Most Popular
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Debate on 'no-seniors zones' heats up
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Is NewJeans headed for a long 'break'?
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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S. Korea, Cambodia forge strategic partnership
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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What's next for the government's push in quota hike?
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Seoul, Washington to kick off FTA talks next week
South Korea and the United States are to start the first round of negotiations to amend their bilateral Free Trade Agreement on Jan. 5 in Washington, Seoul’s Trade Ministry said Wednesday.The move to revise the 5-year-old trade deal, triggered upon US President Donald Trump’s request, is expected to raise differences between the two countries regarding their stances toward the automobile and agricultural and livestock goods sectors.“During the forthcoming negotiations, we plan
EconomyDec. 28, 2017
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Korea to provide more frequency bands for new industries, social infrastructure in 2018
In a move to make South Korea a more convenient and safe country, the government will increase the supply of frequency bands for emerging industries and households next year by easing related regulations, the Ministry of Science and ICT announced Thursday. As part of the government’s plans for a 3 percent growth next year, the ICT Ministry unveiled its plan to provide frequency bands and set standards for new industries such as autonomous driving, wireless charging, Internet of Things and drone
TechnologyDec. 28, 2017
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[Newsmaker] Korea's Drug Ministry confirms safety of locally-sold sanitary pads
South Korea’s Ministry of Food and Drug Safety on Thursday concluded that the level of chemical substances found in sanitary pads sold here are not hazardous to the human body. The conclusion came after the ministry conducted toxicity tests on sanitary pads, tampons, panty liners and diapers sold in Korea to check for levels of 74 volatile organic compounds such as cholorobenzene and acetone.“After conducting reviews and toxicity tests on 74 VOCs found in sanitary pads, we’ve concluded that thei
IndustryDec. 28, 2017
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President Moon vows support for scientists, new research
President Moon Jae-in promised to double support for young scientists and their research projects Thursday, also vowing to nearly double government investment in independent research and development programs."The government will support with all its strength the path of science that you will walk," the president said in a meeting with some 200 students at his office Cheong Wa Dae. The participants included some 150 college students on a presidential science scholarship program."First of all, we
TechnologyDec. 28, 2017
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Samsung Heavy Industries to sign W210b deal to build LNG carrier
Samsung Heavy Industries said Thursday that it will sign a deal worth 210 billion won ($195 million) to build a liquefied natural gas carrier.It will ink the contract with a foreign shipping company by the end of the year, Samsung Heavy Industries officials said. The name of the company, however, remained undisclosed. (Yonhap)With the deal, orders secured by the shipbuilder this year will reach $6.9 billion for 28 ships, surpassing its annual target of $6.5 billion. The ship maker also said it
IndustryDec. 28, 2017
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2017 foreign-language newspaper journalist awards held
The Foreign Language Newspapers Association of Korea awarded outstanding reporters of the year at a ceremony held at the Korea Press Center in Seoul on Wednesday. Song Su-hyun, reporter at The Korea Herald, Lee Hee-soon, international desk editor at the Korea Times, Seo Ji-eun, senior reporter at Korea JoongAng Daily, and Wang Haina, reporter at Aju News, were awarded during the event. From left, The Korea Herald reporter Song Su-hyun, Korea JoongAng Daily senior reporter Seo Ji-eun, Foreign La
IndustryDec. 28, 2017
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'Exclusive' contracts between business partners to be banned: FTC
South Korea unveiled a series of measures Thursday aimed at promoting "fair" transactions between large firms and smaller business partners, the centerpiece of which is preventing "exclusive" contracts. Under the measures, the Fair Trade Commission, the country's corporate watchdog, said the government will step up efforts to raise transparency in transactions between large players and smaller ones. In such dealings, bigger companies have used their dominant market positions to excessively engag
IndustryDec. 28, 2017
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Govt. to require real-name transactions in cryptocurrency trading
The government said Thursday it is banning the use of anonymous virtual accounts in cryptocurrency transactions as part of efforts to curb virtual currency speculation.Hong Nam-ki, minister of the Office for Government Policy Coordination, made the announcement after a meeting of vice ministers from related ministries, saying the government "can't let this abnormal situation of speculation go on any longer."Under the measure, only real-name bank accounts and matching accounts at virtua
MarketDec. 28, 2017
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Hyundai Motor, foreign brands ordered to recall nearly 1m vehicles: ministry
Hyundai Motor Co. and several foreign automakers will voluntarily recall nearly one million vehicles to fix faulty parts, the transport ministry said Thursday.Hyundai Motor's recall -- set to begin on Jan. 4 -- affects 510,265 units of the Sonata NF built between Jan. 5, 2004 and Dec. 12, 2013, the Ministry of Land, Infrastructure and Transport said.The ministry said 405,018 units of Grandeur TG sedans produced between Sept. 23, 2004 and Dec. 10, 2010 are also subject to the voluntary recall mov
MobilityDec. 28, 2017
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BOK to keep expansionary monetary policy in 2018
