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ICT Exports Reach Record Highs in 1H 2014
All-time HighKorea’s exports in the information and communications technology (ICT) sector hit all-time highs during the first half of this year.According to the Ministry of Science, ICT and Future...
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Korean Research Team Develops New Nanomaterial for Cancer Treatment
Advances in Cancer TreatmentThe Ministry of Science, ICT and Future Planning (MSIP) announced on July 9 that a research team led by professor Lee Ji-won from Korea University and Dr. Kim Kwang-myung...
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Korean IT Industry Suffering Unilateral Breaches of Contract in China
China RiskPample, a Korean mobile game company, made a contract with Tencent of China last July to launch the game “Devil Maker” in China. However, Pample was recently notified that Tencent suddenly...
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Korea Very Weak in Money Laundering
Control NeededRelative to the size of the underground economy in Korea, the customer verification system and information sharing is very weak. Accordingly, a government organization to combat money...
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Industries Opposed to Government’s Carbon Emissions Trading Plan
Carbon ConflictThe carbon emissions trading system has been put in place for six months, but the conflict between the government and industry is being exacerbated over details such as the emission...
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Foreign Enterprises Remain Allowed to Participate in Public IT Projects
Bidding QualificationForeign enterprises’ participation in tenders for public informatization will remain possible even after the Special Act on Medium Enterprises is put in place on July 22. The...
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Korea’s Social Cost of Addiction Exceededs 109 Trillion Won
Four AddictionsSocial welfare professor Jung Sul-ki at Choongang University pointed out that Korea spent over 109 trillion won (US$107 billion) in social costs due to four types of addiction - alcohol,...
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SK Telecom Signs MOU with Ericsson for 5G Technology Research
5G CooperationSK Telecom announced that they signed an MOU for joint research on 5G-related technologies with Ericsson at the Ericsson headquarter in Stockholm, Sweden on July 6.The main content of the...
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Is Korea's Smartphone Industry Losing Growth Momentum?
Growing ChallengesThere is a growing concern about the weakening competitiveness of the local smartphone industry. Samsung Electronics recorded an earnings shock in the first quarter of this year owing...
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Korea Firm to Release New Software that Blocks Malicious Code
Blocking Malicious CodeOn July 10, IGLOO Security announced that it will release a new solution “IS-KIMO” that can prevent malicious code from infecting PCs due to software vulnerabilities. This...
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Big Four Steel Companies in Korea to Start Financial Restructuring
Bumpy Road AheadKorean steel companies are focusing on improving their financial structure. As the recession continues, they are trying to increase the cash flow by sell-offs of minor businesses and...
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FSC to Ease Hidden Restrictions While Promoting Autonomy, Competition in Market
Financial Regulation ReformAccording to the financial regulation reformation plan announced by the Financial Services Commission on July 10, “hidden restrictions” such as administrative guidance or...
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Koreans Consider Japan as Second Biggest Military Threat Next to North Korea
Korea-Japan Joint ResearchKoreans consider Japan as the second biggest military threat to South Korea, next to North Korea.The East Asia Institute of Korea and a Japanese NGO “Press NPO” announced such...
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LG Display Develops 18 Inch Flexible OLED
Rollable TVsA rollable TV, just like paper, will be available soon.LG Display announced that they have developed transparent 18 in. flexible OLED technology. Two technologies were introduced at the...
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Korean Gov't Lowers Economic Growth Forecast for 2014
Imminent Downside RisksThe economic slowdown is turning into reality. Not only the Korean government but also the Bank of Korea has adjusted its economic growth forecast for this year downward to a...
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Variables Emerging in Samsung Group’s Governance Structure Reform
Reform HurdlesThe revision of the Insurance Business Act and separation of banking and commerce are emerging as hot issues for the Samsung Group. The matters to be discussed sooner or later by the Fair...
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Four German Automakers Accounting for 70% of Korea’s Import Car Market
German DominanceThe Ministry of Trade, Industry and Energy announced on July 8 that a total of 94,263 imported cars were sold in Korea during the first half of this year, showing a 26.5 percent growth...
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Apple Weans Itself from Samsung in Microprocessors
Souring DiversificationIn an article posted on its website on July 10 (local time), the Wall Street Journal said that Apple started to get microprocessors from Taiwan Semiconductor Manufacturing...
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China's State Broadcaster Labels Location-tracking Service of iPhone as...
US-China Cyber WarChina's influential state broadcaster reported that a location-tracking feature of Apple's iPhone is a “national security concern,” which contributes to friction in cyber security...
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Controversial Mobile Payment Monopoly of Apple, Google
Compulsory In-app PurchasesAccording to industry sources on July 13, there is growing controversy over Google's and Apple's moves that require their own payment systems to be used in in-app purchases....
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