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Toyota Pays Huge Fine in US for Sudden Unintended Acceleration
Huge Fine for Japanese CarmakerThe US Department of Justice announced on March 19 (local time) that it agreed with Toyota to close the four year-long sudden unintended acceleration (SUA) investigation...
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World’s First SDP System-based Nanoscale Fabrication Tech Developed by Korean...
Space Divided Plasma TechJusung Engineering announced on March 20 that it signed a Space Divided Plasma (SDP) system equipment supply contract with SK Hynix. The purpose of this new technology is to...
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CJ E&M Launches “Mwave” for K-pop Fans Worldwide
Hallyu Content PlatformCJ E&M is penetrating overseas markets in earnest with the Mwave, a global Hallyu content platform, in an attempt to create a new growth driver beyond the saturated domestic...
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LG CNS Clinches Transit Card System Deal in Greece
Transit Card System ExportSystem integration (SI) company LG CNS won a contract to create a mass transit card system in Athens, Greece, to become the first Korean SI firm penetrating the European...
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SM Entertainment under Probe; Did They Surf Too Far on the Back of Hallyu?
Tax InvestigationThe leading Entertainment company SM Entertainment (SM) is under probe by the Korean Tax Office. Other big entertainment companies are on alert as well, as the tax office launched its...
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2,200 “Regulations like Cancer Lumps” to be Excised
Regulation ArmageddonThe Korean government will abolish 2,200 economic regulations, amounting to 20 percent of the total, by 2016. It will also implement a British style regulation ceiling system,...
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Korea’s Gold Trading Platform Launched in KRX
Gold TradingThe Korea Exchange (KRX) announced that it launched a gold trading platform on March 24, saying that the unregulated market would become more transparent.Last year, Korea’s financial...
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Korea Starts to Purchase F-35As
FA-35 First BuyThe Defense Acquisition Program Administration (DAPA) announced on March 24 that it will purchase 40 F-35As on a foreign military sales (FMS) basis for the Fighter eXperimental program....
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Korea-China FTA Likely to be Signed within This Year
Korea-China SummitPresident Park Geun-hye, who visited the Netherlands for the Nuclear Security Summit, met with Chinese President Xi Jinping to talk over the conclusion of the Korea-China FTA within...
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Samsung Electronics to Build First R&D Center in Africa
R&D in AfricaSamsung Electronics is going to boost investment in Africa. It is also planning to expand the scope of locally-made products, and to establish an R&D center. According to industry...
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Korea Occupies Runner-up Position in Global Semiconductor Market
Outperforming JapanAccording to the findings of market research firm IHS Technology announced by the Ministry of Trade, Industry and Energy on March 24, Korea snatched second place from Japan in the...
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Galaxy Tab Pro Model Named Best Tablet PC, Beating iPad Air
Tablet CompetitionSamsung Electronics’ two Galaxy Tab Pro models became the top-ranked tablet models, outshining Apple’s iPad Air and the iPad mini with Retina display, according to a U.S.-based...
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China Mobile Asks for Expansion of 4G Network Support
Possible BenefitsChina Mobile reportedly requested that local smartphone manufactures expand the scope of their 4G network support in line with its 4G adoption. The new policy is likely to impose a big...
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Diplomatic War between Korea and Japan Shifting to United States
Korea-Japan RelationsThe New York Times reported on March 23 (local time) that the United States is becoming a battlefield in the diplomatic war between Korea and Japan, and the former is taking the...
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Rice Market to Lose Tariff Barrier in Nine Months
Tariff on RiceThe Korean government started the discussion of tariffs with the expiration of the tariffs scheduled for the end of this year. Economic experts are saying that this is a measure to...
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“America’s Tapering” Viewed as Short-term Risk, “Company Credit” Long-term...
Top 5 RisksDomestic financial market experts named uncertainty about China and emerging markets and America’s tapering as the two greatest factors threatening the Korean financial system this year. In...
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Upgraded Call Quality Possible with Fixed IPv6 Addresses
IPv4 to IPv6Starting in the latter half of this year, LTE smartphones and high-speed Internet services that support the next-gen Internet Protocol version 6 (IPv6) will be rolled out. The...
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Amazon Expands Operations in Korea
Amazon’s MoveIndustry analysts are saying that Amazon seems to be preparing for its business expansion in the country, because the company has recently posted marketing and public relations jobs for...
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Samsung Electronics kicks off Semiconductor Factory in Xian in May
Flash FactorySamsung Electronics will launch its semiconductor factory in Xian, China, in May, in hopes to quickly respond to soaring demand for NAND flash memory in China.Kim Ki-nam, President of...
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Incheon Caters to Asian Trends with Help from Incheon Medical Tourism Foundation
Medical Airport HubHallyu is going viral worldwide, and Korean medical technology is also gaining popularity overseas. More and more foreigners from all over the world are flocking to Korea to take...
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