Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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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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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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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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BTS-themed moon jar to be unveiled on Hangeul Day
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[Robert Fouser] Why the US election looks so close
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Cosme Decorte launches premium base makeup
Cosme Decorte, a high-end cosmetics brand established by Japan-based KOSE, has newly added two new premium base makeup products to its AQ Meliority line. The AQ Meliority makeup essence is fused with a repairing emulsion which continually delivers active moisturizing ingredients into the skin for a glowing skin before applying makeup. The essence includes a special coating powder that covers up pores for a more even skin tone. The AQ Meliority powder foundation helps create a natural, translucen
IndustryAug. 6, 2015
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Seoul to expand tax benefits for foreign firms
South Korea’s tax authority has decided to expand tax incentives for foreign companies, which would increase the workforce in the nation next year, said economic policymakers on Thursday.According to the 2015 tax code revision unveiled by the Finance Ministry, the ceiling of tax deduction for foreign firms operating here will be raised to 40 percent of their total inbound-investment from the current 20 percent -- when it comes to job creation.Currently, they are offered a corporate deduction of
Aug. 6, 2015
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[Wang Huangya] ‘One Country, Two Systems’ vital
It entered a critical stage in 2015. The year also marks the 25th anniversary of the promulgation of the Basic Law of the Hong Kong Special Administrative Region and the 18th anniversary of the SAR. To further implement the “One Country, Two Systems” principle and ensure Hong Kong’s long-term stability and prosperity, the SAR must correctly assess the experience of the past 18 years. It has to translate the central government’s Hong Kong policies into real action and make the most of all these o
ViewpointsAug. 6, 2015
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[Kim Kyung-ho] Park’s stance on Beijing parade
During her summer vacation last week, President Park Geun-hye posted on her Facebook page a photo of a letter and a hand-drawn portrait of her from a Chinese man, who described the South Korean leader as his “heroine.” His admiration for Park may deepen further if he sees her attending a military parade scheduled to be held in Beijing on Sept. 3, which China established as its Victory Day last year. The parade through Tiananmen Square was apparently designed to serve as a reminder of China’s rol
ViewpointsAug. 6, 2015
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Chaebol owners use tiny stakes to control business empires
Although the nation’s top 10 chaebol owners own tiny stakes in their business empires, their shady cross-shareholding structure allows their families to wield absolute power through affiliates, recent data found Thursday. According to Chaebul.com, an online conglomerate tracker, their average ownership stake was just 0.25 percent. Including the stakes owned by other family members, the figure increased to a mere 0.49 percent.Samsung Electronics chairman Lee Kun-hee, who has been hospitalized sin
IndustryAug. 6, 2015
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LG Uplus invests in U.S. robot-maker
South Korea’s leading mobile carrier LG Uplus said Thursday that it had invested $2 million in U.S. information technology venture JIBO Inc., a developer of the world’s first social robot for home, dubbed Jibo. Founded in January this year, the U.S. venture firm has run a series of campaigns to raise funds including the one that landed around $25.3 million in January to accelerate the mass production of the social robot. The stationary robot equipped with two high-resolution cameras and a 360-de
TechnologyAug. 6, 2015
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Korean office laid bare
In 2003, Eric Surdej, a French sales expert with experience working at Sony and Toshiba, decided to join LG Electronics, seeking out new challenges in his career.He knew about Koreans’ reputation of being extremely difficult to work with, but didn’t care too much. He was determined to see for himself the inner workings of the enigmatic Korean company he believed would soon pose a major challenge to more established brands from the U.S., Europe and Japan. This company would be unstoppable once it
BooksAug. 6, 2015
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LG joins Google for new Nexus
Tech giants LG Electronics and Google are currently working together to roll out the U.S. Internet giant’s marquee smartphone, Nexus, in October this year, according to sources Thursday. Google has collaborated with global smartphone manufacturers, such as Samsung Electronics and HTC, to develop its flagship Nexus phone every year, which provides reference for manufacturers and developers of Android-powered devices. The upcoming NEXUS phone, likely to be fitted with a 5.2-inch (13-centimeter) d
TechnologyAug. 6, 2015
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KT commemorates Korea's independence Day
COMMEMORATION OF LIBERATION -- Students from the Sejong Academy of Science and Arts release helium balloons fitted with cameras to take aerial photos of the easternmost islets of Dokdo in an event held by mobile carrier KT on Thursday. The event was organized to mark the 70th anniversary of Korea’s independence from Japan’s colonial rule, which falls on Aug. 15. (KT)
TechnologyAug. 6, 2015
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Rapprochements with rogue states
In his State of the Union address to the U.S. Congress in 2002, President George W. Bush famously described Iraq, Iran and North Korea as an “axis of evil.” In the years since, however, America has not treated each in the same way. The differences are highly instructive. Bush and his hard-line advisers believed that only force or “regime change” would stop these “rogue” states’ terrorism or their programs to acquire weapons of mass destruction. So, in March 2003, the U.S. invaded Iraq, resulting
