Most Popular
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Probe of first lady on Dior bag allegations set to begin
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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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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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Police seek arrest warrant for med student who killed girlfriend
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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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[Today’s K-pop] NCT Dream to drop pre-release from 2nd Japan single
NCT Dream will roll out the Japanese single “Moonlight” online on Wednesday, in advance of the full release of its second single album of the same title that is due out on June 5, according to SM Entertainment. The band will perform the pop dance tune on stage at its concert in Osaka on May 11-12, giving the audience the first look at the performance. The concert will be the beginning of the Japan leg of the tour, “The Dream Show 3: Dream Escape in Japan,” which will brin
K-popMay 8, 2024
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Minister says chip subsidy a ‘tall order’
Countries have been rolling out competitive subsidy programs to boost their edge in the critical semiconductor industry. For South Korea, it is difficult to come up with such direct support programs, but the government is working to create an environment to benefit long-term investment in the sector, Industry Minister Ahn Duk-geun said in a press briefing Tuesday. Ahn also explained that the ministry, along with other government entities will set up a public fund to support strategic industries,
IndustryMay 8, 2024
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Court confirms 10-year jail term for drug smugglers
The Gwangju High Court on Wednesday upheld a lower court ruling that sentenced two men to 10 years in prison for smuggling 12 kilograms of methamphetamine into the country. The two suspects, Malaysian nationals in their 30s and 40s, were found guilty of violating the Act on the Aggravated Punishment of Specific Crimes, particularly the section on narcotics and psychotropic drugs. "Considering the amount of smuggled drugs and severe nature of drug-related crimes, the sentence seems to be app
Social AffairsMay 8, 2024
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Man returns checks found in old clothing, then donates reward
A man found bank checks worth 50 million won ($36,600) and helped return them to their owner, then donated the reward money that the owner gave him to the local government. According to Saha-gu Office in Busan, a resident named Cha Sang-jae recently found the checks inside an old piece of clothing that he came across and reported it to the police. The checks were revealed to have belonged to the father of Wi Seong-han, who passed away two years ago. Wi, a resident of Seoul, had thrown the clothi
Social AffairsMay 8, 2024
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[K-pop’s dilemma] Time, profit pressures work against originality
With its total assets reaching over 5 trillion won ($3.7 billion) last year, K-pop giant Hybe, which launched as Big Hit Entertainment in 2005, is looking to claim “large-firm” status. In 2019, Hybe acquired its first subsidiary label, Source Music, aspiring to become a global multi-label entertainment company. Today, Hybe has 11 subsidiaries under its label division, including Big Hit Music, housing the global K-pop sensation BTS; Pledis Entertainment, housing the globally renowned
CultureMay 8, 2024
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Mirae Asset Securities reaps fruits of global growth
Mirae Asset Securities, Korea’s largest stock brokerage company, has yielded solid results and created a strong impetus for growth in overseas markets after two decades of global expansion. Park Hyeon-joo, chairman of the Mirae Asset Financial Group, which covers comprehensive financial services including asset management, wealth management, investment banking and life insurance, has been spearheading the group's ambition to expand businesses beyond familiar horizons. Mirae Asset Se
CompaniesMay 8, 2024
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Korean drug makers flock to obesity treatment
South Korea’s pharmaceutical companies are accelerating the development of anti-obesity drugs to take share in the rapidly growing market, which is estimated to hit $100 billion by 2030. Hanmi Pharmaceutical is one of a few Korean drug companies that have been pushing ahead with their clinical trials for homegrown anti-obesity drugs. The drug company is currently expected to be the first Korean company that will launch a homegrown anti-obesity drug. “Hanmi Pharmaceutical is the only
IndustryMay 8, 2024
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Disney+'s 'Uncle Samsik' explores how S. Korea was shaped: producer
Led by veteran actor Song Kang-ho, who has starred in numerous hit flicks, such as "Parasite" (2019) and "Cobweb" (2023), Disney+ original "Uncle Samsik" will aim to explore how Korea came to be what it is by exploring the fictional stories of those that lived through the 1950s and 1960s. Set in 1960s South Korea, the 16-part period drama series narrates the story of Kim San, (played by Byun Yo-han) a young government official with ambitions to put his self-devised
TelevisionMay 8, 2024
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Illit lands first Billboard 200 entry amid originality controversy
K-pop rookie group Illit seems to have skirted the controversy surrounding its originality, successfully landing on the Billboard 200 chart with its first EP “Super Real Me” on Tuesday. The group had been facing criticism that its concept was similar to that of the popular girl band NewJeans, which is housed under the same Hybe umbrella. According to Belift Lab, Illit ranked 93rd on the Billboard 200, less than a month after it debuted in 91st place on the Hot 100 chart with its titl
CultureMay 8, 2024
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'Ador CEO unlikely to avoid dismissal,' entertainment law expert
Ador CEO Min Hee-jin is likely to be removed by Hybe at the extraordinary meeting with shareholders sometime between May 27 and 30, an industry source said Thursday. Min revealed Tuesday her plan to hold a board meeting Friday with the parent company to discuss the agenda for a shareholders meeting. Hybe will most likely sack Min for the alleged breach of trust at the extraordinary meeting with evidence it has yet to disclose. “While it is difficult to speculate on the allegation of Min&rs
CultureMay 8, 2024
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
South Korea's battery industry has secured a two-year reprieve from the US Inflation Reduction Act restrictions on electric vehicle batteries containing Chinese graphite, giving it time to diversify its supply chain while the Korean government has committed 9.7 trillion won ($7.1 billion) in policy financing to support this transition. Following negotiations and advocacy by the Korean government and related industries, the US government on Friday agreed to suspend specific provisions of the
MobilityMay 8, 2024
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Coupang earnings hit hard by losses from ailing Farfetch
New York-listed e-commerce giant Coupang reported Wednesday that its sales soared to a record high of $7.1 billion in the first quarter of this year, but operating profits were almost cut in half largely due to the losses from Farfetch, the luxury shopping platform it acquired last year. According to its earnings report earlier in the day, its revenue reached $7.1 billion in the January-March period, up 23 percent from a year ago. Its operating profits were $40 million, which compared to $167.
