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Korean Household Debt Increases by 2.8 Trillion in July
Household DebtHousehold debt from banks increased by 2.8 trillion won (US$2.7 billion) last month, largely because of increased housing mortgage loans.In a report on financial market trends in July...
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POSCO Considering Selling off Specialty Steel Business
Steel RestructuringPOSCO is trying to sell off its affiliate company POSCO Specialty Steel.According to sources in the steel industry on August 13, POSCO is attempting to sell out POSCO Specialty Steel...
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Korea Emerges as Center for Environmentally-friendly, Light Materials
Global Materials CenterKorea is becoming a global center for environment-friendly materials. The country has many global electronics and automobile companies, and has made Free Trade Agreements (FTAs)...
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Limitless Competition Starts in Earnest for Mobile Payment Market
Mobile Payment MarketAs Internet companies such as Kakao and Alibaba and telecommunication service providing companies are joining the mobile payment market in addition to commercial banks and credit...
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Korean Research Team Develops Next-gen Superconducting Wire Using Carbon...
Core Material for MRIsA new process to radically enhance next-generation magnesium diboride (MgB2) superconducting wire materials, which is the essence of diagnostic medical devices such as magnetic...
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Naver, SBI Securities Cooperate for Internet Banking Services
SNS-based Universal BankingNaver is holding digital hands with SBI, the largest online financial company in Japan, to accelerate the convergence between finance and information technology. The...
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IPv4-to-IPv6 Conversion Showing Slow Progress, Rising Costs
Conversion to IPv6The existing IPv4 Internet address system is not at all suitable for new industries employing Internet of Things (IoT) and big data. Besides, only 15 million or so addresses are left...
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STX Offshore & Shipbuilding Wins Eight Oil Tanker Contracts
Revival of STXSTX Offshore & Shipbuilding, which is in the middle of restructuring in a voluntary agreement with its creditors, won a series of contracts for building mid-size oil tankers.The...
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60% of Koreans Feeling Socially and Economically Unstable
Emotional StabilityOn August 13, 2014, the Korea Institute for Health and Social Affairs published the results of its survey on the stability Koreans feel in their social and economic positions. The...
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Carbon Emissions Trading System Likely Launched Next Year
CO2 Trading SystemThe Korea Exchange’s emissions trading system development has come to a halt, due to strong opposition from the business and industrial community. The government is planning to deal...
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Stock Price Limit to be Expanded to ±30%
Market Revival ExpectedThe government will expand the stock price limit to ±30 percent starting from January next year, which could increase stock trade volume.Some point out that an increase in the...
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Seoul Sends Message of Reconciliation to Pyongyang to Time with Pope’s Visit
Reconciliation MessageThe National Security Office published a new booklet on national security strategy on August 13. In the book, the South Korean government proposed a conversion from an armistice...
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Galaxy Note 4 to be Released Earlier Together with Galaxy Alpha
Keeping iPhone 6 in CheckFollowing the release of the Galaxy Alpha, an intermediate level smartphone in which Samsung Electronics used metal in the side of the case for the first time in the Samsung...
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Cutting Edge National Defense Robots to be Developed with Korean Software
Defense RobotsAs global weapon systems become unmanned, Korea is also embarking upon developing robots for national defense.This roadmap will include medium and long-term strategies to create...
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“Choinomix” Getting Stronger with Interest Rate Drop from 2.50 percent to...
Decreased Interest RateThe Bank of Korea (BOK) opened an unsurprising Monetary Policy Committee on August 14 and dropped the standard interest rate from 2.50 percent per annum to 2.25 percent. It has...
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Korean Economy Already Lost for 17 Years
Growth StagnationThe Korean economy has been showing stagnation in growth for 17 years since the Asian financial crisis in 1997, lagging behind in the fierce competition with other countries. Korea...
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LG Electronics to Release World's First 34 inch 21:9 Curved IPS Monitor
World’s Biggest MonitorLG Electronics is planning to strengthen its leadership in the monitor market with the release of a new curved monitor.LG announced on August 18 that it will roll out its newest...
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US-Korean Joint Research Team Succeeds in Developing New Material Using...
Futuristic MaterialA Korean research team has successfully synthesized a new material that can be used in the development of materials in the energy area such as fuel cells, thermal conductors, and...
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Premium Building Prices Riding High
Building InvestmentA large number of office buildings in Seoul remain vacant, but prices of premium buildings are skyrocketing.According to real estate company RE/MAX Korea on August 18, the sale price...
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Japan 4x Korea in Economy, Global Corporate Competitiveness
Economic Size ComparisonWhile relationship between Korea and Japan has been strained, it appeared that the size of the economy and major corporate indexes of Japan are over four times greater than...
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