Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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14 Korean firms make Fortune 500 list
Samsung Electronics Co. and 13 other South Korean companies landed on the 2013 Fortune 500 list based on sales for fiscal 2012, up one local business from a year earlier, the online edition of the U.S. business magazine Fortune showed Monday.Samsung Electronics, the world’s leading maker of mobile phones and computer memory chips, ranked 14th on the list, up six notches from the previous year. SK Holdings, the holding company of SK Group that has the country’s top mobile carrier SK Telecom Co. u
July 9, 2013
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KCC permits multilingual programs for English FM
The Korea Communications Commission decided to allow the use of multiple languages on English FM radio channels, the commission said Tuesday.Major English FM broadcasters currently in operation in Seoul metropolitan area, Busan and Gwangju are now allowed to schedule non-English programs based on each region’s ratio of foreign residents.English FM was established to provide various information to the increasing number of foreigners visiting and residing in Korea.However, as the number of foreign
IndustryJuly 9, 2013
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Public offices seek to spend W364.7tr in 2014
The Ministry of Strategy and Finance said Tuesday that government agencies requested a total of 364.7 trillion won for spending next year, up about 23 trillion won, or 6.6 percent, from this year.Higher budget demands come as government agencies seek to increase spending on welfare, social security and research and development, the Finance Ministry explained in a press statement.Government agencies allocated expenditures of 342 trillion won, including 98.4 trillion won from public funds, this ye
July 9, 2013
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Indonesia to enhance exchange, cooperation
Indonesian Forestry Minister Zulkifli Hasan attended the 21st Korea-Indonesia Forest Cooperative Committee and the Forest Forum held in Jakarta last week. He showed much interest in cooperation with Korea in boosting forestry resources development. Following is an interview with the minister. Q: Korea and Indonesia are celebrating the 40th anniversary of diplomatic ties. How do you evaluate cooperation between the two countries in the forestry field?A: It was 1968 when a Korean company first ca
July 9, 2013
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Korea boosts cooperation with Indonesia in forestry
Korea Forest Service Minister Shin Won-sop visited Indonesia to discuss cooperation with Indonesian government officials in the forestry field and to participate in a forum last week. He discussed a wide range of issues related to the opening of an eco-education program on forestry near Jakarta, overseas plantation investment and Korean companies’ participation in Indonesia’s development of forestry resources. He also toured Korean companies’ plantations in the Southeast Asian country.Following
July 9, 2013
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Korea needs to boost investment in developing overseas forest resources
When it comes to forest planting, Korea has been widely acclaimed as one of the most successful nations across the world.Beyond forestation, the Korea Forest Service is now leading global efforts to preserve forest resources in the face of the emerging issues of climate change and CO2 emissions.Against this backdrop, the meeting between Korea and Indonesia on cooperation in forestry and the seventh forest forum that took place last week in Jakarta bear much significance. Those meetings were held
July 9, 2013
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Korea helps forestation in Indonesia
Relaxing in a rich forest is a popular getaway these days for people living in a busy city, so they can escape from their hectic lives. While seeing this growing trend in its own land, the state agency Korea Forest Service pledged to help its Southeast Asian neighbors recover their rich greenery and create educational and recreational forests in the region where deforestation is occurring rapidly due to industrialization. As the first move in such efforts, Korea and Indonesia had a ministerial m
IndustryJuly 9, 2013
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Companies turn eyes to overseas plantations
More and more Korean companies are turning their eyes to overseas plantations as part of their investments.Unlike other industries suffering from the global protracted economic slump, companies’ investments in overseas plantations have dramatically increased, according to the Korea Forest Service.In a report released by the KFS last month, Korean companies established forest plantations of about 26,000 hectares ― 90 times the size of Yeouido ― in six countries. They included Indonesia, Cambodia,
July 9, 2013
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S. Korea, Russia to cooperate on harbor development in Far East, Arctic Sea
South Korea and Russia agreed Tuesday to cooperate on developing harbors in the Russian Far East and the Arctic Sea as well as on other projects as part of efforts to boost bilateral ties, Seoul's finance ministry said.The two countries also agreed to improve cooperation in such fields as trade, investment, resource development and agriculture, according to the ministry.The agreements were reached at a South Korea-Russia joint committee meeting on the economy, science and technology held in Seou
July 9, 2013
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Seoul shares gain 0.74 pct on eased China woes
South Korean stocks closed 0.74 percent higher Tuesday as worries about a worsening Chinese economy eased, analysts said. The local currency rose sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.50 points to finish at 1,830.35. Trading volume was light at 254.4 million shares worth 3.11 trillion won (US$2.71 billion) with gainers outpacing losers 499 to 286. "Some predicted a 6-percent level on-year growth for China. But investors seem to have d
