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Rate of Increase in Exports from Korea Plummeted Last Year
Outflow DecreaseThe rate of increase in exports from Korea dropped to one-fifth last year in comparison to that of before the global financial crisis in the early 2000s.According to the Bank of Korea’s...
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Korea’s Insolvency Risk at 88-month Low
Good NewsThe Korea Center for International Finance announced on May 18 that the credit default swap (CDS) premium for Korea’s five-year foreign exchange stabilization bond reached 46.2 basis points on...
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Korean Wave to Further Spread in India
Bollywood HallyuOn May 18, Minister of Trade, Industry & Energy Yoon Sang-jik and Anil Wadhwa, Secretary (East) in the Ministry of External Affairs of India, signed an agreement in Seoul for the...
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Korea Has Become More Dependent on Crude Oil from the Middle East
Mideast CrisisAccording to the Korea Petroleum Association, crude oil exported by the 12 OPEC member countries accounted for 86.76 percent of the crude oil Korea imported in the first quarter of this...
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Alibaba Chairman Jack Ma Searching for Partner Company in Korea for ‘Koreapay’
Alibaba to South Korea Jack Ma, chairman of Alibaba, said: "Like Alibaba's Alipay, I'd like to make Koreapay, online payment service optimized for Korea, for the Korean market." Those remarks were made...
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Korea Has the World's Cheapest Cell Phone Plan
Mobile Billing PlanSK Telecom, KT, and LG+ introduced data-centered cell phone plans, thereby finalizing the government's work to revamp cell phone plans toward unlimited voice calls and data at a...
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Data Transmission with LED Light to Be Possible
Visible Light Communication A Korean research team successfully developed a method to remotely control lightning by storing digital information to LED light. The convergence of LDE lightening...
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Payment Gateways to be Classified as Forex Handlers
Expansion of Forex HandlersOn May 19, the Ministry of Strategy & Finance made a prior announcement of legislation for including payment gateways (PGs) into the category of organizations engaged in...
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Korean Medical Equipment Manufacturers Putting Up a Good Show Abroad
Medical ExportsLocal medical equipment manufacturers have been making good performances based on their increasing exports even though the growth slowed down last year due to the falling foreign...
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Industrial R&D Cooperation between Korea and Europe Picking Up Speed
Industrial R&D PowerAccording to the Ministry of Trade, Industry & Energy, the R&D costs invested by Korea in international industrial technology research projects increased from 7.4...
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Korean Petrochemical Industry is Losing Steam
Weakening CompetitivenessAccording to global energy research and consulting firm Wood Mackenzie, the United States is expected to invest more than US$130 billion as capital costs in LNG and...
View ArticleNarendra Modi, Indian Prime Minister, visited Hyundai Heavy Industries
Hyundai Heavy Industries link with IndiaNarendra Modi, Indian Prime Minister, visited Hyundai Heavy Industries (HHI) in Ulsan on May 19.Mr Modi asked HHI to be a partner for the development of Indian...
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Incheon Airport is the priory bidder for operation consulting of “Istanbul’s...
Incheon Airport consults IstanbulThe International Incheon Airport Corporation (IIAC) has become a priory bidder for operation consulting company selection for the “Istanbul’s new airport project”,...
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KTH and VTN's MOU targets Vietnamese digital broadcast market
Vietnamese digital broadcastSouth Korean KTH and VTV, Vietnamese state-owned TV, concluded a memorandum of understanding (MOU) on May 19, KTH said.Through the MOU, KTH will provide its digital contents...
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Korean to Develop FIDO Tech Using Biometrics-embedded Public Key Infrastructure
Simple Payment TechThe Korea Internet & Security Agency (KISA) announced on May 20 that it will work to develop a technology capable of linking Fast ID Online (FIDO) using Public Key Infrastructure...
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DSME, POSCO Developed New Material for LNG Storage Tank
New Material for TankerDaewoo Shipbuilding & Marine Engineering succeeded in developing high manganese steel for use in LNG storage systems. The company explained that the new development would...
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LG Group Increasing Its Presence in Auto Parts Industry
Future Core BusinessLG Group is nurturing the auto parts business quickly by creating the synergy of converging electronic devices, telecommunications, parts and batteries, which would lead to its core...
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500 Leading Korean Companies’ Sales, Profits Dropped Last Year
Poor PerformancesAccording to market research firm CEO Score, the top 500 Korean companies’ combined sales and operating profits decreased by 4.4% and 10.2% to 2,527.945 trillion won and 125.767...
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Seoul Ranks 11th in A.T. Kearney’s Global Cities Index
City GlobalizationGlobal management consulting firm A.T. Kearney released the Global Cities Index (GCI) on May 20. The index is to measure the level of globalization of 125 cities around the world by...
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“Korea’s Economic Growth Rate Might Dip Below 3% This Year”
Gloomy ForecastThe Korea Development Institute (KDI) adjusted its Korean economic growth forecast for this year from 3.5% to 3.0% on May 20 in view of the likelihood that the stagnation in export will...
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