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High-income Executives’ Individual Salaries to be Open to Public
Salary DisclosureThe individual salaries and wage calculation methods of the high-income executives in companies listed on the Korean stock market will be made public down the road, with a minimum...
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Professional Angel Investors Given More Opportunities
Certified ProfessionalA professional angel investment system in which founders and investment reviewers are granted certifications by authorities has been put into place. The new measure is expected to...
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Regulation Cost-in Cost-out Plan in Testing
Deregulation PolicyEight ministries of the Korean government, including the Ministry of Land, Infrastructure & Transport and the Ministry of Oceans and Fisheries, kicked off a test of the...
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Medical Tourism Convention Opens in the Best City for Tourism in Korea
Growing Medical IndustryTo transform Busan into a medical tourism hub, improve its competitiveness in the global medical tourism industry, and attract foreign patients, the City of Busan announced that...
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Xiaomi Releases Mi4 Smartphone
Premium but CheapXiaomi has released its flagship smartphone, the Mi 4.According to news outlets in China on July 22, Xiaomi Tech held a launch event for the Mi4, which has a stainless steel case, in...
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Samsung SDI to Expand Supply of Electric Vehicle Batteries to BMW Group
Samsung SDI-BMW CooperationSamsung SDI signed an MOU with the BMW Group to expand the supply of electric vehicle battery cells at the BMW Driving Center in Yeongjong-do, Incheon on July 14.Samsung SDI...
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President Park Orders to “Revive Economy No Matter What”
1st Priority 2nd CabinetPresident Park Geun-hye emphasized, “The most urgent task is to boost the Korean economy and establish a foundation for an economic renaissance.”President Park said at the first...
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Mobile Game Industry Becoming Big Market with Big Players
Mobile Game MarketCompetition in the Korean mobile game industry is becoming fierce during the second half of this year.Initially, small and medium-sized game developers dominated the Korean mobile...
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Chinese Tencent, Alibaba Compete to Dominate Korean Market
Chinese IT Giants in KoreaAs Chinese Internet giants Tencent and Alibaba are vying with each other to dominate the Korean market, there is growing concern that they are eating away the market share of...
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KAERI Wins International R&D Project for Radioactive Waste Disposal
Nuclear R&D ProjectThe Korea Atomic Energy Research Institute (KAERI) announced on July 22 that it obtained a research and development project from the International Thermonuclear Experimental...
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Korean Healthcare Industry Stuck in a Rut
Crisis of Healthcare IndustryThe domestic healthcare industry, which is estimated to reach 5 trillion won (US$4.9 billion) in size next year according to the Electronics and Telecommunications Research...
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Broadcasters, Telecoms Might Miss Out on 700 MHz Frequency Band
Priority in AllocationThe Ministry of Science, ICT and Future Planning and the Korea Communications Commission are planning to assign the 700 MHz frequency band for disaster communications purposes,...
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Fake Products Account for 0.4% of National GDP
Harm to National EconomyThe taxation authorities failed to collect 520 billion won (US$507 million) in tax from the domestic counterfeit product market last year. The amount is equivalent to 0.3...
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Ssangyong Motor to Consider Bonuses as Ordinary Wages
Following GM KoreaSsangyong Motor proposed to its labor union to include bonuses as ordinary wages on July 23. Since GM Korea suggested similar to its labor union on July 18, ordinary wage expansion...
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Korean Consumer Sentiment Index 55th Place out of 60 Countries
Closing WalletsThe consumer sentiment of Koreans is near the bottom among 60 countries worldwide.Nielsen, a public opinion poll company, conducted a survey of 30,000 online consumers in 60 countries...
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Standard Chartered Compares Korean Economy to Glass Half Full of Water
Ambivalence of Korean EconomyThe Korean economy recently has been compared to a glass half full of water, interpreted as either already half empty or still half full, depending on one's...
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Number of Foreigners Visiting Korea Increased 20.3% Last Month
Increased Foreign VisitorsThe Korea Tourism Organization announced on July 23 that the number of foreigners who visited Korea last month increased 20.3 percent year-on-year to 1,273,627.In particular,...
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Abu Dhabi Investment Authority Likely to Acquire State Tower Namsan
Foreign Sovereign Fund InterestThe Abu Dhabi Investment Authority (ADIA), one of the three largest sovereign funds in the world, is emerging as a promising candidate for the acquisition of the State...
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Why do Global Companies File Patent Lawsuits against Korean Firms?
Patent Lawsuit StrategyGlobal companies are continually trying to check Korean firms' influence. It shows that the Korean industry has grown in stature, but experts point out that local companies...
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Japanese Mobile Component Maker Minebea Intends to Acquire KJ Pretech
Suspicious IntentThere is growing controversy over a Japanese company's plan to buy KJ Pretech. Japanese firms are eying the field of mechanical components for smartphones, as well as other sectors...
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