Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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[Today’s K-pop] Stray Kids go gold in US with ‘Maniac’
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Woman dangling from power lines rescued by residents holding blanket
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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[Newsmaker] [DECODED] Lotte’s ownership enigma
Cobweb, computer circuit board and maze. These are some of the words that Koreans use to describe the baffling complexity of the share ownership structure at Lotte Group, a conglomerate whose roots are in Japan but whose mainstay of business is in Korea. By any standard, whether in Korea or Japan, where poor corporate governance is considered a major drag on corporate value, Lotte’s setup looks opaque, antiquated and subpar. The image, prepared by professor Jang Ha-sung of Korea University, show
IndustryJune 21, 2016
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[Newsmaker] Lawyer elected as Rome's first female mayor
ROME (AFP) -- After 2 1/2 millennia of being ruled by men, Rome will wake up Monday under new management.Virginia Raggi was elected Sunday as the Italian capital’s first female mayor, sweeping into city hall on the ticket of the populist Five Star movement with the backing of two thirds of voters. Virginia Raggi (EPA-Yonhap)A Roman born and bred, the 37-year-old lawyer is a political novice, but the campaign saw her grow increasingly assured in her public performances as it became clear she was
World NewsJune 20, 2016
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[Newsmaker] Two more women file rape claims against Park Yoo-chun
Sexual assault charges continue to pile up against JYJ member and actor Park Yoo-chun, 30, with two more women claiming that the idol star raped them, bringing the current total to four potential victims. According to police on Friday, a third and fourth complainant have come forward to file separate charges against Park. One woman claimed that Park had raped her in the bathroom of a karaoke establishment in February 2015, while another told police he had raped her in the bathroom of his house
PerformanceJune 19, 2016
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[Newsmaker] KDB’s integrity questioned amid restructuring drive
[THE INVESTOR] Korea Development Bank, the government-owned bank in the vanguard of the country’s corporate restructuring drive, is finding itself in a crisis of its own. KDB suffered a severe blow to its credibility and integrity Wednesday, when the state audit agency said KDB was partly to blame for problems at Daewoo Shipbuilding and Marine Engineering, including the alleged 1.5 trillion won ($1.28 billion) accounting fraud. As the firm's main shareholder and creditor, KDB had “neglected” its
June 16, 2016
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[Newsmaker] Seoul Mayor struggles in quagmire
At the center of public criticism over the recent safety accident and prolonged conflicts with civic groups, Seoul Mayor Park Won-soon was recently seen taking steps to hear directly from interested parties.Park attended an event Sunday with citizens and a panel of a dozen experts in various sectors who came to state their views regarding lax safety regulations and unstable working conditions of contracted workers. The session was held following the death of a 19-year-old subway mechanic on May
Social AffairsJune 15, 2016
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[Newsmaker] Lotte probe may have political implications
Prosecutors signaled a full-fledged crackdown on South Korea’s fifth-largest conglomerate and retail giant Lotte Group last week with extensive raids, in an apparent move to trace the financial malpractices of its current top executives.The intense probe, coming in the penultimate year of the incumbent presidency, has widely kindled speculation of eventually targeting the previous administration and its links to the feud-ridden conglomerate.Last Friday, Lotte Group was turned upside down as some
PoliticsJune 14, 2016
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[Newsmaker] Hotel Lotte withdraws IPO as embezzlement probe deepens
Hotel Lotte on Monday officially canceled its initial public offering scheduled for next month, as a large-scale embezzlement probe into the group and its affiliates deepened with emerging reports of confirmed wrongdoings.“We are pushing back our IPO to a later time and cancelling all remaining procedures in consideration of Lotte’s current circumstances and investor interests,” Hotel Lotte said in an emailed statement.Hotel Lotte in Seoul (Yonhap)“Listing the company is an integral part of refo
IndustryJune 13, 2016
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[Newsmaker] Ahn Cheol-soo hit by political double whammy
The new 20th National Assembly is just gearing up for a fresh start, but Rep. Ahn Cheol-soo of the People’s Party already finds himself trapped between a nose-diving party approval rating and an illicit fund probe concerning some of his closest aides.Whether or not he succeeds in pulling the fledgling centrist opposition party out of the current trials will also act as a leadership barometer, judging his qualifications for the 2017 presidential election, in which he is expected to make a bid. (Y
PoliticsJune 12, 2016
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[Newsmaker] NHN’s Line to go public in Tokyo, New York
Line Corp., a Tokyo-based mobile messenger platform owned by Korean Internet giant NHN Corp., will go public on the main stock markets in New York and Tokyo next month, the company said Friday.In a regulatory filing, the company said it will begin trading its shares on the Tokyo stock market on July 14th and in New York on 15th.The company will issue 35 million new shares offered at 2,800 yen ($26.20) per share. Goldman Sachs, JPMorgan, Morgan Stanley and Nomura Securities are the lead advisers
IndustryJune 12, 2016
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[Newsmaker] Obama backs Clinton for president
(AP)President Barack Obama endorsed one-time rival Hillary Clinton to be his successor Thursday, signaling to Democrats it is time to unify after a bitter primary campaign and beat Donald Trump."Tens of millions of Americans made their voices heard. Today I just want to add mine," Obama said in a video endorsement. "I'm with her."Their first joint campaign event will take place next Wednesday in Green Bay, Wisconsin.Obama won the state in 2008 and 2012, but Democrats expect a tough fight this ye
