Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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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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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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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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[Photo News] SK chairman visits SK hynix headquarters
SK CHIEF VISITS SK HYNIX -- SK Group chairman Chey Tae-won (second from left) visits the SK hynix headquarters in Icheon, Gyeonggi Province on Wednesday. The conglomerate is reportedly mulling plans to invest about 46 trillion won ($38 billion) over the next few years to expand the production facilities of its chip producing unit. (SK Group)
IndustryAug. 19, 2015
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Naver envisions ‘Smart Gangwon’
Naver, the largest Web portal operator in South Korea, said Wednesday it would put in great efforts to transform Gangwon Province into an innovation hub. Holding an event to mark the 100th day of its Creative Economy and Innovation Center, a start-up incubator, in the province Tuesday, Naver vowed to utilize state-of-the-art information and communications technology to grow small and medium-sized businesses in the region and help local enterprises overcome challenges caused by the geological hur
TechnologyAug. 19, 2015
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[Photo News] S-Oil aids disabled students
S-OIL AIDS DISABLED — S-Oil senior vice president Lee Chang-jae (left) delivers a customized study aid to a disabled student at the Gyeonggi Assistive Technology Research Assistance Center in Suwon, Gyeonggi Province, Wednesday. The firm handed over equipment worth 100 million won ($92,800) to 42 low-income disabled students on the same day, continuing its efforts to help disabled youths since 2010. (S-Oil)
IndustryAug. 19, 2015
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Workout with professional trainers at JW Marriott Seoul
It’s hot, it’s humid and you find yourself too tired after work to even head out to the gym and run a few laps on a treadmill to refresh your mind and body.When lacking self-motivation and self-esteem in the summer, maybe it is time to try exercising with a professional to guide and push you, and help you regain your confidence.Working out with a personal trainer is obviously more expensive than doing it yourself at a fitness center in your neighborhood. But trainers can not only provide health
CultureAug. 19, 2015
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S. Korea, Ecuador set to launch FTA talks
South Korea and Ecuador will announce the start of negotiations for a bilateral free trade agreement next week, the Seoul government said Wednesday.The announcement will be made Tuesday at a meeting of the countries' trade ministers in Seoul, according to the Ministry of Trade, Industry and Energy.The declaration of the start of FTA talks comes nearly two years after the countries concluded a joint feasibility study in June 2013."Ecuador is expected to become a gateway for our companies to the l
Aug. 19, 2015
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[Graphic News] Korea moves up in entrepreneurship index, but still low in OECD
Korea’s overall entrepreneurship mentality improved this year, but still fell behind most member countries of the Organization for Economic Cooperation and Development, according to a report.The Global Entrepreneurship Development Institute said in its annual report that Korea ranked 28th among 130 countries with 54.1 in its Global Entrepreneurship Index, or GEI. It was up four slots from 2014.GEI measures a country’s overall attitude and conditions for business practices, including the people’s
Aug. 19, 2015
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China facing 'more severe' trade situation: commerce ministry
China's commerce ministry said Wednesday that the country is facing a "more severe situation" in its foreign trade for the rest of this year, fanning concerns that Beijing could devalue its yuan currency further after a surprise cut last week. "For the second-half of this year, China's foreign trade situation will face more severity than we expected," China's commerce ministry spokesman Shen Danyang told reporters during a regular press briefing. Shen said the Chinese economy is also facing "a l
InternationalAug. 19, 2015
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Top court sentences city councilor to life imprisonment for contract killing
The top court Wednesday sentenced a member of the Seoul municipal council to life in prison for abetting the murder of a wealthy businessman to whom he owed hundreds of thousands of dollars.Upholding a lower court ruling, the Supreme Court sentenced Seoul city councilor Kim Hyung-sik to life imprisonment for hiring a friend to kill the real estate mogul surnamed Song in March 2014. Prosecutors said Kim received 520 million won ($422,000) in kickbacks and free alcohol from Song in exchange for pr
Social AffairsAug. 19, 2015
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Regulator gives final nod to KEB-Hana merger
South Korea's top financial regulator on Wednesday gave its final nod to a merger between Hana Financial Group Inc.'s flagship bank units -- Hana Bank and the Korea Exchange Bank, paving the way for the creation of the country's largest lender by assets.The integrated bank, named KEB Hana Bank, is scheduled to be launched in September upon the approval of the Financial Services Commission.The stock swap ratio for the merger was set at one Hana Bank share for 2.525 shares of the KEB."We will make
IndustryAug. 19, 2015
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N. Korea flexing muscles at border: source
North Korea's military is ratcheting up its combat readiness posture along the border with front-line fortifications such as opening up its weapons portholes and intensifying artillery firing drills, a military source said Wednesday."The North Korean military is now being frequently observed opening up the portholes in their guard posts along the military demarcation line in the demilitarized zone, which faces the South," the military source said on the condition of anonymity.The militaries of b
