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LG Life Sciences’ New 5-in-1 Vaccine Approved by WHO
Prequalification Approval LG Life Sciences, the biopharmaceuticals unit of LG Group, announced on Feb. 11 that its self-developed 5-in-1 multifunctional vaccine Eupenta has received the World Health...
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SK Telecom Joins Hands with Ericsson to Build 5G Network Test Bed
5G InitiativeKorea’s leading mobile network operator SK Telecom announced on Feb. 11 that it has signed a memorandum of understanding with Finnish network equipment firm Nokia to build infrastructure...
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Doosan Wins Thermal Power Plant Construction Deal in India
Indian Thermal PowerDoosan Heavy Industries & Construction Co., South Korea’s leading power equipment manufacturer, announced on Feb. 10 that Doosan Power Systems India Private Ltd. (DPSI), its...
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Daewoo E&C Wins US$480 Million Deal to Build Bridge in India
Bridge Construction in IndiaDaewoo Engineering & Construction (Daewoo E&C), a major Korean builder, announced on Feb. 11 that it has won a project worth US$480 million (577.2 billion won) to...
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Hyundai-Kia Motors Retains 5th Spot in Global Sales in 2015
Global Top 5Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. retained their No. 5 status in global sales last year. Despite the global economic recession, the two companies saw a slight...
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Xiaomi Signs Exclusive Sales Agreement with CPS Global in Korea
Xiaomi PopularityXiaomi, which has become popular among Korean consumers as “the mistake of the continent,” has finally chosen the exclusive distributor in Korea.The company announced on Feb. 11 that...
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Korea Recorded Highest R&D Investment-to-GDP Ratio in OECD
R&D RankingsIt has been found that Korea recorded the highest R&D investment-to-GDP ratio in the OECD but the absolute amount of its R&D investment was about one-fifth of China’s.The OECD...
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Korean Manufacturers Witnessing More and More Idle Production Facilities
74% Operation RatioIt has been found that Korean manufacturing companies’ rate of operation reached a record low since the IMF bailout in 1998 due to the sluggish exports and domestic consumption.Under...
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Complicated Legal Matters Will Follow on Heels of Gaeseong Industrial Complex...
Aftermath of the Shutdown The Gaeseong Industrial Complex’s annual production stood at US469.9 million in 2014. Salaries for North Korean laborers reached US$8.84 million, accounting for 18.8 percent...
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North Gyeongsang Province Selects China Travel Agencies to Attract Chinese...
Specialized Travel AgenciesNorth Gyeongsang Province has selected 10 travel agencies, which will develop specialized products. In particular, the province is making effort to attract galloping Chinese...
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POSCO to Build Large-scale Lithium Production Plant in Argentina
Lithium ProductionPOSCO, Korea's largest steel supplier, will begin the commercialization of lithium in earnest. The company said on Feb. 15 that it held a groundbreaking ceremony of the commercial...
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Hana Tour Partially Opens Duty-free Shop in Insa-dong
Duty-free Shop for SME ProductsHana Tour, the nation’s No. 1 travel agency and newest duty-free operator, has partially opened its first outlet, SM Duty Free, in Seoul in Insa-dong on Feb. 15,...
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Korea’s ICT Exports Fell for the Fourth Consecutive Month
Declining ICT ExportThe Ministry of Science, ICT & Future Planning and the Ministry of Trade, Industry & Energy announced on February 15 that Korea’s information and communications technology...
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FSS: “Korean Banks are Maintaining Stability in Foreign Currency Liquidity,...
Financial StabilityThe Financial Supervisory Service (FSS) mentioned on February 15 that Korean banks’ foreign currency liquidity and borrowing conditions are still stable in spite of the North Korea...
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Samsung, LG Electronics Struggles in Chinese TV Market
Losing Competitiveness Samsung Electronics and LG Electronics are struggling in China, which has emerged as the largest TV market in the world.According to market research firm IHS on Feb. 15, Samsung...
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Korean Tycoons to Attend Boao Forum in China Next Month
Attendance ImplicationsSamsung Electronics vice chairman Lee Jae-yong and SK chairman Choi Tae-won participate in this year’s Boao Forum. Much attention is being paid to how their participation will...
View ArticleSamsung, LG, Hyundai Motor to Invest 8 Trillion won in New Energy Biz
New Energy BusinessesEight business groups including the Hyundai Automotive Group and Samsung Group will invest a total of 8,179.4 billion won in the new energy industry for two years until next year....
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REC Cut Back on Polysilicon Production
Benefit from Anti-dumpingREC, one of the three largest U.S. polysilicon manufacturers, halts production for five months until June this year in its manufacturing facilities located in the state of...
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Samsung Subsidiaries Plans to Appoint CEOs, BOD Chairpersons Seperately
Personnel ReshuffleSamsung Group subsidiaries are pushing forward with a plan to appoint their CEOs and the chairpersons of their boards of directors (BODs) separately. The plan aims to accomplish a...
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LG Innotek Develops World’s Best Super-slim Heartbeat Sensor Module
Leading Wearable IoT Market LG Innotek, a mobile device component affiliate of LG Group, said on Feb. 16 that it has successfully developed the world’s best super-slim heartbeat sensor module....
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