Clik here to view.
Tycoons’ Annual Salaries Revealed
High-flying Compensation11 Earn Over 5 Billion Won, Some Over 10 Billion WonThe annual salaries of the registered CEOs of domestic listed companies were revealed simultaneously on March 31, to conform...
View ArticleClik here to view.
Line Play Reveals Group Chat Virtual Room Feature “Square”
Group ChattingLine’s official avatar service Line Play unveiled its “Square” feature on April 1, which allows as much as 20 users to freely converse at the same time. Previously, only one-to-one...
View ArticleClik here to view.
Doosan to Create Remote Controlled Power Plants
Remote PowerDoosan Heavy Industries & Construction is seeking to expand its construction business using information and communication technology (ICT), going beyond just building power plants. The...
View ArticleClik here to view.
Korea’s Medical Administrative System to be Exported to Yemen
Export of e-GovernmentThe Korean e-Government Export Promotion Association (KeEPA) announced on March 31 that the company and the General Yemeni Association for Social Health Insurance (GASHI) signed a...
View ArticleClik here to view.
Nexon, NCSoft Release New Games to Target Mobile Market
Nexon-NCSoft AllianceNexon and NCSoft launched a new offensive to increase its share of the mobile games market with blockbuster games using their core online game brands. With the alliance of Tencent...
View ArticleClik here to view.
Hanjin Heavy Industries Wins 3 New Orders for Bulk Ships
Hajin’s RevivalHanjin Heavy Industries announced on April 1 that it obtained three 180,000-ton bulk ship orders from multiple European shippers. The combined contact amount is approximately US$200...
View ArticleClik here to view.
Korean Employees Work Fewer Years, More Hours than OECD Average
Employment InstabilityLawmaker Hong Jong-hak of the New Politics Alliance for Democracy analyzed the labor market data of the OECD member countries for 2012, submitted by the Ministry of Strategy &...
View ArticleClik here to view.
Korea, Mexico Establish New Council for Comprehensive Economic Cooperation
Korea-Mexico CooperationKorea and Mexico are organizing an economic cooperation council for a better partnership. The financial ministers of both countries discussed mutual cooperation in the framework...
View ArticleClik here to view.
Korean Core Energy Storage System Tech to be Transferred to U.S. Company
Energy Storage SystemMechanical engineering Professor Ha Seong-kyu at the ERICA Campus of Hanyang University announced on March 31 that his research team signed a contract with Beacon Power to transfer...
View ArticleClik here to view.
Hyundai Motor Builds Large-scale R&D Center in China
R&D in ChinaHyundai Motor Company is building a large-scale R&D center, comparable to the Namyang Research Institute, in China at a total investment of 200 billion won. The completion of the...
View ArticleClik here to view.
Korea Became World’s #2 “Advanced Persistent Threat” Target Last Year
Malware AttacksCybersecurity firm FireEye released its 2013 Advanced Threat Report (ATR) on April 2, which provides a high-level overview of computer network attacks, including 39,504 cyber security...
View ArticleClik here to view.
Samsung General Chemicals, Samsung Petrochemical Merge
Samsung ChemicalsSamsung General Chemicals and Samsung Petrochemical voted for a merger at the board of directors meeting on April 2. The merger ratio between the two is 1:2.1441, and the former is to...
View ArticleClik here to view.
Korea National Oil Corporation Produces Crude Oil at Hawler Block in Iraq
Oil in IraqThe Korea National Oil Corporation (KNOC) succeeded in probing the Hawler Block in Iraq and has started the production of 40,000 barrels of crude oil a day. Officially, the Hawler Block’s...
View ArticleClik here to view.
Fair Trade Commission Imposes Cross Shareholding Restriction on 63 Business...
Cross Shareholding RestrictionThe number of the subsidiaries of major business groups subject to the cross shareholding restriction dropped for two consecutive years due to the collapse of the STX,...
View ArticleClik here to view.
30% of Korean People Think of Those with One Billion Won as Rich
Rich in KoreaAbout 30 percent of Koreans think of 1 billion won (US$945,224) as the minimum amount of money for them to be considered rich.Gallup Korea conducted a survey, between March 24 and 27, on...
View ArticleClik here to view.
Samsung C&T Wins 800 Billion Won Mersey Gateway Bridge Project from the UK
UK Bridge ConstructionSamsung C&T successfully penetrated the UK construction market by obtaining a construction order worth 800 billion won (US$759 million). The Korean builder announced on April...
View ArticleClik here to view.
Korean Team Develops New Tech to Produce Vinylidene Fluoride
Vinylidene FluorideThe Korea Research Institute of Chemical Technology announced on April 2 that a Korean research team led by Dr. Park In-joon and Dr. Lee Soo-bok succeeded in developing a new...
View ArticleClik here to view.
Shadow Banking Exceeds 1.5 Quadrillion Won in Size
Korean Shadow BankingThe size of shadow banking has reached 1.561 quadrillion won (US$1.481 trillion) in Korea. Its ratio to the national GDP is the seventh-highest among the 26 countries where the...
View ArticleClik here to view.
Korea Trying to Become Hub of Yuan to Boost Financial Industry
Yuan Hub The Financial Services Commission (FSC) has set out to turn Korea into a hub of the Chinese currency, the yuan. “The conversion may be a tough job, but it will bring Korea’s financial industry...
View ArticleClik here to view.
Hyundai Research Institute Proposes European-style Solutions to Low Fertility...
Fertility RateThe Hyundai Research Institute published a report on April 3 to suggest examples of European countries as a way of addressing the low birth rate of Korea. In the report, the institute...
View Article