Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Korean labor force to shrink by 10 million by 2044: report
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Pandemic left Korea more depressed than before: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Samsung mocks Apple over iPhone alarm glitch
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Medical feud leaves hospitals in financial crisis
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Govt. asks hospitals to mitigate impact of medical professors' absence
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Chip up cycle won’t stay long: SK chief
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Korea's mobile purchases hit record high in July
Purchases made through mobile devices in South Korea hit a fresh record high in July as smartphones are widening their presence in the world's most wired country, government data showed Monday.Mobile transactions through smartphones and tablets reached a record 4.01 trillion won ($3.6 billion) in July, up 35.1 percent from a year earlier, according to data from Statistics Korea.The total amount of mobile transactions accounted for an all-time high of 62 percent of all online purchases made in Ju
EconomySept. 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
IndustrySept. 4, 2017
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Regulator to cut interest on overdue debt, premiums of indemnity medical insurance
South Korea's top financial regulator said Monday it will cut the interest on overdue debt and the premiums of indemnity medical insurance in line with the government's policy of easing the financial burdens for low-income earners. Choi Jong-ku, chairman of the Financial Services Commission, also said the FSC will actively encourage insurance firms to return unclaimed insurance benefits worth 7.6 trillion won ($6.71 billion) to customers. Interest on overdue debt will be lowered by the end of th
EconomySept. 4, 2017
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S. Korean stocks down late Monday morning on NK threat
South Korean stocks traded lower late Monday morning apparently as investors sought after safer assets on Pyongyang's sixth nuclear test staged over the weekend.The benchmark Korea Composite Stock Price Index shed 16.47 points, or 0.7 percent, to 2,341.22 as of 11:20 a.m.On Sunday, Pyongyang announced it had successfully conducted a test of a hydrogen bomb that can be mounted on an intercontinental ballistic missile. Market behemoth Samsung Electronics shed 0.56 percent, and top chipmaker S
MarketSept. 4, 2017
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Religious groups set to pay W64b in taxes next year: report
Taxing religious groups will add 64.7 billion won ($57 million) to state coffers annually starting next year, a report said Monday.The Moon Jae-in government has pledged to levy taxes on the clergy from 2018 onwards as part of its drive for equitable taxation, although people working for churches and temples have been exempted from paying income tax until now, as their work has been regarded as a spiritual service, not labor."We estimate the amount of taxes to be paid by employees of religi
EconomySept. 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
IndustrySept. 4, 2017
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Quarter of Korean salaried workers did not use vacation time: report
Nearly a quarter of salaried workers in South Korea did not use their vacation time from August 2015 through July of last year, a report by a local culture and tourism organization said Monday.The findings, based on a survey of 4,357 people nationwide by the Korea Culture and Tourism Institute, showed 23.9 percent of those checked said they did not use their vacation time. The lack of free time was reflected in South Koreans putting in some of the longest work hours in the world at the time the
EconomySept. 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
IndustrySept. 4, 2017
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Seoul stocks open sharply lower on Pyongyang's nuke test
South Korean stocks opened sharply lower on Monday after North Korea conducted its sixth nuclear test a day earlier, escalating geopolitical tension in the Northeast Asian region.The benchmark Korea Composite Stock Price Index plunged 26.87 points, or 1.14 percent, to 2,330.82 in the first 15 minutes of trading.On Sunday, Pyongyang claimed it successfully conducted a test of a hydrogen bomb that can be loaded on an intercontinental ballistic missile. Tech giants lost ground, with top cap Sa
MarketSept. 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
IndustrySept. 4, 2017
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Korea set to take immediate measures to stabilize financial markets
South Korea's finance minister pledged Monday to take immediate measures to stabilize the market, if the need arises, amid escalating tensions after North Korea conducted its sixth nuclear test."The North Korean issue is spreading across the world," Finance Minister Kim Dong-yeon said at a meeting with Bank of Korea Governor Lee Ju-yeol and Financial Services Commission Chairman Choi Jong-ku. "It may not only have a short-term impact on the financial and foreign exchange markets,
EconomySept. 4, 2017
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Number of temps at public agencies increase in Q2
