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Korea's Q1 E-commerce Sales Jump Nearly 20 % [Jun 06, 2008]
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Korea's e-commerce sales jumped almost 20 percent on-year in the
first quarter of this year thanks mainly to a spike in
business-to-business (B2B) deals, a government report showed Friday
(June 6).
Online transactions amounted to 138.39 trillion won ($135.4
billion) in the January-March ...
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Korea's Retail Sales Up 10.9% In April [Jun 04, 2008]
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Retail sales in
Korea grew 10.9 percent in April from a year earlier as consumers
paid more for food and car fuel amid soaring crude oil and
commodity prices, a report showed Wednesday (June 4).
Korea's retail sales amounted to 20.8 trillion won ($20.4 billion)
in April, compared with 18.7 ...
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Doosan Heavy Wins Power Equipment Deals Worth 1.14 Tril. Won [Jun 04, 2008]
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Doosan Heavy Industries & Construction Co., Korea's largest
power equipment maker, said Wednesday (June 4) that it has received
two orders worth a combined 1.14 trillion won ($1.1 billion) for
equipment to build plants in Korea and Thailand.
The company won a 834 billion won deal from ...
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Hyundai Heavy, Daewoo Shipbuilding Win Orders Worth $4.9 Bil. [Jun 04, 2008]
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Hyundai Heavy Industries Co. and Daewoo Shipbuilding &
Marine Engineering Co. said Wednesday (June 4) that they have won a
combined US$4.9 billion worth of deals in the past week to build 30
vessels, including oil tankers and bulk carriers.
During an international shipping exhibition ...
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Samsung Electro-Mechanics To Supply Mobile Modules To Intel [Jun 04, 2008]
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Korean electronic parts maker Samsung Electro-Mechanics Co. said
Wednesday (June 4) it has signed a deal with Intel Corp. to provide
wireless modules for use in mobile devices from the U.S.
company.
The deal calls for Samsung to provide various modules, including
WiMAX and WiBro modules, to ...
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Korea To Seek Tax Cuts To Boost Economy: Minister [Jun 04, 2008]
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The current difficulties facing Korea's economy stem mainly from
rising oil prices, the nation's top economic policymaker said
Wednesday (June 4), adding that the government will push for tax
cuts and other stimulus measures aimed at boosting domestic
demand.
"Consumer prices rose for a ...
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Korea Plans To Cut Corporate Taxes To Spur Economy [Jun 03, 2008]
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Korea plans to lower corporate taxes earlier than scheduled in a
bid to spur economic growth by bolstering investment and helping
create more jobs, the government said Tuesday (June 3).
The Ministry of Strategy and Finance said that it will cut the
maximum corporate tax rate from the current ...
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Korea To Double Efforts To Tame Inflation: Official [Jun 03, 2008]
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Korea will make every possible effort to tame inflation, a
senior financial policymaker said Tuesday (June 3), raising
expectations that the government might change its stance on a weak
currency to lower inflationary pressure.
"Rising oil prices are causing difficulties in ...
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Korea's May Auto Sales Gain 5% On Exports [Jun 02, 2008]
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Korean auto sales rose in May led by Hyundai Motor Co. and its
affiliate Kia Motors Corp., despite soaring oil prices, as demand
from emerging markets boosted exports.
Overall, sales of the country's five carmakers -- including GM
Daewoo Auto & Technology Co., Renault Samsung Motor Co. ...
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Korea's Inflation Rate Hits 7-year High In May [Jun 02, 2008]
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Korea's consumer prices grew at the fastest pace in seven years
in May on higher prices of energy and other commodities, breaching
the central bank's inflation target range for a sixth straight
month, a government report showed Monday (June 2).
The consumer price index jumped 4.9 percent ...
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Korean Economy Grows 0.8% In 1st Quarter [Jun 02, 2008]
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The Korean economy expanded a revised 0.8 percent in the first
quarter from three months earlier, the slowest quarterly growth
since the fourth quarter of 2006, as facility investment dipped
amid slowing domestic demand, the central bank said Monday (June
2).
The growth of the country's ...
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Ship Exports Help Korea Post $1 Billion Trade Surplus In May [Jun 02, 2008]
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A record surge in exports of ships in May helped Korea post its
first monthly trade surplus in six months, a government report
showed Monday (June 2).
The Ministry of Knowledge Economy said exports rose 27.2 percent
on-year to $39.49 billion last month, while imports jumped 28.8
percent to ...
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Korea's H2 Domestic Car Sales Expected To Rise 6.8% [Jun 01, 2008]
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Domestic sales by Korean carmakers are expected to increase
nearly 7 percent in the second half despite unfavorable conditions
such as sky-high oil prices, a private think tank said Sunday (June
1).
Total sales by industry leader Hyundai Motor Co. and four other
players are likely to climb ...
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How To Start A Business In Korea [May 30, 2008]
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So you want to do business in Korea?
There is a lot of paperwork involved, but it is not impossible.
While until just a few years ago, foreign investors had to have a
Korean partner in whose name the business was, this is no longer
the case. If you have the capital and the dream, you too can ...
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Seoul To Factor Commodity Prices Into Currency Policy: Official [May 30, 2008]
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Soaring commodity prices are emerging as an "important factor"
in Korea's foreign exchange policy, a senior policymaker said
Friday (May 30), hinting the government may put taming inflation
before boosting the economy with a weak currency.
"From the foreign exchange authorities' perspective, ...
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Hyundai Heavy, Its Unit To Buy Brokerage Firm [May 30, 2008]
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Hyundai Heavy Industries Co., the world's largest shipyard, said
Friday (May 30) that it has signed an initial deal to take over a
brokerage firm and buy a stake in an asset manager from local
conglomerate CJ Group.
In a statement, Hyundai Heavy Industries said it and its unit --
Hyundai ...
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Korea's Industrial Output Grows 10.5% In April [May 30, 2008]
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Korea's industrial output continued its double-digit growth in
April despite lingering worries the economy is slowing down amid
weak domestic demand and rising raw material prices, a report
showed Friday (May 30).
Industrial production expanded 10.5 percent last month from a
year earlier and ...
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Korea To Fully Open Market To U.S. Beef, Tighten Quarantine ... [May 29, 2008]
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Korea will
fully open its market to most U.S. beef cuts while taking steps to
strengthen quarantine control to prevent the import of banned
products, a senior government official said Thursday (May 29).
Agriculture Minister Chung Woon-chun said he requested the posting
of the new sanitary ...
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Korean, U.S. Firms To Set Up Solar Panel Joint Venture [May 29, 2008]
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A local parts manufacturer signed a memorandum of understanding
with a U.S. company to build solar panels in South Korea, the
government said Thursday (May 29).
The $22 million deal between Korea Parts & Fasteners Co. (KPF)
and Plextronics, Inc. is aimed at building a production line ...
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GE Sees LG Electronics As Potential Buyer Of Appliance Unit [May 28, 2008]
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The chief executive of General Electric (GE) Co., the world's
largest industrial conglomerate by market value, on Wednesday (May
28) named LG Electronics Co. as a leading candidate to buy the U.S.
company's appliance division.
In a breakfast meeting with business leaders in Seoul, ...
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