IndustryMay 8, 2024
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Seoul shares up for 2nd day amid US rate cut concerns
Seoul shares ended higher Wednesday as investors remain watchful over whether the US Federal Reserve will slash key rates this year. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.69 points, or 0.39 percent, to close at 2,745.05. Trading volume was moderate at 424.75 million shares worth 10.09 trillion won ($7.4 billion), with winners outpacing losers 575 to 280. Institutions and foreigners bought a combined 434.7 billion won worth of stocks, o
MarketMay 8, 2024
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US halts bomb shipment to Israel over Rafah concerns
WASHINGTON -- The US paused a shipment of bombs to Israel last week over concerns that Israel was approaching a decision on launching a full-scale assault on the southern Gaza city of Rafah against the wishes of the US, a senior administration official said Tuesday. The shipment was supposed to consist of 1,800 900-kilogram bombs and 1,700 225-kilogram bombs, according to the official, who spoke on the condition of anonymity to discuss the sensitive matter, with the focus of US concern being the
World NewsMay 8, 2024
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Why femicide and dating violence are growing issues in S. Korea
In recent months, a wave of murders targeting ex-girlfriends has not only sent shock waves across the country but has also raised questions about why these incidents occur and how such a crime can be prevented. The murder of a woman in her 20s by her boyfriend on Monday atop a building near Gangnam Station in Seoul, which occurred following her request to end the relationship, tragically mirrors a distressing trend of similar incidents. The suspect, whom the authorities only identified as a 20-s
Social AffairsMay 8, 2024
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Over 80,000 millionaires, 20 billionaires in Seoul: report
There are over 80,000 individuals in Seoul with wealth of over $1 million, making it the city in the world with the 19th-highest number of millionaires, a recent study found. Around 82,500 residents in Seoul have wealth over $1 million as of December 2023, according to the “2024 World’s Wealthiest Cities” report issued by investment migration consultant Henry & Partners in collaboration with global data intelligence firm New World Wealth, Tuesday. In the annual report, weal
EconomyMay 8, 2024
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N. Korea's master propagandist under three Kims dies
Kim Ki-nam, a high-profile North Korean figure who dedicated his life to propaganda and agitation under the leadership of all three North Korean leaders since the 1960s, passed away Tuesday at the age of 94, North Korean state media announced Wednesday. North Korean leader Kim Jong-un paid a visit to the funeral of Kim Ki-am at 2 a.m. on Wednesday to convey his deep condolences over his passing, according to state media. State media reported the passing of Kim Ki-nam, who had been receiving medi
North KoreaMay 8, 2024
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Ministry warns of admissions freeze if it halts expansion plan
The Ministry of Education warned Wednesday of punitive measures, including the suspension of student admissions, as a potential consequence for Pusan National University if it persists in halting its medical school enrollment expansion plan. Expressing regret over the school's decision on Tuesday to suspend the increase of medical seats, the ministry emphasized that each university must adhere to the allocation of medical school seats as determined by the education minister in accordance wi
Social AffairsMay 8, 2024
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HD Hyundai Marine Solution soars on first day of public trading
HD Hyundai Marine Solution, a ship maintenance unit affiliated with Korean shipbuilding giant HD Hyundai, made its stock debut Wednesday, with the stock price soaring on the first day of trading. Listed on Kospi, the nation’s main bourse, its stock opened at 119,900 won ($88), a 48.8 percent surge from the initial public offering price of 84,300 won. It hit a high of 166,100 won before closing at 163,900 won. During its book-building period earlier in April, the company managed to amass
CompaniesMay 8, 2024
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Homosexuality neither sin nor heresy: UMC
The US-based United Methodist Church said it does not see homosexuality as a sin or heresy, countering the accusations leveled at the global denomination by a coalition of Korean Protestant churches. “The Bible says homosexuality is a sin and consecrating gay clergy amounts to heresy,” President Jung Seo-young of the Christian Council of Korea said in a statement Saturday, made in response to the UMC decision to lift its 40-year-old ban on ordaining gay clergy Wednesday. “The U
Social AffairsMay 8, 2024