North KoreaAug. 19, 2015
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KOSPI falls to 6-month low
South Korea’s benchmark stock index dipped below the 1,950 mark amid growing concerns that the U.S. Federal Reserve could raise interest rates as early as next month.The KOSPI fell by 16.88 points, or 0.86 percent, to close at 1,939.38 on Wednesday. It recorded the lowest in about six months since it touched 1,935.86 on Feb. 10.The plunge was attributable to speculation that foreign investors could massively pull out their investment in the coming weeks or months due to the weakening value of th
Aug. 19, 2015
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Lotte moves to list hotel affiliate
South Korean retail giant Lotte Group said Wednesday it plans to hire managers for a planned initial public offering of its hotel operator, Hotel Lotte, as part of a reform plan proposed by Chairman Shin Dong-bin to simplify its governance structure.Lotte will send out proposals to a slew of local and overseas brokerages, with short-listed candidates to be confirmed on Aug.31. The final list will be revealed in early September, the group said in a press release.Lotte, the country's fifth-largest
IndustryAug. 19, 2015
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Prosecutors raid NH Development headquarters over alleged corruption
Prosecutors said Wednesday they have raided the offices of an affiliate of the National Agricultural Cooperative Federation over allegations that it created slush funds by exaggerating construction expenses. The Seoul Central District Prosecutor's Office said it has confiscated hard disks containing accounting books and contract documents of construction service provider NH Development Ltd., based in eastern Seoul. Prosecutors are investigating whether the company created slush funds with its b
IndustryAug. 19, 2015
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Divers begin work to recover sunken ferry
The work to recover a passenger ship that sank more than a year ago began Wednesday with a survey of underwater conditions to decide how the ship will be pulled out of the water.The survey is expected to take months as the country is trying to recover the ship without any serious damage to the vessel or any remains of people still missing from the tragic sinking, according to the Ministry of Oceans and Fisheries.The 6,825-ton ship sank off the country's west coast on April 16 last year while en
Social AffairsAug. 19, 2015
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[Photo News] Samsung attracts tourist shoppers
SAMSUNG ATTRACTS TOURIST SHOPPERS-- Tech giant Samsung Electronics said Tuesday that it would hold promotional events to give gifts to foreign customers who purchase Samsung products at the firm’s retail stores at duty free shops during the “Korea Grand Sale,” a nationwide shopping event for foreign tourists held from August throughout October. (Samsung)
TechnologyAug. 19, 2015
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[Photo News] New wireless speakers
NEW WIRELESS SPEAKERS -- South Korean electronics firm LG Electronics said Wednesday it would add two new Bluetooth speakers -- the Music Flow P5 and SoundPop 360 -- to its wireless audio lineup. The tech firm will showcase the speakers at the IFA electronics trade show to be held in Berlin in September. (LGE) NEW WIRELESS SPEAKERS -- South Korean electronics firm LG Electronics said Wednesday it would add two new Bluetooth speakers -- the Music Flow P5 and SoundPop 360 -- to its wireless audio
TechnologyAug. 19, 2015
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Gov't debt must not top 40 pct of GDP: finance minister
South Korea's government debt should not exceed 40 percent of the nation's gross domestic product despite more spending needs and decreased tax revenue stemming from slowing growth, the top policymaker said Wednesday.Addressing lawmakers of the Special Committee on Budget and Accounts at parliament, Finance Minister Choi Kyung-hwan pointed out that since the global financial crisis of 2007-2008, government debt of most key countries has risen, but Seoul has managed to rein in its debt level."The
Aug. 19, 2015
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U.S. senator says Park's trip to D.C. much awaited
South Korean Vice Foreign Minister Cho Tae-yong and a visiting U.S. senator reaffirmed the strength of their countries' alliance Wednesday as President Park Geun-hye is preparing to visit Washington in October.Sen. Cory Gardner, chairman of the subcommittee on East Asia, the Pacific and international cyber-security policy, arrived in Seoul on Tuesday for a three-day visit, during which he also plans to pay a courtesy call on Park later Wednesday."Korea, of course, is a staunch ally of the United
InternationalAug. 19, 2015
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Chinese businessmen invited to inter-Korean industrial park
A South Korean business group in Beijing has invited Chinese businessmen to an investor fair to be held at an inter-Korean industrial complex in North Korea in October, a group official said Wednesday.The investor fair, organized by The Korea Chamber of Commerce in China, is aimed at paving the way for goods made at the industrial complex in North Korea's border city of Kaesong to make inroads into mainland China as Seoul and Beijing signed a bilateral free trade agreement in June. The Korea-Chi
North KoreaAug. 19, 2015
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S. Korea slams NK for linking joint military drills to family reunion
The Unification Ministry denounced North Korea Wednesday for demanding ongoing military drills between South Korea and the United States be suspended as a condition for permitting a reunion of families separated by the 1950-53 Korean War.North Korea on Tuesday urged Seoul and Washington to suspend their joint military drills, linking the issue to whether it will accept Seoul's offer for holding the reunion.Jeong Joon-hee, the ministry's spokesman, slammed the North's tactics."The joint military
North KoreaAug. 19, 2015