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Daum Kakao Plans to Launch Luxury Taxi-hailing Service Later This Year

Daum Kakao Plans to Launch Luxury Taxi-hailing Service Later This Year

SEOUL, July 6 (Korea Bizwire) — Daum Kakao, a leading Internet portal in South Korea, said Monday it plans to launch a charge-based luxury taxi-hailing service later this year, riding the popularity of an existing free application. KakaoTaxi has gathered a combined 5 million calls from users in just three months after its release, with

Korean Players Outpace Global Rivals in ESS Battery Industry

Korean Players Outpace Global Rivals in ESS Battery Industry

SEOUL, July 6 (Korea Bizwire) — South Korea’s LG Chem and Samsung SDI have outpaced global rivals in terms of strategy and execution in the energy storage system (ESS) battery industry, a report showed Monday. LG Chem led the corporate assessment in the ESS segment with a total score of 84, trailed by Samsung SDI with 83.5,

MERS Scare to Sharply Cut Corporate Earnings in 3Q

MERS Scare to Sharply Cut Corporate Earnings in 3Q

SEOUL, July 6 (Korea Bizwire) — South Korean firms’ earnings outlook for the third quarter was drastically cut as the country’s first-ever outbreak of Middle East Respiratory Syndrome (MERS) has further sapped already feeble private spending, data showed Monday. The combined third-quarter operating profit of 117 listed firms on the main bourse was estimated at 29

Samsung Electronics, Most Reputable Tech Firm in U.S.

Samsung Electronics, Most Reputable Tech Firm in U.S.

SEOUL, July 5 (Korea Bizwire) — South Korea’s Samsung Electronics ranks as the most reputable technology company in the United States, a report showed Sunday, on the back of its strong products and services appealing to American consumers. Samsung, the world’s largest smartphone maker, has topped such tech peers as Microsoft, Google and Intel in terms

Baekje Historic Sites Named UNESCO’s World

Baekje Historic Sites Named UNESCO’s World

SEOUL, July 5 (Korea Bizwire) — Eight historic sites of South Korea’s ancient Kingdom of Baekje were registered as UNESCO world cultural heritage sites on Saturday. The decision came at the ongoing meeting of the UNESCO World Heritage Committee in Bonn, Germany. “It will mark a valuable chance to promote the history and culture of our

Nearly Half of 30 Largest Groups Reduces Workforce in 2014

Nearly Half of 30 Largest Groups Reduces Workforce in 2014

SEOUL, July 5 (Korea Bizwire) – Nearly half of South Korea’s top 30 business groups reduced their workforces in 2014 due to sluggish business, data showed Sunday, despite the government’s effort to spur their employment. As of end-December, the combined workforce of the leading business groups came to 1.27 million, up a mere 0.6 percent,

“Mobile First” Koreans More Active in Smartphone Usage

“Mobile First” Koreans More Active in Smartphone Usage

SEOUL, July 3 (Korea Bizwire) – Korea has been picked as a “Mobile First” nation, with a significant number of smartphone users taking advantage of their mobile devices for Internet searches, online purchases and watching videos. According to Google’s “Consumer Barometer” analyzing internet usage patterns across the globe, 60 percent of Korean Internet users preferred

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