-hong poses after being presented the Order of Industrial Service Merit at the awarding ceremony office of the Public Procurement Service in Banpo-dong, Seoul, on Dec. 29. (Incheon Bridge Corp.)Incheon Bridge Corp. CEO Kim Soo-hong received the Order of Industrial Service Merit, also known as “Gold Tower,” the country’s highest decoration for a businessperson, the company said Tuesday. Kim was awarded the Gold Tower on Dec. 29 in recognition of his contribution t
Jan. 5, 2016
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Sales ban on cigarettes in Jeju Duty Free faces opposition
The government‘s attempt to ban the sales of cigarettes in the duty-free shop of Jeju International Airport faces mounting opposition from smokers, industry sources said. “The (Finance Ministry’s) move to ban duty-free cigarettes in Jeju International Airport, while leaving out Incheon International Airport, is clearly a sneaky way of raising more tax,” said an official of I Love Smoking, the country’s largest online community of smokers. Travelers purchase duty free products at a duty free sho
IndustryJan. 5, 2016