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KERI: 'Huge e-Commerce Trade Deficit Calls for Cultivation of Korean Firm...
Local EquivalenceA Korean Economic Research Institute (KERI) report says that since Korea suffers an e-commerce trade deficit amounting to 1.3 trillion won (US$1.1 billion), the country urgently needs...
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Samyang Corp. Merges with Samyang Genex
ConsolidationSamyang Corporation, Samyang Holdings’ subsidiary, announced on Sept. 11 that the company will merge with Samyang Holdings’ other subsidiary, Samyang Genex. The merger ratio was...
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Foreign CEOs: 'Labor Market Needs to Become More Flexible to Receive More...
Debate ResultsForeign companies in Korea are skeptical about the current Korean labor market and want to see it become more flexible.“We finalized collective bargaining agreements without labor strikes...
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Samsung Lacks the Style of Apple, According to Recent Report
Area of ImprovementThe lack of a star designer was cited as the reason why Samsung Phones don't have the luxury image of Apple's iPhone, according to a report published by the KT Economics &...
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Samsung to Launch Mobile Messaging App with More Features then KakaoTalk
Bean Killer?Samsung Electronics announced on Sept. 16 that it will release its new messaging app called Socializer through Samsung Tomorrow, its official blog, mounting a serious challenge in the...
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SK Chemical Taps into CMP Pad Market for Semiconductor Wafers
Chemical Mechanical PolishingSK Chemicals is strengthening its business ability further on high value-added materials based on semiconductors. With a synergy with other subsidiaries, including SK...
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‘Naver Works’ to Start Charging within This Year, Smashing into Google, MS in...
Works MobileNaver will start charging for the use of “Naver Works,” which was originally launched last year as a free company cooperative service, from as early as next month.The company, which was...
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KT Accelerating Construction of IoT Ecosystem with 200 Companies
Internet of Cooperative ThingsKT is spurring the construction of an ecosystem for the local Internet of Things (IoT) industry in the belief that its first priority is to create a virtuous circle by...
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Sharp Rise in Demand for AMOLED Smartphones Gives Another Chance to Samsung...
AMOLEDThe popularity of smartphones with AMOLED displays is increasing.On Sept. 17, market research firm IHS iSuppli reported that the sale of AMOLED screens for smartphones has continued to increase...
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All Things Considered, Koreans Earn More than Japanese
Wage PowerSome Korean laborers earn more money than Japanese laborers. It has been revealed that the average salaries of workers in Korea’s three major export industries -- automobile, shipbuilding,...
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Lotte New York Palace Debuts in New York
RebrandingLotte has thrown its hat into the New York ring to compete with other global hotels. The Korean company changed the name of the New York Palace Hotel in the center of Manhattan into Lotte New...
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Application Markets Have Worrying Provisions
International WorriesGoogle and Apple both have good reputations for their application markets. But it was revealed that their application markets have some bad provisions.“Analyzing materials in the...
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Nongshim Celebrates 50th Anniversary
Day of GratitudeNongshim (CEO Shin Choon-ho) released a business blueprint for Baeksansoo, its natural mineral water, on the 50th anniversary of the company’s foundation.Nongshim has been a leading...
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Local Smartphone Ecosystem Stagnates
Slow SalesThe shares of Samsung SDI and LG Chem in the global mobile and IT device lithium-ion battery market are likely to fall for the first time in four years this year.According to market research...
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Leading Korean Conglomerates are Investing More Funds
Investment IncreaseThe Federation of Korean Industries (FKI) announced on Sept. 20 that the 30 largest Korean business groups, including the Samsung and Hyundai Motor Groups and excluding financial...
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Low-cost Smartphones Likely to Take up Two-thirds of Global Market in Five Years
Affordable AlternativeThe ratio of high-end smartphones is predicted to decrease significantly until 2020 across the world, while that of budget smartphones is expected to increase to two-thirds of the...
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Hyosung Builds Additional PP Plant with 200,000 Tons Annual Production Capacity
PolypropyleneHyosung is building an additional plant to manufacture polypropylene (PP), which is used in producing plastic containers, drain pipes, and medical syringes. In order to do so, the company...
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Korea’s Overseas Resources Development Going Awry
Overseas LiabilitiesAccording to ruling Saenuri Party lawmaker Jun Ha-jin, who is a member of the Trade, Industry & Energy Committee of the National Assembly, the Korea National Oil Corporation...
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Koreans in the Face of Rapidly-increasing Social Insurance Costs
Cost of SocietyKorea has the highest rate of increase of social insurance cost burdens imposed on the public in the OECD.According to the Korea Employers Federation’s report released on Sept. 20,...
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Mexico Celebrates 205th Independence Day with Music, Tequila
Mariachi MerrimentThe Embassy of Mexico in Seoul commemorated the 205th Independence day of Mexico at the Grand Hyatt on Sept. 15. On this occasion, H. E. Jose Luis Bernal, the ambassador of Mexico to...
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