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Unemployment Rate Soars to 4.6% in February from Mid-3% last Year
Soaring Unemployment RateAccording to the Ministry of Strategy and Finance and Statistics Korea on March 29, the number of unemployed people recorded 1.203 million as of February, increasing sharply...
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China is Realizing Its Dream
Chinese DreamChinese President Xi Jinping attended the Boao Forum on March 28 and said that China will grow together with its neighboring countries so that China’s development can have substantially...
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Samsung Electronics Focusing on Fintech for Future Growth
Future Growth EngineSamsung Electronics is expanding its business in the financial market for sustainable growth based on fintech. Samsung Electronics has led the growth of the entire Samsung Group as...
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Coloring Books Fascinating Korea's Adult Population
Return to InnocenceAs spring comes, Easter comes closer, and with them, more colors. These colors will be more appreciated by most everyone in Korea this year, as the country has been turned on to...
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Final Farewell to Singapore's Founder Opportunity for Funeral Diplomacy
Park Pays RespectsPresident Park Geun-hye attended the funeral of Singapore's founding Minister Lee Kuan Yew on Sunday.Lee, who died last Monday at 91 after spending weeks in intensive care for...
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LG Electronics’ Target Stock Price Drops Despite Expectancy of G4 Launch
Lowered Target PricesRegarding LG Electronics, Daishin Securities said that it still has expectations of the potential of the G4, and its attractiveness for valuation will increase with the sales...
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TmaxSoft Poised to Beat Oracle in DBMS Market
Local DBMSWith its new database management system (DBMS) called Tibero 6, TmaxSoft (kr.tmaxsoft.com) is competing with the Oracle Corporation, the world’s largest computer technology corporation, in...
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Fashion Group Hyungji Takes Over Esquire
Fashion M&AFashion Group Hyungji signed an M&A investment contract with EFC, which possesses shoe brands including Esquire. A total of 67 billion won (US$60.58 million) for the undertaking will...
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KCC Accused of Bending Rules for SKT
No Apparent PenaltyThe Korea Communications Commission (KCC), the state telecommunications regulator, has penalized SK Telecom with a fine of 23.5 billion won (US$21.3 million) and a seven-day business...
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Korean Government to Work on New Smart Home Standards
Smart Home StandardizationThe Korean government will update its national smart home standards to prepare for the era of the Internet of Things (IoT). The idea is to come up with a comprehensive...
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KT to Create New Industries through ICT Convergence
Korean Tech CityKT Chairman Hwang Chang-kyu said on March 30 at the Gyeonggi Creative Economy Innovation Center opening ceremony that its new research institute located in Pangyo will become the hub of...
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Korean IT Firms Need to Collaborate with Foreign Hardware Companies
Hardware CollaborationAn increasing number of non-Korean hardware manufacturers are combining their products with Korean firms’ solutions to better penetrate the Korean market. It has also been pointed...
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Korean Oil Companies’ Exports to Middle East Facing Threat
From Buyers to CompetitorsSaudi Arabia’s refinery capacity has exceeded that of Korea last year. In 2014, Saudi Aramco and Aramco Sinopec completed the construction of new refineries having a capacity...
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Plug-in Hybrid Electric Vehicles to be Priced at 40-100 Million Won
PHEV CompetitionThe plug-in hybrid electric vehicles (PHEVs) are about to pour into the domestic market.A full lineup of PHEVs is likely to be seen in the first half of the year from sports car luxury...
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Cyber Security Control Tower Centered on Office of National Security
Cyber Attack CountermeasuresKorea's presidential office plans to set up a cyber security control tower inside its National Security Office to deal with cyber attacks. Spokesman Min Kyung-wook says that...
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CISM Organizing Committee Reports Smooth Preparations for Military World Games
Military OlympicsAn event was held on March 27 to prepare to successfully host the International Military Sports Council (CISM) Military World Games, which is considered to be “the Olympics of...
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Ssangyong Motor Starts Overseas Shipments of Tivoli
Ssangyong’s Compact SUVSsangyong Motor (www.smotor.com) has started exporting its Tivoli compact sport utility vehicle (SUV), which is already popular in the domestic market. Ssangyong Motor will begin...
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Samsung, LG Agree to End Legal Disputes
CeasefireSamsung Electronics, Samsung Display, LG Electronics, and LG Display issued a joint statement on March 31 saying that they have agreed to end ongoing legal disputes. Accordingly, a total of...
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NH Bank to Introduce First Open Fintech Financial Platform in Industry
Fintech Financial PlatformNH Bank has announced on March 31 that it will introduce an “Open Financial Platform” in a bid to support the fintech businesses for the first time in the domestic industry....
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Medical Tourism at Crossroads between Opportunities and Crises
Facing ChallengesThe medical tourism industry of Korea is at a crisis, as public opinion in China, the number one customer, is getting worse. The risk and the number of cases of serious medical...
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