Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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35% of S. Koreans view unification 'unnecessary'
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Man escapes DUI charges by downing bottle of soju while pulled over
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Pianist Lim Yunchan double winner at Gramophone Awards
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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Controversial cult leader’s sentence reduced to 17 years
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Samsung seeking to sell its private jets, choppers: sources
South Korean tech giant Samsung Electronics Co. is trying to sell its private planes and helicopters, industry sources said Friday, a move seen as part of Samsung Group heir apparent Lee Jae-yong's drive for efficiency amid a shakeup. The world's biggest smartphone maker is apparently in talks with Korean Air Lines Co. to sell three airplanes -- two Boeing 737s and a Bombardier 700, according to Samsung officials. It is also looking to hand over six of the seven helicopters it owns to Korea Airp
IndustrySept. 11, 2015
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S. Korean pilots leave for better working conditions
More South Korean pilots are leaving local airlines, data showed Friday, apparently for better salaries and working conditions abroad.According to the data by the transportation ministry, the number of pilots who left top flag carrier Korean Air Lines Co. during the January-July period stood at 42.This is compared with 26 pilots leaving the company in 2013 and 27 in 2014, the data showed. Pilots of Asiana Airlines Inc. who quit are also on the rise, with the figure coming to 29 during the first
IndustrySept. 11, 2015
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Overdue wages for foreign workers on the rise
The amount of overdue wages for foreigners working in South Korea has increased steadily over the last three years, a report showed Friday. Employers paid 9,378 foreign-born workers at total of 24.1 billion won ($20.3 million) late in 2012, with that number going up to 9,625 workers and 28.1 billion won in 2013 and 12,021 workers and 33.9 billion won in 2014, according to the report.Rep. Jasmine B. Lee of the ruling Saneuri Party released the report based on data the Ministry of Labor submitted
Sept. 11, 2015
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BOK holds key rate steady at record low of 1.5 pct in Sept.
As expected, South Korea's central bank on Friday left its benchmark policy rate unchanged at a record low of 1.5 percent for September as it extended its wait-and-see mode amid rising growth uncertainties and heightened volatility in the global financial market.It marks the third straight month in which the Bank of Korea has stood pat on the key interest rate following a surprise rate cut in June that was aimed at curbing the economic fallout from Middle East Respiratory Syndrome, which claimed
Sept. 11, 2015
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Seoul shares start lower ahead of U.S Fed meeting
South Korean stocks opened lower on Friday as investors remained worried about a potential rate-hike decision by the U.S. central bank.The benchmark Korea Composite Stock Price Index shed 18.51 points, or 0.94 percent, to hit 1,943.6 in the first 15 minutes of trading.Large-cap Samsung Group shares led the decline. Tech giant Samsung Electronics fell 0.35 percent and Cheil Industries, the group's de facto holding company, lost 1.18 percent.Hyundai Motor fell 0.64 percent amid on-going wage negot
Sept. 11, 2015
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Son Yeon-jae falls short of medal in ribbon, clubs at worlds
South Korean rhythmic gymnast Son Yeon-jae failed to win a medal in ribbon and clubs at the Rhythmic Gymnastics World Championships in Germany on Thursday.Son finished fifth in ribbon with 18.083 points, 0.183 point worse than her score in the qualification round.Yana Kudryavtseva of Russia won the ribbon title with 18.866 points, followed by fellow Russian Margarita Mamun with 18.850 points. Ganna Rizatdinova of Ukraine was third with 18.383 points.In the clubs, Son dropped her apparatus en rou
More SportsSept. 11, 2015
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No N. Korean cyber attacks on U.S. firms since Sony hacking: intelligence chiefs
North Korea has not carried out any cyber attacks on U.S. companies since the massive hacking of Sony Pictures Entertainment last year, top U.S. intelligence officials said Thursday."We haven't seen any offensive destructive actions directed against the U.S. corporate sector by the North Koreans since the Sony incident," National Security Agency Director Adm. Michael Rogers said during a House Intelligence Committee hearing.Asked the same question, Director of National Intelligence James Clapper
North KoreaSept. 11, 2015
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State pension fund to open office in Singapore
South Korea's state-run pension fund operator said Friday it will open an office in Singapore next week in line with its move to find more overseas investment opportunities.The National Pension Service's Singapore operation will be tasked with gathering information on investment, and it marks the NPS' third overseas operation. Similar operations in New York and London were opened in 2011 and 2012, respectively.The NPS has been seeking to jack up overseas investment with the aim to raise that por
Sept. 11, 2015
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Gov't vows to push for own labor reform bill
The government pledged Friday to push for an independent bill on labor reform after labor, management and government representatives failed to find middle ground on the issue deemed critical for raising the economy's competitiveness.Seoul had given the so-called tripartite committee until Thursday to come up with a compromise, but the three parties were not able to see eye to eye as they were divided over key issues.In an emergency press conference held in Sejong, Finance Minister Choi Kyung-hwa
PoliticsSept. 11, 2015
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U.S. unlikely to allow S. Korea to use pyroprocessing after 2021: ex-Obama adviser
