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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KAERI inks deals with local companies to dismantle Kori-1 reactor
South Korea's state-run atomic energy institute said Monday it has signed contracts with several local firms for the development of the technology to dismantle the country's first decommissioned nuclear reactor.The Moon Jae-in government announced the shutdown of the Kori-1 nuclear power plant in the southeastern port city of Busan in June amid concerns over possible power shortages and increases in electricity bills.The chief executive, who took office in May, has pledged to close several aged
Sept. 4, 2017
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Builder sentiment hits 19-month low in Aug. on anti-speculation steps
South Korean builders' business confidence touched a 19-month low in August due mainly to government measures to cool the housing market, a poll showed Monday.The construction business survey index stood at 74.2 last month, down 11.2 points from the previous month and at its lowest level since January 2016, according to the survey by the Construction and Economy Research Institute of Korea.A reading hovering below 100 indicates that builders pessimistic about the current state of the constructio
Sept. 4, 2017
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Corporate M&As in Korea surge in H1
Corporate mergers and acquisitions by South Korean firms more than tripled in the first half of this year as a global economic recovery encouraged companies to expand their business spheres, the antitrust watchdog said Monday.The value of reported M&As reached 41.5 trillion won ($36.6 billion) in the January-June period, up sharply from 13 trillion won tallied a year earlier, according to the Fair Trade Commission. The number of merger cases also edged up to 215 from 209 over the cited period. F
Sept. 4, 2017
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T'way Air opens 2nd route from Jeju Island to Japan
T'way Air Co., one of South Korea's six budget carriers, said Monday it has opened the second route from Jeju Island to Japan, a move to strengthen services on its non-Chinese routes. Using the 189-seat B737-800 passenger jet, T'way Air began services on the Jeju Island-Tokyo route Saturday, the low-cost carrier said in a statement. In late June, the company kicked off flights between the resort island and Osaka. This photo provided by T`way Air shows one of its B737-800 jets. (Yonhap)T'way Air
Sept. 4, 2017
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Asiana bent on turnaround amid THAAD row, competition
Asiana Airlines Inc., South Korea's second-biggest passenger carrier, is struggling to improve its business amid an ongoing diplomatic row over the deployment of a missile defense system here and increased competition with budget carriers, industry sources said Monday.Under its three-year restructuring plan that ends in December 2018, Asiana Airlines has cut costs, incorporated redundant business departments, and reorganized its fleet and routes. The airline announced the plan in December 2015 a
Sept. 4, 2017
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Labor unions at KBS, MBC go on massive strike
A few thousand union members at Korea's two biggest TV networks went on strike simultaneously on Monday to protest alleged management interference in news coverage and unfair labor practices.Union members associated with the National Union of Media Workers at KBS and MBC, two of the country's biggest terrestrial networks, started a sit-in at midnight Sunday, calling for the removal of the networks' management and the restoration of independent, fair reporting.The dual strike at both networks is
Sept. 4, 2017
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Lotte Duty Free eyes pullout from Incheon airport
Lotte Duty Free, South Korea's top duty-free operator, is considering withdrawing from Incheon International Airport, a company source said Monday, as the local duty-free industry is struggling to cope with the impact of a diplomatic row between Seoul and Beijing over the deployment of a US missile defense system here.Lotte's possible decision to pull out of the main gateway to South Korea, west of Seoul, is feared to spark a domino effect as other operators demand the airport operator cut rent
Sept. 4, 2017
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Coca-Cola begins campaign for 2018 Winter Olympics this month
With about 150 days left to the first Winter Olympics to be held here, torchbearers for the Olympic Winter Games PyeongChang 2018 are to be announced this month by the organizing committee, for which Coca-Cola, the worldwide Olympic partner, helped gather.As a presenting partner of the Olympic Torch Relay, Coca-Cola has been offering a unique experience to non-athlete participants of the event through the torch relay.Kim Yuna (left), a former Olympic figure skating champion and the spokesperson
Sept. 3, 2017
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AREX remains most popular airport-city transit service
The Airport Railroad Express Train continues to be the most popular transport option for people who visit Incheon Airport. An average of 218,060 passengers used the service between July and August this year, the Incheon Airport Railroad said Sunday. The AREX service has marked significant growth since its opening in 2007. In January this year, 269,758 passengers used the AREX on Jan. 20, marking a record-high number of daily passengers. The AREX links Seoul Station and Incheon Airport. Passenger
Sept. 3, 2017
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Note 8 price soars as competition heats up
Samsung Electronics’ Galaxy Note 8 is expected to be priced higher than 1 million won ($892) in South Korea for the first time among the company’s premium phones. Analysts predicted the prices of premium smartphones would continue to soar as handset makers competitively add advanced specifications to their devices and the industry enters a super cycle. Samsung’s mobile chief Koh Dong-jin recently changed his earlier estimation, saying, “The price of the Note 8 is likely to surpass 1 million won
Sept. 3, 2017
