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Incheon City Plans to Renovate East Harbor
RevitalizationIncheon City plans to revitalize the Jung-gu and Dong-gu areas of Incheon, and has announced on February 4 that it will submit a blueprint for the Marine & Harbor Walking & Tour...
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Samsung Engineering Wins Algerian Gas Field Development Deal Worth US$800...
Algeria Gas ProjectSamsung Engineering won an 850 billion won (US$800 million) contract to develop a gas field in Algeria.The Korean builder unveiled on Feb. 17 that it signed a contract for the...
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Korea’s Export Volume Growth Third Fastest in 2013
Speedy Export GrowthSEOUL, Feb. 18 (Yonhap) – South Korea’s export volume grew at the third-fastest pace among the top 10 exporting countries in 2013, a traders’ report showed Tuesday.According to...
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China’s Xi to Meet Korea’s Parliament Delegation This Week
Parliament Delegation to ChinaBEIJING, Feb. 18 (Yonhap) – A large-scale South Korean parliamentary delegation will visit Beijing this week for talks with Chinese leaders, including President Xi...
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Korea’s Mobile Ad Market Nearly Doubles in 2013
Mobile Ad MarketSEOUL, Feb. 18 (Yonhap) – The local market for mobile advertisement nearly doubled year-on-year in 2013, a government report showed Tuesday, amid the soaring number of smartphone users...
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Will Open Source Operating Systems Threaten Windows’ Stronghold?
Open-source OSAs Google is expediting the performance improvement of its open-source operating system (OS), the related market is likely to grow this year.According to industry sources on Feb. 17,...
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Samsung, LG Betting on Entry-level, Mid-range 3G Smartphones
Return to 3G SmartphonesSamsung and LG Electronics are going to strengthen the lineup of entry-level and mid-range 3G smartphones. On the other hand, their competitors, such as HTC, Nokia (acquired by...
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POSCO Has First Laugh in Litigation against Japan Surrounding Electrical...
Steel Patent DisputeThe Korean Intellectual Property Office (KIPO) handed down an opinion that Nippon Steel & Sumitomo Metal’s grain-oriented electrical steel sheet technology does not constitute a...
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Repair Costs for Imported Cars Imposing Huge Burden after Expiration of Warranty
Import Car Repair CostLast year, more than 130,000 imported cars were sold in Korea exceeding 12 percent of market share. Repair cost problems are coming to the surface under the circumstances. For...
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Former FRB Chairman Paul Volcker Dispells Worries over Tapering by the Fed
Not Bad for KoreaFormer Federal Reserve Chairman Paul Volcker remarked that the Fed’s tapering of its quantitative easing policy is not bad news, because it assumes a recovery of the US economy.He met...
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Korean Workers Show Lowest Productivity in OECD, despite Long Overtime
Work-life BalanceIt has been found that the work-life balance of the Korean people is the lowest level in the OECD. It is in this context that the Korean government launched a new national campaign on...
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Butterfinger Credit Card Firms May Lose up to 100 Billion Won in Revenue
Data LeakersSEOUL, Feb. 20 (Yonhap) -- The three credit card firms hit by recent massive data leaks may lose some 100 billion won (US$93.6 million) in revenues due to a three-month business suspension...
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Over 100 South Koreans Leave for North Korea for Family Reunions
Healing DivideMOUNT KUMGANG, North Korea, Feb. 20 (Yonhap) -- More than 100 South Koreans arrived at North Korea's mountain resort on Thursday to meet with relatives they haven't seen for over six...
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Consortium of Korean Builders Obtains US$6 Billion Oil Refinery Order in Iraq
New Partnership ModelA consortium of four Korean builders won an oil refinery project from Iraq, and thus the prospect of local builders to receive overseas construction orders worth as much as US$70...
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Samsung Electronics Excluded from List of 50 Most Innovative Companies
Innovative CompaniesAccording to industry sources on Feb. 19, Samsung Electronics was not on the 2014 list of the 50 Most Innovative Companies by US-based business magazine Fast Company. Since 2001,...
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HHI Holds Naming Ceremony for World’s First Floating Storage and...
World’s First LNG-FSRUHyundai Heavy Industries (HHI) has completed the world’s first liquefied natural gas floating storage and re-gasification unit (LNG-FSRU). The world’s largest shipbuilder held a...
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Destiny of Debt-ridden Pantech to be Determined Very Soon
Korea’s Third-largest Smartphone MakerPreviously, experts raised the possibility of Pantech’s debt restructuring due to its aggravated financial structure and a lack of liquidity resulting from its...
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Labor Unions of Hyundai Motor Group Refuse to Participate in KCTU’s General...
Independent MoveThe labor union members of Hyundai Motor Company and Kia Motors have refused to participate in the general strike of the Korean Confederation of Trade Unions scheduled for February 25....
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Korea, China, Japan Competing Fiercely in Mobile SNS Platform Market
Mobile SNS BattleKorean, Chinese, and Japanese companies are engaged in heated competition in the mobile social networking service (SNS) market. Alibaba and Rakuten have recently entered the market,...
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Foreign Hardware Companies Trying to Squeeze Up against Oracle with Korean...
Keeping Oracle in CheckForeign hardware manufacturers are beefing up their collaboration with Korean database management solution (DBMS) companies. The idea is to keep Oracle, which is trying to...
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