The number of nonregular workers at South Korea's public institutions rose in the second quarter from three months ago despite the government's push to cut them, with over half of them posting gains, government data showed Monday. According to the government portal All Public Information in One, temporary employees at 355 public organizations stood at 39,681 as of the end of June, up 1,765 from the first quarter.Of the total, 180 institutions, or 50.7, hired more nonregulars during the three-mon
EconomySept. 4, 2017
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Flagship smartphones to compete over high-end cameras
Global tech giants are set to release flagship smartphones equipped with high-end cameras in the second half, industry watchers said Monday, with the technological focus switching to dual lenses instead of megapixels.Industry watchers said key giants are set to release smartphones with dual-lens cameras, helping users take quality photos.Samsung Electronics Co. showcased the Galaxy Note 8 last month, which marked its first flagship to introduce a dual-lens camera on the back. The Galaxy Note 8 h
TechnologySept. 4, 2017
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Financial regulator steps up monitoring of markets after N. Korea‘s 6th nuke test
South Korea's financial regulator said Monday it has begun monitoring markets around the clock and will swiftly act if necessary, after North Korea spiked tensions by conducting its sixth and most powerful nuclear test. Zhin Woong-seob, governor of the Financial Supervisory Service, held a meeting earlier in the day to review contingency measures. "It is difficult to predict the situation on the Korean Peninsula as North Korea went ahead with a nuclear test, despite intense sanctions by the
EconomySept. 4, 2017
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[News Focus] Economy beleaguered by nuke test, US trade tension
South Korea’s economy faced serious threats on two fronts Sunday, following North Korea’s strongest-ever nuclear test, as well as increased indications from the United States that their bilateral free trade deal was under threat.Such challenges, combined with the Korea-China tension over the Terminal High Altitude Area Defense and the prolonged slow growth trend, is likely to further weigh down on Asia’s fourth-largest economy.Deputy Prime Minister for economic affairs and Fina
EconomySept. 3, 2017
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[Newsmaker] Trump’s talk of scrapping FTA adds strain on Korea
Tension heightened between Seoul and Washington over the weekend, upon reports by the US media that said President Donald Trump is considering a possible withdrawal from the Korea-US Free Trade Agreement.With many viewing Trump’s gesture as an attempt to gain an upper hand in stalled renegotiations, a Seoul official with the Trade Ministry said that South Korea has no change in its policies on the FTA with the United States despite Trump’s hints.The US president on Saturday told repo
EconomySept. 3, 2017
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[Stock Preview] North Korea risks loom over Kospi
Security tension is most likely to return to focus in South Korea’s stock markets this week following the North’s sixth nuclear test Sunday, further dampening investors’ sentiment.A 5.7 magnitude tremor was detected in northeastern North Korea on Sunday at around 12:29 p.m., which North Korea claimed to be a test of a hydrogen bomb that can be loaded into its intercontinental ballistic missile.“The news would bring noise in investor sentiments and stock markets in South K
MarketSept. 3, 2017
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[IFA 2017] IFA paints picture of new lifestyle with IoT, AI tech
BERLIN -- Appliances that improve convenience and save time using the Internet of Things and artificial intelligence seemed no longer to be the stuff of vague imagination at the IFA 2017 tech show in the German capital.As the biggest tech show in Europe nears the end of its six-day run, one of the main trends that emerged is that IoT has become a basic component of both large and small home appliances, while AI is being added as an extra feature to those connected products.Another noticeable cha
TechnologySept. 3, 2017
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[Exclusive] Harman CEO: Samsung will outdo Google, Amazon with AI speaker
BERLIN -- Closer cooperation with Harman International, a new Samsung Electronics affiliate, looks to be crucial for the tech giant to launch an “unbeatable” artificial intelligence device next year, with the chiefs of the two firms holding a closed-door meeting at the IFA 2017 in Berlin.On Friday, Yoon Boo-keun, president and CEO of the consumer electronics business at Samsung Electronics, held a confidential meeting with Harman CEO Paliwal at a private venue set up by Harman exclusively for di
TechnologySept. 3, 2017
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[IFA 2017] LG moving to acquire AI business
BERLIN -- As part of efforts to expand its smart home business, LG Electronics will double its investment by 2020 including mergers and acquisitions of promising artificial intelligence tech firms, said Song Dae-hyun, head of the company’s home appliance and air solutions division Saturday. At a press conference held at a hotel in Berlin, Song said LG would spare no efforts to boost its smart home business and continue investing to acquire AI and Internet of Things technologies. Song Dae-hyun,
TechnologySept. 3, 2017