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South Korea may launch world’s most ambitious cap and trade market

With roughly 18 months until launch, South Korea appears ready to create the world’s most ambitious cap and trade market, with the highest global price on carbon. These findings jump from a Bloomberg New Energy Finance (BNEF) white paper analyzing how potential market designs could affect the nation…  …

Ancient Korean king’s hat recovered more than 500 years after Japanese theft

A hat which belonged to South Korea’s most revered monarch King Sejong has been recovered more than 500 years after it was looted by Japanese invaders, a senior scholar said Wednesday. Apart from its intrinsic value as an historical relic, the discovery has thrilled scholars after documents were found stitched…

Gambling regulations in some Asian countries allows only foreigners to play

The casino industry is booming across Asia, offering anyone looking for high-stakes action a wide choice of venues, from high-tech South Korea to the Himalayan nation of Nepal and communist Vietnam. Anyone, that is, except South Koreans, Nepalese or Vietnamese. For conservative Asian countries, the financial pros and social cons…

South Korea tries to recall a U.S. adoption

South Korea tries to recall a US adoption (via The Christian Science Monitor) The bitter legal struggle of an American couple to adopt a Korean baby is touching on nationalist and ethnic sensitivities in South Korea. The couple, Christopher and Jinshil Duquet, wait at home in Evanston, Ill., to see…

North Korea rocket launch fails, draws condemnation

North Korea’s heralded long-range rocket test ended in failure on Friday, disintegrating in mid-air soon after blastoff and plunging into the sea in a major embarrassment for the reclusive state. The defiant launch drew condemnation from world leaders who described it as a “provocative” act threatening regional security, despite Pyongyang insisting it…

North Korea launches rocket, South Korea says it ‘disintegrated’

PYONGYANG — North Korea on Friday launched a long-range rocket that appears to have disintegrated soon after blastoff and fallen into the ocean, South Korean and Japanese authorities said. South Korea’s defence ministry said the rocket was launched at 07:39 am (2239 GMT Thursday). “It seems that the rocket has…

Obama’s disbelief after staring into North Korea

DEMILITARISED ZONE, South Korea — After squinting through binoculars into a nation frozen in time, US President Barack Obama reeled off a contempt-laden and startlingly frank indictment of North Korea. The Stalinist remnant of the Cold War was, in Obama’s eyes, nothing but a nation which cannot make “anything of…

Pilot safe after U.S. military jet crashes in S.Korea

A US military F-16 jet crashed in southern South Korea Wednesday during a training mission but its pilot ejected to safety, US authorities said. The plane crashed into a rice paddy around noon (0300 GMT) near a US air base in the western port city of Gunsan, the US military said in a statement.…

Obama to visit DMZ between Koreas on Sunday

WASHINGTON — US President Barack Obama will visit the tense border zone between the two Koreas after arriving in Seoul on Sunday for a nuclear security summit, a White House official said Tuesday. Obama will also hold bilateral summits with China’s Hu President Hu Jintao, Russian President Dmitry Medvedev and…

Obama welcomes U.S. trade pact with South Korea

WASHINGTON — President Barack Obama called his South Korean counterpart Lee Myung-bak to welcome the beginning of a long-delayed free trade agreement, the White House said. Obama thanked Lee for “Korea’s close cooperation in getting the agreement implemented,” and stressed it was a strong example of the two country’s partnership,…

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