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Ratio of Yuan-based Export Settlements by Korea Hits New High
Chinese MoneyThe Bank of Korea announced on October 28 that Korea’s export settlements based on the U.S. dollar and the Japanese yen each decreased by 0.1 percentage point and 0.2 percentage points in...
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EU Adopts New Diesel Emission Standards
New StandardsThe EU adopted the RDE-LDV in order to tighten the exhaust emission standards applied to diesel vehicles. According to the new rule, which is likely to be imitated by Korea, the NOx...
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Korean Smartphone Manufacturers’ Profitability on the Decline
No Money for PhonesOn Oct. 29, the IT& Mobile Division of Samsung Electronics announced that it recorded 26.61 trillion won in sales and 2.4 trillion won in operating profits in the third quarter....
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DS Division of Samsung Electronics Sets New Sales Record
Some MoneyThe Device Solutions (DS) Division of Samsung Electronics, which is in charge of semiconductor and display businesses, set new business records in the third quarter of this year while the...
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Export-Import Bank of Korea Provides EDCF for Jordan
Korea EximbankThe Export-Import Bank of Korea announced on Oct. 29 that it provides an Economic Development Cooperation Fund (EDCF) of US$12.8 million for Jordan with regard to the country’s project...
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KEPCO to Build Smart Grid Systems in Dubai
Pilot ProjectOn Oct. 28 (local time), the Korea Electric Power Corporation (KEPCO) and the Dubai Electricity & Water Authority (DEWA) signed an agreement worth approximately US$3 million in Dubai...
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Three Northeast Asian Leaders to Meet Soon
To Our ReadersA summit meeting of Korea, China and Japan is scheduled to be held on Nov. 1 for the first time since May 2012. The hottest issue of the meeting is likely to be history, as in the summit...
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Bukwang Pharm Successfully Hosts 2nd TVM Capital Asia Conference
Capital ConferenceOn Oct. 29, Bukwang Pharm announced that it successfully hosted the 2nd TVM Capital Asia Conference on the outlook of the Korean pharmaceutical market, growth strategies and...
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Roles of KDB, IBK to be Adjusted
Changing TimesThe Financial Services Commission (FSC) announced on Nov. 1 that it has overhauled the roles of the Korea Development Bank (KDB) and the Industrial Bank of Korea (IBK) in order to prevent...
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Decline in Exports from Korea Reaches 6-year High
Staying HomeThe Ministry of Trade, Industry & Energy announced on Nov. 1 that Korea’s total exports decreased 15.8 percent from a year ago to US$43.5 billion last month. The estimated decrement is...
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Korea’s Big 3 Shipbuilders Have Order Backlog of 70 Offshore Plant Projects
Big 3 ProblemsSouth Korea’s top three shipbuilders posted their worst-ever combined operating loss in the third quarter this year: over 7 trillion won (US$6.15 billion). Interested parties are...
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German Cars Still Very Popular in Korea despite Volkswagen Emissions Scandal
Small RipplesThe recent Volkswagen scandal has barely affected car sales in Korea. In the third quarter of this year, the imports of mid-size and large diesel vehicles from Germany, the type that came...
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Lotte Completes Mega Chemical Deal with Samsung
Big ChemThe Lotte Group completed the vertical integration of its petrochemical business by striking a big deal to buy all of Samsung’s chemical affiliates on Oct. 30.The Lotte Group signed a deal to...
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Artificial Electric Skin That Can Sense Sound
Synthetic Sensory OverloadArtificial electronic skin has been developed by a team of Korean researchers. The skin can detect the surface’s texture, temperature, pressure, and even its sound by copying...
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KDB Planning to Sell GM Korea Shares
Unloading AssetsRumors about the shutdown of GM Korea are circulating again, with the Korea Development Bank (KDB) announcing that it would dispose of its shares of the five non-financial companies...
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Hanwha Life Insurance Donates Health Center, Health Insurance in Vietnam
Giving BackHanwha Life Insurance Co. has built and donated a public health center to an underdeveloped region in Vietnam, and health insurance cards to underprivileged people.The company set up the...
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Samyang Biopharm’s Hemostat Goes Global
HemostatSamyang Biopharm Corp. announced on Nov. 2 that it has succeeded in commercializing the SurgiGuard, an absorbable hemostat that includes oxidized regenerated cellulose as its main ingredient.It...
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KDB to Implement Black Sale of KAI Early Next Year
Sensitive SalesThe Korea Development Bank (KDB) will initiate black sales of Korea Aerospace Industries (KAI) among non-financial affiliates that the KDB will sell off within three years. Even though...
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China Sets Heart on SSD Market
Solid State ChinaIt is being said that China’s promotion of the memory semiconductor industry is beginning with its focus on solid state drives, or SSDs, one of the fastest items in the semiconductor...
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Gear S2 Aims to Steal Show from Apple Watch
According to Strategy Analytics (SA) on Nov. 3, Apple sold 450 units of the Apple Watch in the world smartphone market, ranking first with a market share of 73.8 percent in the third quarter of this...
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