Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Exports to US reach all-time high, widen gap with China
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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S. Korea redrawing overall welfare plan for senior citizens
South Korea is redrawing the country's senior citizen welfare plan to better cope with the steady aging of the population, the government said Thursday. The move comes as more and more people are expected to live longer in the coming years due to advances in medicine. The sharp drop in the country's birthrate is another source of worry since there will be fewer economically active young peopl
May 5, 2011
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National Assembly ratifies Korea-EU FTA
The National Assembly ratified the Korea-EU free trade agreement on Wednesday night, in a vote boycotted by the main opposition Democratic Party. “We decided not to attend the plenary session and go home,” said DP floor leader Park Jie-won after a series of meetings of its lawmakers held just before the session opened. “The decision was taken to express our opposition to the votebeing held today.”
May 4, 2011
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DP blocks bill on Korea-EU FTA
Parties once again faced turmoil over the controversial Korea-EU Free Trade Agreement bill, as the Democratic Party, despite its previous agreement, resolved not to pass the bill Wednesday.In an hours-long party meeting held before the parliamentary regular session in the afternoon, a majority of the main opposition party lawmakers voted against passing the bill, according to party officials.DP fl
May 4, 2011
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Lee scolds FSS as scandal threatens approval rating
President Lee Myung-bak on Wednesday chided the nation’s top financial watchdog for its failure to reform itself despite the lessons of the 1997-98 financial crisis and to properly supervise mutual savings banks, eight of which had their operations suspended so far this year.Having championed efforts to seek a “fair society” through the second half of his term, Lee slammed the Financial Supervisor
May 4, 2011
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North Korean hackers broke international law: ministry source
The Foreign Ministry has begun studying whether the April 12 cyber attack by North Korea violated the international law as part of efforts to ward off additional attacks, an official said Wednesday.“The exercise of their right in a way that inflicts damage on other countries is illegal under the international law,” the official said on condition of anonymity.Prosecutors on Tuesday concluded that t
May 4, 2011
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Lee chastises top financial regulator for complacency
President Lee Myung-bak on Wednesday chided the nation’s top financial watchdog for its failure to reform itself despite the 1997-98 financial crisis and to properly supervise mutual savings banks, eight of which had their operation suspended so far this year.Having championed efforts to seek a “fair society” through the second half of his term, Lee slammed the Financial Supervisory Service for no
May 4, 2011
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Lawmakers slammed for Busan bailout bill
Parties are embroiled in a heated debate over a revision bill submitted by Busan lawmakers to offer full compensation to depositors of suspended savings banks. Many say the bill is legally inappropriate, saying that full compensation may cause moral hazard.A dozen Busan lawmakers have submitted the revision bill which will obligate the government to fully compensate for deposits and subordinate bo
May 3, 2011
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Parties expected to pass Korea-EU FTA
Parties will hold a provisional session where the disputed Korea-EU Free Trade Agreement is expected to pass, despite their failure to reach a consensus during the April plenary session.The ruling Grand National Party and the main opposition Democratic Party, together with government officials, met in a post-deadline debate on Monday and decided to pass the delayed bill during the special parliame
May 3, 2011
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Lee: Laws not shared growth solution
President says conglomerates need to seek mutual growth with small firmsPresident Lee Myung-bak on Tuesday urged leaders of large business conglomerates to “open-mindedly discuss” with smaller companies how to seek mutual growth, a key policy goal of the Lee administration.Lee asked Huh Chang-soo, new president of the Federation of Korean Industries, the nation’s most powerful business lobby, to v
May 3, 2011
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Debate still hot over May 16 coup
New light shed on legacies of Park Chung-hee’s 18-year ruleA half-century ago this month, a group of military officers led by Army Maj. Gen. Park Chung-hee kicked out a fledgling democratic government which had been grappling with a host of popular demands with little success.In a six-point “revolutionary pledge,” they tasked themselves with rooting out corruption, pulling the people out of povert
