Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Five lessons of 2013, guaranteed to be forgotten
It’s that time of year when journalists let their creativity run rampant to produce 10-Best and 10-Worst lists, revisit the year’s biggest whoppers (look no further than the Oval Office), and offer prognostications for the coming year. With that in mind, I’ve gleaned the five most important lessons from 2013, which are all but guaranteed to be forgotten next year.No. 1. Beware political pronouncements posing as economic forecasts.Before, during and after the federal government shutdown in Octobe
Dec. 29, 2013
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[Robert B. Reich] Inequality widening in U.S.
It’s the season to show concern for the less fortunate among us. We should also be concerned about the widening gap between the most fortunate and everyone else.Although it’s still possible to win the lottery (your chance of winning $648 million in the recent Mega Millions sweepstakes was one in 259 million), the biggest lottery of all is what family we’re born into. Our chances in life are now determined to an unprecedented degree by the wealth of our parents.That’s not always been the case. Th
Dec. 27, 2013
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Superpowers making strategic moves in Africa
By the looks of it, U.S. President Barack Obama may be close to joining the French in taking on the Chinese ― in Africa.According to my sources in the French government, Obama made it clear to both British and French leadership at the onset of his presidency that he was going to leave it to them to protect unstable African countries while he focused on Sino-American relations. Perhaps Obama realizes that Africa is just an extension of China’s backyard.In a letter to Congress, Obama wrote, “I may
Dec. 27, 2013
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[Hans-Werner Sinn] Measures to rescue Europe
MUNICH ― The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes. The Acquis Communautaire protects all member states’ citizens under the rule of law. Anyone who doubts the existence of these benefits need only look to Kiev’s “Euromaidan,” where hundreds of thousands of people have been gathered for weeks to demonstrate their
Dec. 26, 2013
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[Ching Cheong] Jang Song-thaek’s execution bodes ill for China
The execution of Jang Song-thaek, the No. 2 man in North Korea, took Beijing by surprise and will adversely affect bilateral relations.Beijing’s displeasure is expressed through the publication of a detailed account of Jang’s brutal execution in Wen Wei Po, its official mouthpiece, in Hong Kong, on Dec. 12.According to the report, unlike previous executions of political prisoners which were carried out by firing squads with machine guns, Jang was stripped naked and thrown into a cage, along with
Dec. 26, 2013
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India’s ‘Modi wave’ may lose momentum
As India prepares for national elections in May, what is being called the “Modi wave” seems almost unstoppable. Since naming Narendra Modi ― the controversial chief minister of the state of Gujarat ― as its prime ministerial candidate, the opposition Bharatiya Janata Party has consistently topped opinion polls. Modi’s BJP decimated the ruling Congress Party in recent state elections ― a harbinger, many now believe, of the national outcome.Before they start measuring drapes in Delhi ministries, h
Dec. 26, 2013
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India’s martian chronicles
NEW DELHI ― The news that the Mars orbiter spacecraft Mangalyaan, launched by India on Nov. 5, has left the Earth’s orbit, traversed the moon, and is on course for its ultimate destination, 400 million kilometers away, brought early holiday cheer to Indians. Space missions have become a matter of pride for India, which is already one of the top countries in terms of rocket and satellite technology.Mangalyaan, India’s first inter-planetary satellite, was purpose-built for the Mars mission ― and i
Dec. 26, 2013
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Thailand deserves better democracy
The anti-government protesters want better democracy, not less democracy. Hence they are calling for an overhaul of the political system that will put an end to widespread corruption. Failure to force reforms will leave the country in the grip of its vicious cycle of money politics, abuse of power by elected representatives and corruption in high government. Meanwhile, the next election will only see a bigger flood of money used to retain political control.The importance of elections in a democr
Dec. 26, 2013
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[Lee Jae-min] Korea and illegal fishing
The European Union’s preliminary designation of Korea as a country failing to meet its international obligation to fight illegal, unreported and unregulated (IUU) fishing is an embarrassing development. Although at this time this is meant to be a warning signal only from the EU to push Korea to take remedial action as quickly as possible, it is also probable that the warning turns into an official designation in the future, which may lead to the import ban by the EU of the fisheries products fro
Dec. 25, 2013
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The inaugural naked awards
It’s only when the tide goes out, as Warren Buffett famously said, that you learn who’s been swimming naked. Well, 2013 has been a banner year for skinny-dipping among Asian leaders, central banks and business people.In Japan and South Korea, talk of epochal change from two newish leaders was shown to be empty. China’s supposedly peaceful rise was laid bare by aggressive actions. Hopes that Indian Prime Minister Manmohan Singh would rediscover his reformist roots proved barren. Supposedly omnipo
Dec. 25, 2013
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Ideas and expressions
Barack Obama calls education “the currency for the information age.” Education is, however, based on the genesis of ideas and their expression. In his book “Ideas and Opinions,” Albert Einstein wrote about the importance of opinions and formation of ideas in any scientific discipline. What is an “idea”? It is knowledge, a brainwave or some new germane thinking giving birth to some potential discoveries or inventions. In the discipline of economics, the importance of ideas is not new. Schumpeter
Dec. 25, 2013
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Must Americans accept polygamy alongside gay marriage?
