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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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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New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
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[Graphic News] UK tops global chart for child alcohol use
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Seoul, Beijing agree on basic guidelines for FTA negotiations
South Korea and China have reached an agreement on the modality or basic guidelines for their negotiations on a bilateral free trade agreement (FTA), the Seoul government said Friday.The agreement came at the end of three-day talks that ended Thursday in Beijing, according to the Ministry of Trade, Industry and Energy."At this week's meeting, the two sides reached an agreement on the modality for the FTA, concluding the first stage negotiations for the Korea-China FTA that began in May last year
Sept. 6, 2013
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Park calls for closer macroeconomic coordination during G20 summit
South Korean President Park Geun-hye called Thursday for closer macroeconomic coordination among the world's top economies, urging advanced countries to be more careful when changing their monetary policies.Park made the appeal during the opening session of the summit of the Group of 20 major economies in Russia's second-largest city, saying economies around the world are interlinked so much that it is difficult for any one of them to grow alone."In a situation like this where global economies m
Sept. 6, 2013
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Seoul shares open higher on carmakers, techs
South Korean stocks opened higher Friday due to gains on Wall Street in the previous trading session amid improved industry data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.75 points, or 0.14 percent, to 1,954.40 in the first 15 minutes of trading.Shares gathered ground across the board, with No. 1 carmaker Hyundai Motor rising 1.64 percent and top steelmaker POSCO rising 0.46 percent. Leading auto parts maker Hyundai Mobis advanced 0.18 percent.U.S. stocks
Sept. 6, 2013
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S. Korea places import ban on all fisheries products from Japan's Fukushima region
South Korea expanded its import ban on Japan's fisheries products to include all fisheries products from the radiation-hit Fukushima and seven other adjacent prefectures, the government said Friday.The move comes as a widespread radiation scare in South Korea is leading to a sharp drop in the consumption of fisheries products."The measure comes as our people's concerns are growing over the fact that hundreds of tons of radiation contaminated water are leaked daily from the site of Japan's nuclea
Sept. 6, 2013
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Hyundai Motor's labor, management reach wage deal
The labor and management of South Korea's largest carmaker Hyundai Motor Co. tentatively agreed Thursday on a wage deal, putting an end to the ongoing strike.During a new round of negotiations, the two sides narrowed their differences and came up with an interim agreement, which will be put to vote on next Monday.The agreement came after 25 rounds of negotiations over a wage hike and other labor issues that lasted for the past 101 days.Upon the beginning of the talks, Hyundai's unionized workers
IndustrySept. 5, 2013
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DP lawmakers propose tax hikes for the rich
Debates on whether to raise incomes taxes on the wealthy will likely be heated between ruling and opposition lawmakers during the September plenary session of the National Assembly.While the governing Saenuri Party had taken a skeptical stance over demands to increase the tax burden on the high-income bracket, opposition lawmakers have revived the issue.Along with the opening of the plenary session, 10 lawmakers of the main opposition Democratic Party proposed a motion to raise the upper ceiling
Sept. 5, 2013
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[Graphic News] Billion won deposits decline
The number of bank accounts with more than 1 billion won deposited has been decreasing since the second half of last year, according to a Yonhap News report that compiled data from the Bank of Korea and major banks. Analysts attribute the decline to continued low interest rates and depositors’ concerns about the government moving to step up tax probes into the underground economy.
Sept. 5, 2013
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Design emerging as key corporate asset for innovation
This is the fourth installment in an eight-part series that examines the social role of design beyond its aesthetic aspect. The weekly series is a precursor to Herald Design Week 2013 from Oct. 7-11, which will be organized under the theme of “Re-imagine the World.” ― Ed.When Paris Baguette, a leading bakery chain in Korea, announced it would enter the purified water market with its new premium water brand “Eau” in 2010, few expected that the retailer with no experience in the market could survi
BusinessSept. 5, 2013
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[Newsmaker] Hyosung head in trouble for tax dodge claims
S.R. Cho, chairman of Hyosung Group, is coming under increasing pressure over allegations of tax evasion as tax authorities step up their investigation into his financial history.With conglomerate heads known for purchasing airline tickets to get out of tight spots in the past, Cho was banned from traveling abroad, forcing him to cancel plans to go to Vietnam with President Park Geun-hye for her state-visit there.The National Tax Service and the prosecutors’ ramped-up investigations into both pu
Sept. 5, 2013
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Concerns grow over jaw surgery
Concerns are growing over the “double-jaw surgery” mostly performed for aesthetic purposes here, with an increasing number of people reporting serious post-op side effects. A 27-year-old man attempted suicide by jumping into the Hangang River near Mapo-gu, northern Seoul, last month, after suffering from constant and serious jaw pain that started after going through the surgery several months ago. He was saved by a rescue team, but is reportedly still in a coma.In a separate case, a 30-something