May 3, 2011
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Parties to pass Korea-EU FTA bill
Parties to ratify Korea-EU FTA WednesdayParties will hold a provisional session on Wednesday to pass the disputed Korea-EU Free Trade Agreement bill, on which they failed to reach an agreement during the April plenary session.In a last-minute debate on Monday, parties agreed to ban the location of large supermarkets within the 1 kilometer radius of small traditional markets, instead of the previou
May 3, 2011
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Assembly to discuss ratifying FTA with EU this week
The Korean parliament will discuss the ratification of Seoul's free trade deal with the European Union (EU) at a plenary session this week, a lawmaker said Monday, after rival parties agreed on related issues.Rep. Lee Koon-hyon of the ruling Grand National Party (GNP) said the National Assembly will discuss ratifying the free trade agreement (FTA) with the EU this Wednesday. Last week, a parliamen
May 2, 2011
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GNP cliques clash after by-election shocks
The ruling Grand National Party, in the aftermath of its defeat in last week’s by-elections, held an intra party debate in which opposing factions clashed over how to start over.More than 110 lawmakers participated and 19 volunteered to speak in the hours-long debate on Monday, according to party officials.“We are on the verge of a major crisis,” said the party floor leader Kim Moo-sung in his ope
May 2, 2011
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Bigger kindergarten grants promised for 5-year-olds
The Seoul government on Monday said it will pay 300,000 won per month for pre-school education of 5-year-olds from 2016, extending the state-funded compulsory education period by a year to 10 years.Currently, public elementary (six years) and middle school (three years) education in Korea is free, whereas the government provides 177,000 won per month for pre-school education or childcare of 5-year
May 2, 2011
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Lee aide warns of moral hazard amid savings bank probe
An aide to President Lee Myung-bak criticized a group of Busan lawmakers for pushing for legislation to make the government provide full compensation for lost savings at suspended mutual savings banks, saying it would bring about moral hazard.“Ignoring the existing law to guarantee full compensation for all savings when Busan Savings Bank is suspected of having told (its VIP customers) to withdraw
May 2, 2011
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Seoul expats happy with public transit
Foreigners living in Seoul were most satisfied with transport when rating a range of services last year, according to a survey released Monday by the Seoul Metropolitan Government.But satisfaction with their residential environment was rated lowest in the survey of 900 expatriates in Seoul.The city began conducting the research in 2008 as part of its globalization efforts. It commissioned the loca
May 2, 2011
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Man accused of stealing sensitive data
Investigators do not rule out possibility of information sent to N. KoreaProsecutors are investigating a 43-year-old man who allegedly stole sensitive government data from the Joint Chiefs of Staff and other agencies while working for a private computer data management firm for them, officials said Monday.The case immediately sparked criticism for the “lax screening process” for personnel who hand
May 2, 2011
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Gov't envisions 'mandatory' preschool education
The government announced on Monday that it will fully cover preschool expenses for 5-year-olds by 2016 as part of a campaign to help narrow the education gap between poor and wealthy students and to reduce household childcare burdens.The government said it will introduce next year a common preschool curriculum for 5-year-olds and shoulder most of the cost for households to help more children recei
May 2, 2011
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Park Geun-hye in Portugal after Netherlands trip
LISBON (Yonhap News) -- Park Geun-hye, South Korean President Lee Myung-bak’s special envoy, arrived in Lisbon, the capital of Portugal, Sunday on her second leg of a nine-day European tour after wrapping up a three-day visit to the Netherlands.In the Netherlands, Park, a former head of the ruling Grand National Party (GNP), met with Queen Beatrix and ranking government officials for discussions o
May 1, 2011
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GNP grapples with selection of leader
Big names mentioned as party chair, but all cautious about their plansIn the aftermath of its defeat in the April by-elections, the ruling Grand National Party is struggling to select a new head who may lead the party in the future, especially in next year’s general and presidential elections.The ruling party is scheduled to line up its top leader and supreme council anew within the month through
May 1, 2011