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Cars Discontinued in Korea Still Alive, Kicking Abroad
Different ResponsesSsangyong Motors’ SUV Actyon, which was recently released in Kazakhstan with the name Nomad, is a model discontinued in Korea four years ago. The production of Kyron, another main...
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Notice of Sale of PanOcean Early Next Month
Sale of PanOceanThe disposal of PanOcean, a former subsidiary of the STX Group that is in court receivership now, is gaining speed. According to industry sources, creditors are going to make a public...
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Korean Companies Named as Potential Candidates to Buy GE's Home Appliance Unit
GE's Home AppliancesAfter more than 100 years of dominating American kitchens, General Electrics (GE) is trying to sell its iconic home appliance unit. The fact that two Korean companies are cited as...
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Electronic Wallet Services on Mobile Devices Emerge as Alternative to Passbooks
Bankbook AppsBankbooks are less popular these days. As smart banking is widely used, electronic wallet applications are replacing bankbooks.According to sources in the financial industry on July 15,...
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Telecoms Policy to be Changed from Subsidy-centered to Service-oriented
Reform of Competitive SystemThe Korean government is working to establish mid to long term policies for telecommunications, seven years after its last attempt. The government has been criticized by a...
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Korea’s Largest Cultural Content Marketplace Opens in Gwangju in September
Cultural Entertainment FairFrom Sept. 25 to 28, the 2014 Gwangju Asia Content & Entertainment (ACE) Fair will open at Kimdaejung Convention Center in Gwangju, South Korea. Around 400 companies...
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KCC to Visit Google's HQs for Deleting Personal Information of Koreans
Visit to Google HQThe Korea Communications Commission (KCC) is scheduled to visit Google's headquarters located at the heart of Silicon Valley between July 22 and July 25, in order to verify whether or...
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Why is Launch of KakaoTalk's Mobile Wallet Delayed?
Mobile WalletThe release of the mobile money transfer service based on mobile messaging platform KakaoTalk has been delayed. At first, Kakao expected to introduce the Bank Wallet during the first half...
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Samsung-Google Relationship becoming Awkward?
Tizen ConflictThe relationship between Samsung Electronics and Google, the biggest partners in the global smart phone industry, is becoming awkward. Google expressed strong displeasure with Samsung’s...
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Exclusive Spatial Information Satellites to be Launched by 2019
Exclusive SatellitesIn order to realize more elaborate next generation spatial information services, a satellite created exclusively for spatial information will be launched in 2019. This will enable...
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Low-priced Foreign Smartphones Changing Category of Popular Smartphones in...
Concept ChangeWith the price of entry-level and mid-range smartphones lowering, the criteria for those phones is also changing. So far, Korean handset makers like Samsung and LG Electronics have...
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Hyundai Chairman to “Maintain Shipping and North Korea Businesses No Matter...
Foothold BusinessesThe Hyundai Group has been done with self-restructuring strategies including the selloff of Hyundai Logistics, and the protected shipping and North Korea businesses.The Hyundai Group...
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Samsung, Apple, Google to Execute Series of M&As to Dominate Smart Home Market
Smart Home M&AsWhile Samsung Electronics is activating its growth drive for the smart home business based on the Internet of Things (IoT), Google and Apple are becoming new rising stars in this...
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SK Telecom Withdraws from Europe to Concentrate on Southeast Asia
Business ConcentrationSK Telecom (CEO Ha Sung-min) shut down its European office after 12 years in business in order to focus on the Southeast Asian markets such as China and Vietnam.The company closed...
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GM Korea's Measure to Expand Scope of Ordinary Wages to Have Great Repercussions
Ordinary Wage DisputesThere is a growing conflict between unions and management in the auto industry over ordinary wages, despite GM Korea's endeavor to include regular bonuses in the ordinary wage...
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“One Elderly Per Two Productive People in Korea by 2036”
Aging Country RankThe number of economically-active people supporting one elderly person will drop below two in Korea by 2036. Korea is expected to become an aging country the most quickly in the...
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Alliance Emerging as Key Strategy amid Fierce Competition to Dominate IoT Market
2nd IT World WarFierce competition to dominate the market triggered by the Internet of Things (IoT), so called the second IT world war, accelerates market participants to form alliances. Each of them...
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Doosan Group Concentrates on Fuel Cells
Future Growth EngineThe Doosan Group is focusing on the fuel cell business as one of its future growth drivers.The company merged with Fuel Cell Power, a local home-use fuel cell provider, on July 10...
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454 Venture Firms Turned Over 100 Billion Won Last Year, on Average 18 Years...
100 Billion Venture ClubThe number of venture businesses that recorded sales of 100 billion won (US$97 million) last year is seven times as high as the figure for 2003. Those startup ventures are...
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Crisis Looming Large over Korean Shipping Companies
Shrinking Korean ShippingGlobal shipping companies are increasing their bottoms aggressively to pose concerns to Korean players. Even those in the middle rank are poised to catch up with Korean...
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