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DSME to Dispose of 6 Ailing Subsidiaries to Focus on Major Businesses
Hot PotatoesDaewoo Shipbuilding & Marine Engineering Co. (DSME) is planning to sell its ailing subsidiaries. As a measure to focus on its major businesses, the DSME is also considering to dispose...
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Medical Tours Emerge as New Growth Engine of South Korea
Doctor GuideThe Ministry of Health and Welfare announced on May 28 that a combined number of medical tourists from 2009 reached 900,000, which includes 267,000 foreign patients last year, and the...
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FKI Proposes Establishment of Asian-style Airbus to China
Asian CooperationThe Federation of Korean Industries (FKI) asked China to join hands to establish an Asian-style Airbus company. It believes that it could compete with Boeing of the U.S. and Airbus of...
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Tech Developed to Make Carbon Fiber using Spider Webs
Natural Carbon FiberA Korean research team successfully developed a technique to make carbon fiber, a futuristic material, using natural protein like a spider's webs.A research team headed by Jin...
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KARI Accelerates Commercialization of Unmanned Tiltrotors
UAVsPresided over by President Park Geun-hye, the Ministry of Science, ICT and Future Planning and the Presidential Advisory Council for Science and Technology presented the industry support strategies...
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OCI to Sell Non-core Subsidiary to Focus on Solar Sector
Solar FocusIn a bid to focus more on the solar sector, a core business for the future, OCI, Korea's largest polysilicon maker, promotes the disposal of its non-core subsidiary, OCI Materials.At a board...
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DSME to Sell Subsidiaries Other than Merchant, Specialized Vessels, Offshore...
Trimming FatDaewoo Shipbuilding & Marine Engineering Co. (DSME) CEO Chung Sung-leep said on May 29, “In order to not disperse our resources by business diversification, we will focus on our core...
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Daum Kakao to Acquire Social Networking Services Path, Path Talk
Kakao's PathDaumKakao has started to secure mobile platforms in Indonesia so that it can expand its global business.DaumKakao announced on May 29 that it will buy Path and Path Talk, US-based Internet...
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KT Gearing up to Start Internet of Small Things Business
Things on InternetKT's president is actively working to provide the Internet of Small Things service, accelerating preparations for related businesses. Hence, the industry is paying attention to...
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SKT Demonstrates 3D Augmented Reality Solution in Partnership with Google
AugmentationsSK Telecom announced on May 31 that it demonstrated the T-AR for Project Tango, which combined an augmented reality (AR) platform and Google's 3D motion-tracking technology and a device...
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Korean Government Launches IT Consulting Projects in 10 Developing Countries
3rd World AidAccording to the Ministry of Strategy & Finance and Korea EximBank, a total of seven overseas system consulting projects are scheduled in 10 countries, including Indonesia and Armenia,...
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Korea Ranks Seventh in 2013 in Size of Shadow Banking
Dark MoneyShadow banking in Korea, in a broad sense, increased by 157 trillion won (US$141 billion) year-on-year to reach 1.503 quadrillion won (US$1.351 trillion) last year. The broad-sense definition...
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Bosch Builds Wiper System Factory in Daegu
InvestmentDaegu City induced Bosch, a German automobile parts manufacturer, to the city’s national industrial complex. Bosch and Kyung Chang Industrial agreed on a deal to establish the “KB Wiper...
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Korea-China FTA Officially Signed
Freer TradeThe Korea-China FTA was officially signed on June 1, three years after the start of the negotiations. According to the agreement, China’s import tariffs on 7,428 trade items (90.7 percent)...
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SK’s New Sleep Disorder Medication Entering Phase 3 Clinical Trials in US
SleepytimeSK Holdings, the holding company of SK Group, announced on June 1 that its new medication for sleep disorders developed by SK Biopharmaceuticals, or SKL-N05, will enter phase 3 clinical...
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Hyosung ITX, Nokia to Establish National Disaster Management System
RecourseHyosung ITX, the IT cloud unit of Hyosung Group, has joined hands with global telecommunications equipment maker Nokia to establish an LTE-based national disaster safety communications network...
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Samsung SDS Enters Top 20 in Global IT Services
Global ITSamsung SDS has become the nation’s first IT company to enter the rankings of the top 20 global IT service companies.According to data from Gartner, Inc. by sales on June 1, Samsung SDS ranked...
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ETRI Actively Seeking to Enter ICT Market in Europe
Belgian UnderstandingThe Electronics and Telecommunications Research Institute (ETRI) announced on June 1 that it signed a Memorandum of Understanding (MOU) with Belgium-based ICT research center...
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Tech Developed to Make Spider Web-like Artificial Biological Fiber
Artificial WebsThe Korea Advanced Institute of Science and Technology (KAIST) announced on June 1 that Ryu Seung-hwa, professor of the Department of Mechanical Engineering at KAIST, succeeded in...
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Video Transmission Tech Led by Samsung Adopted as Standard in N. America, Japan
MPEG Media TransportThe Internet MPEG Media Transport (MMT) tech, which was jointly developed by Samsung Electronics, a local research institute, and universities, was adopted as a standard for...
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