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Korean Taxi Apps to Compete with One Another Now That Foreign Service...
Local Taxi AppsDaum Kakao announced on March 23 that its app-based call taxi service Kakao Taxi will launch on March 31. The service comes in two applications, one for drivers and the other for...
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Offline Retailers Threatened by Changing Population Structure, Smartphones
Dwindling Offline RetailersThe Korea Chamber of Commerce & Industry (KCCI) announced on March 23 that domestic mobile shopping sales increased 122 percent from 5.9 trillion won (US$5.3 billion) to...
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China, Japan Deregulating Their Special Economic Zones
Urgent DeregulationJapan and China are expanding their national strategy and free trade zones for economic deregulation and differentiation. Meanwhile, the Incheon Free Economic Zone (IFEZ) Authority...
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New Zealand Now South Korea's 13th Free Trade Partner
KNZ FTASouth Korea and New Zealand formally signed a free trade agreement (FTA) on Monday.New Zealand is South Korea's 40th largest trading partner, while Korea is currently New Zealand’s 6th largest...
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Korean Culture and Information Service Broadens Global Reach
Crest of Korean WaveLaunched in 1971, the Korean Culture and Information Service (KOCIS) started as a communication bridge to promote Korean national brands overseas. KOCIS is dedicated to providing...
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Public Sector Adopts New Hiring Rules
Changing StandardsApproximately 3,000 job seekers in South Korea will have a chance this year to get a job in a public organization via the new National Competency Standards (NCS). The new standards...
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Oil Price Drop Causes Highest Terms of Product Trade Recorded in 4 Years
Oil Price DropIn February, the terms of trade of exported and imported products reached the highest level in four years and seven months because of the drop in oil prices.According to February’s Trade...
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LG Electronics Acquires World’s First International BS10012 Certificate in...
Personal Information ManagementLG Electronics has acquired an international certificate for the personal information management system for the first time in the global electronics industry.The British...
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Ssangyong Motor Appoints Choi Johng-sik as New CEO
Ssangyong’s New ChairSsangyong Motor has appointed the head of its Sales Planning Division, Vice President Choi Johng-sik, as its new CEO.Before joining the company, Choi served as head of the export...
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Lotte Chairman Says 2nd Lotte World Tower to Become Korean Landmark
Korean LandmarkThe height of the 2nd Lotte World Tower passed 413.65 meters 4 years and 5 months after it started construction. It is the first building built in Korea to have reached 100...
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Non-duplicable Artificial Fingerprints to be Commercialized in 3 Years
Artificial FingerprintKorean researchers have developed artificial micro fingerprints that are fundamentally non-duplicable.A research team led by Prof. Kwon Sung-hoon of the Electrical and Computer...
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Samsung Electronics to be Frontrunner in Comprehensive Semiconductor Industry
Samsung's DreamSamsung Electronics' dream to rank first place in comprehensive semiconductor manufacturing is about to come true. Samsung is seeing successes in both sales (market share) and profits....
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100th Research Lab Registered
Creative Economy PioneersIt has been found that 89 research lab companies in Korea recorded 232.7 billion won (US$211.1 million) in sales and hired 847 employees last year. A research lab company can...
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Korea Poor at Managing Social Conflict
Social ConflictThe Korea Institute for Health and Social Affairs announced on March 24 that Korea ranked 27th among the 34 OECD member countries in its Social Conflict Management Index for 2011. The...
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Government Releases Specific Plans for Future Growth Engine Development
Pan-governmental ProjectsThe Ministry of Science, ICT & Future Planning and the Ministry of Trade, Industry & Energy released action plans for the 19 projects constituting the Future Growth...
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Korea-Canada FTA Expected to Help Korean Carmakers
Helper in Car BusinessThe Korea Automobile Manufacturers Association announced on March 24 that the Korean automakers’ market share in Canada dropped from 12.6 percent and 12 percent to 11.2 percent...
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3rd-gen Owners of Samsung Group Coming to Forefront
Inherited DispositionsWith Samsung Group Chairman Lee Kun-hee staying in the hospital for over 10 months, his son and daughters – Vice Chairman Lee Jae-yong, Hotel Shilla President Lee Bu-jin, and...
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Hyundai Motor Chairman Pledges to Overcome Triple Distresses with Top Quality
Chairman’s PriorityHyundai Motor Chairman Chung Mong-koo flew to the U.S., the largest automobile market in the world. He chose that country as the first place of his management by wandering around...
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“Saimdang, the Herstory” to be Framed by Lee Young-ae’s Touch
Star Re-shiningLee Young-ae will be returning to the TV soon. After her marriage and childbirth she took a 10-year hiatus. But her fans couldn’t forget her, and still miss her role as the main...
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Huge Investment Scheduled for Renaissance of ICT Industry
Nine TrillionThe Korean government will invest 9 trillion won (US$8.1 billion) in the ICT industry for the next five years, in order to reach 240 trillion won (US$217.9 billion) in industry output and...
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