The United States is unlikely to allow South Korea to use the "pyroprocessing" technology to recycle spent nuclear fuel even after a joint study is completed in2021 because the technology will make no economic sense at all for decades, a U.S. expert said Thursday.Pyroprocessing refers to a new type of technology for reprocessing spent nuclear fuel. It poses fewer proliferation risks than the conventional reprocessing technology because it does not involve producing pure plutonium that can be use
InternationalSept. 11, 2015
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Body of another victim of capsized boat found
The body of a passenger missing from a recently capsized fishing boat was recovered Thursday, raising the death toll to 11 and lowering the number of those missing to seven, coast guard officials said.The body, which was found under a bridge on Chuja Island, north of the southern resort island of Jeju, was identified as that of a 48-year-old man, surnamed Kim, according to the Korea Coast Guard.The body was transferred by helicopter to a hospital on Jeju.The 9.77-ton Dolphin capsized near Chuja
Social AffairsSept. 10, 2015
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Hotel Lotte shareholders approve IPO
Shareholders of Hotel Lotte Co., Lotte Group's hotel unit, approved Thursday the listing of its shares on the Seoul bourse, backing the retail giant's efforts to improve its governance structure. Hotel Lotte has been preparing for an initial public offering(IPO) after Lotte chairman Shin Dong-bin last month promised to improve corporate transparency by listing its affiliates and untangle the complex cross-shareholding structure. Lotte, the country's fifth-largest conglomerate, has come under gro
IndustrySept. 10, 2015
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USFK commander requests probe into media leakage of new operation plan
Commander of the United States Forces Korea (USFK) Gen. Curtis Scaparrotti has requested a joint investigation into the leakage to the media of a new military operation plan signed recently with the South Korean military, according to a parliamentary audit into Seoul's Defense Ministry."It is a fact that there has been a request (from Scaparrotti) for a joint probe," Cho Hyun-chun, the head of the Defense Security Command, said in response to a lawmaker's query on the recent media coverage of th
DefenseSept. 10, 2015
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Defense minister departs for Australia, Philippines
Defense Minister Han Min-koo departed for Australia Thursday to attend a joint meeting of the two countries' defense and foreign ministers in Sydney later this week.The so-called two-plus-two dialogue set for Friday will bring together Han, Foreign Minister Yun Byung-se and their Aussie counterparts, Kevin Andrews and Julie Bishop, in Sydney.The event marks South Korea's second biannual two-plus-two meeting with Australia, one of only two partners for the security dialogue platform. The U.S. is
DefenseSept. 10, 2015
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[Newsmaker] Apple presses deeper with new iPhones
Apple is bolstering its money-pumping iPhone line while looking to dive deep into businesses with iPads and dominate living rooms with Apple TV hardware tuned to app-loving lifestyles.Tricked-out new iPhone 6 models, along with overhauled Apple TV hardware and iPad Pro tablets with enlarged screens, were major announcements at the technology titan’s media event Wednesday in San Francisco. Apple Senior Vice President of worldwide marketing Phil Schiller talks about the new iPad Pro during an Appl
World BusinessSept. 10, 2015
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Ikea hosts HejHOME Together
Ikea will hold the HejHOME Together event at Kunsthalle in Nonhyeon-dong, southern Seoul, through Sept. 25, displaying home-furnishing solutions for families with kids. A variety of furniture and home furnishing solutions will be showcased under the themes of “doing everything together,” “doing nothing together,” “creating things together,” “rest and recharge together” and “growing a garden together.” Visitors will be encouraged to paint a picture and make flowerpots with their children. By Bae
IndustrySept. 10, 2015
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Korean refiners set for downturn on oil price drop
Faced with fluctuating oil prices that have led to a renewed drop in refining margins, South Korean oil refiners are geared for a major downturn in profits in the third quarter.An oversupply of oil coupled with slowing demands from key consumers like China have been driving down the world’s oil prices to record-lows, with the U.S. benchmark West Texas Intermediate crude hitting a six-year-low, closing below $40 a barrel on Aug. 21, amid an expected hike in stockpiles from the U.S. and the Middle
IndustrySept. 10, 2015
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Samsung launches ‘The Human Fit’
Samsung C&T launched wearable platform brand “The Human Fit” at the 2015 IFA. The Human Fit introduces fashion garments and accessories on top of smartphone applications and information technology accessories under the concept of “adding technology to style.”The products presented at the IFA included the “Smart Suit” that has an NFC tag on the wrist part of the suit instead of the conventional waist pockets; “On Bag” that charges smartphones wirelessly; bio-smart white shirt “Body Compass” that
IndustrySept. 10, 2015
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Hurom opens juice cafe in Malaysia
Juicer maker Hurom opened its first juice cafe at AEON shopping mall in the city of Malacca, Malaysia, on Aug. 22. The 21st Hurom cafe in Asia attracted more than 2,000 customers within 2 weeks of its opening. The menu consists of vegetables and fruits that are favored by locals. Many of the juice menu items are based on pear, with variations in the mixtures, such as pomegranate, lotus roots and others. The cafe also sells juicers. The company is planning to open several more in Kuala Lumpur and
IndustrySept. 10, 2015
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South Korea’s income distribution unequal: WEF report
South Korea’s economic rents are highly concentrated in a few large family-run conglomerates while its national income distribution appears to be significantly unequal, according to the latest report of the World Economic Forum. The report used the Gini index, which measures income inequality within a range of zero to 100, where a value of 100 represents perfect inequality. Korea’s post-transfer Gini index -- the income inequality rate after social security transfers have been made -- marked 30.
Social AffairsSept. 10, 2015