A federal judge last week struck down part of Utah’s ban on polygamy ― the state can no longer prosecute adult men and women who “cohabitate” in numbers larger than the traditional pair. Critics suggested the ruling was a natural next step after the success of same-sex marriage campaigns and lawsuits in recent years.But Kody Brown, the fundamentalist Mormon “Sister Wives” star whose case sparked the ruling, proclaimed it a victory for religious freedom.Is polygamy inevitable? Are we headed down
Dec. 25, 2013
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[Kim Myong-sik] Saving 20 million people from living hell
When news tidbits about North Korea’s “New Economy Management System” trickled out from early July 2012, curious and uneasy observers on the North had some expectations on possible economic reforms under the new leadership of Kim Jong-un. A year and a half later, we are hearing about an indefinite delay, if not total scrapping, of the supposedly innovative plan to improve people’s lives with loosened state control. The world knows that there are two North Koreas on the northern half of the Korea
Dec. 25, 2013
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[Kim Seong-kon] Becoming ‘Flower of Orient’
Psy’s “Gentleman” was recently named “The No. 1 Viral Video of 2013” by TIME magazine and Girls’ Generation’s “I Got a Boy” ranked fifth on TIME’s “Top 10 Songs of 2013” list. Indeed, both Psy and Girls’ Generation have contributed greatly to upgrading the brand value of South Korea. It is undeniable that they have done a splendid job as cultural ambassadors by letting the world know about South Korea. No one can possibly disparage or diminish what they have accomplished.Nevertheless, when it co
Dec. 24, 2013
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U.S. gains ground in war on cultural decay
The U.S. political system is dysfunctional and the economy is still struggling, especially for those in the middle and working classes. But when it comes to the biggest concern of some experts a generation ago ― the decay of our culture ― there is evidence that the country is doing all right.In the 1990s, the conservative Bill Bennett, a former education secretary and drug czar, devised his “Index of Leading Cultural Indicators.” He worried about a pervasive decline in U.S. moral values and “ero
Dec. 24, 2013
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Behind a new principle for national security
As a member of the president’s Review Group on Intelligence and Communications Technologies, whose report was released this week, I was struck by some close connections between debates over national security and debates over environmental protection. In both contexts, many people favor the Precautionary Principle, which can lead in unfortunate directions.In environmental policy, the Precautionary Principle means we should take aggressive action to avoid risks, even if we don’t know that those ri
Dec. 23, 2013
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[David Ignatius] Iran copes, but wants to boom
TEHRAN ― The Iranian economy manages to hobble along despite “crippling” economic sanctions. The streets are clogged with traffic, ATMs dispense streams of cash, banks issue Iran-only debit cards, and a nation of traders finds ingenious ways to evade legal obstacles. Oil exports may have collapsed officially, but several Iranians tell me that many thousands of barrels are leaking out secretly via Iraq. One Iranian businessman explains that you can get under-the-table financing for almost anythin
Dec. 23, 2013
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[Howard Davies] Teaching ECB fox-like tricks
PARIS ― A French business magazine recently ranked IMF Managing Director Christine Lagarde the most internationally influential French person alive ― well ahead of President Francois Hollande. While politics may have influenced that particular decision, there is no doubt that Lagarde is at least the most prominent French woman alive.Lagarde’s competition in this category is not particularly stiff. Valerie Trierweiler, Hollande’s partner, came to prominence with an ill-judged political tweet abou
Dec. 23, 2013
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What an ‘organic’ food label should mean
Many Americans would like to know more about what they eat, including whether the food they purchase contains genetically modified organisms, or GMOs. That desire has sparked ballot initiatives and bitter fights in states across the country. But what a lot of concerned consumers don’t realize is that there is already a way to ensure that the foods they purchase are free of GMOs.During the Clinton administration, we were responsible for implementing the Organic Foods Production Act. One of the im
Dec. 23, 2013
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Why are the Chinese scared of American corn?
Who’s afraid of a little genetically engineered American corn?Chinese quarantine officers apparently. They’ve recently blocked at least six batches (more than 180,000 tons) of American corn from entering China, citing the presence of a genetically-modified strain of the grain that the Chinese government hasn’t (yet) approved for import. The impact has been notable: In recent days U.S. corn futures fell, in part out of fear of further Chinese enforcement action.So far there’s been little coverage
Dec. 23, 2013