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Lotte Group Chairman under Investigation for Unreported Foreign Currency...
Tycoon MalpracticeThe Financial Supervisory Service (FSS) has started an investigation into 20 wealthy individuals who are suspected of having carried in US$50 million from abroad for property...
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CJ Group Chairman under Suspicion of Tax Evasion, Embezzlement Appeals to the...
Ordeal ContinuesCJ Group Chairman Lee Jae-hyun, who has been sentenced to three years in prison for embezzlement after appeal, misappropriation, and tax evasion worth 160 billion won (US$153 million),...
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New Strategy Required for Korea as ICT Powerhouse
To Our ReadersKorea has failed over and over at globalizing its new technologies and leading the innovation of the international ICT market. Smartphones, 4G mobile telephony, MP3 players, social...
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South Korean President Mentions Human Rights Issues at UN General Assembly
Human Rights at UNPresident Park Geun-hye mentioned the issues of the North Korean people’s human rights, wartime violence against women, and the international community’s cooperation for...
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PLG Electronics UK Mocks Bendy iPhone 6 Plus
iPhone 6 Plus DigsLG Electronics UK made fun of the iPhone 6 Plus on Twitter on Sept. 23 (local time). It posted a picture of the LG G Flex, pointing out the bending problem of the iPhone 6 Plus....
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Security Solutions on Smartphones for Export Gain Momentum
Strengthened SecurityDue to growing mobile security threats such as smishing and malicious apps, handset makers are pushing forward with a measure to release mobile phones with built-in security...
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Expertise of Korea's e-Government System Passing on to Developed Countries
Korean e-GovernmentKorea's expertise in IT infrastructure for public services has recently been passed on to developed countries. In particular, Korea, which ranked first in U.N. e-government ratings...
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Distribution of Aircraft Frequencies, Promotion of IoT Use to be Discussed
2014 ITU Plenipotentiary Conference ICT-related issues will be discussed and decided by member countries at the 2014 ITU Plenipotentiary Conference (PP-14) held in Busan from Oct. 20 to Nov. 7....
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Science and Engineering PhDs’ Average Earned Income for 2012 Revealed
Living LargeThe average earned income of Koreans with doctorate degrees in the science and engineering fields was 76.13 million won (US$72,897) in 2012.According to the Ministry of Science, ICT and...
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Microsoft Getting Greedier in Korea
Microsoft GreedMicrosoft CEO Satya Nadella delivered a keynote speech at Tech Days Korea 2014 in Seoul on Sept. 24, stressing that developers need to adopt a new development methodology in step with...
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Seoul City Mayor Urges Central Gov't to Allow Direct Exchanges between Local...
Role ExpansionSeoul City Mayor Park Won-soon said that law has to be revised to allow local governments to be engaged in business with North Korea so that the South can be more active in inter-Korean...
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New Window System Launched by Eagon Windows & Doors
Innovative WindowsEagon Windows & Doors (CEO Ahn Ki-young) released new storm window and system window products. The new window is easy to install, with a slim and beautiful design, while the...
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KOSPI Likely to Remain Bearish in October
Performance CrisisThe Korea Composite Stock Price Index (KOSPI) is showing a negative outlook for October due to the end of the tapering, slowdown of the Chinese economy, and listed companies’ Q3...
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Hyundai Motor, Samsung Group Lose 27 Trillion Won in Market Cap in Q3
Money EvaporationThe combined aggregate market value of the listed subsidiaries of the 10 major business groups in Korea has dropped by 32.5353 trillion won (US$30.8819 billion) since the beginning of...
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New Techs Displayed for Smart Bicycle, Using Smartphone as Mouse
Ingenious IdeasA method to change a smartphone into a computer mouse and a technique to make auto-balancing cycles were selected as excellent projects at the Samsung Software Membership Exhibition....
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Local Venture Firm Brings Legal Action against Apple for Patent Infringement
Little GiantApple, which has been involved in patent infringement lawsuits with Samsung Electronics worldwide, was reported to Seoul Central District Prosecutor's Office this time for infringing a...
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Daum, Kakao Entangled in Ideological Disputes Ahead of Official Merger
Innovation vs. Ideology As Daum Communications and Kakao are embroiled in disputes of political ideology ahead of their merger, many are calling for maintaining neutrality. Daum is generally...
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Korean, Chinese Smartphones Competing in Home Markets
Price War BeginsHuawei has launched a new offensive to dominate the Korean market with a new flagship smartphone, while Samsung Electronics is doing the same to increase its share of the Chinese...
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Imported Luxury Cars’ Growth in Korea Stagnates 1st Time in 4 Years
Import Cars Less SoThe growth of expensive imported cars in Korea, priced at 40 million won (US$37,977) or higher specifically, has come to a standstill. In contrast, Korean luxury cars have regained a...
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Economy Now More Dependent on Chaebols than Before
Economic ConcentrationThe Korean economy’s dependence on the 30 largest conglomerates, including the Samsung and Hyundai Motor Groups, has increased steadily since 2009. On Sept. 29, the Korea...
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