KCC CORP. BONDS UNDER-SUBSCRIBED BY INVESTMENT INSTITUTIONS

Highlights –

• KCC’s AA-rate bonds undersubscribed amid doubts about the construction market
• KCC attracted $7 million for its first offering of $12 million worth.
• Investors remain pessimistic towards the construction market.
...

DOOSAN HEAVY REPORTS NET LOSS, STRUGGLING TO SELL ASSETS

Highlights –

• Doosan Heavy company's net loss came $299 million due to one-off costs.

• Setbacks in business due to a shift in energy policy.

• Doosan Heavy put about 400 employees underpaid suspension.

Heavy machi...

SEOUL STOCKS START THE WEEK ON POSITIVE NOTE

Highlights

• KOSPI went up by 8.95 points or 0.46 percent to 1,936.23 in late Monday morning

• Most of the pharmaceutical companies including Samsung BioLogics and Celltrion saw a rise of 1.82 and 0.69 percent respectively

• Investor sentiment was larg...

SEOUL WILL HOST THREE-NATION ESPORTS COMPETITION IN NOVEMBER

South Korean capital city is also set to host a three-state esports tournament in the month of November which will see participation of China and Japan.
The confirmation regarding this sporting event was given by the South Korea Ministry of Culture, Sports and Tourism (SKMCST) in the last ...

SEOUL INCREASES NUMBER OF COVID-19 TESTS AFTER RECENT SPIKE

Highlights

• Anti-gay prejudice is impeding South Korea’s response against coronavirus

• Seoul is testing more than 8,000 people per day

• At present, South Korea has 11,018 cases of coronavirus and 260 people have lost their lives

Afte...

KOREAN AIR PASSENGERS TO COMPULSORILY WEAR MASKS – COVID-19

Highlights –

• South Korean domestic passengers asked to wear masks compulsorily.
• Korean Air announced the mandatory government’s guideline due to the pandemic.
• Korean Air is also considering the same guidelines for its inte...

COVID-19 SLOWS DEMAND FOR ICT PRODUCTS IN SOUTH KOREA

Highlights –

• Outbound exports of ICT products drop by 15.3 percent.
• Exports to China fell by 16.5 percent from last year.
• Exports of displays fell by 28.1 percent to $1.24 billion.

According to the South Korean Mini...

SEOUL WILL IMPLEMENT A CONVENTION THAT WILL STOP MNCs' TAX AVOIDANCE

According to officials in Seoul, the government of South Korea has decided to implement a multilateral convention that will become effective from the month of September and will work towards keeping multinational corporations (MNCs) away from taking benefits of loopholes in the tax laws as their ...

SEEGENE’S COVID-19 TEST KIT’S MAKE PROFIT

Highlights –

• Seegene Inc, a molecular diagnostics company.
• The test kit maker made $3 Million in operating profit in first-quarter profit.
• The company’s shares last year remained at the $24.43 level.

The ...

SEOUL: CORONAVIRUS CASES LINKED TO NIGHTCLUBS REACH 102

Highlights

• Majority of newly confirmed cases of coronavirus are traced back to one man

• At present, South Korea has reported total 10,962 cases of COVID-19, while 259 people have lost their lives

According to South Korean health authorities, new coronavi...

SEOUL: HOW ONE MAN’S NIGHT OUT IS MAKING THE ENTIRE CITY SUFFER

Highlights

• All the nightclubs and bars in the city are closed indefinitely 

• At present, South Korea has reported total 10,936 cases of coronavirus while 258 people have lost their lives

South Korea was initially one of the worst affected countries ...

SEOUL STOCKS START THE WEEK ON HIGHER SIDE

Highlights

• Despite gains by various stocks, South Korea’s top cap Samsung Electronics went down by 0.31 percent in early morning trading

• Seoul has reported fresh cases of COVID-19 that are linked to the bars and pubs across the city

As the result ...

SOUTH KOREA’S STOCK MARKET TO GET EXTRA SUPPORT

Highlights:

• The South Korea stock market is tumbling between the positive and negative in the last four trading days.
• The global forecast for the Asian market is positive.
• The KOSPI ended the day on Friday with gains from the financial shar...

NIGHTCLUBS IN SEOUL ARE THE NEWEST HUB OF CORONAVIRUS INFECTIONS

Highlights

• Around 15 new cases of coronavirus were reported and majority of them are linked to nightclubs in Itaewon

• KCDC officials have asked people to refrain from visiting such places

As soon as the country of South Korea took steps towards the reviv...

SOUTH KOREA STOCK MARKET REBOUND PREDICTED

Highlights:

• The global prediction of Asian markets is towards optimism over the easing of COVID-19 restrictions.
• By the end of the three trading days, the South Korea stock market collected almost 60 points or 3.1 percent.
• On Thursday, the ...

SEOUL: MOSQUES IN THE COUNTRY REOPENED FOR RAMADAN

Highlights

• People coming in mask will maintain social distancing along with use of hand sanitizers, face mask and writing names in register

• More than 150,000 Muslims stay in South Korea and make up 0.3 percent of total population

After recording zero ne...

CEO OF KOREAN FINTECH SEEKS $200 MILLION

Highlights:

• Viva Republica Ltd. is planning to raise about $200 million from investors to expand its online banking and trading services.
• Founder Lee Seung-gun stated that they are planning to go public in two to three years with a listing in Hong Kon...

KAKAO BANK Q1 NET ALMOST TRIPLES

Highlights:

• Kakao Bank, South Korea’s top internet-only lender, first-quarter net profit nearly triples due to increased interest income.
• Net profit reported being 18.5 billion won which is equivalent to USD 15.2 million.
• The first-qu...

MANUFACTURING PMI OF SOUTH KOREA WORSENS

Highlights:

• South Korea’s manufacturing Purchasing Managers’ Index (PMI) fell from 44.2 to 41.6 last month.
• This is the lowest level of PMI since January 2009.
• This may further worsen if the coronavirus pandemic will not be cont...

SEOUL REPORTS ZERO LOCAL CASES OF COVID-19

Highlights

• As per health authorities, not a single case of coronavirus has been related to the parliamentary election which took place on April 15

• At present, South Korea has around 10,765 cases of coronavirus while 247 people have lost their lives

Acco...