TechnologySept. 5, 2013
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Children’s health in changing seasons
In the fall, the increased wind and changes in temperature lead to an unstable circadian rhythm and reduce the body’s immunity. In addition, children go back to child care and school, which leads to increased exposure to respiratory infections due to increased contact with others. Allergies and rhinitis are also common during this season. Children have a weaker ability to control their homeostasis, so they find it more difficult to adjust to rapid changes in the weather. Therefore, it is importa
TechnologySept. 5, 2013
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More than 7,780 Koreans living with HIV
More than 7,780 South Koreans have been infected with HIV, health authorities said Wednesday.The Korea Center for Disease Control and Prevention said 9,410 South Korean were diagnosed with HIV between 1985 and 2012. Among them, 1,622 people died.Last year, 808 South Korean men and 60 South Korean women were newly infected with HIV. The KCDC said 541 out of 868 HIV carriers became infected through sexual contact.The virus, which is also spread through transfusion of contaminated blood, infects ce
TechnologySept. 5, 2013
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Traditional medicine fair to heal minds, bodies of urbanites
CHANGWON, South Gyeongsang Province (Yonhap News) ― The chairman of the executive committee of a traditional medicine fair opening this week said Thursday that the event will strive to cure the minds and bodies of urbanites who require rest from the high-stress modern society.The World Traditional Medicine Fair & Festival will be held in Sancheong County in South Gyeongsang Province, from Friday to Oct. 20, according to the organizers.Choi Gu-sik said he had a special nickname for the event, giv
TechnologySept. 5, 2013
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KT strives to innovate via design
Management via design was traditionally focused on manufactured products ― industrial design being the best-known aspect of “design management” ― and has recently been expanding into service sectors such as mobile operators, airlines, banks and hotels. This may be chiefly because the nation’s top business groups, most of which are manufacturers, are utilizing design as a key asset for their business growth and innovation, while the service industry, in contrast, is still in the developing stages
IndustrySept. 5, 2013
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Korea sells $1b currency stabilization bonds
South Korea has successfully sold dollar-denominated currency stabilization bonds worth $1 billion, the finance ministry said Thursday.This comes a day after the ministry said that it launched the official process for the bond sale with the selection of its lead managers.“We successfully sold $1 billion worth of dollar-denominated currency stabilization bonds with a 10-year maturity at 1:15 a.m. with a great amount of interest from investors in the U.S., Europe, Asia and across the world,” the m
Sept. 5, 2013
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Electronics trade fair IFA to kick off
BERLIN ― This year’s IFA, one of the world’s two largest consumer electronics trade fairs along with the CES in Las Vegas, kicks off on Friday for a six-day run, with buyers, tech enthusiasts and visitors flocking to Berlin to get a glimpse of the latest high-end technology.More than 1,300 electronics firms from 50 countries including Samsung Electronics, LG Electronics, Sony, Acer, Huawei and HTC will exhibit their flagship products and technology, including ultra-high-definition and smart TVs,
IndustrySept. 5, 2013
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SK Hynix monitoring fire damage in China
SK Hynix, the world’s second-largest memory-chipmaker, on Thursday said it expects little to no disruption to its chip supply after a fire that occurred in its Wuxi plant in China, as the equipment was not damaged. “There is no material damage to the (semiconductor) fabrication equipment in the clean room, which is why we expect to resume operations in the near future so that production and supply volume will not be affected,” SK Hynix said in a statement. The company was still investigating the
TechnologySept. 5, 2013
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SK Telecom to provide LTE service with wider bandwidth
Mobile carrier SK Telecom announced Thursday its plan to provide faster LTE services with wider bandwidth and LTE-Advanced services with increased coverage.“We are now able to provide LTE services with wider bandwidth after securing a 35 MHz bandwidth in the 1.8 GHz band in the state-led frequency auction. LTE subscribers will be able to transfer data with speeds of up to 150 Mbps without having to pay any extra fees,” said Park In-sik, SK Telecom’s president of network business operations, duri
TechnologySept. 5, 2013
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Korea’s economy ‘subdued,’ but outlooks improve: KDI
South Korea continues to see its recovery momentum remain “subdued” but the latest indicators are pointing to a “moderate” improvement down the road, a state-run think tank said Thursday.“Korea’s economy remained subdued, but indicators are increasing turning positive, signaling a moderate improvement,” the Korea Development Institute said in its monthly report analyzing the latest economic trend. The report is based on major indicators recently unveiled by the government including corporate inv
Sept. 5, 2013
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Asiana Airlines to cut number of flights to Japan
Asiana Airlines Inc., South Korea’s No. 2 flag carrier, said Thursday that it will begin to cut the number of flights to two Japanese cities next month as a weaker yen takes its toll on the airline business.The carrier said it will cut its number of weekly flights to four from the current seven on the Incheon-Sendai route, beginning early next month. Sendai is one of the places hit hardest by the devastating earthquake and tsunami in 2011. Asiana, however, said the planned cut has nothing do wit
Sept. 5, 2013