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Business
2,000 Samsung workers apply to eat with Lee
More than 2,000 Samsung employees have bid for a private lunch with Samsung Electronics Chairman Lee Kun-hee, who will only see 10 of them sometime in September, Samsung Group said. The winners will be selected in consideration of age, sex, type of duty and office ranks, according to company officials.…
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Some big firms to face cash flow problems
Several big firms are tightening their cash flow as a result of the eurozone crisis, coupled with the lack of a strong recovery in the U.S. market and a lackluster performance by the Chinese economy. Adding to the strain are weak domestic demand and a property market slump, online stock…
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South Asia
Ai Muhurte El Nino-r Sombhobona Nei Bole Janalo Abohawa Doptor Nmoskar,ami Sudhanya Ghosh,Asia Journalist Association,AJA. Swabhabiker tulonaye kom brishtipate deshe El Nino poristhitir ashonka toiri holeo ai muhurte serokome kono sombhobonar kotha dillir abohawa doptor kharij kore diyeche. El Nino o La Niña proti panch bochore ekbar prosanto mohasagorer grishhomondoler upori tole srishti hoye prithibir nana prante chorom abohawa porithitir…
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Society
Gov’t to intervene in Macquarie deals
Australian firm loses in legal dispute with Gwangju The Ministry of Strategy and Finance indicated Thursday that it will help resolve disputes between Macquarie and municipal governments over the firm’s business practices in Korea. “Local governments deserve support from the central government in addressing unfair contracts they signed with Macquarie,”…
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5 overseas military units to get expanded tours
Seoul will seek to extend the missions of five overseas-based units including troops in Afghanistan and an anti-piracy one patrolling waters off Somalia, the Ministry of National Defense said Thursday. The request for the extensions, which also includes forces in the United Arab Emirates (UAE), Lebanon and Haiti, will be…
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Politics
Release of 4 detainees imminent
Meng Jianzhu, China’s public security minister, is to arrive in Seoul Thursday for a three-day visit, amid speculation that the release of four South Korean detainees in the neighboring country is imminent. This is the first time that a Chinese public security minister has visited South Korea since the two…
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Politics
Foreigners use Kumgangsan Hotel
North Korea is allowing foreign groups to use some South Korea-developed facilities at the Mt. Geumgang resort, the site of a stalled cross-border project, but business remains sparse, a recent visitor there said Thursday. The resort once brought droves of South Koreans to facilities developed under an exclusive deal between…
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Politics
3 nations plan consultation body
South Korea, the United States and Japan will launch a consultation body based in Washington D.C. to facilitate trilateral cooperation, their top diplomats announced Thursday amid persisting concerns over North Korea. The announcement was made by Foreign Minister Kim Sung-whan and his U.S. and Japanese counterparts, Hillary Clinton and Koichiro…
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DUP seeks to curb chaebol investment
Lawmakers of the main opposition Democratic United Party (DUP) proposed a bill Thursday that includes the reviving of the Regulation on Total Equity Investment. The regulation, which restricts big conglomerates from acquiring shares of other domestic companies, was originally introduced in 1987 to hold back the so-called chaebol from indiscriminately…
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Business
Central bank preempts markets with rate cut
Quarter point slashed to 3% after no change in 13 months The Bank of Korea (BOK) surprised markets by cutting interest rates Thursday as the country battles subduing economic activity and worsening global conditions. The decision to shave the benchmark 7-day repo rate by 0.25 points to 3 percent, ended…
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