July 9, 2013
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Seoul shares up 0.31 pct in late-morning trade
South Korean stocks traded 0.31 percent higher late Tuesday morning, as large-cap firms narrowed gains from earlier sessions amid a foreign net selloff, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 5.61 points to 1,822.46 as of 11:20 a.m.Samsung Electronics narrowed its gains to advance 0.6 percent, with auto parts maker Hyundai Mobis staying almost flat. No. 1 mobile carrier SK Telecom lost 0.7 percent, with state-run electricity provider Korea Electric Power
July 9, 2013
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Seoul shares open higher on U.S. gains
South Korean stocks got off to a strong start Tuesday, buoyed by Wall Street gains overnight on signs that the world's No. 1 economy is improving as it starts earnings season, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.65 points, or 0.37 percent, to 1,823.50 in the first 15 minutes of trading. Top-listed companies were bullish, led by market heavyweight Samsung Electronics going up nearly 2 percent. Major banking group Shinhan Financial also gained 1 percent. T
July 9, 2013
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Study: Air pollution cut northern China lifespans
A new study links heavy air pollution from coal burning to shorter lives in northern China. Researchers estimate that the half-billion people alive there in the 1990s will live an average of 5{ years less than their southern counterparts because they breathed dirtier air.China itself made the comparison possible: for decades, a now-discontinued government policy provided free coal for heating, but only in the colder north. Researchers found significant differences in both particle pollution of t
TechnologyJuly 9, 2013
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FSS to rein in pay for top insurance, securities execs
The nation’s financial regulator plans to widen its investigation into the incomes of bank executives to heads of insurance and securities companies.The Financial Supervisory Service said Monday that it would launch an investigation into the annual paychecks of every single executive of insurance firm and brokerage. The investigation will take place before the turn of the year, the regulator said. The move came about two weeks after the FSS officially confirmed its decision to screen the annual
July 8, 2013
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Korea to overhaul monitoring of state enterprises
The Ministry of Strategy and Finance said Monday that it would overhaul its management and evaluation systems of state-run enterprises and institutions to boost their transparency and efficiency.It said that the government would strengthen its monitoring of state-owned enterprises to see whether they are efficiently managing their debt and human resources.This is part of efforts to wind down the debt that has adversely contributed to an overall increase in national obligations.Also, the governme
July 8, 2013
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Crew tried to abort landing before San Francisco crash
The doomed Asiana Airlines jetliner that smashed into a seawall bordering a San Francisco International Airport runway Saturday had been flying so slowly that it nearly stalled, U.S. investigators said Sunday, San Francisco time. The crew made a failed attempt to abort the landing but it was too late, according to a preliminary review of flight data and cockpit communications by the National Transportation Safety Board.Two Chinese teenage girls were killed and more than 180 people were injured i
IndustryJuly 8, 2013
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[Graphic News] Investment Banks cut global growth outlook to 2.9%
The average global economic growth outlook for this year provided by 11 foreign investment banks in June was 2.9 percent, a 0.2 percent decrease from the 3.1 percent previously estimated at the end of last year. Korea’s growth forecast was reduced to 2.7 percent from 3.0 percent. The figure was compiled by Yonhap News based on data from financial institutions.
July 8, 2013
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Incheon, Asiana popular among Chinese passengers
Incheon International Airport and Asiana Airlines have grown popular among Chinese travelers over recent years as a pleasant intercontinental flight transfer channel. Of the 291 passengers who were on board Asiana Airlines’ Boeing 777 that crash-landed in San Francisco on Saturday, local time, 141 were of Chinese nationality.This was almost double the number of Koreans or Americans, at 77 and 61, respectively.The deaths in the crash were two Chinese teenage girls, Ye Mengyuan and Wang Linjia, wh
July 8, 2013
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Pilot error or mechanical problem?
The investigation into the cause of the Asiana Airlines Flight 214 crash landing at San Francisco International Airport on Saturday (San Francisco time) is making progress just one day after the accident that killed two passengers and injured about 180 others.The U.S. National Transportation Safety Board and the Korean inspection team dispatched to the crash site revealed some of the facts of the moments just before the landing and the investigation of the pilots.The focus of the joint investiga
IndustryJuly 8, 2013
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Korean phones most popular in EU: KOTRA
Backed by the rise of K-pop and the effectuation of the Korea-EU Free Trade Agreement, Korean mobile phones have become the most popular product in the European market, according to the Korea Trade-Investment Promotion Agency.The Korean Wave and the bilateral trade pact, in a combined score, have so far produced an economic effect equivalent to 1.58 trillion won ($1.37 billion), the state-run agency said Monday through a report.The effect of the former was some 665.6 billion won, almost double t
July 8, 2013