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KEPCO Wins 68 Billion Won Power Grid Deal in Dominican Republic
Dominican PowerThe state-run Korea Electric Power Corp. (KEPCO) has won a US$60 million (68 billion won) contract to build a nationwide power grid in the Dominican Republic, the largest power line...
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World’s Largest Cloud Service Provider AWS to Open New Data Centers in Korea...
Amazon Web ServicesAmazon Web Services (AWS), the world’s largest cloud computing service provider, will open a new data center in Korea early next year. With 11 AWS regions currently present...
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Samsung Pay to Open Phone-to-Phone Payment Era
Transfer Money between PhonesSamsung Pay, which uses both near field communication (NFC) and magnetic secure transmission (MST) to transmit payment information, will be more widely used in the future....
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Endless Nightmares in Korea’s Shipbuilding Industry
Shipping NightmaresKorea’s shipbuilding companies, which suffered from massive losses due to the suspension or cancelation of offshore plant projects and refusal of delivery from ship owners, are now...
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Korea Ranks 6th while Japan 4th in Global Exports
Neighborly CompetitionWhile Korea and China are increasing their proportions in the world’s economy, Japan is losing ground in the IT sector, one of its major industries. It is expected that Japan will...
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CJ 4DX to Break 10 Million Annual Record
4DXCJ 4DPLEX (4DX), a five-sense immersive cinematic theater, has set a record of 10 million customers in one year. CJ 4DPLEX, the CGV subsidiary, said on Nov. 5 that for the last 10 months (from...
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China’s Rapid Growth during Slow Growth of Korea, Japan
Dragon GrowingThis year, the World Economic Forum placed Japan sixth and Korea 26th in the national competitiveness standings. But in the national competitiveness standings by the IMD in Switzerland,...
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Hanmi Pharmaceutical Signs Mega Deal to Export New Diabetes Treatment
Sweet TreatmentHanmi Pharmaceutical has signed a contract to export a diabetes treatment technology for 5 trillion won (US$4.4 billion), the highest-ever amount in the history of the Korean...
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Korean Chip Makers Record Highest-ever 83.3% Share in Mobile DRAM Market
New RecordKorean chip makers renewed the highest market share record by breaking through a 93 percent market share in the mobile DRAM market. DRAM Exchange, a semiconductor trading website, said on...
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3-4 Glasses of Soju a Day Lower Stroke Risk
Healthy DrinkingThis may be good news for Korean soju companies and soju lovers. It was found on Nov. 6 that three to four glasses of soju reduce stroke (cerebral infarction) risk. It is first time to...
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Korean Gov't in Pursuit of Growth of 6 New Industries
Searching for GrowthPresident Park Geun-hye presided over this year’s fourth Ministerial Meeting on Regulatory Reform on Nov. 6. There, the Ministry of Science, ICT & Future Planning, the Ministry...
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Korea’s Exports to China Affected by Weak Yen
Three-way GameThe ongoing weak yen is affecting Korea’s exports to China by dropping the prices of products exported from Japan to China.Senior researcher Jo Kyu-rim at the Hyundai Research Institute...
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Mobile Carriers Rushing for Video Content
Visual AgeThe number of LTE subscribers topped 40 million in Korea, where the first LTE service started four years ago.The technology has allowed users to enjoy wireless Internet faster than wired...
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Korea’s Energy-independent Island Model Applied to Amazon
Independent EnergyThe Ministry of Strategy & Finance announced that the Green Climate Fund (GCF) approved of eight new projects on Nov. 6, including a power supply project that the Korean...
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Korean Companies Expected to Pay Out Record Dividends
JackpotsPreferred stocks are drawing the attention of investors, as Korean companies are expected to record the largest dividend payments in history this year.These days, dividend funds, which showed...
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Korea Needs to Focus on Service Rather than Industrial Robots
Robot ChoiceThe Korean government and Korean enterprises need to focus on the development of service robots in order to prepare for the future of the robotics industry.The robotics industry is roughly...
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Domestic Car Sales Volume Increased 18.6% Last Month
Buying from HomeThe Ministry of Trade, Industry & Energy announced on Nov. 8 that a total of 164,507 cars were sold in Korea last month, showing an increase of 18.6 percent from a year ago. The...
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Danish Recipes to Warm Your Heart
Cooking WorkshopThe Embassy of Denmark in Seoul marked the grand finale of its DELICIOUS DENMARK cooking event series on Oct. 31 with two workshops titled “D PASS Danish Cooking Workshop: Danish...
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Korea and Iceland to Cooperate for North Pole Route Development
Northern ExposureSouth Korean President Park Geun-hye and Ólafur Ragnar Grímsson, president of Iceland, held a summit meeting on Nov. 9 and agreed on closer cooperation for the development of a “North...
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India Takes Initiative in Smartphone Market
South Asia SmartphonesWith the world’s smartphone market nearly saturated, the worldwide sales map of smartphones will face a big shift next year. It was forecast that while North and South America and...
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