• Samsung plans not to sell Google TV in Korea

    Samsung Electronics said Wednesday that it has no plans to sell sets supporting Google’s Web TV service in Korea. The move came as the TV service has received a lukewarm response in key markets such as Europe. “We got less attention for our Google TVs in Europe. Samsung doesn’t have…

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  • South East Asia

    [Indonesia Report] Weakening of Indonesian currency serves cause for concern

    Indonesia Rupiah is becoming weaker in the last few weeks. IDR exchange currency to US Dollar keep experiencing pressure. Kompas.com published an article pointing out the concern on IDR currency devaluation, saying, “The rise of global negative sentiment seemed to leave no room for the rupiah to strengthen.” Kompas.com raised a…

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  • KT, SKT may face credit downgrade

    SK Telecom and KT, the country’s two leading wireless service providers, may face a credit ratings downgrade in the near future due to their excessive marketing war for new customers, Moody’s Investors Service said Tuesday. The global ratings agency also said E-Mart and Lotte Shopping, Korea’s two retail giants, have…

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  • East Asia

    African connections

    The government announced Tuesday that it plans to boost Korea’s trade with African countries with a goal to increase bilateral trade to $80 billion by the year 2020. The Ministry of Strategy and Finance said that it had a new set of measures that will boost economic support for African…

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  • ‘Don’t alienate chaebol’

    Regulator dubs `democratization of economy’ talks populist The nation’s chief financial regulator has called on the three presidential candidates to stop bashing chaebol and find ways of addressing economic polarization from a broader perspective. “We are mature enough to talk about the democratization of economy,” Financial Services Commission (FSC) head…

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  • Is Hyundai treated fairly?

    A series of class action lawsuits have been filed or are being prepared against Hyundai Motor and its sister automaker Kia Motors for overstating the fuel economy of 13 of their vehicles sold in North America during the past two years. Although the two automakers quickly admitted to the misconduct…

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  • East Asia

    Nuclear policies up in the air

    This is the last in a three-part series analyzing the latest issues confronting the country’s nuclear power plants. ㅡ ED. Whoever wins the presidency in the Dec. 19 election will seek to apply the brakes to the Lee Myung-bak administration’s increasing reliance on nuclear power as a source of electricity,…

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  • West Asia

    Iran workers warn Daewoo protests aren’t over

    The leader of Iranian electronics maker Entekhab Industrial Group’s (EIG) labor union has vowed another major protest in front of the Korean Embassy in Tehran “very soon” if their return of deposit demands from Daewoo Electronics’ creditors are not met. “I can say as the representative of the labor union,…

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  • East Asia

    Elusive chaebol reform

    Candidates struggle to find ways to overhaul conglomerates This is the second in a four-part series analyzing and comparing key election pledges on economic policies promoted by the three major presidential candidates. — ED. Desperate to massage the egos of credit-crunched voters, presidential candidates from both the left and the…

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  • East Asia

    Yeokjeon Market struggles to survive mega retail giants

    SUWON, Gyeonggi Province ― Jeon Hea-ok, 29, recalls the 1990s when Yeokjeon outdoor market near Suwon train station was still bustling with people seven days a week. Her parents ran a small stationery store in the market for several decades, and back then, take-home income was good for them and…

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