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Chaebols Pondering Better Corporate Governance
Grasping More FirmlyIn the wake of the Samsung Group and Elliott Management clash, it would be wise for Korean business groups to reform their corporate governance structures, because most of them are...
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Korean Police Security System Appeals to Foreign Police Officers
Safe SafetyThe 2015 Summer Universiade, which was held in the city of Gwangju from July 3 to July 14, became an opportunity to publicize the Korean police force's advanced public security system....
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New Winners of Licenses to Run Duty-free Shops in Downtown Seoul
Golden TicketA much-hyped bidding race for licenses to run new duty-free stores in Korea ended on July 10. The license for a shop in Jeju City went to the Jeju Tourism Organization. The Korea Customs...
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Kumho to Supply Tires for New Dodge Viper ACR
Driving ExcellenceKumho Tires (CEO Kim Chang-kyu) announced that the company will supply OE tires for the 2016 Dodge Viper ACR. Dodge is a brand of the global automotive company Fiat - Chrysler...
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DongA ST Signs License Agreement with Russian Geropharm for Diabetes Drug...
Market ExpansionOn July 20, DongA ST (CEO Park Chan-il) announced that the company signed a license contract with Russian Geropharm for its recently-developed diabetes drug Evogliptin.Under the...
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Korean Smartphone Makers Struggle in Latin American Market
Downward TrendIt has been 7 years since Brazil, one of the two major contributors to the growth of the global smartphone market along with China, saw smartphone sales decline.According to the IDC and...
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Financial, IT Companies Register as Electronic Financial Business Operators
Fintech CrazeWith the financial technology (fintech) craze in the financial and IT sectors, the number of companies registered as electronic financial business operators from Jan. 1 to July 17 of this...
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Korean Cars Lose Ground in China’s Auto Market
Economic SlumpDue to the economic slowdown and poor domestic consumption, both vehicle productions and sales simultaneously decreased for the first time in seven years in China, the world’s largest...
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Ruling Party to Push Ahead with Labor Market Reform, Even If Unpopular
Top PriorityThe Korean government and the ruling Saenuri Party set labor reform as their top priority for the second half of this year.In this context, they are going to be in pursuit of labor market...
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Wage Peak Emerging as Key to Labor Cost Reduction
Worker ProblemKorean companies will have to bear more than 115 trillion won (US$99 billion) in additional labor costs for five years in the case where compulsory retirement is raised to 60 without a...
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More Discussions Required to Protect of Corporate Management Rights
Mandated LeadershipSince the opening of the Korean capital market back in 1997, debates as to the introduction of measures for protecting corporate management rights have repeatedly emerged and...
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Venture Financing in Korea Led by Private Sector
Angel InvestorsThe Financial Services Commission released a plan to facilitate the financing of small and venture firms on July 19. The idea is to boost their self-sustainability by means of private...
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Supply Glut Looming Large in Semiconductor Market
Too Many ChipsThe global semiconductor market is expected to slow down for a couple of years due to the sluggish demand for PCs and smartphones. Under the circumstances, Samsung Electronics and SK...
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Chairman Invites Viscount to Lotte World Tower
Noble MoveLotte Group Chairman Shin Dong-bin invited Hugh Trenchard, a senator of the U.K. Parliament and a viscount, to the Lotte World Tower Mall. Shin showed Trenchard around the construction site,...
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Jjawang Selling Like Hotcakes of Made of Ramen
Thick, Juicy DeliciousnessNongshim's newly-rolled-out instant “jajang” ramen, named Jjawang, chalked up 10 billion won (US$8.7 million) of sales in May. Jajang is the name of a black savory bean sauce...
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HHI to Face Greatest Crisis Ever as Labor Union Threatens Strikes
Rock and Hard PlaceThe labor union of Hyundai Heavy Industries (HHI) will go on strike for higher wages worth some 250,000 won (US$216.56) per month again this year. Even though HHI showed the...
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Samsung to Release Galaxy Note 5 One Month Ahead of Schedule
Ahead of ScheduleSamsung Electronics, which is losing ground to Apple’s iPhone 6, has decided to release the Galaxy Note 5 next month ahead of schedule. Also, the company will launch the Galaxy S6 Edge...
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OCI to Sell U.S. Subsidiary, Focus on Solar Power Generation
Drawing TogetherOn July 19 (local time), OCI Co., South Korea's leading solar power firm, signed a contract with Istanbul-based energy company Ciner Group to sell its chemical affiliate OCI Chemical...
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Conduct Surveillance, 'Cleaning' Operations on Your Own Home via LG's...
Roboking Turbo PlusLG Electronics announced on July 21 that it has released a new premium robotic vacuum cleaner, the “Roboking Turbo Plus,” which has improved smart cleaning and surveillance...
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Growing Competition for Ultra-slim Smartphones with AMOLED Screens
Thinner, SmallerAs the product performance of smartphones has standardized, the design of handsets has become an important factor in competition. Now, ultra-slim smartphones designed for use with just...
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