Most Popular
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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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Military aircraft evacuating S. Koreans in Lebanon returns home
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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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BTS-themed moon jar to be unveiled on Hangeul Day
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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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[Robert Fouser] Why the US election looks so close
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[Safer Korea] Biometric verification going mainstream in finance, concerns remain
Few would bet against biometric authentication going mainstream in the banking and finance sectors in South Korea this year as customers increasingly find it convenient to use the services simply with their fingerprint, iris or face. However, concerns also remain over security as serious risks arise if users’ biometric and financial information is hacked. Biometric verification is a system that allows users to log into banking apps and make transactions through biometric verification without typ
Jan. 1, 2018
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Korean biopharma body seeks expanded gov’t support in 2018
South Korea’s representative biopharmaceutical business body called for expanded government funding toward biotech research and development in 2018, stressing that sustained R&D is central to the industry’s growth and success. The Korea Pharmaceutical and Bio-pharma Manufacturers Association stated that the Korean pharmaceutical industry is now on the verge of becoming a globally competitive force and that now is the time to focus on retaining this momentum.“For Korea’s pharma industry to become
Jan. 1, 2018
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[Safer Korea] Korea moves to address growing concerns over earthquake
South Korea has started to roll out measures to address the increasing public concern over the risk of earthquakes, after the nation was hit by two of the strongest earthquakes over the past two years.Korea has long been regarded as an earthquake-free country but the latest record-high quakes in Pohang and Gyeongju have triggered concerns over future quakes on the peninsula, with experts here forecasting possibilities of stronger quakes hitting in the future.Primary concerns are over the low rat
Jan. 1, 2018
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[Safer Korea] 2018 begins with moves to strengthen consumer safety
As the dust settles on a year riddled with back-to-back controversies involving the safety of everyday products such as eggs and sanitary pads, the South Korean government has announced a series of measures to begin 2018 with a more regulated and safe consumer market. In 2017, consumers and manufacturers alike underwent a series of crises as revelations of toxins being included in common household goods continued to surface. The biggest shock came in August, when it was discovered that eggs bei
Jan. 1, 2018
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Hyundai, Kia being outsold by Chinese rival in world's largest car market
South Korean carmakers Hyundai Motor Co. and Kia Motors Corp. have been outsold by their main local rival in the Chinese market and may further lose their standing going forward, industry watchers said Monday.Market data showed that Geely overtook Hyundai and Kia in terms of cars sold in February of last year due to structural weaknesses and the diplomatic row caused by the deployment of the US Terminal High Altitude Area Defense anti-missile defense system in South Korea.Cars made by the two la
Jan. 1, 2018
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Ex-Vice Chairman of Samsung Elec. Kwon is highest-paid executive in S. Korea
Former head of Samsung Electronics Co.'s chip and handset division Kwon Oh-hyun was the highest-paid executive in South Korea last year, market data showed Monday.Kwon, who stepped down from the post and reposted as chairman of the Samsung Advanced Institute of Technology in the conglomerate's latest reshuffle, was presumed to have received a combined 20 billion won ($18.7 million), including 14 billion won in salary and 5 billion won as a bonus, according to the data by local market tracker Cha
Jan. 1, 2018
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New Incheon airport terminal to be unveiled to public ahead of official opening
The new passenger terminal at Incheon International Airport will be unveiled to the public for the first time next week ahead of its official start of operations, its operator said Monday. The Incheon International Airport Corp. plans to hold a pre-opening event for the 384,336-square-meter second terminal built on Yeongjongdo Island, 60 kilometers west of Seoul, on Jan. 12. It has spent 4.9 trillion won ($4.6 billion) on the massive building project. The five-story new terminal will formally be
Jan. 1, 2018
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Korean Air to operate transfer flights from Incheon to Yangyang in Feb.
