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Chinese, European Companies Eye Korean Gaming Companies
Local Gaming FirmsKorean game developers are receiving an increasing number of coy glances from overseas firms. Chinese companies are suggesting large-scale investments, and European countries are also...
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Traditional Global IT Companies Target Korean Security Market
Shift from TraditionServer giants like IBM, HP, and Oracle, which dominated the global market with traditional IT systems such as IT infrastructure and software, are now focusing on the Korean security...
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Smart Bands Leading Wearable Device Industry
Health on the WristAccording to industry sources on Nov. 9, fitness bands are leading the wearable device industry, as they comprise a larger proportion of the market than smart watches. Data from...
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Korea Development Institute Opposes Choinomics
ChoinomicsThe Korea Development Institute (KDI) recommended the Ministry of Strategy and Finance to reduce financial expenses over time, maintaining that the government’s supplementary budget last year...
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North Korea Sharply Increases Manpower Export to China
New Economic Cooperation ModelThe number of North Korean workers exported to China increased to 100,000 last year.According to the report “Current Condition and Implication of Entry of North Korean...
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Modernization of North Korean Inland Railway First Step in Connecting Two...
Good News from the NorthAn official at the North Korea Railway authority said that the North Korean inland railway modernization project, which recently started in joint cooperation with Russia, is the...
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Park Geun-hye Supports China’s FTAAP Initiative
Combined Territorial EconomyPresident Park Geun-hye said on Nov. 11 that she is in full support of China’s road map for the Free Trade Area of the Asia Pacific (FTAAP).The FTAAP, which is led by China,...
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Huawei to Establish Smartphone R&D Center in Korea
Chinese R&D in KoreaHuawei is planning to set up a research and development (R&D) center for smartphones in Korea.On Nov. 12, a representative of Huawei Korea confirmed by saying, “We are...
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Participation of Large ICT Companies Increases Size of Mobile Banking Market
Mobile Banking CompetitionDaum Kakao has officially launched its mobile money transfer service Bank Wallet Kakao on Nov. 11, and large ICT companies like Samsung Electronics and LG U+ are also starting...
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Korean Research Team Develops Method to Remove Radioactive Materials with...
Munching on RadsA Korea research team has successfully explained that microalgae in rivers, lakes, and in the sea is very effective in eliminating radioactive materials.The Korea Atomic Energy Research...
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Hyundai Motor Group Haphazardly Expands Green Car Lineup
Misdirected BusinessThe Hyundai Motor Group announced on Nov. 12 that it would increase the number of its eco-friendly vehicle models from seven to at least 22 between this year and 2020.“It is...
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Korea Ready to Become 7th Country to Reach the Moon
Lunar Exploration ProjectKorea’s project to launch a lunar probe using its own launch vehicle has passed its feasibility study by the Ministry of Strategy and Finance to reach the final budget...
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Interest in Public Capital Management Fund Borrowing is Snowballing
National Fiscal HeathIt has been found in the Strategy and Finance Ministry’s budget plan for next year that the Ministry has earmarked 8.9993 trillion won (US$8.2055 billion) as the interest to be...
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Economic Downside Risk on the Rise
Worsening EconomyThe Ministry of Strategy and Finance announced on Nov. 11 that the Korean economy is now subject to a greater downside risk due to the presence of external uncertainties and the slow...
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SK E&C Starts Thermal Power Plant Project in Chile Worth US$1.2 Billion
Power Plant in ChileSK Engineering & Construction (SK E&C) began the construction of a coal-fired thermal power plant in Chile worth US$1.2 billion (1.3 trillion won) on Nov. 12.This project is...
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Deteriorating China-Japan Relationship Steers 1 Million Tourists on Cruises...
Shipping TouristsThe number of cruiser tourists visiting South Korea has amounted to 1 million people a year, a new record. The main reason for the sharp increase is that some Chinese cruise companies...
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WANO Looks into Safety of Hanbit Nuclear Power Plant
Nuclear Safety InspectionThe World Association of Nuclear Operators (WANO) is performing a safety inspection of Hanbit Nuclear Power Plant from Nov. 13 to 27. The inspection team consisting of...
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Many Auto Parts Suppliers to Hyundai Motors Fail ISO 26262 Tests
Substandard Auto PartsMost of the auto parts manufacturers working with the Hyundai Motor Group failed their ISO 26262 functional safety tests that the group carried out between May and September of...
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Supreme Court Confirms Legality of Ssangyong Motors Employee Layoffs
Labor Dispute RulingThe Supreme Court ruled that Ssangyong Motors’ recent layoffs were legal based on the judgment that the company’s crisis at that time was structural, not temporary, and that the...
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Novel Platform Technologies Decorated with 2x the Participants as Last Year
Samsung Developer Conference 2014Samsung Electronics held the second annual Samsung Developers Conference in San Francisco from Nov. 11 to 13 (local time), and unveiled a variety of new platform and...
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