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More and More Koreans Opting for Foreign Web Services
Foreign Web ServicesThe number of Koreans using foreign Internet services increased significantly last year. According to Nielsen Korea, Facebook Messenger and Instagram were the two fastest-growing...
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Xiaomi’s Sales Increased 220% Last Year, Ranking 4th in the World
Frightful GrowthSales of Chinese smartphone giant Xiaomi, which is called the “imitation Apple,” increased over 220 percent last year from the previous year, expected to place fourth in the...
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Virtual Reality Market to Show Explosive Growth in 2015
Virtual Reality CompetitionSamsung Electronics has released Milk VR in the United States. The digital content service is for users of its virtual reality headset, the Gear VR. Milk VR provides a...
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Wemakeprice Submits Letter of Intent to Buy TMON
Social Commerce MoveOnline retail and payment industries that combine IT, including social commerce, online shopping, and financial technology (fintech), are rapidly growing. Since social commerce site...
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Samsung at CES 2015
NewsSamsung to Unveil Innovative Electronics at CES 2015Samsung will introduce its innovative electronics in a massive 2,600 square-meter booth at CES 2015. SUHD TV, a TV with the most advanced display...
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LG to Show off Brand New Products at CES 2015
LG at CES 2015LG announced plans to introduce its new products, including home appliances and mobile devices, at CES 2015.The company will display 500 products in its 2,044 square-meter booth with a...
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Negotiations with Foreign Companies Increase Concerns over Technology Leakage
Disposal of PantechPantech, which has anxiously searched for a purchaser, is currently under negotiation for disposal with many foreign companies.However, there are concerns over technology leakage...
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Seoul Needs to Induce Pyeongyang to Join International Financial Institutions
North Korean FinanceIt has been claimed that the Korean government should induce North Korea to join international financial institutions, bracing for possible changes in North Korea.According to the...
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FDI Hit Record High of US$19 Billion Last Year
China EffectThanks to the “China Effect,” the Foreign Direct Investment (FDI) into Korea hit a new high of US$19 billion (21.1 trillion won) last year. As China’s capital investment in new investment...
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Naver, Daum Kakao to Mount Challenges to Google, Apple, Amazon in E-commerce...
e-Commerce CompetitionNaver is actively seeking to strengthen its online payment system by revamping its organizational structure, which shows the company's willingness to enter the local e-commerce...
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Commercial Banks Line Up to Join Bank Wallet Kakao
Gaining MomentumIndustrial Bank Korea and Korea Post have both joined Bank Wallet Kakao services. As Citibank and Kyongnam Bank are also getting ready to join the services, it appears that Bank Wallet...
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New Domestic Drugs for Cancer, Obesity, Vaccines Greet Golden Age
Native Medicine EraThe domestic pharmaceutical industry achieved excellent results in the research and development sector last year, including the approval for sales of the 21st new domestic medicine...
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Industrial Production Decreased in November
Economic SlowdownThe Korea Development Institute (KDI), an economic policy think tank that was set up by the government, has officially admitted to a slowdown in the Korean economy.On Jan. 7, the KDI...
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BMW Continues to Take Lead in Imported Car Market
Six Year LeadBMW continued to take the lead again in the local import automobile market last year. However, it will become more difficult to predict the future, because the competition of Mercedes-Benz...
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Government Checks Security of National Infrastructure
Hacking DefenseGovernment organizations such as the Ministry of Science, ICT and Future Planning, the National Intelligence Service, and the Ministry of National Defense are looking into national IT...
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Cost of Ordinary Wage Issue 52 Trillion Won for Car Manufacturers
Enlarged Wage BurdensThe Korea Automobile Manufacturers Association announced on Jan. 7 that pending labor issues such as the scope of ordinary wages, direct employment of subcontractor workers, and...
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Global Smartphone Companies Focusing on India
Emerging Indian MarketIndia is emerging as a new El Dorado for smartphone manufacturers. According to industry sources, the Indian market accounted for 6.5 percent of the global total last year,...
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Korean Government to Put Brakes on Bad Practices Concerning Imported Cars
Braking AbnormalityPolicy measures to prevent a drain on car insurance caused by imported car drivers are put into force this year, while a team dedicated to the investigation of insurance fraud by...
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Drop in Oil Prices Boon to Korean Economy
Favorable Economic FactorsFive government research institutes – the Korea Development Institute, Korea Institute for Industrial Economics & Trade, Korea Institute of Finance, Korea Energy Economics...
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Government Nurtures Polyketone, Fuel Cells as Major Projects for Future
Future Growth EnginesThe Korean government has decided to foster the polyketone industry as a flagship project that will lead future growth engines. It has also been decided that multi-sided display...
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