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Oil Refining Companies Seeking New Growth Drivers
Business DiversificationFour major oil refining companies in Korea – SK Innovation, GS Caltex, S-Oil, and Hyundai Oil Bank – are diversifying their business portfolio so as to reduce their dependence...
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Fund Recovery from Venture Investment Facing Difficulties
Obstacle to Virtuous CycleInvestment in venture firms is soaring in Korea these days, thanks to the Park Geun-hye administration’s creative economy drive. Meanwhile, fund recovery is failing to enjoy...
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Traffic for Naver, Daum Increase While Others Fall
Korea OnlineTraffic of major portal and news sites decreased in 2013. Only Naver stood tall and maintained its grip on number one.According to figures released by DMC Media on February 3, traffic for...
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Kakao Valuation at 2.35 Trillion Won
Online FortuneAccording to related sources on February 3, the Berjaya Group in Malaysia bought a 0.4 percent stake of Kakaotalk at 90,000 won (US$83.04) per share. Taking that trade into account, and...
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Koreas Agree Again to Restart Family Reunions
Vacillating RelationshipSEOUL, Feb. 5 (Yonhap) -- South and North Korea agreed Wednesday to stage reunions later this month for families separated by the 1950-53 Korean War, an official said, a move...
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Watch Movies While Working with Super Wide LG Monitor
In-plane Switching PanelsSEOUL, Feb. 5 (Yonhap) -- South Korea's No. 2 tech giant, LG Electronics Inc., said Wednesday it plans to launch a new monitor equipped with in-plane switching (IPS) panels,...
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S. Korea Proceeds with Second Kaesong Industrial Complex
Second KaesongKim Ki-moon, chairman of the Korea Federation of Small and Medium Business, says Haeju or Nampo would be more appropriate places for another industrial park in North Korea on February 4....
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Hyundai Announces Next Avante Tuning, Coupe
New HyundaisSEOUL, Feb. 5 (Yonhap) -- Hyundai Motor Co., South Korea's largest carmaker on Wednesday unveiled its new Avante tuning compact sedan and two-door Avante Coupe.The two models are updates of...
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President Park Pushes Domestic Tourism Boost
Korean TourismSEOUL, Feb. 3 (Yonhap) -- President Park Geun-hye on Monday called for a package of measures to energize domestic tourism, which could help boost domestic demand and create more jobs.Park...
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Lenovo, LG Compete for 3rd Spot in Global Smartphone Market
Top 3 Smartphone MakersLenovo, which recently took over Motorola, is expected to give rise to a significant change in the global smartphone industry that has been dominated by Samsung Electronics and...
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Net Profits of Major Financial Holding Companies Declined 31% in 2013
Korean Financial Holding CompaniesIt has been estimated that the net profits of the four major financial holding companies in Korea dropped by at least 30 percent last year. This is because of the...
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Energy Sector SOEs Cut Investment in Overseas Resources Development Projects
Slower Overseas Resource DevelopmentState-owned enterprises (SOEs) in the energy sector will scale down their natural resources development projects abroad so as to respond to the government’s call for...
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Korea to Build Entertainment, Cultural Hub at Yeongjong Island
Dream IslandThe Ministry of Oceans and Fisheries (MOF) announced the Dream Island development project plan on February 5 during a Ministry of Economy meeting.Dream Island will consist of a water park,...
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Tapering Must be Monitored Carefully
Quantitative EasingHyeon Oh-Seok, minister of Strategy and Finance, expressed concerns that the tapering of the US Quantitative Easing, or QE, is not only having a serious impact in already...
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Korean Economy Likely to Differ from Other Emerging Countries
Korea’s FundamentalsThe Korea Composite Stock Price Index (KOSPI) closed at 1,891.32 points on February 5 to earn 0.24%, but the G2 shock is still going on. Under the circumstances, the key is how long...
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ETRI Secures 67 International Standard Patents in 2013
Standardization EffortsKorea’s Electronics and Telecommunication Research Institute (ETRI) announced on February 5 that it achieved a historic record result in obtaining certifications of standards...
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Internet of Things Expected to Outperform PCs, Smartphones in Korea
Domination in IOTWith the expansion of the Internet of Things (IoT) market, the sector is likely to overtake PCs and smartphones to become the biggest Internet platform next year. As a result, major...
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WooriBank to Be Sold to Multiple Investors
Sale of WooriBankThe Korean government, which has owned WooriBank for 14 years, is selling its shares to multiple major shareholders. Specifically, 30 percent to 40 percent of the shares are planned to...
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Why Did SK Hynix Recruit Former Samsung Executives?
New Management LineupSK Hynix is going to push ahead with its plan to revamp personnel management, its organizational structure, and its business areas to break from its heavy reliance on the memory...
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Doosan to Construct Coal-fired Power Plant in Vietnam
Doosan Heavy IndustriesDoosan Heavy Industries & Construction (CEO Park Ji-won) received an order to build a coal-fired power plant in Vietnam, a project estimated at 1.6 trillion won (US$1.5...
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