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Sunday, January 21, 2018

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Banks will be required to go through an enhanced due diligence (EDD) process when cryptocurrency transactions are made by high risk customers who can run the risk of illegal transactions including money laundering.
Stricter Regulation
18 January 2018 - 9:45am
Banks are required to check the purpose of trading and the source of funds of cryptocurrency trading account holders in the future. They also need to share account information one another when...
Doosan Heavy Industries & Construction suffers deteriorating profitability due to the factors including the South Korean government’s nuclear phase-out policy.
Groundless Rumors?
18 January 2018 - 9:15am
On January 17, a local news outlet reported that Doosan Group is discussing the sale of Doosan Heavy Industries & Construction to focus more on Doosan Robotics and Doosan Bobcat after adjusting...
The Hyundai Motor union members’ achievements in the wage negotiation are smaller than in the previous years as the company faces now a crisis and the union’s tactics are no longer effective.  Hyundai Motor Company announced on January 16 that its employe
No Longer Effective Tactics
17 January 2018 - 12:00pm
The Hyundai Motor union members’ achievements in the wage negotiation are smaller than in the previous years as the company faces now a crisis and the union’s tactics are no longer effective. Hyundai...
Alibaba chairman Jack Ma will take part in the opening ceremony of the Pyeongchang Winter Olympics next month as Alibaba sponsors the Olympics to promote its cloud service at the global event
Jack Ma’s Dream
17 January 2018 - 11:45am
Alibaba’s UC browser is currently the most popular mobile Web browser in India and Indonesia, according to industry sources. In addition, Alibaba recently opened a new office in Melbourne, Australia...
16 of the China’s top 20 export items were IT-related products or parts while only 10 of the top 20 items exported by Korea cut across the IT sector.
China’s Tech Competitiveness
17 January 2018 - 11:30am
China is cementing its position as an information technology (IT) powerhouse. Experts point out that China is close to overtaking Korea by showing high competitiveness not only in products such as...
Samsung Electronics displayed its latest QLED TVs in the invitation-only booth dubbed Q Lounge in order to reportedly to prevent Chinese companies from copying its products.
Facing Challenges
17 January 2018 - 11:15am
At this year’s CES, Samsung Electronics ran a booth not open to the public. Samsung Electronics displayed its latest QLED TVs in the invitation-only booth dubbed Q Lounge. The purpose of the...
A research team led by Professor Oh Deok-kun of Konkuk University developed a substance similar to lipid regulating agents in human body using microbial enzyme.
Microbial Enzyme Drug for Diabetes
17 January 2018 - 11:00am
The Ministry of Science and ICT announced on January 16 that a research team led by Professor Oh Deok-kun of Konkuk University developed a substance similar to lipid regulating agents in human body...
Beef had the highest amount of imports with US$2.46 billion (2.62 trillion won), followed by pork with US$1.64 billion (1.74 trillion won) last year.
Increasing Food Import
17 January 2018 - 10:45am
South Korea imported more than US$25 billion (27 trillion won) worth of food last year, up 7 percent from a year earlier. The biggest shipment in monetary terms coming from the United States and in...
The total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier.
Thanks to Cryptocurrency Frenzy
17 January 2018 - 10:30am
Due to a frenzy in the crypto investment market, there was a sudden rise in demand for high-performance graphics cards, which are used to mine digital currencies. According to price comparison site...
Foreign limited liability companies (LLCs) operating in South Korea are expected to disclose information on their sales or profits from 2020 fiscal year.
Subject to Audit
17 January 2018 - 9:45am
A limited liability company (LLC) with a certain amount of sales and a considerable number of employees is required to conduct an external audit from the 2020 fiscal year. Accordingly, foreign LLCs...
Korea’s ICT exports totaled US$197.6 billion and ICT imports were US$102.1 billion so the ICT sector recorded a surplus of US$95.6 billion last year.
ICT Export in 2017
17 January 2018 - 9:45am
Last year, Korea’s ICT exports reached the US$190 billion level for the first time and an all-time high by renewing the highest monthly record for the 11th consecutive month. According to the...
Upbit ranked first in the world in terms of 24-hour crpytocurrency trading volumes with 4.92 trillion won (US$4.62 billion),
Proving Overheated Speculation
17 January 2018 - 9:30am
South Korea’s largest cryptocurrency exchange Upbit disclosed its amount of daily transactions on January 16 for the first time. CoinMarketCap, arguably the most prominent global index of...

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