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LG Chem to spin off its battery business - Economy news in South Korea LG Chem (LG 화학 in Korean) will spin off its battery business unit which is a globally leading division in EV (Electric Vehicles) power market. The spinoff of its battery unit is approved in the Board of Directors Meeting on Thursday and a new subsidiary of LG Chem will be tentatively named "LG Energy Solution (엘지에너지솔루션(가칭) in Korean)". A new entity, LG Energy Solution will be a wholly owned subs.. more
OECD raises South Korea's growth rate forecast for 2020 to minus 0.8 percent - The highest among OECD members The Organization for Economic Cooperation and Development (OECD) said that South Korea's economic growth rate is expected to shrink minus 0.8 percent this year. This is 0.4 percent higher than the organization's previous forecast figure which was announced in June and lifting the country to No.1 among 37 OECD member countries. The OECD highlighted the South Korea's growth forecast will be negati.. more
Total number of 9,887 Coronavirus cases in South Korea 101 new confirmed cases of Coronavirus have been reported by Korea Centers for Disease Control and Prevention (KCDC), bringing total number of 9,887 Coronavirus infection cases in Korea as of Wednesday. The majority of new Coronavirus cases are confirmed as cluster infections especially in medical centers and churches in metropolitan area and some cases of peolple coming abroad to Korea. 24 more.. more
Total number of 9,137 Coronavirus cases in Korea The total number of 9,137 Coronavirus cases are confirmed in South Korea as of Wednesday, showing 100 new cases from the previous day. 223 more people are fully recovered and released from isolation from previous day, reaching to the total number of 3,730 people who are fully recovered. The death toll rose to 126 with an increase of 6 people died from the Coronavirus infections. 82.4 percent of .. more
Trump requested Moon for a medical device for Covid 19 According to Cheong wa dae, US president Donald Trump has requested South Korea president Jae-in Moon to provide a medical device to fight against Covid 19. The phone call was made at an urgent request by Trump and he asked Moon to provide medical equipment to fight against Coronavirus on Tuesday. Moon replied that he would provide a maximum support if available. Moon then mentioned about the ap.. more
Major firms in Korea buy back shares to boost market confidence As South Korea's stock market has been suffering by the spread of Coronavirus, major listed firms decided to buy back their own shares to assure investors. The active purchase of their own shares are showing the confidence of their business development and the willingness to overcome this market crisis. 51 executives in Posco group have purchased a total number of 16,000 shares that are worth 2... more
Coronavirus cases in Korea - 8,897 people confirmed in total According to Korea Centers for Disease Control and Prevention, the total number of Coronavirus infection cases are 8,897 people in Korea as of Sunday. This indicates 98 new cases from the previous report. From these confirmed cases, 2,909 people are fully recovered and released from isolation as of Sunday. 4 new infection cases are confirmed as the Coronavirus cases that are related to the call .. more
Circuit breaker activated on KOSPI, KOSDAQ South Korea's stock market plunged over 8 percent during the trading on Thursday and the circuit breaker was activated in both KOSPI and KOSDAQ markets. The main (KOSPI) and secondary (KOSDAQ) markets in South Korea were suspended for 20 minutes. KOSPI fell to 1461.51 points which is 40.33 points (8.31%) dive from the previous trading day. [NEWS: What's happening in Korea?] - Coranavirus cases i.. more