Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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[Newsmaker] Ju takes heat for failed tech transfer
President Park Geun-hye’s surprising personnel shake-up on Monday was widely seen as a move to reprimand her foreign affairs team for its failed mission to persuade the U.S. to transfer fighter jet technology to Korea.Park named Kim Kyou-hyun, the National Security Council secretariat chief, as her new senior presidential secretary for foreign affairs and national security. Kim replaces Ju Chul-ki, who had reportedly offered to resign to take responsibility for Washington’s refusal to transfer f
Foreign AffairsOct. 19, 2015
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[Newsmaker] German politician stabbed in 'racist' attack
A German mayoral candidate active in helping refugees was seriously wounded on Saturday in what police described as a stabbing with a “racist, political” motive, heaping further pressure on Chancellor Angela Merkel over the migrant crisis. The German leader expressed her “shock” over the attack in the western city of Cologne which left mayoral hopeful Henriette Reker with serious neck wounds. The stabbing comes as Merkel prepares to travel to Istanbul on Sunday for talks on the crisis with Turki
Foreign AffairsOct. 18, 2015
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[Newsmaker] Is Korea’s most-wanted conman really dead?
The purported death of Cho Hee-pal, the mastermind behind South Korea’s largest-ever fraud case, returned to the spotlight as his close aide was arrested in China last week, with fresh testimonies suggesting he is actually still alive. Cho is one of the most-wanted conmen in South Korea, having allegedly scammed up to 50,000 people out of an estimated 4 trillion won ($3.5 billion) in a pyramid marketing scheme.Cho Hee-pal (Yonhap) The 58-year-old established a medical equipment supply company a
Social AffairsOct. 14, 2015
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[Newsmaker] Poverty expert Deaton wins Noble Prize
Angus Deaton, a British-U.S. professor at Princeton University, won the Nobel Economics Prize Monday for groundbreaking work on poverty and promptly warned that inequality is becoming a serious global threat.The 69-year-old academic, who has spent more than 30 years in the United States, was honored for using household surveys to show how consumers, particularly the poor, decide what to buy and how policymakers can help them. India, one of the fastest growing economies in the world, is a key are
World NewsOct. 13, 2015
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[Newsmaker] Lotte chairman hits back in rekindled family feud
Lotte Group chairman Shin Dong-bin speaks during a news conference at Lotte Duty Free’s logistics center in Incheon on Monday. Lotte GroupLotte Group chairman Shin Dong-bin on Monday slammed his father and elder brother for dragging him into another family spat over the company’s management and putting the 90 trillion won ($79 billion) business empire in danger.“Let me tell you one thing about what happened over the weekend,” the chairman said in a news conference at Lotte Duty Free Store’s logi
IndustryOct. 12, 2015
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[Newsmaker] Tunisian democracy group wins Nobel Peace Prize
Tunisian civil society groups won the Nobel Peace Prize for helping rescue the only democracy that emerged from the Arab Spring, in a hugely symbolic show of support for the country after a wave of jihadist attacks.The members of the Tunisian National Dialogue Quartet that was awarded the Nobel Peace Prize announced in Oslo: (clockwise from left) president of the Tunisian employers union Wided Bouchamaoui; Tunisian lawyer Fadhel Mahfoudh; president of the Tunisian Human Rights League, Abdessatta
World NewsOct. 11, 2015
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[Newsmaker] Twitter founder given a second chance as CEO
Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned cofounder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses.The hiring revealed Monday in a regulatory filing ends Twitter’s three-month search for a new leader. It marks Dorsey’s second stint as CEO since he helped start the San Francisco company more than nine years ago with Evan Williams, Biz Stone and Noah Glass.Jack Dorsey, chairman of Twitter Inc. (Bloomber
World BusinessOct. 6, 2015
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[Newsmaker] Portugal’s ruling party wins election
Portugal’s ruling center-right coalition won a general election Sunday seen as a referendum on its austerity policies, although it may not hold onto its absolute majority in parliament, near-complete results showed.Portuguese Prime Minister Pedro Passos Coelho waves to supporters following the announcement of the results of Portugal`s general election in Lisbon on Sunday. (AP-Yonhap)Prime Minister Pedro Passos Coelho’s “Portugal Ahead” coalition took 39.16 percent of the vote, according to resul
Latest NewsOct. 5, 2015
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[Newsmaker] Guns a way of life in U.S. massacre town
Guns, jewelry and guitars may not immediately seem the most obvious items to sell together in one shop.But such is the way of life in Roseburg, Oregon, where a 26-year-old gunman killed nine people on Thursday at a community college in the latest armed massacre which has revived debate in the United States about stiffer gun controls.A day later, the store was doing a brisk trade with men and women of all ages mooching about, some with revolvers visible on their belts."The state of Oregon and Dou
World NewsOct. 4, 2015
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[Newsmaker] Russian strikes again expose U.S. disarray
Russia’s dramatic entry Wednesday into the Syrian war put the United States on the back foot once again and left Washington struggling to regain the military and diplomatic initiative.As U.S. Secretary of State John Kerry was in New York trying to coordinate with his Kremlin opposite number Sergei Lavrov, a Russian officer contacted the U.S. embassy in Baghdad. (Yonhap)His message was simple: Russian jets are about to launch air strikes in Syria, please stay out of their way.Kerry quickly protes
World NewsOct. 1, 2015
