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Iran openly expresses discontent over frozen assets in Korea

Iran openly expresses discontent over frozen assets in Korea

Iran has amped up pressure on Korea to release its money frozen by two Korean banks, with its vice president slamming Seoul in public, Sunday. Diplomatic observers say such acts from Tehran are likely to continue before it renegotiates a nuclear deal, known as the Joint Comprehensive Plan of Action, with the United States which is the root cause for the frozen funds from oil and gas sales. The funds held in the banks have been a hot-button issue between the two countries with Iran lambasting the government here for its years-long failure to release the $7 billion. The Korean administration counter-argues that it cannot accept Iranian demands due to U.S. sanctions re-imposed in 2018. Last July, the Iranian foreign ministry threatened Korea with legal action at the International Court of Justice.

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Concerns rise over Seoul mayor's proposed social distancing scheme

Concerns rise over Seoul mayor's proposed social distancing scheme

Concern is rising over new Seoul Mayor Oh Se-hoon's plan for the capital to impose its own social distancing measures. Although he said he would consult with the central government, health officials worry that his unilateral steps may weaken the antivirus measures set by the central government.

SK-LG settlement may press Samsung to invest more in US

SK-LG settlement may press Samsung to invest more in US

The White House will hold a meeting with global companies, including Samsung Electronics, on Tuesday morning (KST) to discuss the ongoing global semiconductor shortage issue. Given that industry officials and analysts are expecting the Biden administration to demand a reorganization of the chip industry, centered on the U.S., the focus is moving to whether the Korean tech giant will decide to intensify its investments in the U.S.

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POSCO Int'l investors increasingly worried over Myanmar crisis

POSCO Int'l investors increasingly worried over Myanmar crisis

The military suppression of pro-democracy protesters in Myanmar is adding to woes of investors in POSCO ...

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Youn Yuh-jung draws laughter for playful BAFTA acceptance speech

Youn Yuh-jung draws laughter for playful BAFTA acceptance speech

If there were an award given to the most humorous actor, Youn Yuh-jung would be one of the strongest contenders. She didn't lose her sense of humor even during her improvised acceptance speech at Sunday night's British Academy of Film and Television Arts (BAFTA) Awards.

LocknLock union may thwart Affinity's exit plan

LocknLock union may thwart Affinity's exit plan

The LocknLock union formed earlier this month has emerged as a major stumbling block to Affinity Equity ...

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