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Korea Just Playground for Foreign Communications Equipment Suppliers
Uncompetitive 5G TechThere are increasing concerns about the possibility of Chinese and European communications equipment suppliers dominating the Korean 5G mobile communications market.According to...
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Importance of Top Management Abilities Returning to Spotlight
Captains of IndustryOwner-led management is drawing attention again. Although this type of business management has been criticized for a while since the IMF bailout in the late 1990s, its advantages...
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Ground Shrinking beneath DSME’s Feet
Careening off a CliffControversy is brewing over who should be responsible for the insolvency of Daewoo Shipbuilding & Marine Engineering (DSME). Many experts claim that the Korea Development Bank...
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Chinese Consumer Electronics Manufacturers Poised to Overtake Korean Competitors
Currency ChangeThe Korea Economic Research Institute advised that Korean consumer electronics manufacturers sharpen their competitive edge by means of high-end products using the Internet of Things and...
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'Hardware Startups are Key to Creative Economy'
Maker MovementThe Korea Creative Economy Research Network held an open forum on July 21 and proposed the promotion of the growth of hardware startups based on manufacturing technology for more venture...
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GS Home Shopping Makes Strong Alliance in Russian Market
Big Universal MallGS Home Shopping, the retail arm of the GS Group, said on July 22 that it has teamed up with Russia’s state-run telecommunications firm Rostelecom PJSC to launch a new home shopping...
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Hanjin Group to Nurture Logistics Ventures in Incheon City
Creative InitiativeThe Hanjin Group and the Ministry of Science, ICT and Future Planning opened a new creative economy and innovation center in Songdo, Incheon City, on July 22. The Center is the last...
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CGV Opens World’s First Reclining Bed Cinemas
Movies in StyleCGV announced on July 22 that it has opened the world’s first reclining bed cinemas, dubbed “Tempur Cinemas” at the CGV Cine de Chef locations in Apgujeong-dong and Centum City in Busan....
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SK Planet Secures Indoor Location Technology to Target O20 Market
Can't Hide IndoorsSK Planet, a spin off of SK Telecom, the leading South Korean operator, announced that it has signed a US$3 million (3.46 billion won) business partnership on July 22 with...
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E-Land Completes French-themed Kensington Flora Hotel Renovation
Pyeongchang AccommodationsThe E-Land Group announced on July 22 that it has completed part of the room renovations in its Pyeongchang Kensington Flora Hotel in Gangwon Province and is holding an...
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PayGate Pledges to Become Asia’s Largest Remittance Company
ForEx PowerPayGate, a global leading payment services provider, announced that it has been approved by the Ministry of Strategy and Finance as foreign exchange institution on July 17.Based on 17 years...
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Tech Leaked from Hacking Team Leads to Spread of Malicious Code
Code ReuseThe misuse of a tech leaked from an Italian hacking company has reportedly resulted in the spread of malicious code at South Korean websites related to North Korea.On July 22, security...
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Korea’s GDP Growth Stays below 1% for 5 Consecutive Quarters
Low Growth TrapThe national economy posted growth of less than 1 percent for five consecutive quarters amid the protracted slump in local consumption and weaker exports. Since peaking at 1.1 percent in...
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Won-dollar Rate Hits Record 37 Month High
Soaring DollarThe U.S. dollar surged 11.5 won or 0.99 percent on July 23 from the previous trading session to close at 1,165.1 won, marking the highest price in 37 months since it traded at 1,165.6 won...
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LG to Launch Innovative Dual Tub Washing Machine
Twice as NiceLG Electronics has unveiled its new dual tub washing machine, the LG Twin Wash System.The nation's leading consumer electronics manufacturer held a celebration to launch the new high-end...
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Rumor Spreading about Google’s Takeover of LG Electronics’ Shares
Flat DenialA rumor has suddenly started to spread that Google, the global leader in the information technology industry, will acquire a stake in LG Electronics. An LG Electronics spokesperson denied...
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Kia Carnival Overtakes Toyota Sienna with Best US Customer Satisfaction
Best Minivan EverThe Kia Sedona (Carnival in Korea) was selected as the Best Minivan in terms of customer satisfaction by J.D. Power & Associates, the world’s leading market research firm best...
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Park Requests Continued Support for Creative Economy
Private Sector SupportPresident Park Geun-hye held a meeting with the heads of her innovation centers and leaders of conglomerate sponsors of the centers to emphasize continued support for her...
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Ssangyong Motor Sees Mounting Losses despite High Sales of Tivoli
Good and BadSsangyong Motor Co., owned by India’s Mahindra & Mahindra, announced on July 23 that it sold a total of 69,800 cars, including 45,410 units in the domestic market and 24,390 units in...
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Samsung Electronics Dubai Engaged in Accounting Scandal
DisgraceA large-scale accounting scandal has broke out in Samsung Electronics Dubai. The incident was exposed through an internal inspection, and some Samsung Electronics headquarters employees are...
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