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[Newsmaker] Fashion mogul Ralph Lauren steps down
Ralph Lauren is handing off his title as CEO of the fashion and home decor empire that he founded nearly 50 years ago.The New York-based company announced Tuesday that Stefan Larsson, the global president of Gap’s thriving low-price Old Navy chain, will take on the role. The change will be effective in November, and Larsson will report to Lauren who will continue to drive the company’s vision and strategy as executive chairman and chief creative officer.Designer Ralph Lauren. (AFP-Yonhap)As glob
World NewsSept. 30, 2015
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[Newsmaker] 'Strongest evidence' of water on Mars
Scientists on Monday announced "the strongest evidence yet" of liquid water on Mars, raising the distant prospect of microscopic life on the Red Planet.Experts at NASA hailed the findings, made with the U.S. space agency's Mars Reconnaissance Orbiter, and said they were "revolutionizing our understanding" of Earth's neighbor."Mars is not the dry, arid planet we thought of in the past," Jim Green, NASA's planetary science director, told journalists in Washington. "Under certain circumstances, liq
World NewsSept. 29, 2015
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[Newsmaker] New VW boss tries to save carmaker
Volkswagen's new boss began trying to pull the embattled carmaker out of the wreckage of a pollution test rigging scandal Saturday, as the United States and Switzerland halted the sale of the group's new diesel cars. The 62-year-old former Porsche chief Matthias Mueller was tapped Friday to replace Martin Winterkorn, who resigned over stunning revelations by US environmental authorities that the German carmaker had fitted some of its diesel cars with software capable of cheating environmental
World BusinessSept. 27, 2015
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[Newsmaker] Apple’s new iPhone hits stores
How many iPhones can Apple Inc. sell? With the company hitting new sales records with each annual release, that’s a question facing chief executive officer Tim Cook as the latest batch of handsets hits stores on Friday around the world. The latest models, following last year’s hugely popular design overhaul that added bigger screens, may not match the success of previous releases, according to analysts.An Apple employee in Sydney takes a 'selfie' photograph of customers with the new iPhone 6s p
BusinessSept. 25, 2015
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[Newsmaker] Volkswagen just latest scalp for independent campaigners
Volkswagen’s worldwide pollution cheating has been exposed in large part thanks to independent campaigners, a growing force in the scrutiny of multinationals whose activities can escape the gaze of official regulators.The revelations shaking Volkswagen, the world’s biggest automobile manufacturer by sales with a workforce of 590,000 people, can be traced to the work of the U.S.-based group International Council on Clean Transportation, which has a worldwide staff of 27.A red 2016 Volkswagen AG G
World BusinessSept. 24, 2015
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[Newsmaker] Itaewon murder suspect denies 18-year-old charges
After nearly two decades including a botched initial investigation and series of trials, a movie and a reinvestigation, the murder that took place at a fast-food joint in Itaewon returned to the spotlight Wednesday with the extradition of the key U.S. suspect.Arthur John Patterson, handcuffed and donned in all white, arrived at Incheon International Airport to face charges of murdering 22-year-old Korean student Cho Joong-pill in 1997.Patterson denied the allegations and said his Korean-America
Social AffairsSept. 23, 2015
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[Newsmaker] Volkswagen slams into false emissions scam
German auto giant Volkswagen’s shares plummeted nearly 20 percent Monday as investigations spread into revelations that hundreds of thousands of its diesel cars have software that secretly thwarts U.S. pollution tests.Volkswagen, the world’s largest automaker by sales in the first half of this year, said it had halted all diesel vehicle sales in the United States during a probe into the scandal, which could lead to fines of more than $18 billion.In addition to the environmental fines, U.S. autho
World BusinessSept. 22, 2015
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[Newsmaker] Triumphant Tsipras faces tough reforms
Greece’s left-wing prime minister-elect Alexis Tsipras has won a thumping poll victory that hands him a mandate to drive through unpopular reforms agreed under an austerity deal struck with international creditors.The unexpected margin of his victory Sunday came after a mutiny within the ranks of his radical Syriza party over a U-turn on tough tax hikes and pensions reforms felled his government and triggered Greece’s third vote this year.With around 90 percent of votes counted, Syriza looked se
World NewsSept. 21, 2015
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[Newsmaker] Park to regain control of Kumho Asiana Group
Kumho Asiana Group chairman’s long-awaited dream to bring back his business empire under his control is likely to be realized, with his reacquisition of Kumho Industrial, the de facto holding firm of the group, getting close. Kumho Asiana Group chairman Park Sam-koo makes a welcoming speech during the “2015 Korea-Japan Festival in Seoul,’’ held at the Coex, southern Seoul, on Sunday. He is in charge of the Korean organizing committee for the festival. (Kumho Asiana)Creditors of Kumho Industrial
IndustrySept. 20, 2015
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[Newsmaker] Makers of Budweiser, Miller eye global merger
Bottles of Budweiser (right) and Miller beer. (Bloomberg)The makers of Budweiser aren't satisfied with being the kings of beer. They want an empire.Anheuser-Busch InBev, the world's biggest brewing company and the owner of Budweiser, announced Wednesday it wants to buy SABMiller, the second-largest brewer — and the maker of long-time rival brand Miller Genuine Draft.The deal would create a multinational behemoth valued at around $275 billion with annual sales of $73.3 billion, more than three ti
World BusinessSept. 17, 2015