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East Asia
Love-stricken Rain hit over furlough
Top star Rain was embroiled in controversy Wednesday for allegedly receiving preferential treatment during his ongoing military service, after his relationship with top actress Kim Tae-hee was revealed. Criticism of Rain, who is currently serving as an “entertainment soldier,” has been blowing up after online media Dispatch revealed the relationship,…
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East Asia
Defense minister warns budget cut will backfire
Defense Minister Kim Kwan-jin expressed deep regret Wednesday that the National Assembly passed the New Year’s budget with nearly 500 billion cut from his ministry’s proposal. “It’s not right to slash the defense budget in order to use the financial resources for other purposes at this critical time when national…
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East Asia
Seoul tells NK to act prudently
Following a New Years overture by North Korea to improve cross-border relations, senior Seoul officials Wednesday urged Pyongyang to take a constructive path if it wants to alleviate tension. The remarks pointed at lingering concerns that the North could continue to act provocatively through further testing of nuclear weapons technology.…
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East Asia
Major changes in regulations this year
Increase of childcare subsidy All Korean households with children aged between three and five will be given 220,000 won ($203) per child every month, under the government’s plan to expand public welfare benefits and reduce the financial burden of childcare on families. The subsidy reflects concern about the rapid increase…
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East Asia
Korea is no longer country for young men
During the carefree days of the 1980s and early 1990s, Korean youngsters carried an unmistakable sense of entitlement, enjoying the luxury of passing on job offers for one with a bigger paycheck. The millions of young people toiling in the decimated job market of today are shocked into realization that…
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East Asia
Firms step up guard against crisis
The heads of Korea’s top four conglomerates are placing priority on exploring new markets, improving product quality and leading market trends this year in order to secure an edge in the increasingly competitive global marketplace. In a New Year message, Samsung Electronics Chairman Lee Kun-hee urged the country’s largest business…
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East Asia
Banking groups brace for ‘Ice Age’
Financial CEOs to focus on risk management Chief executives of financial companies vowed Wednesday to tackle the challenges of low economic growth and declining interest rates. Describing the 2013 financial industry as an “Ice Age,” heads of the nation’s four largest financial groups ― Woori, KB, Hana and Shinhan ―…
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East Asia
Three culinary arts students introduce kimchi to world
Do kimchi and buses mix? For three culinary science students from the tourism college of Kyung Hee University, the answer is yes. Ryu Si-hyeong, 29, Kim Seung-min, 29, and Jo Seok-beom, 25, have remodeled their “kimchi bus” and driven some 50,000 kilometers across Europe and North America to promote Korean food…
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East Asia
Who will shine in biz circle in 2013?
With most firms completing year-end reshuffles, attention is now on who will lead their respective conglomerates to the top in Korea’s growing industries. Electronics duopoly Samsung and LG Electronics and automobile giant Hyundai Group have the best outlook for the new year with the longest standing businesses among local players…
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