Most Popular
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Yoon's approval rating plunges to all-time low
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S. Korea votes in favor of Palestinian bid for UN membership
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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[Editorial] R&D administration
Three years after President Lee Myung-bak abolished the Ministry of Science and Technology to slim down the government, an administrative commission was launched Monday to perform much the same task as the old ministry. Kim Doh-yeon who briefly served as the first minister of education, science and technology under President Lee was named chairman of the new commission.When the transition committe
March 28, 2011
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[Editorial] Nuclear safety panel
The government and the ruling Grand National Party have agreed to upgrade the Nuclear Safety Commission, now under the Ministry of Education, Science and Technology, to an independent, ministerial-level agency by July this year. The decision, announced on Friday, is a welcome move as it would help address concerns about the safety of nuclear plants in Korea caused by the radiation leak at Japan’s
March 27, 2011
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[Editorial] Bank globalization
In early March, outgoing Financial Supervisory Service Gov. Kim Jong-chang issued a strong warning against excessive competition among domestic commercial banks. One example cited by the top regulator, who quit on Friday as his three-year term expired, was the recent scramble among banks to attract big corporate customers. It was triggered by Kookmin Bank, which sought to boost corporate lending b
March 27, 2011
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[Editorial] Electoral divide
No party in Korea truly represents the entire nation, as evidenced by the outcome of the 2008 parliamentary elections. The electoral divide along the boundary between Yeongnam and Honam was as clear-cut as it could be.In the elections, the ruling Grand National Party carried none of the 31 electoral districts in the southwest region of Honam. On the other hand, the main opposition Democratic Party
March 25, 2011
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[Editorial] Cheonan memorial
On March 26 one year ago, 46 South Korean naval crew members were killed when their warship sank in the sea off North Korea’s west coast. Fifty-eight survivors, when rescued, did not know what had ripped their Cheonan warship in two. It took a multinational investigation team two months to confirm that the corvette had fallen victim to a North Korean torpedo attack.There should be many questions t
March 25, 2011
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[Editorial] Misreading Libyan crisis
North Korea has found a new justification for its nuclear weapons program ― the attack on Libya by the United States and its allies. Denouncing the Western countries’ bombings against Libya, a spokesman of the North’s Foreign Ministry asserted on Tuesday that what is unfolding in the North African nation has confirmed once again that “a nation can ensure peace as long as it has the power to do so.
March 24, 2011
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[Editorial] Employment insurance
The government has decided to raise the rate of contribution to the mandatory employment insurance scheme from the current 0.9 percent of the total payroll to 1.1 percent starting April. What this change means is that a worker and his employer both have to pay 1,000 won more in monthly premium per 1 million won of his salary.The 0.2 percentage point increase in the contribution rate may not sound
March 24, 2011
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[Editorial] Moving backwards
Questions are raised about the nation’s electoral watchdog’s move to lift a ban on corporate contributions to political parties. The National Election Commission has decided to submit a revision bill to the political funding law, which would allow corporations and other legal entities to donate to political parties.In a formality taken ahead of launching the legislation process, the commission inc
March 23, 2011
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[Editorial] Screw tightened
LIG Engineering & Construction has filed for court protection from creditors. The request for court receivership was all the more shocking to the housing industry, given that the homebuilder is affiliated with a chaebol.Of course, one main cause of financial trouble for the 47th largest homebuilder in terms of construction capacity was an increase in unsold apartments. Should the court grant prote
March 23, 2011
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[Editorial] Chung Un-chan episode
Chung Un-chan, 62, is an honorable and noble man in the Shakespearean sense, having served as president of Seoul National University for four years and as prime minister under President Lee Myung-bak for a year. An economist with doctorate from Princeton University, Chung now heads a commission dedicated to promoting shared growth between large and small businesses. After a rather short experience
March 22, 2011
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[Editorial] Targeting Gadhafi
After three days of on-and-off airstrikes on Libyan targets, the United States and European nations uniting in military actions against Moammar Gadhafi’s repressive rule are apparently confused about their immediate goal. A cruise missile attack on Gadhafi’s residential compound late Sunday exposed a lack of strategic coordination. The missile that flattened an administrative building in Gadhafi’s
March 22, 2011
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[Editorial] Safe roads
The National Police Agency has designated low-speed driving areas at 61 locations to protect pedestrians. In these “safe life road” zones in urban districts, the maximum speed of vehicles will be limited to 30 kilometers per hour. To enforce the low-speed limit, speed bumps will be installed and the surface of the road will be raised at crosswalks.As the police have confirmed traffic accidents red
March 21, 2011
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[Editorial] Attack on Gadhafi
“Reiterating the responsibility of the Libyan authorities to protect the Libyan population and reaffirming that parties to armed conflicts bear the primary responsibility to take all feasible steps to ensure the protection of civilians …” said U.N. Security Council Resolution 1973 adopted last week.In compliance with this responsibility, the international community is using military force to help
March 21, 2011
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[Editorial] Volcanic eruption?
Pyongyang has repeatedly proposed to hold inter-Korea talks only to be rebuffed by Seoul. The latest proposal is to discuss a potential volcanic eruption on Mount Baekdu, a dormant volcano on North Korea’s border with China.On Thursday, Pyongyang called for talks with Seoul on the possibility of volcanic activity resuming at Mount Baekdu ― discharging hot magma and spewing ash and gases. It propos
March 20, 2011
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[Editorial] Japan and prices
Japan’s devastating disasters are pummeling the Korean currency. The weak Korean won will raise the prices of imported commodities, which will work their way down to consumer prices. Moreover, political instability in the Middle East is pushing up oil prices.All these developments will accelerate increases in consumer prices. The threat to price stability is being renewed at a time when housewives
March 20, 2011
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[Editorial] China’s nuclear push
Alarmed by the nuclear disaster in Japan, China has ordered a comprehensive safety assessment of all nuclear plants under construction and suspended approval of new plants pending formulation of new safety regulations.In a statement released on Wednesday, the State Council urged using “the most advanced standards” for the safety checks and told officials to immediately cease construction of the pl
March 18, 2011
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[Editorial] Quake preparedness
The devastation in Japan unleashed by a 9.0-magnitude earthquake last Friday has heightened awareness of quake risks in Korea, creating an environment conducive to boosting disaster preparedness.On Wednesday, Seoul Mayor Oh Se-hoon said he would make it mandatory for all new public buildings in Seoul to adopt earthquake-resistant design regardless of their size. For this, he said he would ask the
March 18, 2011
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[Editorial] Thawing job market
New jobs are being added as the nation’s economy gains momentum. Last month, the number of people with a job was at 23,336,000, up 469,000 from a year ago. It was the largest monthly gain since July last year. But the government has a long way to go before the jobless rate falls to a tolerable level.According to a report from Statistics Korea, the employment rate, as a percentage of the working po
March 17, 2011
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[Editorial] Who’s populist?
When the main opposition Democratic Party proposed to rein in rising rent prices by capping their increases in January, the ruling Grand National Party accused its adversary of pushing for an irrational populist idea. In an about-face, the ruling party is now moving to adopt the proposal as its policy. Now what will the GNP say about itself?On Wednesday, the ruling party’s task force, working on a
March 17, 2011
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[Editorial] Minimizing Japan risks
The crisis in Japan stemming from a triple disaster ― a 9.0-magnitude earthquake, a subsequent giant tsunami and blasts at a nuclear power plant ― is deepening, causing concern that it could take a toll on the Korean as well as the global economy. Korean policymakers initially said the impact of the Japanese disaster on the national economy would be temporary and limited. They need to change their
March 16, 2011