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Bill on Cloud Computing Likely to be Passed
Legislative ComputingA bill aimed at developing cloud computing and protecting users is likely to be implemented soon. So, local software companies are actively seeking to dominate the cloud market in...
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Consumer Price Growth Rate Stays at 0% for 3 Months
Consumer PricesThe growth rate of prices has continued to stay at the 0 percent level for 3 months in a row, raising growing concerns that deflation is coming. Statistics Korea reported on Mar. 3 that...
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POSCO Works with Local Companies for Business in India
Reaching OutPOSCO is holding hands with local companies for business expansion in the Indian market. The idea is to make a breakthrough with its steel mill construction in Odisha, that has been at a...
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Investment Corporation of Dubai to Build Business City in Incheon
Incheon InvestmentThe United Arab Emirates will establish the business-based Future City in Geomdan New Town located in Incheon City, South Korea, at an investment of US$3.6 billion. To this end,...
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Seoul Has Highest Clothing Prices in the World
Expenses MountSeoul has the highest clothing prices in the world, as determined by a survey conducted in 133 cities by the Economist Intelligence Unit of the Economist Group.According to the survey...
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KORUS FTA Facilitates Rapid Increase of US Car Imports
Quality ImportsThe Korea Automobile Manufacturers Association announced on Mar. 2 that a total of 4,442 U.S. cars manufactured in the United States were imported to Korea in January this year, a new...
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Overseas Credit Card Payments Hit New High
International CommerceKorean’s overseas credit card payments reached a new high last year owing to the increased number of outbound tourists and direct purchases. Likewise, foreigners’ credit card...
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North Korea to Collapse Soon
Northern InstabilityFormer top U.S. nuclear envoy Christopher Hill said that North Korea is expected to collapse soon.Christopher Hill, an American diplomat who was named the head of the U.S....
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Kim Young-ran Act to Jolt Korean Society
Bribery to Become IllegalIt is expected that the so-called Kim Young-ran Act for corruption prevention will cause a significant change in many areas of society. Under the new law, individuals who...
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Apple Beat Samsung Electronics in Smartphone Market Share in Q4 2014
Form Over FunctionAccording to Bloomberg, Apple accounted for 20.4 percent of the global smartphone market in the fourth quarter of 2014 by selling 74.8 million handsets, whereas Samsung Electronics...
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Korean Research Team Develops Tech to Draw Nano-scale Patterns in Semiconductors
Nanoscale PhotolithographyA technique has been developed to draw detailed patterns on the surface of semiconductors by controlling nanometer-sized cracks. It is expected to contribute to distributing...
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Imported Cars Sales Sharply Increase Even in Smallest Month
Inexorable PopularityAlthough the number of operating days in February were reduced both by the shortness of the month and the Lunar New Year holiday season, the sales of imported cars increased 21...
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SK Shipping Boosts Operating Profits by Improving Financial Stability
Stable Income SourceSK Shipping announced on Mar. 5 that it recorded 100.5 billion won (US$91.39 million) in operating profits last year to post a year-on-year growth of 707.2 percent. Its sales,...
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Large Corporations Increasing Investments in Startups
Fostering Brilliant IdeasInvestment firms and foundations associated with large corporations such as Hyundai, POSCO, and LG are continuing with their investments in startups to foster the growth of the...
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Currency War Escalating in Asia
War in AsiaThe Hyundai Research Institute said on Mar. 5 that Japan, China, and Singapore are intentionally depreciating their currencies to increase exports. It added that the other Asian countries...
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Foreign Investors Recorded Net Stock Purchases Last Month
Money InflowThe Financial Supervisory Service announced on Mar. 5 that foreign investors accounted for 30.7 percent, or 437.5 trillion won (US$398.1 billion), of domestic stock market capitalization as...
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Money Rushing into Money Market Funds
Capital InflowThe Korea Financial Investment Association announced on Mar. 5 that the total fund balance increased by 11.2 trillion won (US$10.2 billion) month-on-month to 407.8 trillion won (US$370.9...
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Fair Trade Commission Conditionally Approves Big Hanwha-Samsung Deal
Tipping PointThe Fair Trade Commission (FTC) conditionally approved the Hanwha Group’s acquisition of the Samsung Group’s chemical subsidiary.Recently, the FTC called Hanwha’s monopoly in the ethylene...
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Two Old Friends Build Stronger Ties in UAE
Best ResultSouth Korea and the U.A.E. agreed on Thursday to upgrade bilateral relations by expanding their mutual partnership. At the summit, President Park Geun-hye and Sheikh Mohammed bin Zayed...
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Terrorism Committed by Pro-North Korea Activist a Paradoxical Case
Attack on US AmbassadorU.S. Under Secretary for Political Affairs Wendy Sherman recently made a controversial remark, appearing to take sides with Japan on historical issues stemming from its wartime...
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