Clik here to view.
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...
View ArticleClik here to view.
Carmakers from Home and Aboard Entering Competition to Dominate PHEV Market...
1L=50km CompetitionMany plug-in hybrid electric vehicles (PHEVs) that have become the mainstream of environmentally-friendly vehicles will be introduced in Korea next year. As PHEVs capable of...
View ArticleClik here to view.
IKEA Causing Conflict in Korean Furniture Industry
Particle Board TariffConflicts between the furniture and wood panel industries have ignited again regarding the tariff on particle board (PB). All these conflicts started when the furniture industry,...
View ArticleClik here to view.
Luxury Goods Smuggling Ring Uncovered, Run by Korean Flight Attendants
International SmugglingAn increasing number of Korean flight attendants are being caught smuggling luxury goods. According to the Korea Customs Service, the monetary amount of smuggling by flight...
View ArticleClik here to view.
World Korean Community Leaders Gather to Strengthen Bond to Motherland
Global KoreansThe 2014 World Korean Community Leaders Convention was held from Oct. 7 to 9 at the Grand Hilton Seoul. Organized by Overseas Koreans Foundation (OKF), Korean community leaders and about...
View ArticleClik here to view.
Samsung Develops 30 Times Faster 5G
30x Faster MobileSamsung Electronics demonstrated 5G mobile technology in a vehicle moving more than 100 kilometers per hour on Oct. 15.Samsung announced that it successfully transmitted 1.2 Gbps of...
View ArticleClik here to view.
Wireless Power Charging of Wearable, Implanted Devices to be Commercialized
Wireless Power CommercializationImagine walking down the street and recharging your smartphone at the same time because you are in range of a “Wi-Po Zone,” a wireless power transmission area. The...
View ArticleClik here to view.
Heads of BMW Korea, Mercedes Benz Korea to Testify to Parliament
Parliamentary InspectionThe representatives of the Korean offices of BMW, Mercedes Benz, and Audi will attend the parliamentary inspection to explain about suspicions concerning the automakers’...
View ArticleClik here to view.
Intellectual Property Fees Paid by Korea Likely to Reach Record High
Increasing Patent RoyaltiesAccording to the Bank of Korea’s data, a total of US$7.47 billion was paid by Korea to foreign companies as intellectual property fees during the first eight months of this...
View ArticleClik here to view.
Bank of Korea Cuts Benchmark Rate to 2.0%
Lowered Benchmark RateThe Bank of Korea held a Monetary Policy Committee meeting on Oct. 15 and lowered the key rate from 2.25 percent to 2.0 percent. It had cut the key rate from 2.50 percent to 2.25...
View ArticleClik here to view.
Korean Shipbuilders in Deep Trouble
Less than Great ExpectationsMajor Korean shipbuilders attained their business goals earlier than expected last year and raised their order targets for 2014 on expectations that more orders would be...
View ArticleClik here to view.
Korean Government to Develop Smart Media Industry Worth 14 Trillion Won by 2020
Governmental PromotionThe Ministry of Science, ICT and Future Planning (MSIP) has established a plan to nurture the local smart media industry to until it grows to 14 trillion won (US$13.2 billion) by...
View ArticleClik here to view.
Rapid Growth of Chinese Semiconductor Market Offering Opportunities,...
Chinese Self-sufficiencyDue to the rapid growth of the smart device and PC markets in China, the self-sufficiency rate of semiconductors is expected to increase very quickly in China. The Chinese...
View ArticleClik here to view.
Rapidly-increasing Illegal, Obscene Content on Google, YouTube without...
Obscene ContentThe amount of illegal and obscene content accessible through foreign web sites such as Google and YouTube is increasing, but the supervising body is overlooking this.Congressman Song...
View ArticleClik here to view.
Mando Develops Active Retraction Caliper that Enhances Fuel Efficiency
Fuel Efficient ARCMando announced on Oct. 15 that it succeeded in developing its own Active Retraction Caliper (ARC) which remarkably enhances fuel efficiency. Caliper brakes are the standard for...
View ArticleClik here to view.
KakaoTalk Confirms Noncompliance with Wiretapping Warrants to Protect...
Business before LawA fierce battle over cyber censorship is being waged in the parliamentary audit targeting the Seoul Public Prosecutors' Office and District Prosecutor's Offices on Oct. 16. In...
View ArticleClik here to view.
Korean Version of Telegram Released with Korean Webtoon Emoticons
Korean TelegramMobile content provider Bookpal unveiled its free mobile messenger, Bookpal Talk, on Oct. 16 via Google Play.Based on the open source Telegram source code, the messenger service allows...
View ArticleClik here to view.
Galaxy S6 to Feature Exynos 7 with Iris Recognition
Exynos 7 PhoneSamsung Electronics is going to use the octa-core Exynos 7 processor in the Galaxy S6, which is scheduled to be released early next year. With the release date approaching, images of the...
View ArticleClik here to view.
Korea Hydro & Nuclear Power Needs to Prevent Employee ID Exposure
No SecurityKorea Hydro & Nuclear Power (KHNP, CEO Cho Seok) decided to increase the number of staff shifting for radiation safety management from five to ten, as a follow-up to the recent employee...
View ArticleClik here to view.
Hanwha E&C Receives 410 Billion Won Deposit for New City Construction in Iraq
City Construction in IraqHanwha E&C (CEO Lee Geun-po) announced on Oct. 16 that the company received the fourth deposit of US$387.5 million for the construction of Bismayah New City in Iraq, the...
View Article