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Foreign firms may buy Pantech, Dongbu HiTek
Experts are worried that Korea could lose its tight grip on the mobile phone and semiconductor industries because foreign companies are planning to purchase stakes in leading domestic technology firms. Experts said that the Korean government should consider whether or not to allow foreign firms to buy stakes in Dongbu…
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Large-scale Cabinet reshuffle unavoidable
Many heads are expected to roll amid growing public outrage over the government’s lax, inefficient handling of the Sewol ferry disaster. President Park Geun-hye is likely to carry out a large-scale Cabinet reshuffle, holding a number of Cabinet members accountable for inept responses. Since the ferry carrying 476 passengers capsized…
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Denial, anger… and grief in Ansan
ANSAN — It’s hard not to find someone unrelated to the tragedy of the sunken ferry in this town which feels like a giant funeral home. From banks to government buildings, banners express the hope of residents wishing the return of the missing students in Gojan-dong, the home of the…
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South Korea, China warn North Korea on nuclear test
Chinese President Xi Jinping reaffirmed his commitment to opposing North Korea’s nuclear ambitions during telephone talks with President Park Geun-hye, Wednesday, according to presidential spokesman Min Kyung-wook. Xi’s remarks came at a time when the North is thought to be preparing to carry out a fourth nuclear test later this…
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Culture can’t explain it all
CNN, Time react typically to Sewol tragedy Last Friday, two days after the Sewol sank, a CNN reporter made an on-air remark that felt all too familiar. “What (Korean) culture prizes in its children, its students, is obedience,” she said. “So when they were told to stay put by an…
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Ferry owner’s home raided
Prosecutors raided the home of Yoo Byung-eun, owner of Chonghaejin Marine, and the offices of a dozen affiliates of the ferry firm, Wednesday. The raid was part of an escalating investigation into the Yoo family after the Chonghaejin ferry Sewol sank off the country’s southwestern coast, leaving 157 dead and…
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N. Korea offers condolences over S. Korean ferry victims
North Korea has expressed its condolences over the sinking of a South Korean ferry in a telephone message through its Red Cross Society, the unification ministry said Wednesday. The message under the name of Kang Su-rin, the chief of the Red Cross Society of North Korea, was sent to Yoo…
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Chonghaejin Marine’s ‘real’ owner hunted
Financial regulators have launched a joint investigation with customs and tax officials into Chonghaejin Marine, the operator of the sunken ferry Sewol, and its owner family. The shipping firm’s majority stakeholder is Chonhaiji, a small shipbuilder controlled by I-One-I Holdings. Major shareholders of the holding firm include two sons of…
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Overseas treasures boost cultural pride
CHA expanding support for historical objects in other countries About 150,000 Korean cultural relics are scattered throughout more than 20 countries, including Japan, the United States and Germany, according to the Overseas Korean Cultural Heritage Foundation. Supporting preservation of them and research is a way of promoting understanding of Korean…
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Speculation about NK’s nuclear test growing
Speculation is mounting about another North Korean nuclear test as heightened activity has been detected at the country’s underground nuclear test site. “Many activities are currently being seen at North Korea’s Punggye-ri nuclear test site,” said Kim Min-seok, spokesman of Ministry of National Defense, Tuesday. “The North can launch a…
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