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New FTC Chairman Promises to Tackle Monopolies, Imbalance in Mobile, Platform...
Monopolies BewareNew Fair Trade Commission chairman Jung Jae-chan took office on Dec. 8. He said at his inaugural ceremony that the organization would promote innovation in various economic fields by...
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Korea Takes 5th Place at Doing Business 2015
Business EnvironmentKorea ranked fifth out of 189 countries at Doing Business 2015, a ranking that was released by the World Bank in October, to follow Singapore, New Zealand, Hong Kong, and Denmark....
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Hansae Fashion Worldwide Wins US$1 Billion Export Tower
Giant ODMHansae (President Lee Yong-baek) was awarded a US$1 billion export tower on the 51st Annual Trade Day.The company produces products by Original Design Manufacturing (ODM), not simply OEM,...
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Korean Gov't Investigates KAL Vice President Cho Hyun-ah for Violation of...
Aviation ViolationThe Ministry of Land, Infrastructure and Transport (MOLIT) is looking into whether or not Korean Airlines Vice President Cho Hyun-ah violated aviation law with controversial demands...
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Hanhwa Group Chairman Visits Iraq Site as First Move after Comeback
Chairman’s First MoveHanwha Group Chairman Kim Seung-youn chose a visit to an overseas construction site for his first official move after his comeback to management.From Dec. 7 to 9, Chairman Kim...
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Growing Competition in US$72 Billion Voice Recognition Market
Voice Recognition CompetitionGoogle, Apple, Microsoft, and Amazon are scrambling to develop voice recognition technology. The tech is receiving a lot of attention as a core method to control next-gen...
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ICT Exports Reach US$15.1 Billion in November, despite Weak Yen
Good ICT PerformanceKorea’s exports in the information and communications technology (ICT) sector hit all-time highs during January- November this year, helped by an increase in exports to China and...
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KakaoTalk Adds Secret Chat Mode, Decline Invites Features
Digital PrivacyThe introduction of a secret chat mode to KakaoTalk is drawing a lot of attention.Daum Kakao announced on Dec. 8 that it has added Secret Chat mode and Decline Invites features to better...
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Electrochemical Processing Method Improves Success Rate of Manufacturing OLED...
Better Success RateA Korean research team has successfully developed a technology to promise an ultra-high resolution OLED display, which are acknowledged to be next-gen displays, through a production...
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Hanwha Solar One, Hanwha Q Cells to be Consolidated
Increasing Synergy EffectThe Hanwha Group will merge Hanwha Solar One and Hanwha Q Cells, two of the subsidiaries of Hanwha Chemical, to reshape its photovoltaic power generation business. According to...
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National Pension Service to Increase Investment in Foreign Hospitals
Alternative InvestmentThe National Pension Service will hire a record number of asset and risk managers to increase its alternative investment in hedge funds, overseas REITs, and resource funds. At the...
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POSCO Counter Fires by Strengthening Investment in Chinese Market
Chinese CompetitionThe Chinese steel market is becoming a fierce battleground, as global steelmakers are trying to dominate the high-value-added steel sheet market in partnership with local...
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Household Loan Balance Showing Sharp Increase
Skyrocketing LoansThe household loan balance showed a record-high growth rate to reach a new high in October. The low interest rate trend as of late and recent relaxation of the loan-to-value (LTV) and...
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Capital Investment Drops by 5 Trillion Won This Year
Capital InvestmentThe Korea Finance Corporation conducted a survey on 3,064 Korean companies’ capital investment for this year and the next between Oct. 28 and Nov. 28, and announced on Dec. 9 that...
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Korea and Malaysia Promise Closer Economic Cooperation
Southeast Asian DiplomacyPresident Park Geun-hye and Malaysian Prime Minister Najib Razak had a summit meeting in Seoul on Dec. 10 and agreed on the central role of Korean corporations in a bullet...
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Samsung Electronics to Maintain Medical Device Business
Controversy EndingSamsung Electronics has decided to keep the medical device business. The business unit was not affected by its restructuring, which was implemented on Dec. 10.Previously, industry...
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Virtual Reality Headset Gear VR Sold Out One Day After Release in US
Zero Day Out of StockAccording to industry sources and Samsung Electronics on Dec. 10, Samsung's first virtual reality headset, the Gear VR Innovator Edition, was sold out only one day after its...
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Companies to File Lawsuits Disputing Meager Greenhouse Gas Emission Allowances
Heralded LawsuitsWith the implementation of the greenhouse gas emission trading system coming January of next year, opposition by companies is getting stronger.Industries argue that the emission...
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Social Commerce Companies Fiercely Fighting For Market Share
e-Commerce CompetitionIn May 2010, the social commerce market was created by TMON, and with the participation of Coupang and Wemakeprice in the same year, a full-scale competition has started in the...
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Xiaomi Facing Sales Suspension in India
On Hold in IndiaXiaomi Technology, which has rapidly grown to be the third-largest smartphone vendor in three years by imitating Apple, is likely to be dragged down by patent violations. The Chinese...
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