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Samsung Electronics Busy Downsizing
Samsung SmallerSamsung Electronics CEO and Vice Chairman Kwon Oh-hyun said on Nov. 2 that the growth of the IT industry is reaching a plateau while an increasing number of new competitors are coming up...
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China’s New Normal Policy Affecting Korean Exporters
The New NormalThe Korea Economic Research Institute said on Nov. 3 that Korea’s exports to China have been on the decline since the Chinese government launched the New Normal policy last year.The trade...
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Individual Consumption Tax Cut to be Repealed this Month
Taxing the RichThe Ministry of Strategy & Finance announced on Nov. 3 that it will rescind the individual consumption tax cut implemented in Aug. this year, as the benefit of the policy went to...
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Deflationary Concerns Spreading in Korea
Near Zero InflationStatistics Korea announced on Nov. 3 that the consumer price index rose by 0.9 percent from a year ago last month. The rate of increase is the highest since November last year, when...
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Plate-type Nuclear Fuel Developed by Korea Undergoing Testing
Plate FuelThe plate-type uranium-molybdenum (U-Mo) nuclear fuel that a Korean team recently developed is going through a performance test in an advanced research reactor in the United States. After the...
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Memory Chip Price on Rapid Decline
DRAM DropAccording to DRAMeXchange, the average contract price of DDR3 4 GB 512 MBx8 1333/1600 MHz memory fell 11.0 percent to US$1.78 between Oct. 14 and Oct. 30, and more than halved from US$3.78 in...
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Seorak Kensington Stars Hotel to launch Last Autumn Season Package
Seorak's Last AutumnE-Land-run Seorak Kensington Stars Hotel announced on Nov. 3 that the Group will launch a seasonal package for late autumn in November.Titled “Last Autumn,” the package has two...
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Hanwha Q Cells to Build Giant Solar Power Station in Texas
Solar TexasHanwha Q Cells USA announced on Nov. 2 that the company will build a solar power station with a 170 MW production capacity on land of about 4.8 million square meters in Texas. 170 MW is the...
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Volume of M&As between Korean Companies Reaches Record High
Mergers and More MergersM&As made between Korean companies until September of this year reached the largest-ever volume. Analysis says that M&As were made one after another as the European...
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Less Expensive Smart Phones Gaining Popularity in Korea
Affordable OptionThe focus of the mobile market of Korea is shifting from high-end smart phones priced at around 1 million won (US$880) to mid- to low-priced ones with advanced features.This can be...
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Fair Trade Commission Investigating Siemens Korea
Investigation OngoingThe Fair Trade Commission (FTC) launched an investigation of Siemens Korea’s alleged unfair business practices in the field of the medical equipment business.Specifically, it is...
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Hyundai Motor Group Fared Well in US Last Month
Market SuccessHyundai Motor Company and Kia Motors sold a total of 110,049 cars in the United States last month to record a growth of 16.1 percent from a year ago. The sales volume is the Hyundai Motor...
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Dongkuk Steel Postpones Steel Mill Operation in Brazil
Delayed ReactionDongkuk Steel’s blast furnace operation in its CSP Steel Mill in Brazil has been put off until the second quarter of next year.According to the company’s announcement on Nov. 4, the...
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Gap between Wages of Permanent and Temporary Workers Widening in Korea
Permanently TemporaryStatistics Korea announced on Nov. 4 that regular workers in Korea received an average monthly salary of 2.696 million won (US$2,370) between June and August this year, when the...
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Korea’s Forex Reserves Increased for Two Months in a Row
Foreign MoniesKorea’s foreign exchange reserves increased for the second consecutive month. The Bank of Korea announced on Nov. 4 that the amount increased by US$1.49 billion from US$368.11 billion to...
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Global TV Market Shrinking
Relic TechMarket research firm IHS announced on Nov. 4 that the global TV market is estimated to record US$97.1 billion in sales this year, US$2.4 billion less than a year ago. The amount had reached...
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Entiq Invests in Korean Fintech Startups
Financial TechnologyEntiq Korea raises its first investment fund in the third quarter of next year. Investors from various countries such as the United States, Britain and Israel are expected to...
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‘Overseas Direct Purchase Contributes to Consumer Prices’
Overseas PurchasingOverseas direct purchases for buying products directly from sellers abroad and not via importers is effective in reducing consumer prices.On Nov. 4, Researcher Choi Chang-bok at the...
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Korea’s Per Capita GDP to Reach US$37,000 in 2020, Nearing Japan’s
Reaching National GoalKorea’s per capita gross domestic product (GDP) is expected to reach nearly US$37,000 (42.12 million won) within the next five years in 2020, catching up with Japan.According to...
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Samsung Electronics Pays Compensation to Former Employees at Semiconductor...
Leukemia CompensationRegarding the occupational disease issues of Samsung Electronics’ semiconductor work sites, the company has paid compensation to nearly 50 former employees who retired after...
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