UK IN TALKS WITH JAPANESE AND SOUTH KOREAN SUPPLIERS FOR 5G

HIGHLIGHTS

• To break the monopoly of Huawei over 5G internets, British officials are talking to Japanese companies and South Korean companies to develop the 5G network spectrum.
• NEC Corp from Japan and Samsung from South Korea are in talks with British...

CORONAVIRUS REBOUNDS IN SOUTH KOREA

HIGHLIGHTS

• In South Korea, the number of coronavirus is increasing again.
• Healthcare workers and churchgoers have been told to avoid crowds.
• There are concerns about school reopening.

On 2 JUNE 2020, areas around Seoul ord...

SOUTH KOREAN DUTY-FREE RETAILERS CLOSING DOWNTOWN STORES

HIGHLIGHTS

• Due to the declining number of tourists caused by coronavirus epidemic, many downtown stores are closing temporarily.
• Many outlets that were favorite with tourists are closing down.
• The number of international flights coming to S...

BLOCKCHAIN BASED REWARDS PROGRAM FROM BMW SOON

HIGHLIGHTS

• BMW is planning to launch BMW Vantage, a blockchain based rewards program.
• Using BMW Vantage would enable users to collect reward points as coins.
• Reward points can be used for discounts or payments.
• Global rollout of ...

CHEIL WORLDWIDE ACQUIRE COLOURDATA

HIGHLIGHTS

• South Korean company Cheil Worldwide Inc. owns Chinese company ColourData.
• The presence of Cheil Worldwide Inc. is set to increase in China.
• ColourData analyzes data using proprietary technology.

In the analytic...

US AND SOUTH KOREA TO FUND KOREANS WORKING FOR US FORCES KOREA

HIGHLIGHTS

• USA and South Korea have reached an agreement to fund Korean nationals working for US Forces Korea.
• The agreement is about equal burden-sharing.
• Agreement was necessary due to tensions between South Korea and North Korea.
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SOUTH KOREA APPROVES EMERGENCY USE OF ANTI-VIRAL DRUG

HIGHLIGHTS

• South Korean government confirmed that use of anti-viral drug Remdesivir in other countries successfully cured COVID-19 virus.
• Five day course of treatment with Remdesivir could improve the condition of patients.
• Before South Kor...

BAEKJEHONSAM TO HOST KLPGA TOUR

HIGHLIGHTS

• Baekjehongsam is going to host KLPGA tour at the Grand Country Club.
• KLPGA tour is a two-day event. Grand Country Club is the second sponsor.
• Baekjehongsam is one of the biggest manufacturers as well as exporters of red ginseng i...

SOUTH KOREA TO COUNTER JAPAN TRADE CURBS BY REOPENING WTO COMPLAINT

HIGHLIGHTS

• South Korea has reopened the complaint against Japan at WTO.
• South Korea wants to challenge the curbs that restrict Japanese technology exports to South Korean companies.
• Due to mutual settlement regarding some unrelated trade di...

SINGAPORE PLANNING TO RESTART TRAVEL WITH SOUTH KOREA AND AUSTRALIA

HIGHLIGHTS

• Singapore is in talks with South Korea and Australia to restart travel relations with these two countries.
• South Korea and Australia have succeeded to a large extent to control the outbreak of coronavirus.

Due to the crisi...

DONALD TRUMP INVITES SOUTH KOREA AND OTHER COUNTRIES TO JOIN G7 SUMMIT

HIGHLIGHTS

• US President Donald Trump has postponed the G7 Summit to September 2020.
• President Trump has invited South Korea and many other countries to join G7 summit.
• Democratic countries have jointly criticized the unethical Chinese laws ...

SAMSUNG TO LAUNCH NEW MEMORY CHIP LINE IN SOUTH KOREA

HIGHLIGHTS

• Samsung Electronics Co Ltd has plans to mass produce a new line of memory chips due to increasing demand for personal computers and servers.
• The plant for manufacturing operations is located in Pyeongtaek.
• The new chip is also ex...

BLOCKCHAIN HEALTH MANAGEMENT TRIALS IN SOUTH KOREA FOR CHRONIC HEART DISEASE

HIGHLIGHTS

• Equipped with artificial intelligence, blockchain platform is being developed to manage chronic cardiovascular disease data.
• The initiative of this healthcare project is expected to run till December 2020.
• The blockchain trial ai...

NHN, SAMSUNG SDS TO DEFEND CLOUD MARKET JOINTLY

Highlights –

• NHN and Samsung SDS to jointly defend the local South Korean cloud market.
• On Thursday the MOU was signed between the two.
• The local cloud service market is still dominated by global giants.
• The country’s...

SOUTH KOREA TO GET ITS FIRST FDA APPROVED ANTIBODY TEST KIT

Highlights –

• New COVID-19 antibody test kit developed by Plexense Inc.
• The company has demonstrated its test kit well to get FDA approval.
• The company will launch the ACCEL ELISA COVID-19.
• The new test kit was developed wit...

BIG HIT ENTERTAINMENT CO. FILES FOR IPO ON KOSPI

Highlights –

• Big Hit Entertainment Co. files for IPO as a preliminary step on KOSPI
• The filing will be reviewed over the next 45 days.
• Bang Si Hyuk, the agency’s founder, and Co-CEO holds a 45.1 percent stake in the company.

SOUTH KOREAN STOCK MARKET TRADE LOW ON FRIDAY

Highlights –

• Sino-U.S tensions escalate, leading to low trading in the South Korean stock market.
• KOSPI retreated 4.95 points or 0.24 percent.
• Foreigners sold off a net $138.5 million.
• Institutions offloaded a net $2 millio...

SOUTH KOREA COVID-19 UPDATE – 29.5.2020

• South Korea reported more than 50 new virus cases for the second consecutive day Friday.
• All the new cases in the Seoul metropolitan area were due to logistics center-tied cluster infections, threatening to derail health authorities' virus fight amid lingering concerns abou...

SOUTH KOREAN STOCK MARKET UPDATE AS OF THURSDAY – 28.5.2020

Highlights –

• South Korean stock market closed lower on Thursday.
• KOSPI lost 2.66 points, closed at 2,028.54.
• Foreigners bought a net $3 million.
• retail investors sold off a net $2.3 million

On Thursday (KS...

SOUTH KOREA INVESTS ON GOLD AND SILVER FUNDS

Highlights –

• A steady rise in demand for gold and silver funds in South Korea due to pandemic.
• The annual average return in gold funds was more than 43.41 percent.
• Gold in the South Korean local market closed at $54.98 per gram.
...