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Will ‘Mach Management’ Accelerate Now that Tycoon Back in Korea?
Samsung Group ChairmanSamsung Group Chairman Lee Kun-hee returned from 96 days abroad on April 17.He returned to Korea late last year to attend the group’s New Year’s ceremony and presidential meeting,...
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Car Loan Companies of German Automakers Very Successful in 2013
2 Birds 1 StoneThe specialized credit financial businesses of German automakers in Korea enjoyed explosive growth last year, thanks to the surge in sales of their parent carmakers such as BMW, Audi,...
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Government to Expand Spending to 170 Trillion Won
Monetary MuscleMinister of Strategy and Finance Hyun Oh-seok announced that the government decided to expand its spending for the first half of the year at an economic ministerial meeting at the...
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73% of Local Companies Want Salary Peak System
Poll on Wage SystemAhead of the mandatory retirement age law at 60 that will go into effect next year, seven out of ten companies in South Korea want to implement a salary peak system. According to a...
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Hyundai Steel Beating Recession with Overseas Orders
Overseas PayoutsHyundai Steel, after its belated entry into the steel plate market, is getting a host of orders from its overseas projects.The steel company announced on April 17 that the company is...
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LS Group Prepped for Giant Leap in Electronics, Materials, and Energy
One Small StepLS Group hosted “LS Partnership Day” on April 15 (local time) to seek cooperation for future growth with local investment companies, entrepreneurs, and researchers in Silicon Valley,...
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Samsung Electronics Expected to Adopt Two-track Strategy in Wearable Device...
Two-track StrategyKeen attention is paid to wearable device manufacturers’ business strategies with new products coming out regularly. Samsung Electronics is maintaining a closed strategy, that is, to...
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Apps Ascending in the House of Mobile
Internet Usage RevolutionThe Internet business paradigm is fast changing in light of a rapid shift in the Internet’s user environment. As people use PCs less often to access the Internet and mobile...
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Labor Hour Reductions
To Our ReadersAnother storm is coming to the business community, this time in the form of a weekly working hour reduction from 68 to 52. Along with the ordinary wage issue that heated up throughout...
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Working Hour Issue, Ordinary Wage Dispute Are Twin Time Bombs
Complicating & Worsening Labor IssuesThe personnel expenses issue is about to explode across industries. The revised Labor Standards Act for shorter working hours will pass the National Assembly...
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Complimentary Relationship Gaining Importance
Bangladesh-Korea RelationsThe relationship between South Korea and Bangladesh has been broadened and getting deeper especially in labor cooperation. They both have a great labor pool, and are...
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Providing Forest Welfare While Sharing Experience with Developing Nations
Evangelist of HappinessAs the new concept of forest welfare is emerging, the Korea Forest Service (KFS) is ironing out various programs for the development of leisure culture and welfare services for...
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KakaoTalk Offers Rare Sight of True Innovation
Vanguard of Korea's New Creative GenerationIt may be hard to believe that the country with greater than 100 percent mobile subscriber penetration was late to the smartphone scene, but South Korea...
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A Corporate Culture that Encourages Debate
Interviewing InnovationSirgoo Lee is co-CEO of Kakao Corporation, alongside JB Lee. He has previously been the CEO of NHN USA, and is a lawyer by trade. BusinessKorea spoke with him about the history...
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Better than Angry Birds: Breakout Gingerbread Man Runs Off with All the Money
Kakao Game Success StoryHalf of all Korean smartphone users have played the game Cookie Run, which grossed over 62 billion won (US$58.9 million) 9 months after it debuted in April 2013. In the game, a...
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Bringing Characters to Life in KakaoTalk’s Ecosystem
Kakao’s New OpportunitiesEven though KakaoTalk owes much of its success to its affiliated game companies, they also have created an ecosystem in which many other companies, designers, and artists can...
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Opening New Chapter with New Leader
Samhwa PaintsHuh Sung was inaugurated as new Chief Operating Officer of Samhwa Paints Industrial in March.As the new COO, Huh swears to expand into the global market as a strong business engine, going...
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Could Galaxy S5 Let Samsung Retake the Lead in Chinese LTE Market?
China’s Galaxy S5 LaunchSamsung Electronics launched an official event to introduce the Galaxy S5 to China, which is the largest mobile telecommunications market. It is attracting attention whether the...
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KT to Shed 8,320 Employees via Voluntary Retirement Program
KT RestructuringKT will slash 8,000 jobs through a voluntary retirement program. The number is the highest ever done by a local company, which accounts for about 25 percent of a total of 32,000 jobs....
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Renault Samsung Motors to Recall 161,700 SM5s Owing to Problems with Connector
Car RecallRenault Samsung Motors has decided to recall its SM5 mid-size sedan owing to problems with the cable connector fin of the model.According to the Ministry of Land, Infrastructure and Transport...
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