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Tech Developed to Prevent Desertification with Genetically- modified Sweet...
Prevention of DesertificationA research team led by Dr. Kwak Sang-soo at the Korea Research Institute of Bioscience & Biotechnology is receiving a lot of attention with their original research that...
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Korea's List of #1 Items Increases to 65 in 2013, Ranking 12th in Global...
Global #1 Export ItemsThe number of Korean export items that ranked first in world market share in 2013 was 65, increasing from 63 items in the previous year, which also boosted the country two steps...
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Merger between Hana Bank, Korea Exchange Bank Halted
Rocks Ahead for ConsolidationA court has ruled that the consolidation between Hana Bank and Korea Exchange Bank be halted until the end of June. As the result, Hana Financial Group’s plan to launch a...
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Quantitative Easing Spreading across Continents
Back-to-back QEsNo less than 13 countries have adopted quantitative easing since the beginning of this year. The Korea Center for International Finance (KCIF) warned this could lead to a relative...
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Daewoo Shipbuilding & Marine Engineering Wins LNG Carrier Order
US$200M LNG CarrierDaewoo Shipbuilding & Marine Engineering (DSME) announced on Feb. 4 that it won an LNG carrier building project worth US$200 million. The vessel has a size of approximately...
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Beacon Emerging as Tech to Represent Mobile Industry
Darling of Mobile EraA beacon service can be defined as a location-based service making use of low-power Bluetooth for short-range communication to provide various types of information for those around...
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Increasing Number of IoT Firms Expected to Change Hands
M&As in IoT IndustryM&As of Internet of Things (IoT) related firms by IT giants is heating up. Not only have Samsung Electronics, Apple, and Google been sniffing around, but Intel has also...
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Samsung Electronics to Start Mass Production of Industry’s First ePop Memory...
ePop MemorySamsung Electronics will start the mass production of the world’s first embedded package-on-package (ePoP) memory for smartphones. It combines DRAM, NAND flash, and a controller into one...
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Expat Business Community Comes Together to Share Solutions to Practical...
What Would You Do?In a case study seminar put together by the Korea Business Leaders' Alliance (KBLA) at the Grand Hyatt in Seoul on Feb. 5, a worker's strike, a factory fire, and a lack of...
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SK Innovation Loses Money for First Time in 37 Years
Profit LossSK Innovation has suffered an annual operating loss for the first time in 37 years. The company announced on Feb. 5 that its sales stood at 65.8757 trillion won (US$6.04 billion) last year,...
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Korea Fair Trade Commission Gives Conditional Approval to Business...
MS-Nokia Merger ApprovedThe Korea Fair Trade Commission (KFTC) announced on Feb. 5 that it accepted a consent decision to Microsoft regarding business consolidation between Microsoft and Nokia. An...
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Imported Cars Seize 18.1% Korean Market Share
Unusual GustNew registrations of imported automobiles reached highest number on record last month.On Feb. 5, the Korea Automobile Importers & Distributors Association (KAIDA) reported 19,930 units...
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POSCO Aiming to Record 2 Trillion Won in Net Profits This Year
2 Trillion Net Profits“Our net profits significantly declined last year, with one-off costs amounting to 1.2 trillion won [US$1.1 billion], but we will record a net profit of at least two trillion won...
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Russian Hackers Involved in Attack on Sony Pictures Entertainment
Not N. Korea but Russia?Jeffrey Carr, CEO of security firm Taia Global, maintained in a recent interview with Forbes that one or more Russian hackers were in Sony Pictures Entertainment’s network at...
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Finance Minister Insists Korean Economy is Experiencing Disinflation, Not...
Disinflation, not DeflationDeputy Prime Minster and Finance Minister Choi Kyung-hwan said on Feb. 5 that economic downside risks are still high due to the slowdown of the European and Chinese...
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Korean Conglomerates Continuing with Restructuring Programs
Restructuring as Core StrategyAccording to a recent survey by the Federation of Korean Industries, 17 out of 29 major business groups in Korea picked restructuring as the center of their business...
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Samsung to Manufacture Apple’s Next-gen Mobile Chips
Partner for A9 ChipsApple will reportedly tap its rival Samsung to produce mobile chips for its next-generation iPhone and iPad.Recode, a U.S.-based tech news site, reported on Feb. 4 (local time) that...
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Tech Developed to Make Lighter, Stronger, More Flexible Steel
Dream Material for CarsA Korean research team has successfully developed a technique to produce a new type of steel that is 50 percent stronger, better processed, and much lighter than conventional...
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Korean Fintech Industry in Nascent Stage
Shabby Korean FintechAccording to a report on the trend of the global financial technology (fintech) and its implications for Korea recently published by the KT Economics & Management Research...
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SKT, KT, LG U+ to Invest 6.5 Trillion Won in 5G, IoT
Investment ShiftThree local mobile carriers will make a full-scale investment this year in facilities for next-generation technologies for 5G, the Internet of Things (IoT), and GiGA Internet. According...
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