South Korea's foreign currency reserves fell for four consecutive months due to the strong dollar.According to the Bank of Korea (BOK) on Dec. 3, South Korea's foreign currency reserves fell to US$363.1 billion in the end of November, down US$630 million from US$363.72 billion at the end of last mon
Financial Services Commission chairman Shin Je-yoon emphasized the importance of crowd funding for creative entrepreneurs.He visited the Seoul office of the Korea Exchange (KRX) on Dec. 2 to check up on the progress of its policy for the Korea New Exchange (KONEX). There, he added that he would try
Twenty-eight economic organizations, including the Federation of Korean Industries (FKI), and 38 companies in the power generation and energy sectors released a statement on Dec. 2 that the government’s carbon emissions allowance by enterprise, which is scheduled to take effect next year, is short o
Although there is fierce competition for the superconducting cable market, where a new electric transmission technology to save energy is getting attention, Korea seems to hold its hands behind its back.According to an industry source on Dec. 1, Korea isn't set to commercialize the technology of sup
Samsung Electronics has opted out of the medical device business after four and a half years by handing over the unprofitable business unit to Samsung Medison.Samsung Medison, which manufactures ultrasonic diagnostic systems, was acquired by Samsung Electronics in 2011. At present, Samsung Electroni
The G3 Screen with LG Electronics' own application processor (AP) is suffering from sluggish sales, as it is widely acknowledged to deliver low performance for its price. The new handset is even inferior to the X3 with Huawei's own AP, but the launch price of the G3 Screen is 2.5 times higher.Accord
Thinkware unveiled its navigation system, the Inavi X1 in which augmented reality (AR) is integrated with a cutting-edge driver system, during its launch event in Seoul on Dec. 1.Thinkware's AR solution, Extreme AR, provides directions to drivers in real time by combining road images and information
The Korea Electric Power Corporation (KEPCO) held an official starting ceremony to move its ICT facilities from its headquarters in Samsung-dong, Seoul to Naju Integrated ICT Center on July 21.KEPCO will transfer its 1,200 ICT system devices, the largest number out of any public organization, via se
Hyundai Motor Company, Kia Motors, Renault Samsung Motors, Ssangyong Motors, and GM Korea sold and exported a total of 782,055 cars last month to record a 2.2 percent growth from a year ago and 4.5 percent from the previous month.GM Korea’s and Ssangyong’s monthly sales volumes decreased 22.7 percen
The Korea Research Institute of Standards and Science (KRISS) announced on Dec. 1 that a research team led by Dr. Choo Min-chul at KRISS has successfully developed a tech to disperse oil at nanoparticle size into water at room temperature.To mix water and oil, it is important to first make nanoscale
An increase in direct purchases on overseas websites is threatening small and mid-sized manufacturers in the nation due to the fact that the weight of domestic demand for those manufacturing companies reaches 80 to 90 percent.According to the Korea Chamber of Commerce and Industry (KCCI), products m
Samsung Electronics Vice Chairman Lee Jae-yong opted for stability instead of radical change in his first personnel transfer. It seems that he took the safe path, with Samsung Group Chairman Lee Kun-hee in the hospital for over six months.On Dec. 1, the Samsung Group promoted three of its executive
It is being predicted that the supply-demand relationship of jobs and manpower will be reversed starting in 2020.Kim Kwang-seok, senior researcher at Hyundai Research Institute, predicted on Nov. 30 that there will be a shortage of manpower from the beginning of the 2020s in a report called "Top 10
According to the Korea Employers Federation’s recent data, 369 companies that finished this year’s wage negotiations raised their wages by an average of 8.2 percent, 4.2 percentage points higher than a year ago. The companies’ profitability is likely to deteriorate given that those listed on the Kor
The Hyundai Motor Group is planning on building its third manufacturing plant in India next year. The facilities are predicted to be located in Gujarat with an annual production capacity of 700,000 vehicles. The construction plan will be finalized early next year at the latest.At present, the group
Toyota will release the Mirai in Japan on Dec. 15. The company is planning to sell the hydrogen fuel cell sedan mainly in eight regions, including Tokyo, where hydrogen fuel cell vehicle charging facilities are being set up. At present, about 40 such stations are available in Japan, mainly in large
A South Korean research team has opened a new chapter in the prevention of and treatment for cardiovascular disease by discovering a chemical that induces the growth of new blood vessels.On Nov. 30, a research team led by Ajou University College of Pharmacy professor Park Sang-kyu and Pusan National
South Korea posted a current account surplus for 32 consecutive months in October, surpassing US$9 billion. If this trend continues, South Korea will record the greatest surplus in history this year.Nevertheless, South Korea is not happy about the surplus, considering its quality, because a structur
The Federation of Korean Industries (FKI) presented the major corporations’ measures for the promotion of venture firm growth on November 27 at the Creative Economy Expo held at the COEX Convention Center.There, Samsung Electronics said that it was running a Creative Lab to provide assistance with t
The Korea Energy Management Corporation announced on Nov. 27 that Hyundai Motor Company’s LF Sonata Hybrid, running on 16-inch tires, recorded gas mileage of 18.2 kilometers per liter (42.8 MPG), which is approximately 9 percent better than that of the YF Sonata Hybrid and 1.8 km higher than that of