Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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'Queen of Tears' riding high on Netflix chart
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Speaker floats dual citizenship as solution to falling births
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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Police seek arrest warrant for med student who killed girlfriend
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New EU envoy hails trade pact
Kozlowski calls Korea-Europe FTA a win-win deal benefiting businesses, consumersThe Korea-EU free trade agreement expected to come into force in July will benefit businesses, workers and consumers of both economies, Thomas Kozlowski, the new EU ambassador to Seoul, said Friday. The European Parliament approved the landmark accord on Thursday. Korea seeks a parliamentary ratification during an extr
Feb. 18, 2011
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TV license fee increases to 3,500 won per month
The state media regulator, Korea Communications Commission, on Friday approved public broadcaster KBS’s request to increase the monthly viewing fee by 40 percent to 3,500 won ($3).The decision was made during its general meeting from which two of the five commissioners walked out in protest.Households with television sets are all currently obliged to pay a fixed fee of 2,500 won under the Broadcas
Feb. 18, 2011
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Watchdog OKs 40-pct rise in KBS subscription fee
South Korea's communications regulator approved on Friday a 40-percent increase in the subscription fee for public broadcaster Korea Broadcasting System (KBS). The rise in the KBS subscription fee by the Korea Communications Commission is subject to approval by the National Assembly. Should the proposal win parliamentary approval, KBS's subscription fee will increase to 3,500 won (US$3.14) from
Feb. 18, 2011
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KEPCO to spend W8tr on smart grids by 2030
Korea Electric Power Corp. said Friday that it will invest 8 trillion won ($7.2 billion) in smart grids until 2030. A smart grid is a new electric transmission system that allows two-way communication, as well as trade, between suppliers and consumers. KEPCO will spend 400 billion won a year for the next five years to improve facilities for the supply and distribution of electricity, the company s
Feb. 18, 2011
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Foot-and-mouth to subside by early March: minister
Korea‘s severest foot-and-mouth disease outbreak is expected to come under control by early March as nationwide vaccination efforts take effect, a senior policymaker said Friday.In a radio interview with a local broadcaster, Farm Minister Yoo Jeong-bok said the number of FMD cases has started to fall off in recent weeks after the first round of nationwide vaccinations have been completed on all ca
Feb. 18, 2011
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POSCO to increase cost-cutting on ore, coal prices
POSCO, the world’s third-biggest steelmaker by output, and its units raised their cost-cutting target for this year by 20 percent to sustain profits amid rising iron ore and coal prices.The group aims to cut overall costs by 2.4 trillion won ($2.2 billion) this year from a previous target of 2 trillion won in an effort to “Improve competitiveness,” Chung Jae-woong, a spokesman for Pohang, Korea-ba
Feb. 18, 2011
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EU-Korea FTA brings huge economic benefit: EU diplomat
A free trade pact between South Korea and the EU will bring great economic benefit to both sides, and break ground for the consolidation of the two markets, an EU diplomat said Friday. On Thursday, the European Parliament approved the free trade pact with South Korea, bringing it one step closer to coming into force this July. Seoul and Brussels signed their bilateral free trade agreement (
Feb. 18, 2011
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EU Parliament OKs free trade pact with S. Korea
The European Parliament approved a free trade pact with South Korea on Thursday, bringing it one step closer to coming into force this July, diplomatic sources said. The trade accord, adopted in Strasbourg, France, during the European Parliament's plenary session, is the most ambitious free trade pact the European Union (EU) has so far negotiated, and the first of its kind with an Asian country
Feb. 18, 2011
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Better biz environment eyed to lure foreign firms
Korea will take steps to improve its overall business environment to world-class levels by 2014 so it can better attract foreign firms and investors, a senior policymaker said Thursday.In a meeting with executives of foreign-invested companies and diplomats in Seoul, Knowledge Economy Minister Choi Joong-kyung said a “three-year foreign investors plan” will be established by March that aims to rev
Feb. 17, 2011
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Koreans move less amid property slump
Korea’s population mobility fell in 2010 as people were discouraged from moving amid slumping property market conditions, a government report showed Thursday.According to the report by Statistics Korea, a total of 8.23 million people changed their legal residence last year, down 3.1 percent from a year earlier. This marked the fourth consecutive year with less movement since 2007 when the mobility
Feb. 17, 2011
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Fed officials slightly more upbeat on economy
Central bank upgrades 2011 growth forecasts, but remains pessimistic on jobsWASHINGTON (AP) ― Some Federal Reserve officials last month raised the possibility of scaling back the Fed’s $600 billion Treasury bond purchase program out of fear that a strengthening economy could spur high inflation.The minutes from the Fed’s Jan. 25-26 meeting were released on the same day that the government reported
Feb. 17, 2011
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Obama wants FTAs with Korea, Colombia, Panama ratified this year: Geithner
WASHINGTON (Yonhap) -- The Obama administration is committed to pass through Congress pending free trade deals with South Korea, Panama and Colombia this year, Treasury Secretary Timothy Geithner said Wednesday. "We would like to pass all of them, alongside trade adjustment assistance, and we want to do it this year," Geithner told a Senate Finance Committee hearing. "They're overwhelmingly i
Feb. 17, 2011
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Unemployment rate drops to 3.8% in Jan.
