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Major Global Sovereign Wealth Funds Show Interest in Korea
Investment in KoreaMajor global sovereign wealth funds are diversifying their assets through expanding investment in emerging markets. Capital inflow into Korea is expected to increase as well....
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China Beats US to become World’s Largest Economy
World’s Largest EconomyThe Financial Times (FT), by quoting a report by the International Monetary Fund (IMF), reported on Oct. 8 (local time) that the gross domestic product (GDP) of China is...
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Hyundai Motor, Toyota Go Head-to-head in Global Car Market
Frontal ConfrontationHyundai Motor and Toyota, rivals in the global automobile market, are recently making similar moves. While both of them are securing the local demand in Southeast Asia through taxi...
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800,000 Tons of Alaskan Crude Oil Imported to Korea, 1st Time in 14 Years
US Oil ImportsKorean refineries are moving quickly to import crude oil from the U.S. Recently, U.S. condensate (ultra light crude oil) was imported for the first time in 39 years. Import of Alaskan...
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Hyundai Motor in Desperate Need of Enhanced Brand Power
Sales vs. Brand PowerAutomobiles are not just a means of transportation, but also cultural icons. So, a brand image is essential to determining success in the future automobile market. Unfortunately,...
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Hyundai Heavy Industries Forces All 250 Executives to Submit Resignations
Drastic ReformKwon Oh-gap, president and CEO at Hyundai Heavy Industries, has undertaken radical reform of his company. He ordered all 250 executives at Hyundai Heavy Industries, Hyundai Mipo Dockyard,...
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14% of Import Export Companies Willing to Pay in Won within Three Years
Payments in WonAccording to a survey done on 199 import/export companies by the Institute for International Trade (IIT) at the Korea International Trade Association on Oct. 12, only 6.0 percent of...
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IKEA Criticized as Only Paying Lip Service to Community Cooperation Regulations
Petty TrickIKEA, which starts its business in Korea in December, is said to be planning to open not a furniture store but a shopping mall. This could affect the regional economy to a significant...
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Uber Service to be Prohibited by Law
Uber ControversyRuling Saenuri Party lawmaker Lee No-kun, who is a member of the Land, Infrastructure and Transport Committee of the National Assembly, said on Oct. 13 that he tabled a revision to the...
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President Park Geun-hye Stresses Necessity of High-ranking Inter-Korean Meeting
Two-pronged StrategyOn Oct. 13 President Park Geun-hye said at the 2nd Reunification Preparation Committee Meeting that a high-level meeting between the two Koreas scheduled for the near future should...
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Samsung Electronics Vice Chairman Meets Facebook CEO
IT Giants MeetFacebook CEO Mark Zuckerberg visits Korea on October 14 to meet Samsung Electronics Vice Chairman Lee Jae-yong. This is the third time, the second in 2014 alone, that they will have met...
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95% of Packet Monitoring on KakaoTalk, Naver Line Performed by NIS
Messenger Services MonitoringThe National Intelligence Service (NIS) has been found to have carried out most of the packet monitoring on messenger services such as KakaoTalk and Naver Line.Democratic...
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Samsung to Counterattack Apple, Xiaomi with Galaxy Note Edge, Galaxy A
Countering PhonesMetal and curved are the key words that Samsung Electronics is paying attention to in the second half of this year, in order to check the growing influence of Chinese handset makers...
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SK Broadband to Offer 10 Gbps Internet
100x Faster InternetSK Broadband announced on Oct. 13 that it will showcase the world's first 10 Gbps Internet service at the 2014 ITU Plenipotentiary Conference (PP-14) to be held in Busan from Oct....
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What Talks Have Been Shared between Samsung's Vice Chairman and Facebook's CEO?
Samsung/Facebook MeetingFacebook CEO Mark Zuckerberg met with Samsung Electronics Vice Chairman Lee Jae-yong on Oct. 14 and reportedly agreed on ways to forge a strategic partnership between the two IT...
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Samsung to Provide Premium Subscription-based Service for Milk Music
Change of FeesSamsung Electronics announced on Oct. 14 that it is planning to diversify its music services by adding a premium subscription-based service to the current free one.Due to the strong...
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Korean Research Team Develops Tech to Improve Efficiency of Nanoparticles
Nanoparticle TechThe Korea Research Institute of Standards and Science (KRISS) announced on Oct. 14 that a research team led by Dr. Kim Young-sung from the Center for Nanomaterials Characterization at...
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Domestic Solar Power Demand Expected to Plummet
Dark OutlookThe domestic solar power market is expected to shrink next year due to the slowdown of its growth and the cancellation of the Renewable Portfolio Standard (RPS) quota taking effect in...
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George Friedman Predicts Korea's Reunification to be Abrupt
Reunification PredictionGeorge Friedman, one of the most influential political and military analysts and futurologists in the United States, predicted that inter-Korean reunification will take place...
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Rebates from Duty-free Shops Amount to 1.1654 Trillion Won Since 2009
Duty-free RebatesKorean duty-free shops have paid over 1.1654 trillion won (US$1.0957 billion) of rebates to travel agencies and tour guides in exchange for bringing tourists from 2009 until August...
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