Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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[KH Explains] Why Korea's so tough on short selling
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US military commander in S. Korea during Gwangju uprising dies
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Actors involved in past controversies return first via streaming service originals
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[Photo News] Seoul seeks 'best sleeper'
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Korea’s tradition of propriety: Godsend for network age
In this age the complex relations developing between individuals outside of the workplace or the family, whether those that develop through online communications within organizations, or those found in social networks such as Facebook, LinkedIn and Twitter, are having a profound impact on our society. Connections between people from vastly different backgrounds, who serve at different levels within organizations, can subtly, or bluntly, influence policy. Almost all actions within social networks
ViewpointsJan. 25, 2012
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A ‘New Model’ for engaging North Korea
In North Korea, the king is dead, long live the king. Now what? I say we need to find a new way forward. Let me explain. At its meeting last October, the World Economic Forum’s Global Agenda Council for Korea (http://www.weforum.org/content/global-agenda-council-korea-2011) called for a “New Model” for relations between North Korea and the world. That call is even more valid with the death of Kim Jong-il. I chaired that Global Agenda Council and I will present the “New Model” at the WEF’s full m
ViewpointsJan. 25, 2012
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[Benedicta Marzinotto] What will banks do with the ECB’s wall of money?
BRUSSELS ― Throughout the crisis period, the European Central Bank’s behavior has been conditioned by the tension between what it can do and what it is allowed to do.The ECB is the only institution in the European Union that is able to provide unlimited funding to governments, but its governing statute prohibits government bailouts. Nonetheless, the ECB has provided large amounts of liquidity to the financial system, indirectly softening the pressure on government debt refinancing. For 18 months
ViewpointsJan. 25, 2012
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[Editorial] Trust in court
“Broken Arrow,” a court drama film depicting a laid-off professor’s unsuccessful challenge to what he believed were unjust legal proceedings, was a box office leader during the lunar New Year holiday. It can be taken as yet another testimonial to the dwindling public trust in the nation’s justice system, although some attribute its success to the popularity of the two top actors Ahn Sung-ki and Moon Sung-keun.It was only last autumn that another court film, “Dogani (Melting Pot),” stirred contro
EditorialJan. 24, 2012
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[Editorial] New crematorium
Changes are happening fast in Korea, even in such tradition-bound areas as funeral culture. In 2000, only about one-third of the dead were cremated; now more than 70 percent of families choose not to bury the dead in tombs. They extend their funeral period by one or two days to secure a slot in the crematorium operated at full capacity.High expenses for burial with limited availability of cemetery spaces and the posterity’s uncertain prospect for properly taking care of the ancestors’ tombs are
EditorialJan. 24, 2012
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U.S. forces not retreating from Europe
In planning to withdraw two of the U.S.’s four combat brigades from Europe, the Barack Obama administration is drawing on an unlikely inspiration: Donald Rumsfeld, when he was secretary of defense under President George W. Bush, wanted to do the same thing (the wars in Iraq and Afghanistan made the idea moot). Not that this will make Obama immune to partisan criticism: Howard P. “Buck” McKeon, the Republican chairman of the House Armed Services Committee, likened the administration’s proposed de
ViewpointsJan. 24, 2012
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[Lee Jae-min] Who rates sovereign states?
Moody’s Investors Service, Standard & Poor’s and Fitch Ratings are the troika of U.S.-based global credit rating agencies. The roots of these credit rating agencies date back to the middle of the 1800s in the U.S. The origin of Standard & Poor’s was when Henry Varnum Poor published History of Railroads and Canals of the United States in 1860, which compiled information on railroads companies, the most capital intensive industry at the time. Their scope of information coverage expanded gradually
ViewpointsJan. 24, 2012
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The bully in you and me
Bullying is nothing new, and neither is the recent surge in school violence a new global phenomenon. Ours is an educational system that generates a vicious circle of ruthless competition and for those left behind, well, there’s either one of two choices: succumb to failure or lash out at the powers that be. In the case of the former, who often become victims of bullying, it is easy to feel overwhelmed by a perceived sense of helplessness and worthlessness. These poor souls feel as if they have n
ViewpointsJan. 24, 2012
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Too big to sail question...in Italian cruise ship fiasco
In 1912, the RMS Titanic, the largest and most advanced passenger liner of its day, sank in the Atlantic Ocean, reminding the world there was no such thing as an invincible ship. The Costa Concordia, a cruise ship so enormous that it is essentially a floating town, lies half submerged off the coast of Italy, making the same point today. The Titanic tragedy, which claimed some 1,500 lives, ushered in a new era in maritime safety law. A century later, the Costa Concordia debacle, in which 11 peopl
ViewpointsJan. 24, 2012
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Iran begins to feel the heat of global sanctions
Blustering and fuming, Iran seems to be spoiling for war.The United States and Iran have treated each other with outright hostility for more than three decades now, ever since the mullahs captured the Iranian revolution in 1979 and then sent students to seize the American embassy. But never before has the relationship teetered so close to military conflict.Even with the atmosphere freighted with bellicosity, the threats and hostile acts keep coming. On Sunday Iran issued a stark warning, saying
