Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Pandemic left Korea more depressed than before: report
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Korean labor force to shrink by 10 million by 2044: report
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Gov't appears to shelve punitive measures against mass walkout by doctors
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Govt. asks hospitals to mitigate impact of medical professors' absence
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Allegations surrounding BTS resurface, enraged fans demand apology
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S. Korea's working-age population to dip nearly 10m by 2044 amid low births
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Doggy patrol team on the move to protect their cities
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Korea Finance head offers to resign over Hynix sale
The head of policy lender Korea Finance Corp. offered to resign on Tuesday, taking responsibility for an uproar over the conditions of Hynix Semiconductor Inc.’s sale.Early last month, top mobile carrier SK Telecom and shipbuilding conglomerate STX Group submitted preliminary bids for a 15 percent s
Aug. 16, 2011
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Conglomerates’ market cap slips near 20%
The sharp decline triggers concerns of revisit of 2008 financial crisisThe nation’s top 10 conglomerates’ market capitalization declined significantly, by about 130.46 trillion won ($120.59 billion) in the aftermath of the latest stock market volatility.The amount, tallied as of Aug.12, was roughly
Aug. 15, 2011
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Korea, China may begin FTA talks to boost exports
South Korea and China may start talks on a free trade agreement to increase the export of goods and services between the two countries, South Korean Trade Minister Kim Jong-hoon said. “This can be a win-win,” Kim said Aug. 13 in Manado, Indonesia, where he attended a meeting of Association of Southe
Aug. 15, 2011
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Taxi black boxes protect drivers but invade privacy
Local authorities and taxi operators have eagerly adopted event data recorders, commonly known as black boxes, to protect drivers involved in accidents.However, increasingly common use of such devices in taxis has also given rise to privacy issues. While automobiles are becoming increasingly tech-he
Aug. 12, 2011
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U.S. downgrade may hurt IT, auto exports: report
The U.S. credit rating downgrade is feared to hurt exports of South Korean-made information technology products and automobiles, a report by a private economic think tank said Wednesday.The Hyundai Research Institute report said last week’s move by Standard and Poor’s Ratings Services to cut its cre
Aug. 11, 2011
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Greek economist warns on Korea’s ‘welfare populism’
A prominent Greek university professor and economist has warned South Korea not to repeat his country’s economic mistakes, calling the plan to give free school meals to all students “irresponsible.”“Is it a matter of equality? Of course not. Why middle class Seoul citizens, maybe with no children, s
Aug. 11, 2011
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Firms may rethink U.S. biz strategies
Companies looking for signs of prolonged recession in Europe, U.S.Large Korean companies struggled to appear unfazed but many, especially those dependent on overseas sales, seemed to be rethinking their business strategies in the aftermath of a financial shock stemming from the U.S.Hyundai Motor is
Aug. 10, 2011
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S. Korea's jobless rate falls to 3.3 pct in July
SEOUL, Aug. 10 (Yonhap) -- South Korea's jobless rate declined in July from a year earlier as the number of jobs in the country increased, fueled by exports and expanded industrial output, a government report showed Wednesday.The jobless rate stood at 3.3 percent last month, down from 3.7 percent a
Aug. 10, 2011
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Dow soars 429 points on Fed statement
NEW YORK (AP) _ The Fed spoke _ and financial markets rallied.The Dow Jones industrial average surged more than 429 points, its tenth-highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.The Federal Reserve pledged t
Aug. 10, 2011
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Coming wave of retirements may cause economic disaster for Korea
Experts call for measures to ensure more flexible labor markets, boost birthrateTo mark the 58th anniversary of its establishment on Aug. 15, The Korea Herald is publishing a series of articles on the looming retirement of Korean baby boomers and its socioeconomic impact on the nation. The following
Aug. 9, 2011
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Spy agency to control cyber security
The Korea Communications Commission on Monday unveiled its master plan for cyber security, including expanding inter-governmental cooperation and triggering more participation of private experts, to deal with the rising security threat.The commission, together with 14 other governmental agencies, ag
Aug. 8, 2011
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US downgrade 'sounds alarm bell': China state media
BEIJING (AFP) -- Standard & Poor's US debt downgrade was a wake-up call for the world, a commentary in a top Chinese state newspaper said Sunday, adding that Asian exporters faced special risks.Citing economist Sun Lijian, the People's Daily said Standard & Poor's Friday cut to the US' credit rating
Aug. 8, 2011
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S. Korean shares open 1.4% lower
SEOUL (AFP) -- South Korean shares opened down 1.40 percent Monday following last week's market turmoil and the downgrade to the United States' credit rating by Standard & Poor's.The benchmark KOSPI index was down 27.18 points at 1,916.57 at the open, but it made up ground and had declined 0.5 perce
Aug. 8, 2011
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Gloomy outlook gripping investors, policymakers
Fears of a new financial crisis stoked by last week’s market turmoilFor South Korea, where memories of two major financial upheavals in the late 1990s and 2008 are fresh, the dramatic nosedive of the Seoul bourse on Friday raised investor fears of a third financial crisis.The pattern was eerily fami
Aug. 7, 2011
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Bank of Korea sees no big impact from U.S. rating cut
Aug. 6, 2011
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S. Korea monitoring market response to S&P's U.S. credit rating cut
South Korea is closely monitoring financial market developments following the move by Standard and Poor's Rating Services (S&P) to downgrade the sovereign credit rating of the United States, the government said Saturday.The Ministry of Strategy and Finance said that it will concentrate on controllin
Aug. 6, 2011
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KOSPI plunges below 2,000; Won drops on global woes
Stumped by worries over the global economy and falling oil prices, the country’s benchmark Korea Composite Stock Price Index fell below the 2,000 mark for the first time since March 18.The KOPSI, which began to dip on Tuesday, continued the decline to close at 1943.75 points on Friday, down 3.7 perc
Aug. 5, 2011
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S. Korea's currency remains below pre-crisis level: IMF
The South Korean currency has appreciated markedly over the past few months but its value still remains lower than the pre-financial crisis level, the International Monetary Fund (IMF) said Friday. South Korea's won has appreciated about 6.5 percent against the greenback since the start of this year
Aug. 5, 2011
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Lee vows to overhaul disaster-prevention systems, tighten safety standards
President Lee Myung-bak said Monday the government will overhaul disaster-prevention systems and tighten safety standards, stressing that last month's deadly downpours could repeat next year because of climate change."The abnormal weather pattern that used to come only once in a century has now beco
Aug. 5, 2011
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Obama, buoyed by debt deal, urges Congress to pass FTAs
Immediately after resolving a federal debt crisis, U.S. President Barack Obama called Tuesday for lawmakers to work on free trade deals with South Korea, Colombia and Panama."I want Congress to pass a set of trade deals -- deals we've already negotiated -- that would help displaced workers looking f
Aug. 4, 2011