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Korea’s air transport deficit marks record high
South Korea’s air transport deficit marked a record high in the first six months of this year, largely due to a dramatic decline in Chinese tourists, as well as an increase in the number of Koreans traveling outside of the country, central bank data showed Sunday. The deficit of Korea’s air transport reached $248.6 million between January and June. In the previous six-month period, the figure had reached a surplus of $216.7 million, according to data compiled by the Bank of Korea. (Yonhap)Korean
Sept. 3, 2017
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Corporate watchdog unveils list of 57 firms for mandatory disclosure
South Korea's corporate watchdog on Sunday designated 57 large companies, including top Internet portal operator Naver Corp., that are obliged to disclose their corporate information to boost transparency.The Fair Trade Commission said businesses with assets of 5 trillion won ($4.45 billion) or more and their 1,980 affiliates will be added to its new watch list for mandatory filings. In April last year, the number was 53 big businesses with 1,670 affiliates. (Yonhap)Naver surpassed the 5 trillio
Sept. 3, 2017
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McDonald’s Korea halts sales of bulgogi burger
McDonald’s Korea halted sales of its bulgogi burgers on Saturday, after a group of customers showed symptoms of enteritis after having the burger at a branch in Jeonju, southwestern Korea.Seven grade school students and a teacher who ate bulgogi burgers on Aug. 25 reportedly suffered stomachaches and high fever.Bulgogi burger (McDonald's website)Following the incident, McDonald’s Korea said would temporarily take the iconic Korean burgers off the menu and cooperate with the Ministry of Food and
Sept. 3, 2017
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ITCCK, Edrington Korea promote pre-dinner wine
The Italian Chamber of Commerce in Korea and Edrington Korea are holding a weeklong promotion to promote Campari, a predinner wine imported from Italy.The campaign, “Reddy to Italy,” kicked off Monday to first promote Italy’s aperitivo, a part of the country’s dining culture, and Campari, one of its representative predinner wine brands. The word “reddy” represents the color of the wine and was picked to raise consumer interest in the world of Italian wine, the company said. The Aperitivo Week ru
Sept. 1, 2017
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[Weekender] Earphones becoming standalone, convenient and smarter
In the premium earphone market traditionally dominated by high-end audio producers, smartphone giants have jumped into the race by integrating with their advanced handset technologies. Global smartphone makers Apple, Sony, Samsung and LG are luring music lovers with more standalone, convenient and smarter earphones, moving beyond sound quality by removing wires, adopting ergonomically designed headsets and integrating with software in their smartphones. Bundled, high-end earphones for smartphone
Sept. 1, 2017
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‘6 in 10 Koreans do overtime every other day without extra pay’
Korea’s salaried employees work an average of 2 1/2 days overtime per week, a poll showed Friday.Employment-related portal JobKorea -- citing its recent survey of 1,013 office workers -- alleged that an average worker puts in 2 1/2 days of overtime per week. The survey also showed that only 37.7 percent of the respondents are compensated properly for the extra hours.When asked whether “Overtime work should be taken for granted” 69.9 percent of the respondents said “No.” Also, 63.9 percent of the
Sept. 1, 2017
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[Weekender] Koreans shell out for high-end headphones
Audiophiles in Korea are shelling out for high-end headphones as technology for audio players continues to improve and headphones are marketed as accessories.“Once you hear a song through expensive headphones, it never really sounds the same after that,” said a 38-year-old businessman surnamed Kim, who was trying out a different headphones at the Sony store in the upscale Apgujeong area.“At first I thought that it was ridiculous to spend more than 100,000 won on a pair of headphones. But after t
Sept. 1, 2017
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Duty-free struggles as THAAD crisis persists
Duty-free operators in South Korea are reducing their organizations and store sizes as sales struggle to rebound in the face of falling numbers of tourist shoppers from China. The once highly lucrative industry had been heavily dependent on group tourists from China, who swept Korean cosmetics and other products off store shelves. However, these groups sharply fell off earlier this year when Beijing imposed an unofficial travel ban on Korea following Korea‘s decision to install an American anti-
Sept. 1, 2017
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No. of Koreans traveling to China continues to drop amid THAAD row: data
The number of South Koreans traveling to China continued to drop in August, with more people opting to fly to Japan or Southeast Asia instead, industry data showed Friday, as the ongoing diplomatic spat between Seoul and Beijing over the deployment of a US missile defense system does not show signs of letting up. According to the data by Hana Tour, the country's No. 1 travel agency, 320,000 people took overseas trips through its tours offered last month, up 13 percent from the previous year.Of t
Sept. 1, 2017
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[Monitor] Biggest consumer price hike in more than 5 years in August
South Korea’s consumer prices in August made the greatest jump in more than five years, mainly due to a sharp increase in food prices, government statistics showed Friday. Korea’s consumer price index rose 2.6 percent last month from the year before, which is bigger than the previous months’ 2.2 percent hike, according to Statistics Korea. It is the highest gain since April 2012, when the inflation rate had hit 2.6 percent.The statistics bureau attributed the inflation hike to a monthlong drough
Sept. 1, 2017