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Samsung Takes Tough Stance Against Online Rumors

Samsung Takes Tough Stance Against Online Rumors

SEOUL, Jan. 31 (Korea Bizwire) – Samsung Electronics has started to take action against the online dissemination of false accusations about its products. The company recently revealed the whole story behind a false report about its Galaxy Note 4 phablet that went viral on several Korean IT online communities.  According to a post on Samsung’s

Big Increase in News Consumption via Mobile Internet

Big Increase in News Consumption via Mobile Internet

SEOUL, Jan. 31 (Korea Bizwire) – Koreans’ consumption rate of news coverage through public TV networks in 2014 dropped to 84.7 percent from 93.8 percent in 2013, according to a survey of 5,061 Koreans over 19 about Korea’s media consumption in 2014 that was published by the Korea Press Foundation on January 30. The rate

Korean Asset Management Firms Increased Their Foreign Stock Trades by 64 Percent

Korean Asset Management Firms Increased Their Foreign Stock Trades by 64 Percent

SEOUL, Jan. 31 (Korea Bizwire) – Twelve major Korean asset management firms increased foreign stock transactions via their overseas investment funds by 63.9 percent from 2013 to 2014. The number of said transactions reached 79,687 in 2014, according to an announcement from the Korea Securities Depository (KSD) on January 30.  The stock trades within their

Supreme Court Recognizes Suicide by “English Stress” as Occupational Accident

Supreme Court Recognizes Suicide by “English Stress” as Occupational Accident

SEOUL, Jan. 30 (Korea Bizwire) – A worker who was scheduled to be dispatched on an overseas project gave up the position due to his poor English ability. However, the extreme stress caused by his English incompetence finally led to his suicide, and a lawsuit from his wife requesting that the death be viewed as

Low Oil Prices a Boon for Korean Businesses

Low Oil Prices a Boon for Korean Businesses

SEOUL, Jan. 30 (Korea Bizwire) — Six out of ten Korean businesses expected that currently low oil prices would produce positive effects, such as reduced production costs and sales increases. By industry, the automobile and textile industries showed high expectations, but the shipbuilding, E&C and petrochemical sectors expected losses to result from the low price of oil.

Japan’s Orix Chosen as Preferred Bidder for Hyundai Securities

Japan’s Orix Chosen as Preferred Bidder for Hyundai Securities

SEOUL, Jan. 30 (Korea Bizwire) – Japan’s Orix Corp. has been picked as the preferred bidder for a controlling stake in Hyundai Securities Co., the fourth-largest brokerage firm by market cap, financial sources said Friday. Earlier this week, Orix Corp. and South Korean private equity firm Pinestreet had submitted their bids for a 36 percent stake

KRX Delisted as Public Institution, Expanding Abroad

KRX Delisted as Public Institution, Expanding Abroad

SEOUL, Jan. 30 (Korea Bizwire) — Six years after being designated as a public institution, Korea Exchange (KRX) was finally freed from government regulation that included budget controls and audits, effectively freeing it to move forward with expansion in overseas markets. While it was listed as a public institution, KRX’s business activities were been evaluated on an

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