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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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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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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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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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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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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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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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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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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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