ViewpointsJan. 24, 2012
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[Kim Seong-kon] Fading, rising jobs in electronic age
As the world continues to be filled with more and more sophisticated, computerized and automated machines, certain jobs have inevitably begun to fade and disappear. A few days ago, I noticed a huge Blockbuster Video store near my house had closed down. The once prosperous video/DVD rental business filed for bankruptcy due to competition from Netflix, which won over customers through enticing offers such as: “Instantly watch as many movies as you want for only $8 a month!” and “Unlimited TV episo
ViewpointsJan. 24, 2012
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[David Ignatius] China’s hand on Iranian spigot
WASHINGTON ― The squeeze is already beginning on Iran’s oil exports ― and guess which nation quietly reduced its purchases from Tehran this month. Why, that would be China, Iran’s supposed protector. The Chinese cut their imports from Iran roughly in half for January, trimming 285,000 barrels per day from their average last year of about 550,000 barrels per day, according to Nat Kern, the publisher of Foreign Reports, a respected industry newsletter. Iran’s reduced sales to China, its biggest oi
ViewpointsJan. 20, 2012
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[Editorial] A done deal
The passage of the Korea-U.S. free trade deal two months ago should have put an end to the time-consuming, rancorous debate on it, though its railroading by the ruling party could have a lingering ill effect on domestic politics. Yet, the bitter conflict has raised its ugly head again.Held primarily responsible is the opposition Democratic United Party. Its newly elected leadership pledges to have the treaty abrogated. But the responsibility must be shared by an ill-prepared administration, whic
EditorialJan. 20, 2012
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[Editorial] Shame on speaker
A prosecutor shamed National Assembly Speaker Park Hee-tae, speaker of the National Assembly, when he raided the offices of his secretaries for search and seizure on Thursday. None of his predecessors had faced such mortification since the Assembly was inaugurated in 1948.But the problem is not just that he deserved the shame, as he was suspected of buying votes for his election to the chairmanship of the ruling party four years ago. More humiliation is yet to come if he tries to hide behind wha
EditorialJan. 20, 2012
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Trouble with private equity is privilege, not profits
Mitt Romney, the favorite to win the Republican presidential nomination, has brought the rights and wrongs of private equity to the front of U.S. politics. He once ran a private-equity firm, and he has been attacked for it even by fellow conservatives. This is a new version of an old complaint, and the quality of the discussion is not improving with age. The question to ask about private equity ― which involves taking over companies, restructuring them and selling them at a profit ― is not wheth
ViewpointsJan. 20, 2012
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Noda must fully explain necessity of tax hike
The environment surrounding the administration of Prime Minister Yoshihiko Noda has become harsher. The decline of the Cabinet’s approval rating, discord within the ruling Democratic Party of Japan and stalled discussions between the ruling and opposition parties are just a few of the problems it faces.Noda no longer has the leisure to continue the attitude described as “safe driving.” He needs to go on the offensive toward realizing integrated reform of the social security and tax systems, whic
ViewpointsJan. 20, 2012
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A little diversity could go a long way for mainland China
Last week the Washington Post reported on a survey conducted last month by the University of Hong Kong which found that many more people living in the Chinese territory identify themselves as “Hong Kongers” rather than Chinese. The number of people who identifiy with their city was actually more than double the number of those who see themselves as Chinese.Chinese officials were not pleased by the results of the survey and other indicators showing that Hong Kong’s population is not moving toward
ViewpointsJan. 20, 2012
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[Andrew Sheng] The natural evolution of markets as seen in Timor
Man is a social animal. The 19th-century sociologist and philosopher Georg Simmel argued that trade and exchange is “one of the purest and most primitive forms of human socialization.” Last month, while travelling through remote parts of West Timor, in Indonesia, I was able to study first-hand how rural markets operate. I could not help wondering why so-called primitive markets such as these work so well when complex financial markets can be so dysfunctional?Rural markets in East Timor are wonde
ViewpointsJan. 20, 2012
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[Editorial] Minimizing Iran risks
The Korean economy will face greater risks this year as the Seoul government has agreed to reduce its oil imports from Iran gradually in response to a U.S. request to participate in global sanctions against the Middle East country. Washington has officially asked Seoul to cut its purchases of oil from Iran and unwind financial dealings with the Central Bank of Iran as part of its campaign to drive the Tehran government toward more serious negotiations over its nuclear program.Given its close rel
EditorialJan. 19, 2012
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[Editorial] Haphazard welfare policy
The government keeps saying it would resist any attempts by political parties to introduce populist welfare programs. Yet at the same time, it keeps contradicting itself by continuing to expand politically motivated welfare measures. A case in point is its haphazard expansion of the child care subsidy program.Last year, the government abruptly announced it would provide a child care subsidy to all families with a 5-year-old starting this year, regardless of their income, if they send their child
EditorialJan. 19, 2012