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Moody’s Predict Korea will Become Advanced Economy in 2018
Moody's PredictionsSenior Vice President of Moody’s Tom Byrne predicted that Korea would join the ranks of advanced economies in 2018. According to Moody’s, Korea’s credit rating is AA3 with a stable...
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Samsung Electronics to Release Samsung Z
First Tizen PhoneSamsung Electronics announced on June 2 that it is scheduled to unveil its first smartphone running the Tizen operating system (OS) during the Tizen Developer Conference on June 3. The...
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Samsung Accounting Just for 23% of Global Smart Band Market in Q1
Wearables BusinessAccording to US-based market research firm Canalys on June 1, Samsung Electronics captured 23 percent of the global smart band market in the first quarter of this year, which placed...
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Chinese to Buy K-Pop through Korean Digital Music Download Sites Duty-free
Korea-China FTAThere will soon be a way for Chinese fans to buy K-Pop songs like those of Girls Generation without incurring duties.The Ministry of Trade, Industry and Energy (MOTIE) announced on June...
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Korean Oil Refining Industry to Implement Major Corporate Restructuring
Full-swing RestructuringAccording to industry sources on June 2, GS Caltex decided to conduct a voluntary retirement program as early as this month to shed 20 percent of team managers. It will do so by...
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“Aging Society Dragging Down Annual Growth Rate of Korea by 0.87%”
BOK Conference 2014Aging could decrease Korea’s annual economic growth rate by 0.87 percent per year, as mentioned at the Bank of Korea (BOK) Conference 2014. Also mentioned is the possibility that the...
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Korean Steelmakers to Face Import Regulations in US Market
US Import RegulationsKorean steelmakers’ exports totaled 10.41 million tons between January and April this year to record 8.5 percent from a year earlier. The export growth rate had been at a negative...
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Listed Companies Failed to Improve Profitability in Q1
Unimproved PerformanceThe companies listed on the KOSPI suffered a decrease in profitability and operating profits during the first quarter of this year, in spite of some quantitative growth. The Korea...
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Samsung Group Seeking Original Technology
On the HuntThe Samsung Group is increasing its investment in venture firms having original technology both at home and abroad for a new business beyond smartphones. Samsung Electronics has recently...
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Popularity of Hybrid Cars Rising in Korea
Diesel vs. HybridHybrid vehicles are increasing their presence in the domestic automobile market. The hybrid models of Hyundai Motor Company, Kia Motors, and Japanese automakers are increasing their...
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Woori Bank New York Branch Employee Sued for Sexual Harassment
InappropriationsWoori Bank is getting itself into sex and loan scandals in major cities around the world.Two contract employees filed a lawsuit in New York Criminal Court against Woori Bank New York...
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Fashion Firms Releasing New Products Incorporating Information Technology
IT-incorporated FashionsFashion companies are using advanced technology for product design and features as well as the development of functional fabrics. For example, they are adopting big data to...
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Korea’s Exports to China Fell for the First Time in 15 Months
Korea-China TradeKorea’s exports to China are on the decline. The government comes up with joint measures with the private sector to cope with the situation.According to the Ministry of Trade, Industry...
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EWP Contributes to Cleaner Environment with Coal Upgrade
Emissions ControlReducing the emission of greenhouse gases has been a tough burden for the whole world. As we has become more and more aware of the seriousness of greenhouse gases, countries have...
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Kia Motors Transporting the World Cup
Kia RepresentsKia Motors, the official automotive partner of FIFA, conducted a handover ceremony today at Arena de Sao Paulo in Sao Paulo, Brazil for the supply of a fleet of official vehicles to...
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Korea Develops Tech to Manipulate Characteristics of Carbon Material to...
Basic Fashion TechEach morning a professional woman picks up a scarf in a hurry without searching through her closet, since she can change the color of her clothes by pushing a button. An office worker...
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SK Hynix to Acquire Firmware Business of Belarus-based Softeq
NAND Flash CompetitivenessSK Hynix announced on June 5 that it bought the firmware division of Softeq Development FLLC to improve its capability to develop 3D V-NAND flash memory chips. Softeq is a...
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Foreign Exchange Reserves of Korea Reach New High
FX ReservesKorea’s foreign exchange reserves reached an all-time high again, for the 11th consecutive month.The Bank of Korea announced on June 5 that the foreign exchange reserves increased by US$5.07...
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Hyundai, Kia Set New Sales Volume Records in the U.S.
Good WorkBoth Hyundai Motor Company and Kia Motors set new monthly sales records in the United States. The former succeeded in boosting the sales of luxury models such as Equus and Genesis, while the...
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Hyundai Motor Group on Winning Streak in Russian Car Market
#1 in RussiaHyundai Motor Company and Kia Motors are on a roll in Russia while Ford, which was the number one in the local market, is in the face of a halt in production and layoff. Ford used to be the...
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