Korean Air Lines Co., South Korea's largest flag carrier, said Monday it will operate transfer flights between Incheon International Airport and Yangyang to better support this year's Winter Olympic Games.South Korea's PyeongChang, 182 kilometers east of Seoul, will host the Winter Games from Feb. 9-25 that will attract athletes and spectators from all over the world. Yangyang is the closest airport to PyeongChang and other venues located around the alpine town, as well as the city of Gangneung
Jan. 1, 2018
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S. Korea's exports surge 15.8% in 2017
South Korea's exports surged 15.8 percent to reach an all-time high of nearly $574 billion last year fueled by an upturn in global demand, government data showed Monday.Outbound shipments came to $573.9 billion for 2017, up from $495.4 billion a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy, and the Korea Customs Service.The total is the largest annual export tally since the country started compiling such data in 1956.The daily average exports reached a n
Jan. 1, 2018
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S. Korea's service sector investment focused on wholesale, retail, restaurants
South Korea's investment in the service sector has been focused on low value-added areas, such as wholesale, retail and restaurants, official data showed Monday.The gross fixed capital formation for the service sector was tallied at 256.1 trillion won ($239.6 billion) in 2015, the findings by the Bank of Korea and the National Assembly Budget Office showed. This represents a solid 13.9 percent increase to 224.8 trillion won reported in 2006. The GFCF refers to the net increase in assets that tak
Jan. 1, 2018
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Korea's tourism deficit to hit record high on China setback
Korea's deficit in the tourism sector is expected to hit a record high level this year, due largely to a drop in Chinese visitors following a diplomatic row between Seoul and Beijing over a U.S. missile defense system here and a rise in outbound travelers, data showed Sunday.The country's tourism-related deficit in the first 10 months of the year came to $11.15 billion, according to the data provided by the Korea Tourism Organization (KTO). The tally may top $13 billion for the whole of the year
Dec. 31, 2017
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S. Korea's cigarette imports soar on iQOS popularity
South Korea's tobacco imports rose to the highest level in 15 years this year, led by the popularity of heat-not-burn electronic cigarettes, government data showed Saturday.South Korea imported $199.96 million worth of cigarettes in the first 11 months of this year, marking a 61 percent spike from $124.1 million in the entire year of 2016, the data from the Korea Customs Service showed. (Yonhap)The 11-month tally already marked the highest annual total since 2002, the KCS said, noting the total
Dec. 30, 2017
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Oil prices in S. Korea rise for 22 consecutive weeks
Retail oil prices in South Korea rose for 22 weeks in a row this week in line with a hike in global crude oil prices following an explosion at major pipeline in Libya, data showed Saturday.The average gasoline price nationwide was at 1,543.1 won ($1.44) per liter in the fourth week of December, edging up 1.6 won from a week earlier, according to the data provided by the state-run Korea National Oil Corporation.(Yonhap)Diesel prices also gained 1.6 won to 1,335.2 won per liter, advancing for 23 c
Dec. 30, 2017
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SK issued most debt among major biz groups in 2017
South Korean energy and telecom conglomerate SK Group sold the most debt among major business groups this year amid low market rates, industry data showed Saturday.According to the data compiled by Infomax, the financial news and information arm of Yonhap News Agency, SK Corp. and other affiliates of the group sold a combined 4.32 trillion won ($4.04 billion) this year as of Friday. This was followed by retail giant Lotte that sold 4.26 trillion won worth of debts, with tech giant LG Group issui
Dec. 30, 2017
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Businessmen call for probe into shutdown of factory park in N. Korea
A private task force on Friday pressed the government to launch a probe into the shutdown of an inter-Korean joint factory park in North Korea.South Korea pulled the plug on the factory park in the North's border city of Kaesong in February 2016 to punish the North for its fourth nuclear test and long-range rocket launch.On Thursday, a government panel said ousted former conservative President Park Geun-hye issued a unilateral verbal order to shutter the park without discussions or consultations
Dec. 29, 2017
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HANARO reactor successfully passes earthquake test: KAERI
South Korea's research reactor has successfully undergone a "shaking table test" to see if it can withstand a powerful quake, the country's atomic research institute said Friday.The test of the 30 megawatt High-flux Advanced Neutron Application Reactor unit in the city of Daejeon 160 kilometers south of Seoul found the materials used for the reconstruction of the reactor resisted a tremor equivalent to an earthquake of magnitude 7.4, the Korea Atomic Energy Research Institute said.HANARO was des
Dec. 29, 2017
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Competition heats up for budget smartphones
Samsung, LG and Chinese smartphone makers are slated to unveil a diverse range of smartphones early next year to appeal to customers in the lull before launching their flagship models, including the Galaxy S9 and LG G7. In January next year, Samsung Electronics will release its mid-end smartphone Galaxy A8 and A8 Plus, which will sport a 16-megapixel and 8-megapixel dual front camera made up of two separate cameras, in a first for Samsung phones. The new camera will enable users to switch betwee
Dec. 29, 2017
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Kumho Tire separates from Kumho Asiana Group
Amid company restructuring works led by creditors, Kumho Tire has officially parted from Kumho Asiana Group, the company said Friday.“Based on the Monopoly Regulation and Fair Trade Act, Kumho Tire has become a separate affiliate from Kumho Asiana Group,” the company said.The tire maker had filed for separation from Kumho Asiana Group to the Fair Trade Commission last month.Kumho Tire has also postponed wage and allowance payments for December, according to a notice sent by Kumho Tire Chairman K
Dec. 29, 2017
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GS Retail to open first convenience store in Vietnam next month
GS Retail, a major Korean convenience store chain operator that runs GS25, said Friday that the company will open its first branch in Vietnam in January. Starting with the first branch opening in mid-January, GS Retail plans to launch a total of four convenience stores in Vietnam’s largest city Ho Chi Minh next month, the company said. (Yonhap)GS Retail expects its annual earnings to reach tens of billions of won from loyalties and also dividends, mainly from the joint venture it forged with Vi
Dec. 29, 2017
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Korea's consumer prices rise 1.5% in Dec.
South Korea's consumer prices growth accelerated in December on a rise in prices of industrial goods and financial services, government data showed Friday.The country's consumer price index climbed 1.5 percent this month from a year earlier, compared with the previous month's 1.3 percent on-year gain, according to the data compiled by Statistics Korea.From a month earlier, the index also moved up 0.3 percent in December.Core inflation, which excludes volatile oil and food prices this month, grew
Dec. 29, 2017