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Will Samsung's First Tizen Phone Capture Indian Market?
Trial Run in IndiaSamsung Electronics introduced its first Tizen-based smartphone to India on Jan. 14, after delaying its launch several times. The Z1, which is sold for 99,000 won (US$91) per unit, is...
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Samsung to Invest 50 Trillion Won Again This Year
50 Trillion InvestmentThe Samsung Group’s investment scale is appearing to reach approximately 50 trillion won (US$46.23 billion) this year, which is about the same amount of money compared to last...
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Google, Microsoft Offer Free Remote Desktop Apps
Remote Desktop SoftwareThe number of free remote desktop software programs is growing.According to industry sources on Jan. 13, Microsoft and Google are releasing free remote desktop software. So far,...
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Taiwan-controlled LCD Panel Maker in Danger of Shutdown without Further...
Cut and RunA Korean LCD panel maker is in danger of factory shutdowns after being sold to a foreign firm. There is growing criticism about companies that take technologies away from newly-purchased...
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Household Debt Soars to 37 Trillion Won in the 2014 Banking Sector
Skyrocketing Household DebtAccording to the Bank of Korea, the household loan balance increased by 37.3 trillion won year on year and reached 560.9 trillion won (US$518.7 billion) at the end of 2014 in...
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Financial Companies in Trouble because of Low Interest Rates
Unprecedented InterestThe financial sector’s concerns are growing over the continuation of low interest rates as President Park Geun-hye made remarks suggestive of key rate cut.According to the banking...
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Close to 20% of Young Employees Start Career with Instability
Youth Employment StructureAccording to Statistics Korea’s data, 761,000 persons aged between 15 and 29 had their first temporary job with a contract period of one year or less last year. The number is...
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Hyundai Heavy Industries to Restructure
Restructuring ShipbuildingHyundai Heavy Industries is working on a voluntary retirement of 1,500 non-rank-and-file office employees. This is the second time since 2012 that Hyundai Heavy Industries...
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Low Growth in National Economy More Imbalanced than Before
Imbalanced EconomyAccording to FnGuide, the 155 listed companies with a market consensus for the fourth quarter of last year are estimated to have recorded 27.5154 trillion won (US$25.3951 billion) in...
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Samgyang Food’s “Fire Noodles” Become Popular Overseas
Popular RamenSamyang Food’s Buldak Bokkeum Myun, which records monthly sales of 6 to 7 billion won (US$5.56 to 6.49 million), is getting popular not only in the domestic market but also globally.In...
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Bank of Korea Lowers GDP Growth Estimate for This Year
Lowered Growth RateThe Bank of Korea adjusted both the GDP growth and consumer price inflation estimates for this year downward. Concerns are growing over the possibility of deflation.The central bank...
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Korean Government Invests 100 Trillion Won in Future Growth Industries
Large Investment in FutureFive government agencies – the Financial Services Commission; Ministry of Science, ICT and Future Planning; Ministry of Trade, Industry and Energy; Korea Communications...
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Not All Wages Ordinary, Seoul Central District Court Finds
Ordinary WagesToday the Seoul Central District Court rendered a judgment denying back pay claims to the employees of Hyundai Motor Group. The Court based their decision on the assertion that regular...
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Number of Smart Factories in Korea to Increase to 10,000
Smart FactoriesThe Ministry of Trade, Industry and Energy will increase the number of smart factories to 1,000 this year while exporting self-sufficient energy island technology and renovating old...
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Government to Assist in Korean Firms through FTAs with Middle Eastern, Latin...
Expansion of Economic TerritoryThe Ministry of Trade, Industry and Energy announced on Jan. 15 that it would accelerate the penetration of the Latin American and Middle Eastern markets by making use of...
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KOSDAQ Market Cap Reaches New High
Reviving Tech MarketAccording to the Korea Exchange, the Korea Securities Dealers Automated Quotations (KOSDAQ) gained 1.26 percent from the previous trading session to close at 581.39 points on Jan....
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BlackRock Turns Positive about Korean Economy
Perspective on Korean EconomyBlackRock has given a positive outlook on the Korean economy, adding that macroeconomic conditions are likely to become favorable for it during the course of this year.Marc...
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Korean Gov't to Focus on Qualitative Growth of Software Industry
Promotion of Software IndustryThe Ministry of Science, ICT and Future Planning announced on Jan. 15 that it would increase the number of global software companies from 20 to 50 between this year and...
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SUV Market Grows 2x in Six Years
SUV PopularityLast year's sales of sports utility vehicles (SUVs) grew about two times in six years by exceeding 400,000 units.According to the automobile industry on Jan. 15, 407,880 SUVs were sold...
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Deficit of 4 Oil Refining Companies Likely to Exceed 2 Trillion Won
Oil Price DropAs international oil prices are decreasing, it is estimated that the four major domestic oil refining companies suffered more than 2 trillion won (US$1.8 billion) in operating losses in...
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