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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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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Second Gimpo civil servant found dead, after apologizing for not finishing work
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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[Editorial] ‘Kimchi Chronicles’
Koreans love kimchi so much that they want global citizens to enjoy the unique side dish, which they do not hesitate to identify with the Korean culture itself. The people who make the world’s biggest ships, best color TV sets and cell phones, and increasingly reliable automobiles have wondered why Korean food had to be rated below Thai and Vietnamese, let alone Chinese or Japanese.So, they are th
May 9, 2011
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[Editorial] Unwarranted privileges
Lawmakers of the ruling Grand National Party are taking another crack at curbing the time-old practice of public officials landing high-paying jobs at private companies immediately after retirement. The latest attempt comes in the midst of public anger over officials of the Financial Supervisory Service who have all but monopolized the auditor posts at financial companies after retirement.To addre
May 8, 2011
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[Editorial] GNP power shift
Rep. Hwang Woo-yea, an independent-minded four-term lawmaker, was elected new floor leader of the ruling Grand National Party on Friday, signaling a power shift in the party and the collapse of its mainstream faction loyal to President Lee Myung-bak.Hwang beat Reps. An Kyung-ryul and Lee Byung-suk, both from the pro-Lee camp. In the first round of voting, Hwang won 64 votes out of 159, while An an
May 8, 2011
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[Editorial] Asian solidarity
It is a matter of course that prevention is better than cure. But an Asian financial safety net, designed to fight off future financial crises, cannot be relied to prevent them. Instead, it may be used to take action only when a financial crisis is confirmed to have dealt a blow to a country.This weakness in the Chiang Mai Initiative Multilateralization (CMIM) program, a $120 billion pool of funds
May 6, 2011
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[Editorial] Cyber terrorism
The prosecution’s conclusion on Tuesday that North Korea was to blame for the paralysis of the computer network of the National Agricultural Cooperative Federation is a chilling reminder of the pariah regime’s determination and capability to launch cyber attacks against the South. The prosecutors defined the North’s hacking into the NACF’s computer system as a new form of cyber terrorism. Before t
May 6, 2011
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[Editorial] New regulatory culture
Last Saturday, we called for drastic reform of the Financial Supervisory Services as the powerful regulatory agency exuded the stench of corruption. We were not alone in smelling the odor. President Lee Myung-bak did as well. On Wednesday, Lee made a surprise visit to the FSS to express his fury and disappointment over the regulator’s failure to prevent irregularities at financial companies and FS
May 5, 2011
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[Editorial] Corrupt diplomats
One of the most important tasks for a diplomat is to settle disputes and resolve conflicts through negotiations. But what if he himself should cause a dispute or a conflict, as a former ambassador to an African country may have done?The case in point involved the ambassador who recently returned home after his assignment in the Ivory Coast. Among the items he brought with him from the African coun
May 4, 2011
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[Editorial] Bulging coffers
The nation’s holdings of foreign currency surpassed the $300 billion mark at the end of April. Should the nation confront any financial crisis in the future, these bulging state coffers will be of great help in cushioning the blow.To hold $300 billion in foreign reserves is nothing short of a sea change for a nation that has been exposed to the threat of sovereign bankruptcy on two occasions durin
May 4, 2011
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[Editorial] Union restructuring
The Seoul Subway Union’s exit last week from the “Minju Nochong,” a radical national umbrella union, and its leaders’ move to form a third national union herald drastic changes in the nation’s labor movement. Up to now, labor activities have long been competitively swayed by the two national bodies: Minju Nochong (the Korean Confederation of Trade Unions) and Hanguk Nochong (the Federation of Kore
May 3, 2011
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[Editorial] After bin Laden
As it came after months of pro-democracy upheavals in the Muslim world this year, the news of the death of Osama bin Laden in a U.S. raid on his hideout in Pakistan allows a faint but positive outlook for an end to a decade of intercultural conflicts started by the 9/11 attacks in 2001. Yet, whoever shares this somewhat wishful thinking should be wary of retaliation by al-Qaida militants for the “
