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Domestic ICT Exports Drop Slightly in August
ICT ExportsThe monthly exports of the domestic information and communications technology (ICT) sector fell 2.1 percent year-on-year in August. Although it recorded a trade balance much higher than the...
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Delayed Low Carbon Policy Lowers Global Competitiveness of Electric Vehicles
Lowered IncentivesThe low carbon incentive system is behind schedule, and the automobile manufacturers in Korea are feeling relieved. However, some fear that Korea might be left out of the global...
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1,687 Million Tons of Carbon Emission Quota Fixed for Three Years
Emissions QuotaThe total carbon emissions to be allowed to all Korean companies for the next three years has been fixed at 1,687 million tons. By industry, power generation, steel, and petrochemicals...
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VIP Customers Receive Same Services at Galleria and Bergdorf
Luxury UnionThe Galleria, one of Korea’s most luxurious department stores, has joined forces with Bergdorf Goodman, one of the most luxurious “Fifth Avenue” department stores from New York.Hanwha...
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Louis Vuitton Invests 82 Billion Won into YG Entertainment
Fashion, Music CollaborationInvestment cooperation between YG Entertainment and Louis Vuitton Moet Hennessy (LVMH) has officially started.YG Entertainment announced on Sept. 13 that LVMH Group invested...
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World’s First Electric Vehicle Racing Tournament
Formula EThe world’s first electric vehicle racing tournament, the “Formula E,” was held in the Beijing Olympic Green Circuit on Sept. 13.This competition is the very first fully electric racing series...
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Half of Foreign Card Transactions in Korea Made by Chinese Tourists in H1...
Chinese PowerChinese tourists have exceeded 50 percent of the total credit card transactions by foreigners in Korea during the first half of this year.According to the analysis of foreign credit card...
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Used, Directly-purchased Phones to Get 10% Discount in Bill
Replacement for SubsidyOwners of used phones and those who use phones directly purchased through overseas websites do not require mobile phone subsidies, and are expected to get a 10 percent discount...
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Ailing Korea Tourism Organization Plagued with Ongoing Parachute Appointments
Invasion of IncompetenceThe Korea Tourism Organization (KTO) received a D grade in its public enterprise evaluation in last year for its poor management and 20 billion won (US$19.3 million) in...
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CJ Group Chairman Sentenced to Imprisonment in Appeal Trial
Different Face from FilmLee Jae-hyun, chairman of the CJ Group, soon after undergoing kidney transplant surgery.The Seoul High Court sentenced CJ Group Chairman Lee Jae-hyun, who had been indicted for...
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Major Securities Companies Allowed to Procure US Dollars
Local IBs DesignatedThe five major securities companies that have been designated as investment banks will receive a foreign exchange credit line of up to 10 percent of equity capital.This means that...
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Foreign Currency Deposits Increasing in Popularity
Preference for Foreign CurrencyForeign currency deposit products are gaining increasing popularity as more and more investors are expecting that the U.S. dollar will appreciate with time. In addition,...
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Popularization of Smart Cars Heating Up Competition
Era of Smart CarsGlobal automakers’ smart car competition is heating up. The Hyundai Motor Group is planning to unveil its first self-driving vehicle in 2016 or later. To this end, it is going to wrap...
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Korean Automotive Industry Exploring the Possibility of Car Shoes
Evolution of Wearable DevicesWith the introduction of the Apple Watch following the Galaxy Gear and the G Watch R, an increasing number of mobile IT products are being released in the form of wearable...
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Are iPhone 6, Apple Watch Just Patchwork Samsung, LG Products?
Embroiled in Coping ControversyApple, which has been called an icon of innovation, recently unveiled the iPhone 6, iPhone 6 Plus, and the Apple Watch. But the reveal has been “non-extrordinary,” since...
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Smart Scroll Feature Suddenly Disappears in Galaxy S5
Smartphone Sensor FunctionSamsung Electronics' smartphone sensor technology has been dragged down by technological and legal problems.According to Samsung on Sept. 15, the Smart Scroll feature was...
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Samsung Requests Prosecution Probe into LG Senior Officials’ Suspected Vandalism
Scandal at IFASamsung Electronics said on Sept. 14 that it has requested an investigation into the senior officials of LG Electronics, including Jo Seong-jin, CEO of LG's home appliance business unit,...
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Korean Research Team Develops Tech to Mass Produce Hydrogen
Fueling Cars with WaterThe technology to mass produce hydrogen out of water using sunlight has been developed, which means that a breakthrough to secure hydrogen, a next-gen source of energy, has been...
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Sony Regains #1 Position in Korean Compact Camera Market First in Nine Years
Retaking CrownSony reclaimed the number one in the Korean compact camera market for the first time in nine years, beating Samsung Electronics.According to market research company GfK, on Sept. 15 Sony...
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Chinese Banks in Korea Becoming Monetary “Black Holes” through Yuan Deposits
Dangerous TemptationChinese banks are rapidly absorbing money from financial institutions, including insurance and asset management companies, as well as wealthy individuals. In August especially they...
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