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Small & Medium Business Administration Fosters Gazelle Companies
SME NurturingThe Korean government is concentrating its resources on the growth of gazelle-type companies in the framework of its three-year plan for economic innovation. A pilot project for policy...
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LG U+ Develops Smart Automated Locker System Converging IoT with LTE
Smart LockersLG U+ announced on June 17 that it is working on a smart automated locker project that integrates LTE network-based Internet of Things (IoT) technology into automated lockers in the subway...
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User-made LINE Stickers Becoming Successful
User’s MarketWidely-popular mobile messaging app LINE turned over nearly 1.7 billion won (US$1.66 million) in May with sales of stickers made by users. According to Naver, the company behind LINE, on...
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Samsung Considers Buying Speech Recognition Software Maker Nuance Communications
Speech RecognitionAccording to the Wall Street Journal on June 16 (local time), Samsung Electronics is currently considering whether or not to acquire Nuance Communications, which developed speech...
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Korea Aims to Become 1 of 3 Major Intelligent Car Producers by 2020
Future Growth EnginesKorea anticipates that it will become the world’s largest 5G handset market and one of the three major countries that dominate the global intelligent car market by 2020. The Korean...
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World Leaders Gather in Korea to Discuss Expanding Protective Trade
Trade RegulationsAs the prevailing trend against protective trade continues, major countries gather in Korea to discuss countermeasures.According to the Institute for International Trade under the...
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Korea Research Team Discovers Serious Side Effects of Terahertz Radiation
Side Effects of RadiationTerahertz radiation, formerly thought to be harmless to the human body due to its low energy and to have wider applications than X-rays, has been found to have side effects....
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Will Increasing Price of Chemical Products Lead to Market Recovery?
Chemical IndustryThe price of chemical products such as polyethylene (PE), polyvinyl chloride (PVC), and butadiene (BD) is on the rise.According to the Korea Petrochemical Industry Association on June...
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Software Companies Account Just for 8.3% of World Class 300 Project
Software PromotionThe government announced that it will nurture the software sector, but the companies selected to get financial support make up only 10 percent of the industry. According to the Small...
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Economic Cooperation Worth US$12.9 Billion Discussed at Korea-Uzbekistan...
Korea-Uzbekistan CooperationIn her state visit to Uzbekistan President Park Geun-hye held a summit meeting with President Islam Karimov on June 17 and exchanged views on economic cooperation worth...
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S. Korea, Kazakhstan Agree to Expand Joint Economic Cooperation Projects
Korea-Kazakhstan SummitSouth Korean President Park Geun-hye and her Kazakh counterpart Nursultan Nazarbayev announced on June 19 a common communiqué to work closely together for realization of the...
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S. Korea, China Still Negotiating President Xi’s Visit Schedule to Seoul
Tentative DatesChina’s foreign ministry said on June 19 that South Korea and China are still arranging the specific schedule for President Xi Jinping’s visit to South Korea with a hope that the trip...
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Hyundai Motor Tops U.S. Initial Quality Survey in High Volume Brand Category
Brand SatisfactionHyundai Motor announced on June 19 that it ranked #1 in the “Initial Quality Survey in 2014” that US-based market researcher J.D. Power unveiled on the previous day.Korea’s largest...
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Tri-band LTE Galaxy S5 Coming with QHD AMOLED Screen, Delivering 225 Mbps Speed
Tri-band LTE GalaxySamsung Electronics’ tri-band LTE Galaxy S5 will offer much faster download speeds. The world’s first Tri-band LTE phone will be sold at around 940,000 won (US$922) per unit.The...
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South Korea Becomes Biggest Investor in Vietnam, Beating Japan
Largest InvestorVietnam is rising as a manufacturing hub for South Korean companies. While electric and electronic industries are leading investments in Vietnam, many textile and shoe companies are...
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K-Sure to Guarantee High Risk Foreign Project Financing of KDB
Project Financing InsuranceKorea Development Bank (KDB) will expand its overseas business guaranteed by the Korea Trade Insurance Corporation (K-Sure).The consultative group for Korean financing...
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LINE to Target Chinese Market in 2H 2014
Messenger CompetitionLINE is rapidly growing in the worldwide mobile messaging market. As the Korean messaging app is expected to secure nearly 600 million subscribers as early as the end of this year,...
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“No Military Alliance” Between China and North Korea
Unexpected CommentA Chinese Foreign Ministry official stated, “There is no military alliance between China and North Korea,” which is an unexpected statement from China. Ever since North Korea...
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D-300 Ceremony for Successful 2015 World Water Forum
Water Water EverywhereOn June 19, the organization committee for the 2015 World Water Forum announced that it held the Declaration Ceremony for a Successful 7th Water World Forum at EXCO in Daegu.This...
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Kookmin Bank May Report IBM Korea to the Antitrust Watchdog for Unreasonable...
KB Bank’s Internal ConflictIBM Korea’s offered prices for a mainframe operating system to Kookmin Bank CEO Lee Kun-ho are a reportedly temporary offer applicable until June 30, which is nearly...
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