May 3, 2011
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[Editorial] Libya bombing
NATO’s bombing of Tripoli on Saturday, which reportedly killed Libyan leader Moammar Gadhafi’s son and three grandchildren definitely went beyond the U.N. Security Council mandate. However the alliance may try to stretch the mission given under UNSC resolution 1973 on Libya, which was to establish a no-fly zone over the country to protect civilians from military attacks, NATO commanders cannot jus
May 2, 2011
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[Editorial] Guryong Village
Guryong Village in the Gangnam district of Seoul represents some of the absurdities in present-day Korea. Many of the people who live in about 1,200 shacks at Guryong Village, located near the plush Tower Palace high-rise block, moved in from other parts of Seoul when they were evicted by city authorities for redevelopment projects in the 1980s. The urban migrants settled at the foot of Guryong Hi
May 2, 2011
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[Editorial] FTA with China
Negotiations will reportedly start on a Korean-Chinese free trade agreement in the near future, possibly as early as in June. A senior Blue House official is quoted as saying that Korea and China will hold a summit this month and declare the launch of negotiations next month.As the official said, China has a strong desire to conclude negotiations on a free trade deal with Korea. But Korea has not
May 1, 2011
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[Editorial] New town plans
A dictionary definition of “new town” is a “planned urban community designed for self-sufficiency and providing educational, commercial and recreational facilities for its residents.” As such, it differs from “settlements that evolve in more ad hoc fashion.”Britain began to build new communities under the New Towns Act of 1946. Many other countries, borrowing from Britain, have since launched simi
May 1, 2011
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[Editorial] Empty slogan
The government is renewing its efforts to advance the service industry. The Ministry of Strategy and Finance has disclosed a new action plan that called for, among other things, a basic law on the promotion of the service industry, the introduction of for-profit hospitals and allowing sales of nonprescription drugs at supermarkets and convenience stores.The renewed push for the service sector is w
April 29, 2011
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[Editorial] Reform of the FSS
The Financial Supervisory Service is in need of drastic reform. The recent series of problems at financial companies and corruption cases involving FSS officials have shown the regulator is not only ineffectual in promoting stability and soundness of the financial market but is corrupt to the bone. In his inaugural address on March 28, FSS Chairman Kwon Hyuk-se disclosed his vision of making the r
April 29, 2011
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[Editorial] Enhancing looks
Veteran singer Yoon Bok-hee said in an interview last week that she was afraid of watching TV these days because she sees so many entertainers who have undergone cosmetic surgery. “With your skin yanked and bone carved, can you correctly express your emotion? With your mouth reconstructed, can you sing normally?” she asked.The 65-year-old singer insists that a truly dedicated actor or singer shoul
April 28, 2011
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[Editorial] Post-poll plans
The electorate in the Bundang B district said no to the status quo and, instead, endorsed a call for change when it elected Sohn Hak-kyu, leader of the main opposition Democratic Party, in the April 27 parliamentary by-election. Of great concern to the conservative ruling party and the liberal opposition party is whether the electoral outcome will prove to be a tempest in a teacup or a prelude to
April 28, 2011
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[Editorial] Pension fund voting
Few would question the “one-share, one-vote” rule as the basic principle behind corporate governance. Nothing would be wrong if the National Pension Service exercises its voting rights, mandated by the number of common shares it possesses, at a listed company’s meeting of shareholders.The National Pension Service is one of the largest institutional investors, which holds more than 5 percent of sto
April 27, 2011
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[Editorial] Trust betrayed
No sane person would deposit a large sum of money with a financial institution if he had no conviction that he would be able to withdraw the deposit at maturity. This depositor trust was betrayed when the Financial Services Commission suspended operations at Busan Savings Bank on Feb. 17.Worse still, what had reportedly happened at the savings bank before it was ordered to suspend operations calls
April 26, 2011