Most Popular
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Korean industries gauge impact of Biden's steep tariffs on China
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Do Korean doctors make too much money?
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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S. Korea to inject $70m into AI-powered public education
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Is FTC's conglomerate listing a boon or bane for Hybe?
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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[Graphic News] Extreme weather spikes around the globe
World NewsMay 25, 2016
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[Graphic News] Kitchen, another culprit behind fine dust: ministry
Fine dust concentration reaches alarming levels when cooking food on stoves using oil without proper ventilation, the Environment Ministry said.The ministry said it measured the concentration level of PM2.5 -- the fine particulate matter smaller than 2.5 micrometers in diameter -- that build up while cooking on a stove at 32 sample houses and calculated the average.The tests showed that after some 10 minutes of pan-frying mackerels the level of PM2.5 surged to 2,290㎍㎥. This is a 76-fold denser t
Latest NewsMay 24, 2016
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[Graphic News] Domestic gas prices continue to rise
Gasoline prices in the nation are steadily rising in line with global oil prices that are showing signs of increase, data showed Sunday. The average price of gasoline was 1,393.79 won per liter on May 20, an increase of 2.05 won from the previous day, according to the Korea National Oil Corp.’s oil price information system Opinet. The average diesel price also increased by 3.34 won to 1,165.76 won per liter.Oil prices are expected to increase to $60 per barrel next year after hitting a low of $2
May 23, 2016
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[Graphic News] Koreans’ overseas card spending hits record for Q1
Overseas card spending by South Koreans hit $3.3 billion in January-March, the highest figure recorded for the first quarter, government data showed Sunday.According to the Bank of Korea, overseas spending – using credit cards, debit cards and direct payment cards -- in the first three months this year rose 2.7 percent year-on-year from $3.2 billion a year earlier.The number of Koreans who traveled overseas jumped 18.3 percent to 5.56 million in the first quarter from a year earlier, according t
May 22, 2016
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[Graphic News] Profits of Samsung, SK hynix fall on weak chip demand
Korean chipmakers, hit hard by falling prices and stiffer competition, are struggling to restore profits from their dynamic random access memory chip sales. According to the data compiled by industry tracker DRAMeXchange, Samsung Electronics, the nation’s largest chipmaker, logged $3.97 billion in its first quarter sales, down 16.6 percent from the previous quarter. Sales of SK hynix also fell 19.2 percent to $2.32 billion during the same period. Samsung’s market share remained flat at 46.6 perc
TechnologyMay 19, 2016
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[Graphic News] World’s biggest cruise ship
PARIS (AP) - Tens of thousands of French well-wishers waved goodbye to the largest cruise ship in the world as it set sail on its maiden voyage to the U.K. after 32 months in a French shipyard.The $1 billion Harmony of the Seas cut a gargantuan silhouette Sunday as it left the western port town of Saint-Nazaire.At 362 meters long, the 16-deck ship is bigger than the Eiffel Tower and holds the record for being the widest cruise ship ever built -- boasting a 6,360-passenger capacity.It has been co
World NewsMay 18, 2016
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[Graphic News] Gloomy outlook for South Korea’s growth continues
Global and local organizations continued to make downward revisions on South Korea’s growth outlook amid sluggish economic data at home and abroad.Most recently, the Organization for Economic Cooperation and Development cut its 2016 growth forecast of Asia’s fourth-largest economy to 2.7 percent from 3.1 percent, citing sluggish global trade and a slowdown in China.The International Monetary Fund lowered its 2016 growth estimate for Korea to 2.7 percent, and the Bank of Korea also revised down i
May 17, 2016
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[Graphic News] Troubled shipbuilding industry to return to normal track in 2018
The shipbuilding industry is unlikely to see any improvement this year, according to the Export-Import Bank of Korea on Monday. The industry will most likely start to recover in 2017 and subsequently stabilize in 2018, as the global shipbuilding industry has continued to perform poorly in the first quarter of this year.Compared with last year’s first quarter performance, the quantity of ship orders dropped by 71 percent to 2.3 million compensated gross tonnage -- an indicator of the amount of wo
IndustryMay 16, 2016
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[Graphic News] Unification to be costly yet beneficial for S. Korea’s demographic
The cost that South Korea will have to bear upon inter-Korea unification is likely to stand at $1 trillion, by conservative estimation, according to U.K. weekly The Economist.But the nation will also benefit from the influx of population that is younger and almost twice as more productive, a demographic boon for South Korea’s shrinking working-age population, it said.If unified, the South expects to embrace the North’s abundant rare earth reserves, which are used in electronic production, accord
PoliticsMay 15, 2016
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[Graphic News] Koreans vacation more frequently on home turf
Koreans traveled more frequently within the country last year compared to the year before, according to a travel survey report released by the Ministry of Culture, Sports and Tourism.In 2015, about 87.9 percent of the population aged over 15 made trips within the country, a 1.6 percent increase from 2014. An average Korean citizen travels 5.47 times a year for the combined duration of 9.34 days and spends an average of 582,770 won ($500). The survey was conducted on 6,534 Korean citizens, aged o
