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Snowden Scandal Leading to Seismic Change in Global IT Industry
Snowden ScandalEdward Snowden, who exposed the indiscriminate information gathering by the National Security Agency (NSA) of the United States, employed a cheap and easily-available program to get...
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Hyundai’s Move to Sell LNG Business Unit Raises Concerns in the Industry
More Loss Than GainThere is growing concern about Hyundai Group’s move to sell its LNG business unit, the main business of Hyundai Merchant Marine (HMM). Industry analysts are saying that the sale of...
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Import Regulations against Korean-made Products on the Rise
Trade ProtectionismThe number of new import regulations against products exported from Korea increased to 34 last year. Countermeasures should be prepared to minimize the damage. The Institute for...
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Overseas Output by Korean Carmakers Hits Record High in January
Overseas Car ProductionSEOUL, Feb. 10 (Yonhap) – Overseas production by South Korean carmakers reached record high numbers in January, with output expected to grow further in the future, industry data...
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Investors Posing as Foreign Disturbing IPO Market
Fake Foreign InvestorsKorea’s IPO market is having headaches due to investors disguising themselves as foreigners. The disguised investors increased in number all of a sudden in the past couple of...
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Samsung Employees Cash in Stocks, Earn Handsome Profits
Reaping RewardsFourteen executive-level directors of Samsung Group have exercised stock options, each of them reaping before tax earnings exceeding 500 million won, or US$466,400, according to...
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Global Service Providers Banned from Korea’s Public Procurement
Correction of Reverse DiscriminationGlobal food service companies such as Aramark will not be able to provide their services to the public sector in the country. Office Depot, a global provider of...
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LG, Samsung Rank First, Second in LTE Standard Essential Patents
LTE PatentsTechIPm, a consulting company specializing in patents, reported on Feb. 10 that LG Electronics’ patent applications related to LTE were the largest, accounting for 23% of the total...
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Three Year National Economic Reform Plan to Cover Next 30 Years
Economic Reform PlanDeputy Prime Minister Hyun Oh-seok is grappling with the new three-year plan for national economic reform.Scheduled to be announced late this month, the plan carries significant...
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Samsung Agonizing over Adoption of AP for Its Galaxy S5
Galaxy S5 APThe industry is paying attention to whether or not Samsung will select its Exynos AP to be used in its new flagship product.According to sources in the semiconductor and mobile industries...
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SK Telecom in Dilemma for 50% Market Share
Awkward SituationSecurities market experts are showing mixed opinions about SK Telecom’s will to maintain its domestic market share at over 50%. According to them, the company’s profitability can...
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Personal Information Theft Subject to 10 Years’ Jail or 500 Million Won Fine
Strengthened Personal Information ProtectionThe Financial Supervisory Service (FSS), the Financial Services Commission (FSC), and the ruling Saenuri Party are planning to pass amendments to the...
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SK E&C Inks MOU to Build Natural Gas Liquefaction Plant in US
1st US GLP ProjectSEOUL, Feb. 11 (Yonhap) -- SK Engineering and Construction Co. (SK E&C) said Tuesday it reached a tentative deal to build a natural gas liquefaction plant in the United States,...
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Seoul Shares Trade Higher on Tech Gains
Tech SharesSEOUL, Feb. 11 (Yonhap) – South Korea stocks traded slightly higher late Tuesday morning as foreign investors scooped up tech shares.The benchmark Korea Composite Stock Price Index (KOSPI)...
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Top Korean Entertainment Firms Join Big Biz Federation FKI
Opening DoorsSEOUL, Feb. 11 (Yonhap) – South Korea’s two largest entertainment companies, which include performers such as Big Bang, Girls’ Generation, and Psy, have become members of the country’s...
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Public Restructuring Should be Pursued at All Cost, Says MOTIE
Debt RestructuringThe Ministry of Trade, Industry and Energy’s Second Vice Minister in Command Han Jin-Hyun said that public companies must make tough decisions and unload any assets that are not part...
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Samsung Chairman Lee Tops Chaebol Owner Dividend Income with Over 100 Billion...
Korean TycoonsThe combined amount of dividends for Korean business tycoons was tallied at 245 billion won (US$228 million), compared with 240 billion won (US$225 million) in 2013, according to the data...
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Disgraced Scientist’s Stem Cell Tech Receives US Patent
Stem Cell TechFeb. 11 (Yonhap) – Disgraced cloning scientist Hwang Woo-suk’s controversial NT-1 “embryonic stem cell line” officially received a United States patent on Tuesday, in a development that...
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Door Opens for Normalization of Hanhwa with Suspended Prison Term Given to Kim
Hanwha Group ChairmanA Seoul appellate court convicted Hanwha Group Chairman Kim Seung-youn for embezzlement and gave him a suspended prison sentence on February 11. In a retrial held four months after...
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Samsung Occupying More than Twice Apple in Smartphone Market Share
Market DominatorAccording to research firm Strategy Analytics on Feb. 11, Samsung’s share of the worldwide smartphone market was 30.4 percent in 2012, more than a two-fold increase from the previous...
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