Category: Government

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November 18, 2016 No Responses

KOSPI, KOSDAQ Close the Week in Negative Territory

The benchmark Korea Composite Stock Price Index(KOSPI) on Friday lost five-point-97 points, or zero-point-three percent, to close at one-thousand-974-point-58, after U.S. Federal Reserve Chair Janet Yellen hinted that interest rates may be raised soon....
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November 17, 2016 No Responses

Spokesman: President Will Cooperate with Prosecution

As South Koreans wait to hear when President Park Geun-hye will be questioned by prosecutors, her spokesperson ensured that she will cooperate with the investigation.In the wake of the president's attorney's request to delay the investigation on his cl...
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November 16, 2016 No Responses

Lawmakers Submit Bill Seeking Introduction of Independent Counsel

A group of 209 ruling and opposition lawmakers submitted a bill seeking to have an independent counsel probe the Choi Soon-sil scandal. The National Assembly's Legislation and Judiciary Committee is set to review the independent counsel bill during a ...
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November 15, 2016 No Responses

Moon Vows to Participate in Rallies for Park’s Resignation

The former head of the main opposition Democratic Party, Moon Jae-in, vowed on Tuesday to participate in nationwide rallies for the resignation of President Park Geun-hye. Moon made the pledge during a news conference at the National Assembly, saying t...
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November 14, 2016 No Responses

Gov’t Succeeds in Privatizing Woori Bank

The government has succeeded in privatizing Woori Bank some 15 years after the state-run Korea Deposit Insurance Corporation(KDIC) acquired its mother company Woori Financial Group in 2001. The Financial Services Commission announced Sunday that its pu...
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November 10, 2016 No Responses

Vice Minister Assures Financial Market will Withstand Impact of US Election

South Korean officials are doing their part to calm investors nervous after the Trump victory.Vice Finance Minister Choi Sang-mok told reporters Thursday South Korea has ample foreign exchange reserves and solid financial fundamentals and so is resilie...
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November 8, 2016 No Responses

Opposition Doubtful of Park’s PM Proposition

The ruling Saenuri Party has expressed hope that President Park Geun-hye's proposal for the National Assembly to recommend a prime minister will mark the beginning of resolving the crisis in state affairs.Yeom Dong-yeol, the party's senior spokesman, s...
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November 7, 2016 No Responses

Opposition Chiefs to Hold Talks Over Scandal

The chiefs of three opposition parties will meet this week to discuss how to deal with the widening scandal involving President Park Geun-hye and her longtime confidante Choi Soon-sil.Floor Leader Park Jie-won of the minor opposition People's Party tol...
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November 3, 2016 No Responses

PM Nominee Vows to Create Bipartisan Cabinet

Prime minister nominee Kim Byong-joon has vowed to fully exercise his authority to create a bipartisan, neutral Cabinet in close consultation with the opposition camp. In a news conference on Thursday, the nominee addressed his plans for the scandal-ri...
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