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Listed Companies Achieved Better Growth Potential and Profitability in Q1 2014
Business PerformanceDuring Q1 2014, the revenue growth and profitability of Korean listed companies and major non-listed companies increased. However, their stability became weaker as well, as their...
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KT on Verge of 10 Trillion Won Class Action Suit for Personal Information...
Information Leakage PenaltyThe Korean government imposed an 85 million won (US$83,810) fine on KT, admitting KT’s guilt on information confidentiality. KT’s servers were hacked and the personal...
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Google, Apple Dodging Payment of Surtax Worth 200 Billion Won Each Year
IT Giants’ Tax EvasionThe Korean government is proceeding with a plan to institute a new 10 percent surtax on global companies like Google and Apple for sales reported in the nation through overseas...
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South Korea’s Banks Target Rising Eastern Europe
Overseas Baking ExpansionDomestic banks are actively entering the Eastern European market. This is owed to a decline in the Western European economy, which caused investment funds to shift to Eastern...
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Hyundai E&C Wins Massive Order Worth US$4.8 Billion in Venezuela
Jackpot in Overseas ConstructionHyundai Engineering & Construction (Hyundai E&C) won a plant construction project worth approximately 5 trillion won (US$4.8 billion) in Venezuela. The total...
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National Tax Service Starts Special Investigation into DSME
Doomed to PlummetThe National Tax Service (NTS) launched a special tax investigation on Daewoo Shipbuilding and Marine Engineering (DSME). The last time it conducted a periodic tax investigation was...
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Korea’s Spatial Information Expo to Open in August
Geospatial Expo 2014Ministry of Land, Infrastructure and Transport, Director General of Spatial Information Policy Bureau Park Moo-ik. The Smart Geospatial Expo 2014 will be open for three days from...
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LG-Google’s Ambitious Collaborative Project Tango Going to Hit?
3D Smart Devices3D smart devices, which were in the shadows for a while, are being spotlighted again in the IT device industry these days.According to the industry on July 1, major players inside and...
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Samsung Introduces Consumer-level V-NAND SSD 850 PRO 1TB SSD
Consumer V-NAND SSDSamsung Electronics will officially introduce the V-NAND Brand Solid State Drive (SSD) “850 PRO” in 53 countries on July 21. The 850 PRO is the very first SSD with V-NAND Flash that...
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Korean Research Team Succeeds in Localization of Tech to Store Liquid Hydrogen
Tech LocalizationThe Korea Institute of Science and Technology (KIST) announced on July 1 that a research team led by Dr. Kim Seo-young from the Green City Technology Institute at KIST established a...
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Samsung, SK Hynix Comprise Less Than 50% of Global NAND Flash Memory Market
Slow Chip BusinessSamsung Electronics and SK Hynix together accounted for less than 50 percent of the global NAND flash memory market in the first quarter of this year. This is attributable to the fact...
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South Korean and Chinese Presidents to Sign 12 Diplomatic Documents
Coming Korea-China SummitChinese Vice Foreign Minister Liu Zhenmin held a press conference in Beijing on July 1 and said, “The foremost purpose of the Korea-China summit meeting at this time is to...
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Korean Automakers’ Sales Fell in June
Automobile IndustryThe domestic automobile market is losing steam, with all of the five automakers in Korea having shown a poorer month-on-month performance in June.Specifically, Hyundai Motor Company...
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Chinese, Southeast Asian Broadcasting Companies Copying Korean TV Programs
Undue ImitationAn increasing number of Chinese and Southeast Asian broadcasting companies are imitating Korean programs to take advantage of popular TV dramas and variety shows from Korea....
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Hyundai Heavy Industries Acquires Gas Platform Project in Malaysia
Building Southeast AsiaHyundai Heavy Industries (HHI) acquired a US$700 million project for marine facilities in Malaysia. HHI announced it recently accepted a Letter of Award (LOA) on the first-term...
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US Capital Orders 6 Ships from HMD for US$180 Million
HMD Tanker BuilderHyundai Mipo Dockyard (HMD), once the world’s top maker of mid-size product/chemical tankers (PC tankers), regained its position as the top PC tanker maker by receiving an order for...
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China Blocking KakaoTalk, Line Services
Mishap PreventionChina has blocked the two major Korean mobile messengers “Line” and “KakaoTalk” for more than a day since July 1. This is very unusual, especially as President Xi Jinping will visit...
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Korea, China to Build Partnership in Broadcasting, Digital Content
Digital CooperationKorea is going to strengthen its partnership with China in broadcasting and digital content, in tandem with President Xi Jinping’s visit to Korea.Choi Mun-kee, minister of Science,...
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Korea Might Lose Ground to Google, Apple
Smart Home MarketGoogle and Apple are expected to fiercely compete to take the initiative in the global smart home market.Smart homes where lighting, door lock systems, and temperature are controlled...
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Korea on the Verge of Losing “5G Telecommunication Initiative”
5G InitiativeWhile global IT companies are moving very fast under the table in order to take initiative in the coming 5G telecommunication war, Korea, one of the strongest IT countries, is losing...
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