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Korean SMEs under Price Cut Pressure due to Weak Yen
SME Triple DistressIt has been found that Korean small and midsize enterprises (SMEs) exporting to Japan are not only suffering from a decrease in profitability due to the weak yen but also under...
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Samsung to Unveil Secret Weapon at 2014 International CES
Quantum DotsSamsung is reportedly planning to unveil its secret weapon, the V1 Bomb, a high-definition TV called Quantum-dot LED TV (QLED TV) at the 2014 International CES, the world’s biggest...
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Stay at Lotte, get Swarovski Tumbler
Winter DealThe Lotte Hotel in Seoul announced on January 5 that it is promoting a Winter Break package that will run until February 28. The package will give the first 600 guests a free crystal...
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Alarming Signs from Self-employed as Debt Grows
SME SignsThe debt of self-employed businesspeople increased by 9 percent last year, adding to the total amount of bank loans of 100 trillion won (US$94 billion) last year. According to figures...
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Korea’s FX Reserve at 6 Month Historic High
Foreign ExchangeThe Bank of Korea reported that at the end of last month that its foreign exchange reserve was US$346.5 billion, 1.5 billion dollars more than the month before. As of November 2013,...
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41 Trillion Won in Corporate Bonds Mature in 2014
Liquidity CrisisAn increasing number of companies are struggling to procure cash. In particular, a lot of construction and shipping companies’ corporate bonds are scheduled to mature in January and...
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Faith Shaken, Rebuilding in Samsung Electronics
Earnings ShockSamsung Electronics’ sales revenue for the fourth quarter of 2013 was 8.3 trillion won (US$7.8 billion), down 18 percent from the previous quarter.Samsung Electronics announced yesterday...
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Korea’s Scholarly Past Resurrected with Rebirth of Hyanggyo and Seowon
Heritage RenewalThe Cultural Heritage Administration (CHA) has come up with a plan to effectively manage and revamp the historical educational sites known as Hyanggyo and Seowon.Hyanggyo and Seowon are...
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Sound of One Hand Clapping Echoes as President Park Delivers Address
Presidential AddressPresident Park Geun-hye made her new year’s speech, but only the sound of one hand clapping was heard, as the opposition remained uninterested. The ruling Saenuri party and...
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Number of Japanese Travelers Dwindles, Hurting Local Travel Industry
Tourism SufferingDwindling numbers of Japanese visitors have hurt the local travel and retail industry, particularly Myongdong, which has been a popular destination for Japanese tourists. The number of...
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LG to Release G Flex in US in First Half of 2014
G Flex in USLG Electronics announced on January 7 that its first curved display smartphone will be available in the US market in the first half of this year. The G Flex will be launched in partnership...
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Samsung, LG Aim to Dominate Next-gen Market with Flexible TVs
Flexible TVs at CES 2014Samsung and LG Electronics unveiled prototypes of their Flexible TVs at CES 2014, the world’s largest consumer electronics show in Las Vegas. Samsung showcased an 85-inch...
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Import Car Market Recorded 20% Growth Last Year
Annual Import Car SalesThe Korea Automobile Importers and Distributors Association announced on January 7 that the number of newly-registered import cars was 12,405 in December of last year, a 10.5%...
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Korea’s Household Debt Surged to Record Highs for 7 Consecutive Months
Ballooning Household DebtThe nation’s household debt has already exceeded 1 quadrillion won, or 1,000 trillion won (US$935 billion). According to data on commercial banks and savings institutions’...
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Kia Motors Unveils Advanced Driving Tech at CES 2014
Smart Car TechKia Motors unveiled its UVO EV e-Service on January 7 (local time) at the Consumer Electronics Show (CES) 2014. The new technology is the upgraded version of its automobile telematics...
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Ministry of Strategy Categorizes Yen as Official Threat
Yen ThreatThe yen-dollar exchange rate is reciprocally fueling the downward sprawl of yen, potentially hurting the Korean economy.The Ministry of Strategy and Finance reported in the latest edition of...
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Samsung, LG Show Different Techs for Large Displays at CES 2014
W-OLED vs. RGB-OLED Some in the industry think that Samsung showcased its 85-inch flexible LCD TV at CES 2014 because the Korean company hasn’t been able to mass-produce OLED TVs, stemming from...
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Linux-based Platform Coming to Low-cost Smartphones, Tablets, Smart TVs
Firefox OSAccording to industry sources on January 7, Mozilla is distributing a tablet version of Firefox OS, and will release a beta version of Firefox for smart TVs within the year.Mozilla forged a...
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Samsung, Apple, Google Vying for Leadership in Smart Car Market
Smart Car MarketGoogle, Apple, and Samsung Electronics are shifting the focus of their competition to the smart car industry. The Big Three IT companies and automakers unveiled a series of innovative...
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IT Support Center to be Established in Singapore This Year
IT Cooperation with SingaporeMinister of Science, ICT, and Future Planning Choi Moon-ki announced that the Korean government will set up an IT support center in Singapore within this year. The minister...
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