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Korea’s software still behind despite hardware prowess
South Korea’s software capacity such as artificial intelligence and smart cars has much to be desired due to the lack of personnel, investment and partnership among industries, experts said. According to data from Hyundai Research Institute, Korea’s AI technology is still at the 75 percent level compared to the nations holding the most advanced AI […]
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S. Korea's manufacturing domestic supply gains 1.1 percent in Q3
South Korea’s total domestic supply of manufacturing goods both locally produced and imported gained slightly in the third quarter on a gain in imported items, government data showed Thursday. The manufacturing domestic supply index gained 1.1 percent to stand at 109.2 from a year earlier during the July-September period, according to the data compiled by […]
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Seoul city starts providing allowances to young job seekers
The Seoul city government started a controversial program that provides allowances to thousands of young job seekers Wednesday, which it said aims to help people maintain basic living standards while they try to find work. The Seoul Metropolitan Government said it has selected a total of 3,000 applicants and will provide them with 500,000 won […]
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Seoul shares end lower after BOJ's disappointing decision
South Korean shares closed lower Friday as investors remained cautious following the disappointing stimulus measures made by the Bank of Japan. The Korean won rose against the U.S. dollar. After choppy trading, the benchmark Korea Composite Stock Price Index lost 4.91 points, or 0.24 percent, to 2,016.19. Trade volume recorded 361.38 million shares worth 4.96 […]
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LG Electronics to announce earnings guidance on July 8
THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. Analyst say that despite the lukewarm sales of […]
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Drop in Korea's exports to China extends to record streak in May
South Korea’s exports to China continued to shrink from a year earlier in May, tying the record streak of 11 months of decrease, industry data showed Thursday. Outbound shipments to China came to US$9.93 billion won last month, down 9.1 percent from the same month last year, according to the data from the Korea International […]
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VW offers apology with no mention of Korea
[THE INVESTOR] Volkswagen held its first annual shareholders meeting in Hanover, Germany, on June 22 (local time), the first in nine months since it became embroiled in the emissions rigging scandal. While the senior management and directors apologized and explained its ongoing recall plans in Germany and the US, there were no mention of compensatory […]
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Samsung’s smartphone share rises, Apple falls in Q1
Samsung Electronics saw its stake in the global smartphone market grow in the first quarter of this year from the previous quarter, helped by brisk sales of the Galaxy 7 series. The world’s largest smartphone maker had a 27.8 percent global market share in terms of shipment, according to industry tracker TrendForce. That reflected a […]
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Sales of minicars in Korea drop 14% in January
Sales of minicars in Korea dropped sharply in January from a year ago due to a continued fall in oil prices and local motorists’ penchant for bigger cars or sports utility vehicles, industry sources said Thursday. Last month, sales of minicars sank 14.1 percent from a year earlier despite carmakers’ aggressive marketing such as discounts […]
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Korea, Iran agree to maintain won-based settlement system
South Korea and Iran reached an agreement to maintain the won-based settlement system used for years for bilateral trade while seeking an alternative payment method that can expand economic ties between the two countries, Seoul officials said Tuesday. “We agreed that the current won-based settlement system has no problem in continuing to operate. The existing […]
