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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Korea within reach of becoming 5th largest exporting nation: think tank
South Korea is within reach of becoming the fifth-largest exporting nation in the world, fueled by a steady rise in outbound shipments, a private economic think tank said Sunday. The Hyundai Research Institute said in its latest 2018 export issue review paper that as of September last year, Asia's fourth-largest economy ranked No. 6 among exporters, up from eighth place in 2016. In 2017 its products accounted for 3.6 percent of all exports, a record high for the country.It said the Netherla
Jan. 14, 2018
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Korea's youth unemployment in slump despite global recovery
South Korea's unemployment among the youth remained high with no signs of recovery last year, data showed Sunday, despite solid improvements in the job markets of other advanced economies.According to the data compiled by the Organization for Economic Cooperation and Development, the country's unemployment among those aged from 15 to 24 came to 10.2 percent for the July-September of 2017, marking the third consecutive quarter that the figure hovered above the 10-percent mark.The unemployment amo
Jan. 14, 2018
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Chinese consumers pick safety as top priority for infant goods
Product safety is the top priority for Chinese consumers of infant goods, a report said Thursday.The report by the Korea Trade-Investment Promotion Agency said South Korean companies need to focus on improving the safety of products while making inroads into the infant goods market in China.The number of newborns rose by 1.31 million to 17.8 million in 2016 from a year earlier as the Beijing government lifted the decades old "one-child policy" and allowed couples to have a second child
Jan. 11, 2018
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Moon vows chaebol reform, support for vulnerable groups
President Moon Jae-in on Wednesday reiterated his pledge for conglomerate reform and vowed to protect socially vulnerable clusters from the possible aftermath of the increased minimum wage, underlining his economic slogan for a fair economic order.“Conglomerate reform matters not only for the sake of economic transparency but also in the sense that it may return economic achievements to small and medium-sized firms and to the people,” the president said in his New Year’s addres
Jan. 10, 2018
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Korea faces key trade talks with G-2 economies
South Korea is set to hold tough trade negotiations with the world’s two biggest economies -- the US and China -- this year while navigating rising protectionism around the globe.An early and smooth conclusion of the negotiations, which trade officials here say is far from guaranteed, would help improve external conditions for the Korean economy that relies heavily on exports for growth.According to government data, Asia’s fourth-largest economy saw its exports to China and the US in
Jan. 10, 2018
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Korea's jobless rate edges up in December
South Korea's jobless rate rose slightly in December due to seasonal factors, government data showed Wednesday.The unemployment rate stood at 3.3 percent last month, up 0.1 percentage point from a year earlier, according to the report compiled by Statistics Korea.From a month earlier, it also climbed 0.1 percent. The number of employed people reached 26.42 million last December, up 253,000 from a year earlier, unchanged from the previous month's rise. The unemployment rate for young people
Jan. 10, 2018
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Korea targets 4% growth in exports
Trade officials here expect Korea’s exports will grow 4 percent on-year in 2018.The target is modest compared to last year’s 15.8 percent growth but will still be challenging, as worsening conditions, including the strengthening of the won, are weighing on exporters.Heo Yoon, the dean of the Graduate School of International Studies at Sogang University, said export growth would slow dramatically if such negative factors add to the high base effect.According to Trade Ministry data, As
Jan. 8, 2018
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Gov't finalizes details on tax code revision
SEJONG -- South Korea's finance ministry said Sunday that it has finalized the details on a tax code overhaul whose main features are the levying of an additional tax on owners of multiple homes, a move intended to curb rising housing prices, and the raising of the highest corporate income tax rate.Late last year, the National Assembly approved a bill that, starting in April, will impose an additional tax of up to 30 percentage points on owners of multiple homes.The parliament also passed a bill
Jan. 7, 2018
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S. Koreans' investment in overseas stocks tops US$30 bln last year
South Koreans' investment in overseas stocks came to US$30.5 billion in the first 11 months of last year, central bank data showed Sunday.The figure represents a 55 percent hike from $19.6 billion tallied in the January-November period in 2016, according to data compiled by the Bank of Korea.South Koreans' investment in overseas stocks could hit the highest mark for the whole of 2017 since 2007, when the comparable figures came to $52.6 billion.Meanwhile, South Koreans' investment in overseas bo
Jan. 7, 2018
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Korea's current account surplus narrows to $7.43b for Nov.
