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Retail Sales Figures for October
The Ministry of Knowledge Economy has released its retail sales figures for the month of October. Weaker consumer sentiment due to prolonged global economic uncertainties and the higher cost of fresh produce pushed sales at the nation’s three major discount chains down 6.6 percent year on year. Spending declined in most categories, including apparel, household goods and food. date2012-11-26
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Korea Showcases IT Convergence Technologies in Silicon Valley
Korea Showcases IT Convergence Technologies in Silicon Valley In collaboration with the Korea Trade-Investment Promotion Agency (KOTRA) and the National IT Industry Promotion Agency (NIPA), the Ministry of Knowledge Economy held the `K-Tech @ Silicon Valley 2012` in Silicon Valley on November 12. The two-day conference, the first of its kind, was set up to demonstrate recent advancements in IT convergence technologies and suggest a future vision for the global IT convergence sector. Kore date2012-11-22
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MKE Releases Car Sales Figures for October
MKE Releases Car Sales Figures for October The Ministry of Knowledge Economy has released its car sales figures for October. The nation’s car production totaled 396,677 vehicles for a 4.3 percent decline from a year earlier. Vehicle exports shrank 6.3 percent year on year to 258,361 units due to the contraction in the European market and weaker demand from emerging economies. Thanks to temporary tax cuts on automobile purchases and special promotional offers by vehicle manufacturers, the date2012-11-16
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IT Trade Figures for October
date2012-11-08
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Trade Figures for October
date2012-11-02
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Korea Launches Free Translator App ‘Genie Talk’
The Ministry of Knowledge Economy has launched a smartphone application called ‘Genie Talk,’ which offers instant Korean-English translation services in both verbal and written formats. Designed to work best with travel-related speech or for everyday conversations, Genie Talk can recognize 270,000 Korean words and 65,000 English words. When connected to WiFi, users can simply type or record messages to get a translation. Genie Talk, equipped with translation technology developed by the Electronics and Telecommunications Research Institute (ETRI), is around 80 percent accurate. The Ministry of Knowledge Economy is also working to launch Japanese and Chinese versions as early as 2014 when Incheon is set to host the 14th Asian Games. The ministry also aims to release versions for six more languages including Spanish, French, German and Russian prior to the PyeongChang Winter Olympic Games in 2018. The application is available free of charge on Apple’s iTunes App Store and Google’s Android Market. * Released by the Software and IT Convergence Division date2012-10-23
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Retail Sales Figures for September
date2012-10-19
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Korea Announces Emissions Reduction Targets for 2013
In preparation for a cap and trade scheme starting in 2015, the Ministry of Knowledge Economy has announced emissions reduction and energy consumption targets for 377 businesses in the power and industrial sectors for next year. After a thorough verification of the BAU levels submitted by the companies, targets were set in consideration of their possible impact on investment and job creation. The estimated emissions of the 377 companies in the industrial and power sectors for the next year amount to 570.6 million metric tonnes, accounting for 96.7 percent of Korea’s emissions. Under this plan, Korea aims to cut 17.2 million tonnes of carbon dioxide emissions or 3 percent of next year’s BAU levels, which is more than double that of this year. It is also expected to save 224.1 petajoules of energy in 2013. date2012-10-18