Korea’s jobless rate fell in January from a year earlier as the non-farm private sector expanded recruitment amid the economic recovery, a government report showed Wednesday.The jobless rate was 3.8 percent last month, down from 5 percent from a year earlier, according to the report by Statistics Korea. But it was up from the previous month’s 3.5 percent.The number of working people stood at 23.19
Feb. 16, 2011
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S. Korea's air traffic grows in Jan.
South Korea's air traffic grew last month from a year earlier as the global economic recovery boosted flight demand, the transportation ministry said Wednesday. South Korean air authorities controlled a total of 41,845 airplanes flying in and out of the country last month, up 8.7 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. This marked the 19
Feb. 16, 2011
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S. Korean insurers' 2010 net likely to top 6 tln won
South Korea's life and non-life insurers are expected to post a combined net income of more than 6 trillion won (US$5.3 billion) in fiscal 2010 on strong sales and big players' impressive performances, data showed Wednesday. The combined earnings of the country's 16 life insurers and 15 non-life insurers in the first three quarters of fiscal 2010 totaled 4.54 trillion won, according to the data
Feb. 16, 2011
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S. Korea's jobless rate drops to 3.8 pct in Jan.
South Korea's jobless rate fell in January from a year earlier as the non-farm private sector expanded recruitment amid the economic recovery, a government report showed Wednesday. The jobless rate was 3.8 percent last month, down from 5 percent from a year earlier, according to the report by Statistics Korea. But it was up from the previous month's 3.5 percent. The number of working people st
Feb. 16, 2011
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Korea aims to be world’s No. 4 fisheries exporter
Korea aims to become the fourth-largest fisheries exporter in the world by 2020 through better marine resources management and creation of large, globally competitive fishing companies, the government said Tuesday.The Ministry for Food, Agriculture, Forestry and Fisheries said that the country will move to push up exports to $5.5 billion in the target year from around $1.8 billion shipped out in 2
Feb. 15, 2011
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Korea ranks 5th in global auto production
Korea retained its status as the world’s fifth-largest automaking nation last year with over 4.2 million vehicles produced, a local industry body said Tuesday.The country’s five automakers produced some 4,272,000 cars in 2010, up 21.6 percent from a year earlier, according to the Korea Automobile Manufacturers Association (KAMA).China, the world’s largest market for automobiles, became the world’s
Feb. 15, 2011
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Foreign investors see KT shares as ‘undervalued’
HONG KONG (Yonhap News) ― Shares of Korean telecom giant KT Corp. are seen as undervalued among foreign investors, as Korea’s telecom industry is expected to further expand, boosted by smartphones, financial sources here said Monday.“Institutional investors in Hong Kong as well as in Singapore are looking into opportunities to buy KT shares, as they consider those shares are substantially underval
Feb. 15, 2011
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Korea posts trade surplus for 12 straight months in Jan.
Korea posted a trade surplus for 12 straight months in January, driven by robust exports of ships and vehicles, the nation’s customs office said Tuesday.The trade surplus amounted to $2.92 billion last month, according to data provided by the Korea Customs Service. This marked the 12th consecutive month of surplus since February 2010.Exports totaled $44.68 billion, up 45.4 percent from a year earl
Feb. 15, 2011