TravelMay 12, 2016
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[Graphic News] Global ship orders drop by two-thirds
Global ship orders from January to April this year dropped by two-thirds to a total of 114 vessels, according to global shipping information provider Clarksons Research on Tuesday. In the same period last year, 473 vessels were ordered.Of the 114 vessels ordered so far this year, China obtained 59 vessel orders, taking 49.3 percent of all global ship orders. China’s compensated gross tonnage — an indicator of the amount of work necessary to build a ship — was 1.9 million. Meanwhile, Korea secure
IndustryMay 11, 2016
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[Graphic News] Temporary holiday causes surge in spending
The government’s decision to designate May 6 as a temporary holiday, which allowed people four days off in a row last week, led to boosts in spending on shopping, traveling and leisure. Sales in department stores increased 16 percent during May 5-8 this year compared to last year’s holiday from May 2-5. Meanwhile, the number of visitors to baseball parks also surged 43.9 percent over the same period.As part of efforts to spur domestic consumption, the government had waived highway tolls across t
May 10, 2016
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[Graphic News] Primary sector workers show highest fatalities among cancer insurance policyholders
Primary sector workers such as farmers, fisherman and miners have the highest annual death rate among cancer insurance policyholders in Korea, industry data showed Monday. Among 12 occupational groupings, male workers in the agriculture, fishing, mining, livestock and fishing industries had the highest death rate among cancer insurance policyholders at 0.6 percent in 2014, according to the Korea Insurance Development Institute. Male fatalities in the sector came to 628 during the year among a to
May 9, 2016
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[Graphic News] Koreans prefer adopting girls
A total of 1,057 South Korean children were adopted last year, with domestic adoption continuing to show the tendency of preferring girls over boys.The Ministry of Health and Welfare said that the number of adopted children declined slightly from 1,172 in 2014. Last year, Korean parents adopted 683 children, up from the 637 in 2014. Fewer South Korean children, however, were adopted overseas in 2015 -- 374 compared to 535 the previous year. Of those adopted in Korea, 67.5 percent were girls whil
Social AffairsMay 8, 2016
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[Graphic News] Shipbuilders’ performance improves in Q1
Korea’s top three shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering — recorded improved performances during the first quarter of this year, according to industry insiders on Wednesday. The world’s No. 1 shipbuilder Hyundai Heavy Industries reaped its first profit in 10 quarters with a net profit of 244.5 billion won ($210 million), although most of the profits were from non-shipbuilding activities. Moreover, the troubled DMSE recorded
IndustryMay 5, 2016
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[Graphic News] South Korean children feel least happy
A recent study showed that South Korean children were the least happy with their lives among the OECD member states. One out of five children and teenagers said they felt the urge to commit suicide at least once.In the report released by Yonsei University’s social development research institute this week, the “subjective happiness level” among South Korean children came at 82 points, the lowest among the 22 researched OECD members. The score was calculated based on the OECD average of 100 by ask
Social AffairsMay 4, 2016
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[Graphic News] Number of illegal residents surges in Jeju
With the rising number of foreign visitors to Jejudo Island, the number of illegal residents in the southern resort is also surging, statistics showed Tuesday.In recent years, nearly 3 million foreigners have visited the island each year, with 85.3 percent of them being Chinese who can enter without a visa, as of 2015.The number of illegal immigrants in Jejudo has rapidly increased from 282 in 2011 to 371 in 2012, 731 in 2013, 1,450 in 2014 and 4,353 in 2015, according to the Justice Ministry.Wi
Social AffairsMay 3, 2016
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[Graphic News] Korea Securities Depository pays highest salary among public institutions
The Korea Securities Depository pays the highest salary among public institutions, according to a report by Alio, an online information provider on public agencies, on Monday. Out of the 321 domestic public institutions, employees of KSD, an affiliate with the Financial Services Commission, received an average of 104.9 million won ($91,950) last year, a 4.2 percent increase from 100.7 million won in 2014.Second place went to those who work for the Korea Investment Corp. where they receive an ave
May 2, 2016
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[Graphic News] New duty-free shops to create jobs and investments
The Korea Customs Service expects that new duty-free businesses in Seoul and elsewhere will create 5,000 new jobs and 1 trillion won in investments.The KCS announced last Friday that it would issue four additional licenses to operate duty-free shops in Seoul in a bid to meet rising demand from Chinese tourists for non-taxable goods.Duty-free stores, mostly run by retail giants such as Lotte Group, posted a combined 9.2 trillion won ($8 billion) in sales last year, with an average growth of 15.1
IndustryMay 1, 2016
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[Graphic News] Half of salaried workers earn less than W2m a month
Nearly half of salaried workers in Korea take home less than 2 million won ($1,754) a month, with the proportion rising to over 80 percent in restaurant and hospitality businesses, data showed. According to Statistics Korea, the ratio of workers with monthly pay under 2 million won came in at 47.4 percent at the end of last year, continuing its steady decline from 50.7 percent in 2013 and 49.5 percent in 2014. Those earning less than 1 million won account for 12.4 percent, while 35 percent belon
April 28, 2016