South Korea's current account surplus narrowed in November over the previous year, due mainly to a sharp rise in the service account deficit, central bank data showed Friday.The country's current account surplus reached $7.43 billion in November, down slightly from a surplus of $8.03 billion a year earlier, according to preliminary data from the Bank of Korea.November was the 69th consecutive month of a current account surplus, which started in March 2012.The services account deficit widened to
Jan. 5, 2018
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Korea to benefit from opening of China's service market: experts
South Korea is expected to benefit from China's rapidly growing service industry if the two countries agree to upgrade their bilateral free trade agreement to include the service and investment sectors, experts said Friday.South Korea and China implemented the FTA in December 2015 and recently agreed to launch follow-up negotiations to expand the scope of the trade deal to lower barriers in the service and investment sectors.Experts and industry officials expressed hope that a high-level market
Jan. 5, 2018
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Kakao Corp to launch debit cards to compete in offline payment market
Kakao Corp, the operator of the country's top mobile messenger service Kakao Talk, will launch debit cards next week to jump into the offline payment business, company officials said Friday.Promotional events are already under way before the official launch Wednesday for the debit cards that will be linked with Kakao Pay, officials said.Kakao Corp already has debit card services that are partnered with some commercial banks and credit card firms. It is the 10% owner of Kakao Bank, which issues d
Jan. 5, 2018
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BOK chief, finance minister vow firm actions to achieve growth in 2018
South Korea’s top two economic policymakers on Thursday vowed to manage risk factors under the common goal of maintaining the nation’s economic recovery momentum this year.Concerning the recent appreciation of the Korean won, they said that they will take necessary measures against excessive fluctuations in the foreign exchange market.“Despite some downside risks here and abroad, the Korean economy achieved considerable growth last year on the back of strong fiscal policies,&rd
Jan. 4, 2018
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BOK chief, finance minister vow to manage risk factors to fuel economic growth in 2018
South Korea's top economic policymakers said Thursday that they will do their best to manage economic and financial risks to maintain economic growth momentum in the new year."Despite some downside risks at home and abroad, the South Korean economy pulled off favorable growth last year thanks to strong fiscal policies," Bank of Korea Gov. Lee Ju-yeol said in a breakfast meeting in Seoul with Finance Minister Kim Dong-yeon."This year, we expect the economy to continue on the recove
Jan. 4, 2018
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Korea pushes against US import restrictions on washers
WASHINGTON -- South Korea pushed Wednesday to stop the United States from imposing import restrictions on its large residential washers, saying such a move would adversely impact the American economy.A South Korean government and business delegation made the case at a public hearing held by the US trade representative in Washington with only weeks to go before a final decision by President Donald Trump.Kim Hee-sang, a South Korean diplomat in charge of the issue, stressed that "should the U
Jan. 4, 2018
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Financial innovation matters for 3% growth: finance minister
Deputy Prime Minister and Finance Minister Kim Dong-yeon on Wednesday urged the financial circles to grow out of their loan-focused business practices and to play innovative roles so as to contribute to the nation’s growth target this year.He also tendered a private meeting with the Bank of Korea Gov. Lee Ju-yeol, seeking to harmonize the government’s fiscal and monetary policies amid persisting challenges.“The financial circles should play their due rule for the sake of our ec
Jan. 3, 2018
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Employment conditions set to worsen
Concerns are deepening that the country’s employment conditions will continue to worsen this year, leaving young job seekers frustrated and forcing mostly low-wage employees out of work.In his New Year’s message, President Moon Jae-in vowed to place top priority on improving people’s livelihoods.Critics were quick to note his pro-labor and anti-business policies stand in the way of creating more jobs, which hold the key to enhancing the quality of life.A sharp hike in the minim
Jan. 3, 2018
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Korea's working population shrinking faster than in other countries
South Korea's working-age population is shrinking much faster than in other countries after hitting its peak in 2016, a report said Tuesday.According to the Health and Welfare Forum published by the Korea Institute for Health and Social Affairs, only the under-40 population was projected to drop among member countries of the Organization for Economic Cooperation and Development over the 2017-2037 period. The pace of the drop for other age groups was estimated at less than 4 percent.In case of So
Jan. 2, 2018
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Seoul needs to respond with principle to US FTA renegotiation pressure: KITA chief
South Korea must respond to the United States' unprecedented trade pressure with unwavering principle, the chief of the country's leading international traders organization said Tuesday. "South Korean representatives need to sit down at the negotiating table (with their US counterparts) with their two major principles being to focus on trade expansion and the protection of local industries vulnerable to the bilateral free trade pact (with the US)," Kim Young-joo, chairman of the Korea
Jan. 2, 2018
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[Monitor] 41% of South Korean men obese
Four out of 10 men who have received state-run medical checkup as of 2016 were obese, with the obesity ratio among those in their 30s reaching 7.30 percent. In relation to income, men were more prone to be obese when their income was higher, while it was vice versa for women. These and other data were showed in the 2017 obesity white book released by the National Health Insurance Service.The report categorized one as obese when his or her body mass index was 25 or over. BMI of under 18.5 wo
Jan. 1, 2018