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Friday, December 15, 2017

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30 December 2011 - 3:10am

Aport city, Gunsan, opened to foreign vessels on May 1, 1899 according to the Ganghwa Island Treaty in 1879 following Busan, Wonsan, Incheon, Jinnampo and Masan. More than half of the population in Gunsan was Japanese at the time, with the city becoming an economic center for Japanese business people there. Most of the downtown area around the inner port was originally a residential area for Japanese people, with 20% of buildings in the old downtown area built during the colonial administration of imperial Japan. The majority of these buildings remain.

Gunsan is a city with many...

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News

30 December 2011 - 3:07am

The winter in Korea is cold. As such, it is a season in which we are prone to huddle up and stay locked indoors. However, we would like to introduce a travel destination in a suburb of Seoul where we you can head out to without any special preparation. Asan City belongs to South Chungcheong Province, and faces the Bay of Asan and Sabgyocheon, serving as a passage for inland areas. Since a subway line exists from Seoul to Asan, it is also easily accessible. Let’s depart to Asan!.

Pinnacleland

Pinnacleland opened following 10 years of preparation and is a well-arranged...

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News

30 December 2011 - 3:00am

Having the landmark mountain of the same name Taebaek in its boundary, Taebaek City is at the center of the Baekdu Mountain Range stretching all the way from Mt. Baekdu in North Korea to Mt. Jiri in the South. At the same time, it is the riverhead of water. The stream flowing from the Samsuryeong watershed located in the range diverges toward the Han River to the north, Nakdong to the south and Oshipcheon to the east. Let’s take a trip to appreciate the beautiful cityscape of the city along with mountain and the serene flow of the water.

Mt. Maebong’s Snowy Scenery with Stark...

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News

30 December 2011 - 2:57am

The Korea National Oil Corporation (KNOC, CEO Kang Yeong-won) has taken over three production and exploration assets from American companies in tandem with Samsung C&T and STX Energy. The combined reserves add up to 80 million barrels. With the acquisitions costing US$973 million in total, Korea has succeeded in raising its ratio of petroleum self-sufficiency from 10.8% to 11.2%. The state-run oil company invested US$190 million to secure 14 million barrels of reserves.

Momentum for Private-sector Players to Participate in Petroleum Development Projects

According to...

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News

30 December 2011 - 2:56am

Dongsung Pharmaceuticals (CEO Lee Yang-gu) was awarded the “5 Million-dollar Export Tower” at the 48th trade day ceremony held at the COEX on December 12. The figure is just the export volume by June, 2011. President Lee Yang-gu received the award from the Ministry of Knowledge Economy for his outstanding contribution.

Dongsung Pharmaceuticals made a noticeable growth in overseas markets, increasing exports of Bongdok cosmetics’ A.C. Care, which was launched in 2010. A.C. Care is exported to nine countries the US, China, Japan, Canada, Taiwan, Tailand, Vietnam, the UK and New...

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News

30 December 2011 - 2:55am

SK Engineering & Construction (SK E&C) announced that it held an inauguration ceremony for the remodeled Myoung Ryun Orphanage in Chunggye-dong, Euiwang City, Gyunggi Province on November 29. SK E&C changed the decrepit orphanage into a state-of-the-art energy saving building through remodeling construction involving more than twenty eco-friendly energy technologies. The project took five months and cost 500 million won in total, including 200 million won for investment in eco-friendliness and energy saving.

Agrees to donate eco-friendly social welfare facilities...

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Kazakhstan Interview I

30 December 2011 - 12:15am

December 16, 2011 marks 20 years since Kazakhstan gained its independence from the Soviet Union. A nation with a wealth of natural resources and dedicated, hard-working people, it is quickly arising as a nation of significant economic growth. This coming January marks 20 years since Kazakhstan and Korea began bilateral relations. Today, 20 years on, the two countries continue to build steady, ongoing strong ties.

His Excellency Ambassador Darkhan Berdaliyev of the Republic of Kazakhstan to Korea provided time in his busy schedule to give an interview to BusinessKorea in order to...

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Kazakhstan Interview II

30 December 2011 - 12:00am

Q: Major Korean companies such as Samsung and LG have recently been participating in several of your national projects, the scale of which is incredible. Please tell us about the background and meaning of such cooperation. Furth-ermore, what do you think are Korea’s strengths and advantages?

A: I believe that the advancement of technologies and the high quality of products has made Korea one of the most wishful business partners in the world. In addition, the reputation and the world-leading positions of South Korean companies such as Samsung, LG, Hyundai, KIA, STX, SK Group, and...

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News

29 December 2011 - 11:48pm

The Korea Eximbank and the Philip-pines’ Department of Agriculture recently signed a Memorandum of Understanding for the construction of a multipurpose dam on the Jalaur River in the southern Philippine province of Iloilo. This bilateral agreement is expected to provide Korean companies assistance in expanding in the Philippines.

The Korea Eximbank said that on November 21 last year, Seoul and Manila signed an agreement on providing economic development cooperation funds (EDCF) for construction of the Jalaur River multi-purpose dam. Kim Yong-hwan, chairman of Korea Ex-imbank, and...

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News

29 December 2011 - 11:42pm

The 10 major corporate groups of Korea showed declining profit figures in Q3, with the European fiscal crisis affecting the real economy and the exchange rates rising rapidly. According to an electronic disclosure by the Financial Supervisory Service on November 21, as well as financial data service provider FnGuide, net income for the year on a consolidated basis tentatively dropped between the second and third quarters for 9 out of the 10 groups. Their gross net profits decreased 24.39%, from 16.099 trillion won to 12.173 trillion during the period. Meanwhile, operating profits fell for...

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