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Highest Foreign Exchange Reserves for 13 Consecutive Months
FX ReservesForeign exchange reserves for Korea broke highest records for 13 consecutive months.The Bank of Korea announced on August 5 that foreign exchange reserves increased to US$368.03 billion at...
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Korean Mobile Games to Challenge China Dream
Opportunity & RiskThe mobile game market in China is growing rapidly, and Korean mobile companies might be able to find new breakthroughs in China.The growth potential of the Chinese mobile game...
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Korean, Foreign Solutions Competing for Internet of Things Market
Internet of SolutionsClashes between Korean and foreign solutions are expected in Internet of Things (IoT) marketing.According to the industry on August 4, DAOUDATA will provide the IoT marketing...
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Korean Research Team Develops Tech to Produce Plastic Materials Using Bacteria
New BiomaterialA Korean research team has successfully developed a method to manufacture plastic materials with bacteria. Much attention is being paid to whether or not the method will lead to the...
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774 Individuals, Corporations with Over 24 Trillion Won Abroad
Overseas Bank AccountsA total of 774 individuals and corporations owned 7,905 banking accounts with deposits of at least one billion won each outside of Korea last year. The combined account balance...
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Chinese Smartphone Makers Targeting Korean Market
Chinese SmartphonesChina has been famous for fake products, but now Chinese smartphone manufacturers are pushing into the local market. It proves that they have grown rapidly such that they are ready...
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Dividend-stingy Conglomerates Hold Key to Economic Recovery
Key to Economic RecoveryDeputy Prime Minister Choi Kyung-hwan’s new policy, characterized by spending 41 trillion won (US$39.6 billion) for deregulation, financial, and tax reform purposes, is adding...
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Global Oil and Gas Workforce Provider Launches in Korea as Air Energy Kitco
Reasonable AccommodationNow the only provider of end-to-end workforce solutions locally and platform for international expansion across North AsiaAir Energi Group, the global workforce solutions...
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ICT Sector Exports Hit Record High in July
ICT ExportsThe Ministry of Science, ICT and Future Planning announced that the exports from the information and communication technology sector increased by 1.7 percent from a year earlier to US$14.28...
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LG Chem Battery Division Recorded 900% Growth in Business Profits
Astonishing ProfitsLG Chem announced on August 6 that its battery business unit recorded 1.4053 trillion won (US$1.3505 billion) in sales and 42.4 billion won (US$40.8 million) in operating profits in...
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Samsung Electronics Releases 3 Bit Vertical NAND Chip
3Bit V-NANDSamsung Electronics unveiled a 32-layer 3 bit V-NAND, which is a NAND flash memory chip having a three-dimensional vertical structure with three-bit technology capable of boosting data...
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Super-luxury Mercedes Benz Limousines Found in Military Parade in Pyongyang
Sanction ControversyNorth Korea recently aired a military parade in which two Mercedes-Benz limousines were shown worth 2 billion won (US$1.9 million) each. It has led to disputes over the efficacy of...
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Samsung to Showcase New Smart Watch with Voice Call Function
Smart Watch SmartphoneRumors have been widely circulated about Samsung Electronics' launch of a new smart watch equipped with a Universal Subscriber Identity Module (USIM).According to industry sources...
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China Bans Apple Products for Gov't Use
Keeping Apple AwayThe Chinese government has prohibited government agencies from purchasing 10 IT products imported from the United States, including Apple’s iPad and MacBook, amid its confrontation...
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China Blocks Line, Kakaotalk to “Prevent Terrorism” amid Availability of...
Illogical ReasoningThe Korean government officially announced that people in China have not been able to access Korean messaging apps Line and KakaoTalk for nearly 40 days, since the Chinese government...
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Tax Reduction on Dividends, Taxation on Corporate Internal Reserves Gives...
End of ControversyA tax reduction on dividend incomes, part of the government’s tax reform plans, has been controversial, as this plan might be especially beneficial to owners of certain conglomerates....
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Consumers in Asia Including Koreans Turning Their Backs on Luxury Brands
Luxury Brand HumiliationGlobal luxury brands as a group have had a very weak performance during the first half of this year, as the sales of leather goods dropped. Sales are constantly declining,...
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Wearable Gadgets Posing Risk of Personal Information Abuse
Privacy InfringementThe domestic legal system should be changed to better deal with the possibility of privacy infringement by wearable devices such as Google Glass.According to the National...
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Power Semiconductor Market Expected to Grow 10% Annually 'til 2020
Capturing New MarketAs interest in environmentally-friendly energy and energy savings are hiking, power semiconductors are considered to be new growth drivers. However, since Korean companies cannot...
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Samsung Electronics Concerned about Struggling System LSI Business
Samsung ProblemsAccording to industry sources and overseas media outlets on August 6, Samsung Electronics' System LSI division is expected to record operating losses this year. In an August 5 article...
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