Articles by Park Hyung-ki
Park Hyung-ki
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[Newsmaker] Thin line between G-men and Mafia
Government men and women ― affectionately called G-men in the past ― had once been looked upon with respect and often portrayed in movies as heroes and protagonists who take on bad guys such as gangsters and thieves to protect and serve the public.This no longer seems to be the case, as hostility grows and spreads toward the government following the devastating ferry accident that has so far claimed more than a hundred lives, mostly high school kids.The officials, especially including those work
Social Affairs April 22, 2014
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[Newsmaker] Key suspects revealed in deadly Sewol sinking
Behind the tragic ferry tale engulfing the country and its people in despair lies two key characters wanted as suspects for questioning over the sunken ship off the southwest coast.They are the owners of a company that owns Chonghaejin Marine Co., the owner and operator of the Sewol ferry, in which hundreds of passengers, mostly high school students, remain trapped and missing.They are brothers, surnamed Yoo, who have a combined 38.88 percent stake in I-One-I Holdings, a management consulting fi
Social Affairs April 21, 2014
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[Ferry Disaster] Government under fire for flawed response
Korea faces an unconventional threat that has long been predicted for this new era in which the enemy remains hidden and can cause social disruption like that following the devastating ferry accident off the southwest coast.This enemy has turned out to be none other than business corruption, selfishness and rivalry between government agencies ― not the strong tides, rain and poor underwater visibility that have hampered the nation’s search operations for hundreds of missing passengers.These ingr
Social Affairs April 20, 2014
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LG Electronics to produce mobile application processors
LG Electronics, Korea’s second- largest consumer electronics company, is moving to develop mobile application processors for smart devices, raising speculation that it is aiming to start rebuilding its long-lost semiconductor business, industry sources said.An LG Electronics spokesperson confirmed that the company will be mass-producing application processors “soon,” but did not further elaborate.However, an industry source familiar with the situation noted that LG Electronics will begin mass- p
Technology April 16, 2014
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Samsung SDI develops longer-life curved battery
Samsung SDI, Korea’s second largest lithium-ion battery maker, said Tuesday it has developed a longer-lasting curved battery for smart watches.The company’s rechargeable battery with a capacity of 210 milliamp-hours has five times the battery life offered by existing wearable batteries.Samsung SDI’s curved battery has been embedded in Samsung Electronics’ Galaxy Gear Fit smart watches, which was introduced last week with the Galaxy S5 smartphone.Samsung SDI said it was able to produce improved,
Technology April 15, 2014
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Regulator to unveil plan to promote initial public offerings
South Korea’s financial regulator will remove hurdles for initial public offerings on the country’s stock market in a bid to invigorate a sector that has been on a downward spiral, sources said Friday.The Financial Services Commission will unveil a plan next week to revive the IPO market, which is expected to include measures on enhancing the independence of KOSDAQ, South Korea’s secondary bourse, reviewing stock listing regulations and promoting venture-focused KONEX market, according to the so
April 11, 2014
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Hyun meets Australian, Canadian counterparts
Korea and Australia agreed to further bolster the economic ties between their two nations and work toward an early implementation of the free trade agreement they signed earlier this week, the Finance Ministry said Friday. In a meeting held on the sidelines of the Group of 20 meetings in Washington, Finance Minister Hyun Oh-seok and Joe Hockey, treasurer of Australia, discussed such issues, stressing that the FTA would contribute significantly to the mutual development of their countries.The FTA
April 11, 2014
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Hyundai Rotem develops high-speed train
Hyundai Rotem, South Korea’s leading railway systems provider, said Friday it has developed a high-speed train with a top speed of 250 kilometers per hour.The company said the train uses a dispersed power pack arrangement, particularly suitable for quick acceleration and deceleration, and falls in the mid- to high-speed category among bullet trains.“The new train was developed because in South Korea, the distance between stations are not that far apart, so there is no great need for trains that
Industry April 11, 2014
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Banks’ foreign currency deposits fall in March
Foreign currency deposits in South Korean banks declined in March from a record high in the previous month as companies tapped the deposits to pay import bills, the central bank said Friday.Outstanding foreign currency-denominated deposits held by residents reached $51.1 billion as of end-March, down $1.58 billion from the previous month, according to the Bank of Korea.Residents include local citizens, foreigners staying here for more than six months and foreign companies. The data excludes inte
April 11, 2014
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Samsung, LG required to adopt kill switch
The government said Thursday that all new smartphones produced by local handset makers should adopt a “kill switch” security function to enable users to remotely shut off their devices, rendering them useless, to prevent theft. “This will help users (to safeguard their data) if (the phone is) lost or stolen,” said a government official at the Ministry of Science, ICT and Future Planning. Samsung Electronics will feature the kill switch on its new flagship model Galaxy S5, which will hit the glob
Technology April 10, 2014
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Tech giants target kids’ tablet market
Samsung Electronics and LG Electronics are expanding their tablet PC lineup for children as the global tech giants eye them as potential customers amid a growing market for e-books and digital education.LG is ready to roll out a follow-up to the Kids Pad introduced in 2012 called the Kids Pad 2, a nontoxic and durable tablet featuring basic tool kits to learn Korean, English and math.The upgraded tablet, which has been certified by the National Radio Research Agency, is expected to hit the marke
Technology April 9, 2014
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[SUPER RICH] You’ll never say ‘Naver’ like you used to
When one asks market analysts, “What’s up with Naver?” they exclaim, “Everything’s up!”Most significantly, the company’s earnings have skyrocketed, which in turn has driven up its stock price.This positive momentum led Lee Hae-jin, the founder of the search giant, to receive a fatter paycheck and become richer, joining the upper echelon of Korean billionaires who include Samsung chairman Lee Kun-hee.Lee, Naver’s chairman of the board, has a 4.64 percent stake in the search portal and was paid a
Technology April 7, 2014
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[Newsmaker] Korea suffers youth unemployment blues
Key economic indicators seem to point toward Korea making a solid recovery.The country’s output has been growing thanks to exports. Its consumer spending has picked up on the back of growing welfare financing by the government.Still, Asia’s fourth-largest economy is finding it hard to create jobs for college graduates, even while they pull all-nighters at libraries to pass conglomerates’ corporate entrance exams.Korea’s youth joblessness, which passed 10 percent in February, has become a bigger
April 6, 2014
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[Weekender] Plant trees for the future
They might just stand still all day long as if they do nothing at all. But they give us more than most of us realize.They absorb toxic gases and give us fresh, cool air.They add beauty to our natural surroundings, and are used in proverbs, novels and movies for enlightenment.They heal us, bring us closer together and even help us make money.And they ask for nothing in return.Trees and forests have become an important and integral part of society especially as the world faces climate change as a
April 4, 2014
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Adieu, Windows XP
It is never easy to say good-bye to something people have been used to. It is even harder to say hello to a complete stranger.When it comes to Windows XP, Microsoft’s longest-running operating and most beloved system for personal computers, consumers and companies will inevitably have to bid adieu.On Tuesday, the U.S.-based software giant will end all of its technical support, including security updates and patches, for the XP platform, as well as the Internet Explorer version that came with XP.
Technology April 2, 2014
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