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Hyundai E&C’s CSR Spreads Worldwide
Making It BetterHyundai Engineering & Construction (E&C) announced on April 29 that the company has been steadily involving in corporate social responsibility (CSR) activities for local...
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Samsung Electronics’ Galaxy S6 to Increase IM Operating Profits by 40%
Cash CowThanks to the launch of its flagship smartphone Galaxy S6, Samsung Electronics has shown an increasing trend in operating profits for two quarters in a row. For the semiconductor sector that...
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Korean Manufacturing Sector Losing Steam
Dropping ProductionAccording to an LG Economic Research Institute report released on April 29, Korean manufacturers’ year-on-year sales growth rate dropped one percentage point from a year earlier to...
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Korea-Turkey FTA Positively Affecting Korea’s Trade Surplus
Ten Times MoreKorea’s trade surplus with Turkey increased significantly after the free trade agreement (FTA) between the two countries became effective in May 2013.According to the Korea Customs...
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ATM Cash Withdrawals Based on Vein, Iris Recognition to Become Possible Next...
BiometricsThe Bank of Korea released a report on the popularization of new types of e-payment services on April 29. According to the report, the central bank is going to set up standards for biometric...
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Hyundai Motor Group Opts to Remain Loyal to Russian Market
Staying StrongThe Hyundai Motor Group is winning over an increasing number of Russian consumers by not surrendering to the depreciation of the ruble that has caused many automakers to withdraw from the...
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Korea’s Total Regulatory Costs Exceeded 158 Trillion Won in 2013
Cost of Gov'tThe Federation of Korea Industries (FKI) said on April 29 that Korea’s total regulatory costs are estimated at 158.3 trillion won (US$147.5 billion), equivalent to 11.1 percent of its GDP,...
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FDI in Korea Declined in Q1
Foreign Declining InvestmentThe foreign direct investment (FDI) in Korea, which had shown a constant increase for years, decreased in the first quarter of this year.According to the Ministry of Trade,...
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Google Sued by European Commission for Alleged Violation of Antitrust Law
Pre-crimeRecently, the European Commission sued Google, claiming that the pre-loading of Google applications on Android smartphones is in violation of the antitrust law. Google is striking back by...
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Kumho Tire to Exclusively Supply Official Racing Tires for the Auto Grand...
Rolling RubberKumho Tire will supply the official racing tires for the Auto Grand Prix World Series (Auto GP) to be held at the Hungaroring Circuit in Hungary on May 2, the company said on April 30....
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KEPCO Operates World’s Most Powerful Electric Power Generator in Jordan
25% of TotalKEPCO will own and operate the “Amman Asia diesel internal combustion power station” at Al Manakher, Jordan which has the world’s largest electric power generation capacity, the company...
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Kolon Pleads Guilty to Stealing DuPont’s Kevlar Tech
InfringementKolon Industries Inc., a South Korean company, “pleaded guilty to conspiracy to steal trade secrets involving E.I. DuPont de Nemours & Co.’s (DuPont) Kevlar technology”, the U.S....
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SK Innovation Turns from Deficit to Profit in Q1
TurnaroundGetting out of the red, SK Innovation will seek radical reform in the future.According to the first quarter results published by SK Innovation on April 30, low oil prices had positive effects...
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Gas Leak Kills Three at SK Hynix Plant; Third Gas Leak This Year
Death Toll RisingAnother accident occurred at an SK Hynix plant, which is reaching a record high. This was the second gas leakage at an SK Hynix plant in Icheon this year alone.On April 30, three...
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Consumer Reaction to G4 Disappointing
LG G4According to industry sources on April 30, the early consumer response to the G4, which was officially launched, was disappointing.The day before, LG Electronics President Cho Jun-ho told...
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Samsung Electronics Down to 4th in Chinese Smartphone Market in Q1
Penetrating ChinaAccording to the numbers, Samsung Electronics dropped down to fourth place in the Chinese smartphone market share, following local manufacturers Xiaomi and Huawei and Apple, in the...
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Hanwha to Develop Petrochemical Business as Global Top 5
Final MergerSamsung General Chemicals and Samsung Total Petrochemicals were finally renamed to become part of Hanwha Group. As the two companies were launched as Hanwha Group subsidiaries, Hanwha Group...
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Record-high Number of Imported Cars Put Up for Court Auction in Q1
Not Making PaymentsThe number of imported cars put up for court auction increased 42.8 percent from a year earlier, and more than five-fold compared to the same period of 2012, to 320 in the first...
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Sony is Transforming Itself
Making ComebackThe Wall Street Journal reported that Sony is making a comeback by means of its business with Apple and Samsung Electronics, two of its former rivals. According to the report, Sony is...
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Korea Aiming to Take Up 20% of Global Nanotech Industry by 2020
Small Scale MoveThe Korean government will invest 177.2 billion won (US$164.2 million) in the industrialization of nanotechnology this year. The budget goes to seven techniques for industrial...
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