World NewsJune 10, 2016
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[Newsmaker] Trump backs down under Republican fire in race row
Trump backs down under Republican fire in race row Donald Trump on Tuesday climbed down under fire from Republican grandees in an explosive race row, insisting that days of belligerent attacks on a Mexican-American judge had been misconstrued.The tycoon, who trails likely Democratic nominee Hillary Clinton in national polls ahead of a November general election, has repeatedly claimed that Federal Judge Gonzalo Curiel, who is handling a lawsuit against the now-defunct Trump University, is biased
World NewsJune 8, 2016
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[Newsmaker] Hilary Clinton: Burning ambition and resilience to match
On the subject of women in politics, Hillary Clinton is fond of quoting the words of another illustrious first lady, Eleanor Roosevelt, who once said: “You need to grow a skin as thick as a rhinoceros.”When out on the stump, in cafes, churches and rallies across the country, Clinton tells a thousand tales of the adversity she has faced down over the course of four decades in public life.“I have the scars to prove it,” quips the 68-year-old, painted by her many enemies as “crooked,” “corrupt” --
World NewsJune 7, 2016
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[Newsmaker] 'He will never die': World mourns Ali
From the White House to Kinshasa and Uzbekistan they remembered on Saturday a sporting and cultural icon, saying there would never be another one like Muhammad Ali, "The Greatest". Ali was recalled not just as a heavyweight boxing king but also for his fight for social justice, while others told moving personal stories of his warmth and generosity, how he was equally at home with presidents and people on the streets. (AFP-Yonhap)President Barack Obama hailed Ali, who died on Friday after a long
World NewsJune 5, 2016
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[Newsmaker] Cheil, Publicis hold unsuccessful merger talks
Merger talks between Cheil Worldwide, the advertising unit of Samsung Group, and Publicis Groupe, the French ad giant, seem to have failed to reach a breakthrough, news reports said Thursday. Samsung declined to confirm the breakdown. The nation's largest conglomerate has sold off less profitable businesses ahead of its leadership transfer to a new generation. “It may be too early to say the talks have failed, but they haven’t narrowed differences in deal pricing and other conditions,” said an i
TechnologyJune 2, 2016
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[Newsmaker] KB to synergize with Hyundai Securities
KB Financial Group will focus on wealth management, corporate and investment banking services, expecting synergy with its newly acquired Hyundai Securities, the group said Wednesday. The Seoul-based group on Tuesday completed the 1.25 trillion won ($1.05 billion) purchase of the securities firm’s shares from Hyundai Merchant Marine of Hyundai Group. With that, KB now controls 22.6 percent of the brokerage company which ranks fourth in the local industry with 3.2 trillion won in assets. “With Hyu
June 1, 2016
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[Newsmaker] Lotte chairman seeks to cement power via IPO
Making a rare appearance as the head of the nation’s fifth-largest conglomerate, chairman Shin Dong-bin met top investors in the country Monday, vowing to improve the transparency of Lotte Group’s governance structure. At an investor relations forum held a month prior to the planned listing of the group’s hotel unit on June 29, Shin said the company will no longer remain a private entity but become “a public and trusted firm.”“Through the upcoming initial public offering, Lotte Group will improv
IndustryMay 30, 2016
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[Newsmaker] Ban’s trip kindles presidential run rumors
U.N. Secretary-General Ban Ki-Moon’s six-day trip in South Korea would have been just a routine visit by the world’s top diplomat to his home state -- if not for the growing anticipation on his potential run in the 2017 presidential election Instead, Ban found himself at the center of national attention. Ever since the 71-year-old diplomat hinted on Wednesday at the possibility of his foray into politics, following his previous 10-year tenure, his every step has been interpreted to take on a pol
PoliticsMay 29, 2016
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[Newsmaker] World leaders open G7 talks
World leaders kicked off two days of G7 talks in Japan on Thursday, with the creaky global economy taking centre stage and disquiet over China's growing influence looming over proceedings.Heads of state and government from the United States, Britain, France, Germany, Italy, Canada and host Japan are meeting in Ise-Shima, a mountainous region about 300 kilometres (200 miles) southwest of Tokyo. The group, including US President Barack Obama -- who is making a historic trip to the atomic-bombed ci
InternationalMay 26, 2016
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[Newsmaker] Samsung to counter-sue Huawei
Samsung Electronics on Wednesday hinted that it might file a counter-suit against Huawei, which has sued the Korean company in the U.S. and China for infringing its technology patents. “We will take countermeasures, including a lawsuit (against Huawei),” Ahn Seong-ho, head of Samsung’s intellectual property division, told reporters after a weekly meeting of Samsung CEOs in Seoul. Samsung Group headquarters (Yonhap)His comment came after the Chinese equipment giant filed patent suits in Californi
TechnologyMay 25, 2016
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[Newsmaker] Green professor wins Austria presidency
Austria came close to becoming the first European Union country to elect a far-right head of state as postal ballots on Monday decided a knife-edge presidential vote in favour of the anti-immigration candidate‘s environmentalist opponent.The results were awaited nervously by governments across Europe, where populist anti-immigration parties have surged over the past year on concerns over a refugee influx, continued weak economic growth and high unemployment.After the election was too close to ca
World NewsMay 24, 2016