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Wednesday, August 23, 2017

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Samsung Electronics posted a record high of 40.9% share in Latin American smartphone market share in the second quarter of this year.

Led by Low-priced Smartphones

22 August 2017 - 5:00pm
Cho Jin-young

It has been found that Samsung Electronics increased its Latin American smartphone market share by 6.7 percentage points year on year to a record high of 40.9% in the second quarter of this year. Its total shipments increased 27% in the market during the period, led by the 2016 Galaxy J series.

LG Electronics came in second with a market share of 10.1%. Its shipments fell 5% and its market share decreased by 1.5 percentage points from a year ago. At present, LG Electronics is focusing on products in the medium price range, such as K4 and K10, in Latin America.

During the same...

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O-film's fingerprint recognition module for smartphones (Source: O-film).

Posing Threat to Korean Firms

22 August 2017 - 5:00pm
Michael Herh

O-film, a Chinese smartphone component maker, ranked first in fingerprint recognition module market shares in the world last year. The company achieved a rare feat thanks to a spike in its fingerprint recognition modules to Huawei and other Chinese smartphone makers. Its total sales which had amounted to 3 trillion won (US$2.7 billion) in 2015 exceeded 4 trillion won (US$3.6 billion) last year thanks to the growth of its fingerprint recognition module business.

Chinese smartphone parts makers are growing rapidly. Chinese smartphones such as Huawei, Oppo, and Vivo began to grow while...

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General Motors (GM) launched a US$5,000 small new energy vehicle named the Baojun E100 which does not reveal its identity.

Foreign Brand Use Prohibited

22 August 2017 - 5:00pm
Jung Min-hee

Chinese authorities began to take steps to prevent foreign brands from being exposed in the Chinese electric car market.

China's National Development and Reform Commission recently rejected an application by an electric vehicle joint venture between Volkswagen and JAC to use SEAT, the name of Volkswagen’s subsidiary in Spain, the Financial Times (FT) reported on August 20 (local time).

"The commission’s decision is the first step in making automakers use local brand names," said one source about why the decision was made.

In addition, some commented that it was a clear...

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Samsung Bioepis and Japan's Takeda Pharmaceutical will co-fund and collaboratively develop innovative therapies rather than transferring new candidate materials or technologies.

Milestone for Biopharma Development

22 August 2017 - 5:00pm
Choi Mun-hee

Samsung Bioepis Co., a biopharmaceutical affiliate of Samsung, announced on August 21 it has entered into a strategic collaboration agreement with Japan's Takeda Pharmaceutical Co., the largest pharmaceutical company in Asia, to jointly develop novel biologic drugs.

The latest agreement is to create a synergy between Samsung Bioepis’ biologics development platform and technologies and Takeda’s extensive knowledge and expertise in drug development. Under the agreement, the two companies will collaboratively work on the whole process of new material searching, clinical trial,...

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The US auto industry is strongly demanding the revision of the Korea-US Free Trade Agreement (FTA).

Claiming ‘High Import Barrier’

22 August 2017 - 4:45pm
Jung Min-hee

The US auto industry is strongly demanding the revision of the Korea-US Free Trade Agreement (FTA). Both Korea and the US will start discussion on the revision of the agreement on FTA revision on a full scale on August 22.

According to the automobile industry on August 21, the US American Automotive Policy Council (AAPC) focused on trade deficits with Korea in the automobile industry in a report titled 'significant Trade Deficit' in May. The AAPC is a group of the Big 3 American automakers -- General Motors (GM), Ford and FCA (Fiat-Chrysler).

The AAPC analyzed that the trade...

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South Korea's largest bitcoin exchange, Bithumb, posted 2.6 trillion won (US$2.28 billion) in daily trading volume on July 19.

Reaching Record High

22 August 2017 - 4:30pm
Yoon Yung Sil

South Korea's largest bitcoin exchange, Bithumb, announced on August 21 that it posted 2.6 trillion won (US$2.28 billion) in daily trading volume on the 19th, reaching a record high.

The figure is larger than 2.43 trillion won (US$2.13 billion) of the daily trading volume of the KODAQ market on the 18th.

Bithumb's trading volume recorded at 1.2 trillion won (US$1.05 billion) on the 9th, surpassing the 1 trillion won (US$877.58 million) mark. It surpassed the 2 trillion won (US$1.76 billion) mark again in 10 days after...

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Approximately 140 Bithumb members are planning to file a class action suit against the largest bitcoin exchange in Korea within this year.

Class Action

22 August 2017 - 4:30pm
Jung Suk-yee

It has been found that approximately 140 Bithumb members are planning to file a class action suit against Bithumb within this year. “We recently appointed a law firm and decided to file the first suit before the end of this year,” they explained, adding, “More litigation can follow down the road depending on the number of victims.”

The most controversial part is likely to be whether there is any causality between the personal information leakage attributable to the hacked Bithum employee PC and their pecuniary loss estimated at four billion won or so in total. At present, the...

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The South Korean and Australian economies can get into trouble if economic tensions rise between the U.S. and China.

Trade War between U.S. and China

22 August 2017 - 4:30pm
Jung Suk-yee

The US-based think tank Conference Board recently said that the added value the U.S. obtains by exporting to China accounts for 0.7% of its GDP and the added value China obtains by exporting to the U.S. accounts for 3% of its GDP. It also mentioned that the added values the EU and Japan obtain by exporting to China account for 1.6% and 2.1% of their GDPs, respectively.

The think tank remarked that a trade war between the United States and China is likely to have a greater negative effect on China as shown by the figures and yet such a war may cause U.S. consumers to suffer to a...

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South Korea’s President Moon Jae-in (left) shakes hands with Russian President Vladimir Putin at the G-20 summit in Hamburg Germany on July 9, 2017.

Another Axis

22 August 2017 - 4:00pm
Jung Suk-yee

The South Korean government established the Presidential Northern Economic Cooperation Committee for more economic cooperation with such countries as Russia.

On August 21, the South Korea government held a cabinet meeting and adopted a Presidential decree on the establishment and management of the committee. The roles of the committee include the expansion of cooperation with Eurasian and Northeast Asian countries in such fields as energy, transportation and logistics.

The committee is expected to be headed by the ruling Minjoo Party lawmaker Song Young-gil, who visited...

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The price of Bitcoin cash (BCH) surpassed US$1,000 (1.14 million won) on August 19.

Led by Korea

22 August 2017 - 4:00pm
Yoon Yung Sil

The price of Bitcoin cash (BCH), an offshoot of the legacy Bitcoin blockchain, ​surpassed US$1,000 (1.14 million won) on August 19, reaching another record high. This was due to the surge in BCH’s mining profitability and high trade volume in South Korea.

According to Coin Market Cap, BCH touched a high of US$1091.97 on July 19, up more than 45 percent. Its price increased by nearly 419 percent in 19 days after BCH was traded at US$210.38 (239,728 won) on July 1 for the first time.

The price of BCH, which spent the time of coexistence with Bitcoin for two weeks in the market...

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