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Seoul Proposes Dialogue with Pyongyang
Southern InitiativeThe South Korean government sent a telephone message on Dec. 29 to Kim Yang-gon, secretary and director of the United Front Department of the North Korean Workers Party, and made an...
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Kumho Tires Resumes Plant Construction in Macon, Georgia
First Job after WorkoutKumho Tires (CEO Kim Chang-kyu) obtained approval from its creditors to resume the construction process of its manufacturing plant in Macon, Georgia. The company is planning to...
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Nearly 90% of Mobile Internet Users in Korea Connected via LTE
LTE UsersThe Korea Internet Security Agency (KISA) and the Ministry of Science, ICT and Future Planning conducted a survey on Internet usage on mobile devices, mobile Internet services usage, and...
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Korea Expected to Post Per-capita GNI of US$28,000 This Year
Per-capita GNIAccording to the Hyundai Research Institute, Korea’s per-capita gross national income (GNI) is estimated to be around US$28,000 at the end of this year, to show a 6.8 percent growth from...
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Seoul, Pyongyang Agreeing to Mend Fences?
Reconciling MoodSouth and North Korea are feeling each other out concerning a summit meeting on the historic 70th anniversary of national liberation. Some experts even predict that the leaders of the...
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Korean Government Concentrates on Economic Restructuring in 2015
Structural ReformDeputy Prime Minister Choi Kyung-hwan said in his New Year’s address that economic uncertainties are lingering in the form of interest rate hikes in the United States, a weak yen, and...
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Current Account Surplus This Year to Surpass 100 Billion US Dollars
New Landmark ExpectedSouth Korea’s current account surplus this year is expected to surpass US$100 billion (108.85 trillion won), recording an all-time high. This figure is also the 5th largest in the...
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Korea’s Technology Trade Grew 15% in 2013
Decreasing DeficitThe technology trade sector, including importing and exporting patents, inventions, and engineering, has continued to grow, seeing a nearly 15 percent increase. In particular,...
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KakaoPay Watches for Chance to be Leader in Mobile Payment Systems
KakaoPayAccording to the information technology and credit card industries on Dec. 31, KakaoPay has recently accelerated the expansion of its affiliated stores program. Kakao Pay at first saw a low...
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New Wooribank President to Focus on Privatization, Global Business
New CEONew Wooribank President Lee Kwang-ku promised at his inaugural ceremony on Dec. 30 that he would privatize the bank, enhance its fintech competitiveness, and expand overseas business based on...
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LG Electronics' New Strategic Products to be Unveiled at CES 2015
Strategic Home AppliancesLG Electronics will unveil a variety of new products at CES 2015 scheduled for Jan. 6-9 in Las Vegas.The exhibits include curved and flat UHD TVs from 40 to 105 inches that...
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AICD About to Acquire Ssangyong E&C
Ssangyong E&COn Dec. 29, the Seoul Central District Court allowed the conclusion of an MOU between Ssangyong Engineering & Construction and the Investment Corporation of Dubai (ICD), the...
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Korean Builders Put On Good Show Last Year
Overseas ConstructionThe Ministry of Land, Infrastructure, and Transport announced on Dec. 30 that Korean builders won overseas construction contracts worth US$66 billion combined in 2014 to break the...
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Samsung Electronics to Unveil Tizen TVs at CES 2015
Tizen TVSamsung Electronics announced on Jan. 1 that it will unveil Tizen smart TVs at CES 2015 scheduled for Jan. 6-9 in Las Vegas. The company is planning to load the operating system on every smart...
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Ssangyong Motor Sells 141,047 Cars in 2014
Global Sales RecordDespite reduced shipments to main overseas markets due to the unstable exchange rate, Ssangyong Motors surpassed the 140,000 unit mark in sales for two consecutive years. This trend...
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GM Korea Also Sets Domestic Sales Records in 2014
Record High SalesThis year has been a good one for Korean auto makers. GM Korea is the latest to report record-setting annual domestic sales of 154,381 vehicles in 2014, up 2.2 percent the previous...
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Korean Manufacturing Sector Stabilizes in December
Stable IndicatorsThe HSBC South Korea Purchasing Managers’ Index (PMI) – a composite indicator designed to provide a single-figure snapshot of the health of the manufacturing sector – posted a reading...
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Korean Gov't to Develop Large-scale Investment Promotion Program
30 Trillion WonDeputy Prime Minister and Minister of Strategy and Finance Choi Kyung-hwan said on Jan. 5 that he would come up with an investment promotion program worth 30 trillion won (US$27 billion)...
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Entrepreneurs Meet with President Park at New Year's
New Year’s GatheringThe Korea Chamber of Commerce and Industry held a New Year’s meeting on Jan. 5 at the COEX Convention Center located in Seoul. President Park Geun-hye and about 1,500 entrepreneurs,...
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Korean SMEs to Captivate CES 2015 with innovative Products
Innovative SMEsA number of Korean small and medium-sized enterprises (SMEs) are scheduled to participate in CES 2015 and show off Korea’s stance as a tech powerhouse.In particular, some firms like...
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