South Korea's central bank said Thursday that it will maintain an expansionary monetary policy next year, but it will keep close tabs on economic conditions in order to tailor its policies accordingly."The domestic economy is expected to pull off stable growth next year, but the central bank will stay expansionary on low inflationary pressure," said the Bank of Korea in a report on its annual monetary strategy for 2018. "While closely looking into growth and consumer prices, the B
EconomyDec. 28, 2017
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Financial regulator warns of bitcoin bubble
The chief of South Korea's financial watchdog has warned against a bitcoin bubble, saying the price of the virtual currency may plunge in the future."I bet the bubble in bitcoin will burst later," Choe Heung-sik, governor of the Financial Supervisory Service, told a year-end meeting with journalists Wednesday. "Companies existed during South Korea's IT bubble in the early 2000s, but that is not the case for bitcoin."The regulator hinted that South Korea has no solution to the
MarketDec. 28, 2017
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Cosmetics industry eyes growth recovery in 2018
South Korea's cosmetics industry is looking to regain growth in 2018 after taking a big hit from China's retaliation against Seoul over a missile row this year, sources said Thursday.In March, China banned sales of group tours to South Korea in retaliation against Seoul's decision to deploy an advanced US missile defense shield, which Beijing sees as a security threat.The move has dealt a big blow to South Korean cosmetics manufacturers and retailers, whose main customers were Chinese tourists.T
IndustryDec. 28, 2017
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Korea, US to kick off trade deal renegotiation next week
WASHINGTON -- South Korea and the United States will kick off negotiations to amend their bilateral free trade agreement next week, Seoul's trade ministry said Wednesday.The first round of talks will be held in Washington on Jan. 5 following months of preparation triggered by the Donald Trump administration's request to revise the pact.US President Trump has blamed the five-year-old deal, known as KORUS, for the growing US trade deficit with South Korea. But Seoul has pointed to macroeconomic fa
EconomyDec. 28, 2017
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Korean firms downbeat on Jan. biz outlook
South Korean companies are pessimistic about their business conditions in 2018 due to unfavorable factors at home and abroad, a poll showed Thursday.The business survey index of the nation's top 600 firms by sales came to 96.5 for January, unchanged from the previous month, according to the Korea Economic Research Institute.It marks the 20th straight month that the index has hovered below the benchmark 100.A reading below 100 means pessimists outnumber optimists, while a reading above the benchm
IndustryDec. 28, 2017
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Korea's industrial output rebounds in November
South Korea's industrial output rebounded in November from a month earlier on an improvement in the automaking and machinery sectors, government data showed Thursday.Production in the mining, manufacturing, gas and electricity industries rose 0.2 percent on-month in November, following an adjusted 1.5 percent on-month dip in the previous month, according to the data by Statistics Korea.From a year earlier, industrial output, however, sank 1.6 percent, following a 6.1 percent on-year decline in O
IndustryDec. 28, 2017
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Samsung leaders’ stock value surges by W6tr
The family members in control of the Samsung empire have earned nearly 6 trillion won ($5.6 million) in stock value increases this year, despite a series of unfortunate events that suspended the planned generational transfer of power.Samsung Chairman Lee Kun-hee saw his stock value rise by nearly 4 trillion won this year, due to a stock rally the tech giant continued throughout the year, CEOScore, a local corporate tracker, said in its report released Wednesday.Though Lee has been hospitalized s
IndustryDec. 27, 2017
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Economic policies to focus on improving quality of life in 2018
South Korea’s key economic policy goal for next year is to create jobs and innovate growth, under a mid- and long-term vision to improve people’s quality of life, the Ministry of Strategy and Finance said Wednesday.The nation’s economy is expected to grow 3 percent next year on the back of a solid global economy and a series of policy measures by the Moon Jae-in administration, while the per capita gross national income will reach the $30,000 level, according to the ministry.&l
EconomyDec. 27, 2017
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Thousands of bakers at Paris Baguette give up direct hiring
More than 4,100 bakers at Paris Baguette, South Korea's largest bakery franchise, have opted not to be directly hired by the franchise operator SPC Group in a snub to the government.The Ministry of Employment and Labor has said SPC Group should directly hire bakers, saying that the food and beverage giant violated the country's labor laws in connection with the hiring conditions of more than 5,300 bakers and cafe workers at its franchise stores.The bakery chain has been accused of giving direct
IndustryDec. 27, 2017
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Sanitary pads, face masks to list all ingredients on packaging
The Ministry of Food and Drug Safety on Wednesday announced its main policy changes regarding consumer safety for the upcoming year including stricter regulations regarding ingredient labeling.The policy changes included those addressing major consumer safety crises in 2017 involving traces of pesticides found in eggs, as well as volatile organic compounds found in menstrual care products.The ministry will expand the categories of products that will be required to label all ingredients to includ
IndustryDec. 27, 2017
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[Newsmaker] Will Samsung unveil foldable phones next year?
Anticipation is rising over Samsung’s foldable smartphone, with concept images and videos of the so-called Galaxy X making the rounds every month. However, industry insiders are cautious about the high expectations, saying there are still many unaddressed technical challenges. A new concept video of the Galaxy X from US tech media outlet Tech Configuration caught attention Wednesday. It showed that the device’s 5-inch display can be used as a normal smartphone in the folded mode and as an 8-inch
TechnologyDec. 27, 2017