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Korean Companies Subject to 1.6 Trillion Won Fines Abroad for Cartel...
Cartel ActivitiesKorean companies have been subject to fines of 1.6605 trillion won (US$1.4994 billion) since 2010 for business collusion.The U.S. authorities imposed a fine of US$32 million on Samsung...
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Conflict between Uber, Taxi Drivers is Simmering
Covert UberUber, which has aroused controversy around the world for its quasi-taxi service, is penetrating the Korean market in a roundabout way.Since its debut in Korea in August this year, Uber has...
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Twitter Chairman Hosts Q&A Session with Koreans via Twitter
Twitter Chairman Q&ATwitter co-founder and Chairman Jack Dorsey, who visited Korea for the first time, had a live one-hour Q&A session with Korean users via Twitter on Nov. 18.The Chairman...
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Three-way Battle in Securing Mobile Application Ecosystems
Wearable App CompetitionGoogle's Android Wear and the Tizen operating system (OS) are waging a fierce battle with each other to secure an application ecosystem for wearable devices. With Apple's iOS...
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Samsung's NAND Flash Market Share Drops below 30% in Q3
Declining Market ShareKorean semiconductor companies are fiercely competing with U.S. and Japanese firms in the NAND flash market. In the third quarter, SK Hynix was able to reach a double-digit market...
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Merger Failure Expected to Impact Reform, Management Succession of Samsung Group
Merger MissBusiness consolidation between Samsung Heavy Industries and Samsung Engineering has hit a wall, impeding the business restructuring of the Samsung Group that has continued for about a...
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Number of Hybrid Car Subsidies for Next Year Slashed by 7.5 Billion Won
Green Car ControversyThe number of beneficiaries of government subsidies for purchasing hybrid cars will be cut from 40,000 to 32,500 next year.The Environment and Labor Committee of the National...
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Government Pension Fund Managers at Hyundai Securities Suspected of Embezzlement
Pension Fund ManagementA highly-extensive audit is about to be launched regarding the entrusted management of pension funds in the wake of a corruption scandal at Hyundai Securities.Recently, ruling...
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CJ CGV Shooting for Global #1 Entertainment Network
Entertainment PlatformCJ CGV started its overseas business in Shanghai in October 2006. On Nov. 14 of this year, it opened its 34th movie theater in Yancheng. Also, it opened another one in Los Angeles...
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Small Life Insurance Firms Suffer Deepening Polarization
Insurance Industry PolarizationThe polarization of the life insurance industry is worsening. While the performance of large insurance companies such as Samsung and Hanwha Life Insurance are...
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Daum Kakao Mulling over Sale of Money Market Fund
Expansion to MMFA Daum Kakao executive said on Nov. 19 that his company was considering a money market fund (MMF) as its new fintech business model to follow the Kakao Pay payment service and Bank...
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Korean Content Praised at International Content Conference
Another Korean WaveGlobal content business people that participated in the International Content Conference (DICON) 2014 which opened on Nov. 18 at Seoul's COEX convention center, highly appraised the...
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GS Shop Launches Global Delivery Service
Worldwide ReachThis month, GS Shop became the first home shopping company to deliver its products to international customers by launching a “global delivery service.” Delivery is possible to 103...
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Samsung SDS Coveted by Increasing Numbers of Stock Market Investors
Frightful ScamperOn Nov. 20, Samsung SDS gained 7.28 percent from the previous trading session in KOSPI to close at 398,000 won (US$357) per share. The stock price reached a new high upon the opening...
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Shinhan Bank Launches China Plus Foreign Currency Fixed Deposit
Direct Won-Yuan TradeShinhan Bank is going to launch the China Plus Foreign Currency (yuan) Fixed Deposit to diversify individual clients’ investments and encourage trade in the yuan for corporate...
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Hana Bank Acquires Permission to Open Consumer Bank in Vietnam
Hana Bank in VietnamHana Bank received preliminary authorization to establish a branch in Ho Chi Min City from the State Bank of Vietnam on Nov. 20 after a seven years of trying to enter the Vietnamese...
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National Pension Service Establishes Global Platform for More Investment Abroad
Pension Investment OverseasNational Pension Service Chairman Choi Kwang said on Nov. 20 that his organization is working to diversify its investment destinations around the world.“The national pension...
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Hyundai Motors Stockholder Accuses Chairman Chung Mong-koo of Breach of Duty
Chairman AccusedChung Mong-koo, chairman of Hyundai Motors, was accused by a minority shareholder in relation with the controversial purchase of the Korean Electric Power Corporation (KEPCO)...
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BC Card Launches Simple Payment Service PayAll Needing No App, no Active X
Active X Not RequiredDirect purchases on overseas websites are becoming more common, and various simple payment services are emerging. With the simple payment market rapidly changing, a newly-launched...
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Banks Paid Huge Dividends to Foreign Shareholders Despite Performance...
Bank DividendsThe six financial holding companies of KB, Woori, Shinhan, Hana, SC, and Citi paid foreign shareholders cash dividends worth a total of 2.8283 trillion won (US$2.5398) combined between...
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