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Lack of Preparation for New Retirement Age in Korean Private Sector
Unprepared for RetirementThe official retirement age will be raised from 55 to 60 in one year and four months, but Korean companies are still ill-prepared to deal with the change. Among corporations...
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Won-yen Exchange Rate at 978 Won per 100 Yen Lowest in Six Years
Exchange RatesAs of 3:55 pm on August 26, the won-yen arbitrage rate of exchange reached 978.82 won per 100 yen, a 1.58 won decrease from the closing value of that day at 6 am.The won-yen exchange rate...
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Technology Financing Loans to Be Expanded to 1 Trillion Won
Tech FinancingThe government will boost the size of technology financing, that is, loans provided in security for technology. Specifically, the Technology Credit Loan Funds of the Industrial Bank of...
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Government to Move Ahead with Pilot Telemedicine Projects
Remote Medical ServicesThe government will accelerate the implementation of policy packages to encourage investments in telemedicine and establishing new medical corporation subsidiaries. At the same...
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Amazon Building Its Own Empire to Counter Google
AntigoogleAmazon, which is about to enter the Korean market, is expanding its scope of business at a fast pace to cover e-commerce, cloud computing, digital content, smart phone services, mobile credit...
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Korean Shipping Companies Lagging behind, Maersk Steaming Ahead
Deteriorating CompetitivenessMaersk showed stellar performance in the first half of this year to overwhelm its competitors in Korea. Concerns are rising over the possibility of a widening gap between...
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Lotte Opens Skyscraper in Hanoi
Changing Hanoi's SkyThe Lotte Group is holding the opening ceremony for the 272 meter high Lotte Center Hanoi, its first multi-use skyscraper outside of Korea, on September 2, five years after...
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Duty-free Limit on Carry-on Items to be Raised to US$600 after Sept. 5
Duty FreerThe duty-free limit of travelers entering Korea after Sept. 5 will be raised to US$600.The Ministry of Strategy and Finance announced on August 27 that the advance legislation notice of the...
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Samsung Begins Mass Production of 3D TSV Technology-based DDR4 Modules
3D DRAM ModulesSamsung Electronics announced on August 27 that it has started to mass produce 64 GB DDR4 modules using Through Silicon Via (TSV) technology.TSV technology is a high performance...
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Korean Research Team Develops Thinnest Probe Made of Gold
Highly Sensitive NanoprobeThe Korea Advanced Institute of Science and Technology (KAIST) announced on August 27 that a research team led by Kim Bong-soo, professor of the Department of Chemistry at...
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ETRI Joins Forces with Oxford University to Develop ICT Platforms
Cooperation with OxfordThe Electronics and Telecommunications Research Institute (ETRI) will join forces to develop technology for ICT platforms and quantum computers. On August 27, Kim Heung-nam,...
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Google to Open “Campus Seoul” Next Year
Google’s Startup SupportThe government, through the partnership with Google, decided to establish a Seoul office specialized in Google’s startup (venture) support programs. The government has actually...
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Samsung Electronics’ Operating Profits Expected to Drop to 6 Trillion Won
Serious Earnings ShortfallThe operating profits of Samsung Electronics are expected to drop below 6 trillion won (US$5.9 billion) during the third quarter of this year. As this is the third quarter of...
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Concept of Convergence Security Drawing Attention
Advanced Security ConceptThe credit card information leakage that occurred in January this year, in which 104 million sets of data were compromised, was committed by Korea Credit Bureau employees who...
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Financial Industry Union Pushes Ahead with Next Month's Strike
Strikes in Financial SectorThe Korea Financial Industry Union (KFIU) will go on a general strike on Sept. 3. It is expected that bank customers will experience some inconveniences, although banks are...
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Foreign Companies with over 1 Trillion Won of Sales Revenues Pay 80% of Net...
Focus on DividendsTwenty-eight foreign companies with more than 1 trillion won in sales revenues have paid 80 percent of their net incomes as dividends for the last three years.For the last three...
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KORES’s Investment in Mexico Copper Mine Full of Faults
Seniority MomentThe Board of Audit and Inspection of Korea (BAI) recently announced that the Korea Resource Corporation (KORES) has gone at least 200 billion won into debt from a resource development...
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Current Account Surplus in Black for 29 Months in a Row
In the BlackKorea recorded a current account surplus of US$7.91 billion in July to remain in the black for 29 consecutive months. According to the Bank of Korea’s tentative data announced on August 28,...
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Korea Fair Trade Commission to Launch Investigation into Kakao
Market MonopolyThe Korea Fair Trade Commission (FTC) has launched an investigation into allegations of unfair business practices by Kakao.According to industry sources on August 28, the country’s...
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Chinese Investment in Jeju Not Bringing Consumption, Employment to Region
Foreign Capital EffectsThe Bai Tong Sinwon Resort is a 243.2 billion won (US$239 million) development by the Bai Tong Group, a Chinese real estate developing company, at Namwon-eup, Seogwipo City. The...
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