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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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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S. Korea, Cambodia forge strategic partnership
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Is NewJeans headed for a long 'break'?
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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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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Tariff-free imports of pork, powdered milk increase
Jan. 1, 2012
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Geithner points to China yuan spillover to others
Jan. 1, 2012
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Corporate America’s economic outlook
Jan. 1, 2012
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Korea Post insurance to cut duration gap
Jan. 1, 2012
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Some Democrats to fight Obama on Korea FTA
Jan. 1, 2012
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Seoul shares expected to slip on eurozone woes
South Korean stocks are projected to trend lower in the first week of the new year, weighed down by nagging concerns over the eurozone debt crisis, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.2 percent this week to close at 1,825.74
Dec. 31, 2011
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KCC seeks to revise law on online identification, personal information
The Korea Communications Commission said Thursday that it will consider putting a stop to the system that checks Internet users’ private information and also prohibit the collection of resident registration numbers online. In a briefing on next year’s policies to President Lee Myung-bak, the state media and telecom regulator said it will revise the information and communications network law step-by-step until 2014 to prevent the collection and use of resident registration numbers online.Beginnin
Dec. 29, 2011
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Outbound travelers to hit three-year high
The number of South Korean travelers going overseas is expected to hit a three-year high in 2011 on the back of the rising availability of cheap tour packages and leisure time, government data showed Thursday.A total of 11.97 million South Koreans left the country over the January-November period, up 1.8 percent from the same period last year, according to the data released by the Ministry of Justice.Leading local travel agency Hanatour Service Inc. predicted that the tally will reach 13 million
Dec. 29, 2011
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Year-end tax settlement service available in English
The National Tax Service said Thursday it has updated its English website (www.nts.go.kr/eng), putting out the latest version of its tax guide written in English for foreign residents in Korea. The number of foreign residents filing the year-end tax settlement is expected to reach 403,000 this year, up from 344,000 last year.Foreign residents, as with Korean nationals, are required to submit their tax forms on a yearly basis, and the NTS website provides all the necessary information in English
Dec. 29, 2011
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Korean industrial output grows 5.6 percent in Nov
South Korea's industrial output growth slowed in November, stoking worries that the nation's economy is losing steam due to rising global uncertainties, a government report showed Thursday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 5.6
Dec. 29, 2011
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Korean current account surplus hits 13-month high
South Korea's current account surplus rose to its highest level in 13 months in November as exports of petrochemical goods and cars remained firm, the central bank said Thursday.The current account surplus reached US$5.05 billion in November, up from a revised $4.13 billion the previous month, accor
Dec. 29, 2011
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Korea’s economy at risk of destabilizing factors: minister
Korea needs to stay vigilant against any developments next year as its economy is expected to face many “destabilizing factors” that could weigh on its recovery and growth, the nation’s top economic policymaker said Wednesday.“Economic conditions at home and abroad are expected to be tough next year at a time when the eurozone fiscal debt crisis, major elections and North Korea variables remain in place as destabilizing factors,” Finance Minister Bahk Jae-wan said during a crisis management meet
Dec. 28, 2011
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Korea bracing for fiercer competition under FTAs
South Korea will likely face a markedly changed business environment next year as it is poised to enforce a long-standing free trade agreement with the U.S. that would open up its market and eventually lead to gloves-off competition down the road.The country signed the deal, known as the KORUS FTA, in 2007 but had to wait for years until late November for parliamentary approval due to objections from opposition lawmakers and civic groups. The U.S. Congress approved the pact in October, paving th
Dec. 28, 2011
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Foreign firms say they too help those in need
In this time of giving, not only Korean conglomerates, but also some foreign companies and their chambers here are eager to engage in charitable activities.Countering the local media’s criticism of their “lackluster giving,” members of the foreign business community said they do help those in need.“We do a lot of charitable activities but we don’t receive a lot attention, and then we get a lot of criticism that companies are not giving back, which is not true,” said American Chamber of Commerce
Dec. 28, 2011
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Koreans concerned about inflation
One out of every two Koreans is most concerned about the rising prices of goods and services next year, a recent survey showed on Tuesday.In a survey conducted by the Korea Chamber of Commerce and Industry, 54.6 percent picked inflation as the most burdening factor for the household budget in 2012, followed by remaining loans and a reduction in income with 26.2 percent and 13.4 percent, respectively.The decrease in asset value also took up more than 5.4 percent. The survey was answered by 500 pe
Dec. 27, 2011
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Korean firms in China fare worse this year: poll
South Korean companies operating in China registered worse performances in 2011 than a year ago due to sluggish exports and fiercer competition in the world’s No. 2 economy, a poll said Monday.According to the survey by the Korea Chamber of Commerce and Industry, 44.5 percent of 201 Korean firms operating in China said their sales this year rose 5 percent or higher from a year ago.Last year, 61.8 percent of surveyed companies responded that their sales had climbed 10 percent or more on-year.Acco
Dec. 26, 2011
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Cargo at seaports slips 0.6% in Nov.
The amount of cargo processed at South Korea’s seaports declined 0.6 percent on-year in November due to a large drop in domestic cargo, the government said Monday.The volume of cargo handled at the country‘s seaports came to 107.3 million tons last month, compared with 108 million tons processed in the same period last year, according to the Ministry of Land, Transport and Maritime Affairs. The November figure also marks a significant drop from 112.89 million tons processed a month earlier.The a
Dec. 26, 2011
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Korea eyes $2.5 bln in 2012 fisheries exports
South Korea will seek to sharply increase its goal for fisheries exports in 2012 as overseas demand for them continues to rise, the government said Sunday.The government is targeting fisheries exports of $2.5 billion for the coming year, up from an estimated $2.2 billion for this year, according to the Ministry of Food, Agriculture, Forestry and Fisheries.The ministry had originally planned to achieve the $2.5 billion mark of fisheries exports by 2014.The ministry said it has established a task
Dec. 26, 2011
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BOK under pressure to tighten this week
Dec. 26, 2011
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Korean businesses bracing for escalating uncertainties
Korea is girding itself for a series of external uncertainties surrounding its economy that are expected to reach their peak in the first quarter of next year, officials said Sunday.Amid a global economic slowdown, the bulk of sovereign debts issued by five highly indebted eurozone countries will mature during the January-March period, the most serious risk factor that could rattle financial markets across the globe.Washington’s additional sanctions on Iran for the latter’s suspected nuclear arm
Dec. 25, 2011