ViewpointsAug. 6, 2015
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Lotte skyscraper, subway caused Seoul lake leakage: report
The construction of skyscrapers and a new subway line highly attributed to the lake leak that recently took place in the southern capital, Seoul officials said Thursday. According to the Seoul Metropolitan Government, large-scale constructions of Lotte World Tower, Subway Line No. 9 and eight other skyscrapers in Songpa-gu contributed to the decrease in the water level of the Seokchon Lake by over 0.5 meters over just a few years.The city government launched a probe after the lake level dropped
Social AffairsAug. 6, 2015
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[Graphic News] Apple stocks hit 6-month low
Shares of Apple, one of the world’s top companies in terms of market capitalization, dropped to their lowest price in six months, data showed Wednesday.According to Bloomberg, Apple’s stock price closed at $114.64 on Nasdaq Tuesday local time, a 3,2 percent decline from the previous day, and a 13.2 percent decrease from July 20, when the stock price was $132.07.Apple’s market cap at that point was $760.8 billion, and has since dropped to $657.6 billion, its valuation falling by $103.2 billion.Ap
IndustryAug. 6, 2015
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Special pardons expected to include business moguls
President Park Geun-hye is likely to finalize her plan for special pardons in a Cabinet meeting next Thursday to mark the 70th anniversary of Liberation Day, Cheong Wa Dae said, as speculation spread that jailed business moguls are most likely to be included on the list.“I understand that (the president) is moving in that direction,” said presidential spokesman Min Kyung-wook on Thursday. Park had said last month that the pardon would serve as an opportunity to “bring people together in the spir
PoliticsAug. 6, 2015
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Samsung cuts smartphone prices globally amid falling market share
South Korea's tech giant Samsung Electronics Co. said Thursday it has slashed the prices of its two latest flagship smartphones in key markets, a move seen to be aimed at retaining its falling share around the globe in the face of Apple Inc. and fast-growing Chinese rivals.The price for the 32-gigabyte Galaxy S6 and its curved variant Galaxy S6 Edge has been reduced by 800 yuan ($128) to 4,448 yuan and 5,288 yuan, respectively, in China, Samsung Electronics said. The world's No. 1 smartphone ma
TechnologyAug. 6, 2015
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Shin Dong-bin listed as head of Lotte's Japan investment arm
Shin Dong-bin, the chairman of Lotte Group in South Korea, has been registered as the head of an investment unit in Japan that is believed to be at the apex of the conglomerate's complex ownership structure, data showed Thursday.The documents issued by the Japanese justice ministry showed that Shin was registered as the chief executive of 10 subsidiaries of the investment unit, dubbed "L Investment Company," as of July 31.Previously, the investment affiliate was headed by Lotte founder Shin Kyuk
CompaniesAug. 6, 2015
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Chung Mong-joon to announce FIFA candidacy in France
South Korean FIFA presidential hopeful Chung Mong-joon said Thursday he will announce his candidacy in Paris later this month.He told a press conference in Seoul that he will officially join the race on Aug. 17 in the French capital. He will first travel to Georgia on Aug. 12 for UEFA Super Cup, where he will hold talks with key European football officials, and make stops through some European cities before arriving in Paris."FIFA was founded in Paris (in 1904) and it's a transportation hub," sa
SoccerAug. 6, 2015
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Elliott asks Samsung C&T to buy back part of its stake
U.S. hedge fund Elliott Associates said Thursday it has requested that Samsung C&T Corp. buy back part of its stake in the South Korean construction firm, a move in line with its opposition against a key merger deal carried out by the country's top conglomerate, Samsung Group.Thursday is the deadline for shareholders of Samsung C&T to file claims with the builder to repurchase their shares in opposition to the planned merger with Cheil Industries Inc., the group's de facto holding firm. The merg
IndustryAug. 6, 2015
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S. Korea eyes tax refunds for foreigners getting plastic surgery
South Korea plans to give tax refunds to foreigners who receive plastic surgery here as part of efforts to lure more tourists, whose numbers have plunged following the Middle East Respiratory Syndrome outbreak, the government said Thursday.The plan is outlined in the government's 2015 tax code revision, which also places emphasis on revitalizing the sputtering economy by creating more jobs for youths and helping wage earners accumulate wealth and spend more.The revision stipulates that starting
Social AffairsAug. 6, 2015
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After success in Asia, Sovo Shoes expands in Europe, North America
Handmade shoes brand Sovo Shoes (www.sovomall.co.kr) is expanding its presence beyond Asia into Europe and North America by launching global websites with Cafe24, a local e-commerce solution provider. CEO Kim Woo-jin started the business in 1997. After gaining popularity through local department stores, the brand went online to attract more customers. It currently operates websites in English, Chinese and Japanese.One of the biggest strengths of Sovo Shoes is that it offers designs that appeal t
IndustryAug. 6, 2015
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Court says severance cannot be paid as part of monthly wages
Severance cannot be paid as part of a worker's monthly salary before the employee leaves the company, a court ruled Thursday.Presiding Judge Lee Young-hwa of the Daegu District Court found the owner of a rental business, whose identity was withheld, guilty of not providing the proper severance pay to his employee, and fined him 200,000 won ($170). The employee's contract was also deemed invalid.The defendant said the work contract specified that 200,000 won would be paid monthly to the employee,
Social AffairsAug. 6, 2015