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KCC Considering Administrative Action against Google
KCC and PrivacyGoogle’s Street View is again the target of Korean authorities, who believe that it may infringe on the Privacy Act.The Korea Communications Commission (KCC) is considering taking...
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MSIP, KT, YG Entertainment Unveil Hologram Concert Hall Clive
Public/Private HologramsThe Ministry of Science, ICT and Future Planning (MSIP) announced on January 16 that it will open a hologram music hall called Clive on January 18, in Dongdaemun’s Lotte Fitin....
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Public Apology, En Masse Resignations from Korean Bank CEOs
Information InsecurityLarge Number Resign after Admitting to Largest Data Breach in HistoryThe CEOs of KB Kookmin Card Co., Nonghyup Bank’s card division, and Lotte Card Co. bowed in unison at a news...
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Google Faces Difficulties Entering Korean Digital Music Download Market
Music DownloadsAccording to industry sources on January 19, Google formally announced that it would enter the Korean digital music download market. However, the company reportedly has had difficulty...
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Profits of Korean Mobile Game Developers Meager
Mobile Game IncomeWith mobile operating system (OS) developers such as Apple and Google, mobile carriers, and channeling platform operators accounting for 80% of the total profits in the Korean mobile...
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Samsung, LG Display to Increase Investment in Mass Production of Flexible...
Flexible DisplaysAccording to industry sources on January 19, the two display giants of Korea, Samsung Display and LG Display, are expected to place orders for equipment to mass-produce flexible...
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Mid-size Companies Asking Government to Lift Restrictions on Foreign Employment
Foreign EmploymentMore than 2,500 mid-size enterprises have been excluded from the foreign employment permit system, facing the double challenges of labor regulations and a lack of manpower. Experts...
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Kookmin, SC Banks Planning to Issue Covered Bonds
Covered BondsLocal commercial banks Kookmin Bank and Standard Chartered Bank are looking to issue covered bonds from April, when the issuance is scheduled to be allowed by law. Banking industry...
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SK Telecom, LG U+ Develop 4x Faster LTE-A
Three-band LTE-ASK Telecom and LG U+ announced on January 20 that they have succeeded in demonstrating the world’s first 300 Mbps LTE-A technology using three frequency bands. The speed is four times...
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Korean Chaebols Move to Circumvent Related-party Transaction Regulations...
Clever EvasionsIt has been found that as many as 20 key subsidiaries of major conglomerates are moving to evade the regulations on related-party transactions until about 20 days before the...
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Korea Beats Japan to Grab Second-largest Semiconductor Market Share
Semiconductor IndustryFor the first time since entering the semiconductor market in the 80s, Korea has become the second largest seller of semiconductor chips.Korea’s semiconductor chip manufacturers...
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Hyundai Heavy Industries Receives Order to Build World’s Largest Cargo Ship
Newer Largest ShipHyundai Heavy Industries has started working on the construction of the world’s largest cargo ship, with 19,000 TEU, or the capacity to hold 19,000 shipping containers that are...
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Alternative Reality Tech to Become Mainstream in 5-10 Years
“Total Recall” RealizationA report says that the alternative reality technology shown in the 1990 film Total Recall starring Arnold Schwarzenegger will be commercialized as early as five years from...
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Korea Develops Big Data-based Medical Information System
Medical Big DataIn Korea, patients will be able to easily get information about hospitals and estimated medical expenses related to their diseases by utilizing Big Data. Hospitals and medical nursing...
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Competition between Anipang 2, Candy Crush Saga Getting Keen amid Legal Dispute
Mobile Game CompetitionCompetition between Anipang 2 and Candy Crush Saga is becoming more intense, due to the immense popularity of Anipang 2. In particular, the competition in sales between the two...
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Samsung Not Using Qualcomm Modem Chip in Galaxy 5 LTE-A
Dependence ReductionIt is said that Samsung Electronics’ Galaxy S5 LTE-A, which is slated to be unveiled in March or April in London, will be equipped with its own Exynos application processor and...
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CMIM-based Cooperation Should be Enhanced to Address Increasing Financial...
Asian Capital MarketChoi Hee-nam, director of the International Financial Policy Bureau of the Ministry of Strategy and Finance, emphasized that macroeconomic measures should come into play to cope...
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Ssangyong Motors to Invest One Trillion Won over Four Years
Ssangyong’s TransformationSsangyong Motors will invest approximately one trillion won (US$936 billion) for four years to come in the development of new models. President Park Geun-hye met with Chairman...
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Korean Polysilicon Manufacturers Expected to Capture Opportunity in China
Polysilicon MarketKorean polysilicon manufacturers are enjoying an opportunity to increase their share in the Chinese market amid the trade dispute between the United States and China. Korea has a...
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Green Light for Korea’s Trade with Iran
Int’l TradeUS Temporarily Lifts Sanctions Against the CountryThe Obama administration issued a statement on January 20 that it would temporarily lift sanctions against Iran, as Tehran has taken steps...
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