Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Earnings forecast for listed firms worsens on global woes
SEOUL, Oct. 2 (Yonhap) -- The outlook for listed companies' 2012 earnings is rapidly taking a turn for the worse as the global financial crisis is feared to dent their performances, a report showed Sunday.At the end of last month, local securities companies put the combined operating profit of 65 ma
Oct. 2, 2011
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National debt expected to rise by over 25 tln won in 2012
SEOUL, Oct. 2 (Yonhap) -- South Korea's national debt is likely to rise by more than 25 trillion won (US$21.1 billion) in 2012 from this year due to an increase in state bond issues, a government report showed Sunday.According to the report by the finance ministry, the country's national debt is est
Oct. 2, 2011
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S. Korea signs anti-counterfeiting agreement
SEOUL, Oct. 1 (Yonhap) -- South Korea on Saturday joined a multilateral accord aimed at combating counterfeiting and piracy of intellectual properties, Seoul's trade ministry said.A group of 11 parties have been in negotiations over the agreement, but eight countries, including Japan, the U.S., Sing
Oct. 2, 2011
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Korea's trade surplus shrinks to $1.44 bln in Sept.
South Korea's trade surplus shrank significantly from a year earlier in September as imports grew faster than exports, the government said Saturday.The country's trade surplus reached US$1.44 billion last month, down from $4.41 billion in the same period last year, according to the Ministry of Knowl
Oct. 1, 2011
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Korea August output suggests slowing growth
South Korea's industrial output rose at a slower than expected pace in August, official figures showed Friday, as the uncertain global economic outlook took its toll on local manufacturers.Output rose 4.8 percent from the same month a year earlier, compared with an average forecast for 7.0 percent g
Sept. 30, 2011
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Korea‘s population aging faster than advanced nations
More than one out of 10 people in South Korea were aged 65 or older last year, data showed Thursday, indicating the nation is aging at a faster pace than other major advanced nations.According to the data provided by Statistics Korea, the number of people in the senior age group came to 5.36 million
Sept. 29, 2011
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Minister resigns over power cuts
Minister of Knowledge Economy Choi Joong-kyung informed the president of his intention to step down on Tuesday, the ministry said.According to the Ministry of Knowledge Economy, Choi expressed his intention to step down to President Lee Myung-bak after the cabinet meeting Tuesday morning and hand in
Sept. 27, 2011
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Job creation takes center stage in budget
Global economic uncertainty may threaten job-driven growth planThe South Korean government has mapped out its 2012 budget plan aimed at creating jobs, in the hope it will bolster welfare and economic growth and ease the impact of global uncertainties.The budget proposal, to be submitted to the Natio
Sept. 27, 2011
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Korean won worst performer among major currencies
SEOUL, Sept. 27 (Yonhap) -- The South Korean currency fell more than 12 percent to the U.S. dollar in September compared with two months ago on the global recovery woes, making it the worst performer among major 21 currencies, data showed Tuesday.The Korean unit closed at 1,195.80 won per dollar on
Sept. 27, 2011
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Korea's sovereign debt index worsens on financial turmoil
Korea’s sovereign default risks went up last week as the Korean won and the main stock index confronted a selling spree amid growing concerns over the country’s wobbly financial market battered by the deepening fiscal crisis in Europe. The spread on credit default swaps, or CDS, for South Korea
Sept. 25, 2011
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Bahk urges bold, swift action to avert new crisis
WASHINGTON (Yonhap News) -- South Korea's top economic policymaker called Friday for advanced economies to take a more“aggressive, systematic and balanced” approach, based on strong political commitment, to improve fiscal conditions and avert a global financial crisis.“A big worry now is that the cu
Sept. 24, 2011
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Honduras to seek FTA with Korea: trade minister
The Republic of Honduras will push to establish a free trade agreement with Korea, Honduran Trade Minister Jose Francisco Zelaya said Friday.“Honduras and Korea has one trade agreement in place, but we want to take the relations to the level of free trade agreement,” Zelaya said at a press conferenc
Sept. 23, 2011
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Foreign capital outflow top concern for S. Korea: regulator
SEOUL, Sept. 22 (Yonhap) -- South Korea's top financial regulator said Thursday the potential outflow of foreign capital is the biggest concern for the South Korean economy, which is highly vulnerable to external uncertainties. "The rapid outflow of foreign capital is the area we are most worried ab
Sept. 22, 2011
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Korea to face slower growth on global woes
SERI: Dormant global economy will drag down growth to 3.6%Samsung Economic Research Institute on Wednesday said the Korean economy would grow at a slower pace of 3.6 percent next year on dormant global economic conditions.The world economy would also show slower growth of 3.5 percent nex
Sept. 21, 2011
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Customs seizes W42b of fake designer goods
Five suspected members of a South Korean smuggling ring have been arrested on suspicion of producing and selling counterfeit designer goods worth 42 billion won ($36.7 million), the country’s customs office said Wednesday.One person was held in custody and four booked without detention on charges of
Sept. 21, 2011
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Customs agency nabs W2.5tr of foreign currency violations
South Korea’s customs agency said Wednesday that it has clamped down on illegal foreign currency dealings worth 2.5 trillion won ($2.2 billion) so far this year.During the January-August period, the Korea Customs Service said in a report, it detected 1,145 cases of illegal foreign currency dealings
Sept. 21, 2011
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Firms at a crossroads in reinventing CSR
Businesses often view corporate social responsibility as a cost they have to bear in order to maximize profits. The assumption is that company’s core business, especially profits, and CSR projects are not directly related.Kang Joo-hyun, founder and executive president of Global Competitiveness Empow
Sept. 21, 2011
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S. Korea's jobless rate falls to 3 percent in August
SEOUL, Sept. 21 (Yonhap) -- South Korea's jobless rate declined in August from a year earlier as the number of newly created jobs in the country increased, a government report showed Wednesday.The jobless rate stood at 3 percent last month, down from 3.3 percent a year earlier, according to the repo
Sept. 21, 2011
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IMF cuts Korea growth outlook to 4%
The International Monetary Fund on Tuesday revised down its growth forecast for Korea this year to 4 percent from 4.5 percent in its latest World Economic Outlook, citing decreasing demand for exports. It projected Korea to grow 4.4 percent in 2012.The IMF lowered the global growth outlook by 0.3 pe
Sept. 20, 2011
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US economy may not recover as fast as expected: BOK chief
SEOUL, Sept. 20 (Yonhap) -- South Korea's top central banker said Tuesday that the U.S. economy may not recover as fast as expected because its real economic sectors have yet to rebound.Bank of Korea (BOK) Gov. Kim Choong-soo said in a monthly meeting with experts that currently, the real economy an
Sept. 20, 2011