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Bank of Korea Adjusts GDP Growth Estimate Downward
Pessimistic OutlookThe Bank of Korea adjusted its GDP growth forecast for this year downward from 3.4 percent to 3.1 percent, and its consumer price inflation forecast from 1.9 percent to 0.9 percent,...
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Japan Should Meet Prerequisites for Future Interests to Share
Role of the LeaderAccording to the Future Research Center, 61 percent of Americans consider Japan’s apology for its wartime atrocities enough, and 68 percent of Americans and 75 percent of Japanese...
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Chinese Tourists Pay through Alipay Wallet in Korea
Chinese ConvenienceChinese tourists visiting Korea can pay at affiliated offline stores like duty free shops with only Alipay Wallet installed in their smartphones.Hana Bank made an alliance with...
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Combined DRAM Market Share of Samsung, SK Reached 70% in Q4 Last Year
Leading Global DRAM MarketSamsung Electronics and SK Hynix occupied a combined share of 70 percent last year in the world DRAM market, which is the highest record in history. Samsung Electronics...
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Sung Wan-jong Confesses to Bribing Blue House Officials before Committing...
IrreversibleSung Wan-jong, the chairman of Keangnam Enterprises, admitted to giving bribes to Kim Ki-chun and Heo Tae-yeol, former chief secretaries of the Blue House, before ending his own life...
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Park Expects 9th Innovation Center to Lead Manufacturing Innovation in Gyeongnam
Mechatronics HubThe 9th Center for Creative Economy and Innovation officially opened in Gyeongnam on Thursday. South Gyeongsang Province is well known as South Korea’s traditional manufacturing hub. It...
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Korean Home Shopping Reaches Out to Global Fashion Business
Global Fashion CollaborationCJ O Shopping, the TV shopping unit of the CJ Group, announced on Thursday that it has an exclusive licensing contract for cooperate development with Vera Wang, an American...
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SK Telecom and Pixtree Develop Real-time HEVC Encoder
New Compression HardwareSK Telecom and Pixtree have co-developed a real time high definition hardware encoder, SK Telecom said it a press release on April 10.The encoder only takes 0.5 seconds from...
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Mission to Complete the Pacific Rim Summit Diplomacy
Visiting South AmericaPresident Park Geun-hye will embark on a four-nation tour of South America later this month. The presidential tour is planned to expand Korea's economic influence in South America...
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Korean Stock Market Poised to Show Upturn
More PointsThe Korea Composite Stock Price Index (KOSPI) is about to break the 2,100 point mark, and the Korean Securities Dealers Automated Quotations (KOSDAQ) is poised to exceed 700 points. Under...
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Samsung, LG Electronics Took Up 40% of Global Smart TV Market Last Year
Smart Segment DominationKorean smart TV manufacturers are maintaining their upper hand in the emerging Internet of Things (IoT) market. Market research firm DisplaySearch said on April 13 that Samsung...
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Overseas Mobile Game Markets Showing Rapid Growth
Necessary ExpansionGame developers such as Nexon, Com2Us, Neowiz, and DragonFly are planning to release mobile games in fast-growing markets such as Taiwan and Southeast Asia as well as Japan, China,...
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100+ Global Leaders Agree to Solve Global Water-related Problems Together
Ministerial DeclarationGlobal leaders from more than 100 countries gathered around tables and agreed on the necessity of concentrating global will to solve water-related challenges. Ministers and heads...
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Samsung, Micron Increase Market Share in NAND Market Due to High Demand of SSDs
Increased SalesBased on the strong demand of Solid State Drives (SSDs), Samsung and Micron increased their shares of the NAND flash memory market last year. On the other hand, Toshiba, which trailed...
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South Korea-Turkmenistan Summit Leads to US$13 Billion Plant Project
Business DiplomacyThe South Korean government is going to construct a natural gas plant in Turkmenistan, which has the world’s fourth largest natural gas reserves. The government is supporting a US$13...
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Domestic Shipbuilders Directly Hit by Low Oil Prices
No Offshore OrdersThe offshore plant businesses of domestic shipbuilders are being directly hit by low oil prices. The companies haven’t yet received any orders this year at all. The businesses were...
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Steel Industry Likely to Face Negative Prospects Long-term
Raw Materials PriesDespite initial concerns, the steel industry showed good results in the first quarter. Taking a closer look, however, reveals that the results were largely due to an “unstable...
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Petrochemical Companies Accelerate Chemical Business Expansion Based on...
Competitive MeasureDomestic petrochemical companies, which depend on oil as a traditional energy resource, are expanding their non-oil based chemical businesses. Petrochemical companies have built...
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2nd Phase of Korean Rocket Development Project to Start in August
Test Launches ComingThe development project of a Korean rocket or launch vehicle will start its second phase in August. In this second phase, a total of 802 billion won (US$727.44 million) will be...
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LG Smart Audio to Feature Google Cast
Smarter AudioLG Electronics will offer Google Cast in its lineup of Smart Audio (Model NP8740, NP8540, NP8340) and Wi-Fi Sound Bars (Model LAS750M), strengthening its global audio market invasion....
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