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International Recruitment Agency Sponsors Seoul Museum of Art
Local PatronageAn international staffing and recruitment agency is giving back to the local community by sponsoring the Seoul Museum of Art, it announced on March 3. It is the first foreign company to...
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Korean Economy in Structural Recession
All Indices Declining The Federation of Korean Industries (FKI) said on March 6 that the current slowdown of the Korean economy is not temporary but structural and persistent.According to the FKI,...
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Court Ruled against Daewoo International in Damage
Damage Suit against Employee Daewoo International, a subsidiary of the POSCO Group, filed a claim for damages against its former employee for tens of billions of won in derivative transaction losses....
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Dong-A ST Signs Agreement with Plan Korea to Sponsor Medicines for Guinea
Overseas CSRDong-A ST announced that it has signed an agreement with Plan Korea, an international relief and development non-governmental organization (NGO), to support medicines to disadvantaged areas...
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Lotte Holdings Votes for Incumbent Lotte Chairman Shin Dong-bin
End to Management Conflict Shareholders of Tokyo-based Lotte Holdings Co., which controls South Korea's fifth-largest conglomerate Lotte Group, voted again in support of Shin Dong-bin, the Lotte...
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Samsung Expands Lead in Global NAND Flash Market with Double Score
Overwhelming LeaderSamsung electronics continued to sit on the throne of the world's NAND flash market in the fourth quarter of 2015, expanding the gap with other smaller rivals around the...
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Caffe Bene Wins 16.5 Billion Won Foreign Investment
Asian Investment to Coffee BrandCaffe Bene, the Korean-based coffee chain, announced that it has won a 16.5 billion won (US$13.67 million) of foreign investment on March 4.The company has secured the...
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Korea’s Foreign Exchange Reserves Fell for Fourth Consecutive Month
FX ReservesThe Bank of Korea announced on March 4 that Korea’s foreign exchange reserves totaled US$365.76 billion in February, US$1.54 billion less than a month ago, to continue to decline for the...
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Korea, U.S. to Work Together More Closely for Cyber Security Enhancement
Cyber Security CooperationThe Ministry of Science, ICT & Future Planning announced on March 6 that vice minister Choi Jae-yu had a meeting with Dr. Reginald Brothers, under secretary of the U.S....
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Hyundai E&C, Hyundai Engineering Land Big Plant Order from Kuwait
US$29.3 Billion Project in KuwaitHyundai Engineering & Construction (Hyundai E&C) and Hyundai Engineering successfully won a plant order amounting to over US$2.9 billion from Kuwait.The two...
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‘Descendants of the Sun’ Gaining Popularity in Korea, China
Premonition of JackpotAccording to Nielsen Korea, KBS TV drama “Descendants of the Sun” recorded a viewer rating of 24.1% in its fourth episode.One of the reasons for the popularity is actor Song...
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Competition among AI Developers Becoming Intense
AI Competition These days, global IT industry leaders such as Google, IBM, Apple, Microsoft and Facebook are striving to further develop artificial intelligence. It is IBM that pioneered the...
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Investment in Foreign Exchange Fluctuation More than Triples Income of...
More Attractive Income Source Last year, Korean branches of foreign banks more than tripled their income from a year before by investing in foreign exchange fluctuation. According to “2015 Business...
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Seoul Notifies Moscow of Suspending Trilateral Project with Pyongyang
Trilateral Project with RussiaSouth Korea has notified Russia it decided to suspend the Rajin-Khasan project among South Korea, North Korea and Russia.The trilateral logistics project aims to bring...
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High-precision GPS Technology Commercialized for Era of Drones, Unmanned...
World’s First CommercializationKorean researchers succeeded in the world’s first commercialization of high-precision GPS technology for next-generation traffic that can be applied to self-driving cars...
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Korea Records Household Debt to GDP Ratio of 86%, Highest among Emerging Nations
Household Debt Ratio to GDPKorea recorded the highest household debt to GDP ratio among emerging nations for 13 straight years. A quarterly Bank of International Settlement (BIS) report revealed on...
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KOTRA Signs MOU with SIMEST to Promote Investment in Korea
Investment PromotionKorea Trade-Investment Promotion Agency (KOTRA) announced that it has signed a memorandum of understanding (MOU) with Italy’s SIMEST at Four Seasons Hotel in downtown of Seoul on...
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Hanmi Pharmaceuticals Initiates Phase 2 Breast Cancer Trial for Poziotinib,...
New Breast Cancer MedicineSpectrum Pharmaceuticals announced on March 8 that the company has initiated the U.S. Phase 2, open-label clinical trial for Poziotinib, its novel pan-HER inhibitor.The study...
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GM Korea Joins Hands with Labor Union to Overcome Current Recession
Labor-Management CooperationIn July last year, GM Korea's labor union, which was in wage negotiations with management, decided to go on a strike after getting 70 percent of aye votes among its members....
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Mahindra Considers Establishing Ssangyong Vehicle Production Plant in China
Ssangyong Plant in China Indian conglomerate Mahindra & Mahindra, the parent company of Ssangyong Motor Co., is pushing ahead with a plan to establish a plant in China to produce Ssangyong...
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