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Moon voices hopes for enhanced ties with Indonesia

South Korean President Moon Jae-in on Thursday expressed hopes for enhanced economic and diplomatic cooperation with Ind …

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Goldman Sachs PEF Looks for Promising Investment Opportunities

Goldman Sachs PIA, a Goldman Sachs-affiliated private equity firm, which is pushing to raise a fund of 10 trillion won this year, is looking for new promising investment opportunities here in Korea. For more than 20 years, Goldman Sachs PIA has succeeded in exploring and investing in a string of promising businesses, including Kookmin Bank, cable operator C&M, food delivery app People of Delivery, and real estate app Jikbang. On May 24, Lee Jae-hyun, CEO of Goldman Sachs … …

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Envoys to US, China, Japan fill diplomatic vacuum: president

President Moon Jae-in (second from left) is briefed by his special envoys to the U.S., China and Japan on what they’ve achieved during their missions, at the Yeomingwan office at Cheong Wa Dae on May …

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Choi Soon-sil's Daughter Drops Fight Against Extradition

The daughter of ex-President Park Geun-hye’s crony Choi Soon-sil on Wednesday dropped an appeal against her extradition from Denmark. Danish prosecutors confirmed on Twitter that Chung Yoo-ra will be extradited to Korea within 30 days, though the date has not yet been set. After Danish prosecutors d… …

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KOSPI Hits New High Thursday

[Economy] : The benchmark Korea Composite Stock Price Index(KOSPI) has again renewed an all-time high on …[more…] …

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Constitutional Court upholds law restricting subsidies on mobile devices

SEOUL, May 25 (Yonhap) — The Constitutional Court on Thursday upheld a law that restricts subsidies on the purchase of smartphones and other mobile devices. The regulation, which sets the legal limit of subsidies at 330,000 won (US$295), was adop …

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Korea, Denmark in talks over repatriation of Choi's daughter

South Korea’s Justice Ministry said Thursday it has officially received notification from Denmark that the daughter of f …

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Korea Electric Power Corp. Set to Abolish Performance-based Pay Scheme

The labor union of Korea Electric Power Corp. is pushing to roll back the performance-based salary scheme for which it agreed with the management last year. This comes after Kim Jin-pyo, chairman of the special advisory committee for state affairs, said on May 23, “At the government level, we will review a plan to abolish the performance-based salary scheme.” If the nation’s largest state-run enterprise succeeds in repealing the scheme, it will likely affect other public sector unions as well. … …

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S. Korea's Manufacturing 4 Years Behind in 4th Industrial Revolution

[Economy] : A state-run think tank says South Korea’s manufacturing industry is lagging about four years behind advanced nations in terms of preparations and responses to the Fourth Industrial Revolution.[more…] …

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S. Korean delegation meets with Pope Francis, asks for support

VATICAN CITY, May 24 (Yonhap) — A South Korean delegation representing Seoul’s new administration on Wednesday met with Pope Francis in Vatican City and asked for support in achieving Korean peace. The delegation led by Archbishop Hyginus Kim Hee- …

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Stereotype being upended as less-educated women have fewer babies

South Koreans with less-educated backgrounds are getting married less often and having fewer children, a new study shows. As a society’s fertility rate declines, highly educated women tend to have few.. …

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[News Focus] Moon’s river probe order puts auditor in dilemma

President Moon Jae-in won the election on a promise to eradicate “accumulated evils,” clearly stating that former Presid …

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Household Debt Hits Record High at 1,360 Tril. Won

Korea’s household debt balance rose by more than 17 trillion won in the first quarter of this year, reaching an all-time high at 1,360 trillion won. According to preliminary data released by the Bank of Korea on May 23, the nation’s household credit balance amounted to 1,359.7 trillion won. This figure is the highest since the central bank started compiling related statistics from the fourth quarter of 2002. The household credit balance includes not only loans from financial i… …

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Rain, Kim Tae-hee Expect a Child

Pop star Rain and his actress wife Kim Tae-hee will become parents soon, the couple announced Tuesday. Kim’s management agency said she is 15 weeks pregnant. “We thought it would be better to deliver the news to the fans ourselves, rather than people finding out about it by spotting her in hospital… …

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Together, we will make his dreams come true: President Moon

President Moon Jae-in (eighth from left), first lady Kim Jung-sook (seventh from left), and other dignitaries pay silent tribute to late former President Roh Moo-hyun, in Bongha Maeul Village, Gimhae …

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14th Century Scriptures Found Inside Head of Buddha Statue

[Culture] : A rare discovery of Buddhist scriptures has the Buddhist community excited.[more…] …

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S. Korea's childbirths on steady decline in March

SEJONG, May 24 (Yonhap) — The number of childbirths in South Korea sank for the 16th consecutive month in March as the country is struggling with a continuing trend of late marriage and a rapidly aging population, a government report showed Wednesday. …

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[Interview] An activist on a mission to bring peace to East Asia

“Since being released after 19 years in prison, I’ve been interested in the issues of abolishing torture and releasing political prisoners. I’ve had a lot of conversations while traveling around not o.. …

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S. Korea strongly condemns Manchester terror attack

South Korea on Tuesday strongly condemned a terror attack at a concert in Britain that killed 22 people and injured 59 o …

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Taekwang Joins Race to Acquire Vietnam's No. 1 Logistics Firm

Taekwang jumped into a race to take over Gemadept, the largest logistics firm in Vietnam, as part of an effort to establish a secure logistics base in Southeast Asia. According to industry sources on May 22, Taekwang recently submitted a letter of intent to acquire the company listed on the country’s Ho Chi Minh City Stock Exchange. Founded in 1990, Gemadept has about a dozen of subsidiaries in the areas of logistics, port operations, and real estate development. Gemadept is … …

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