Archive for August 26th, 2020

BOK to sharply lower economic growth outlook

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

Bank of Korea Governor Lee Ju-yeol said Monday that he cannot rule out the possibility of the economy contracting by more than 1 percent in 2020, due to the [...] » More

Korea Closes Schools, Imposes Mask Mandate Amid ‘Severe Emergency’

26-Aug-2020 Intellasia | Forbes | 6:02 AM

South Korea, a country hailed throughout the pandemic for its response to Covid-19, imposed new social distancing measures Monday and warned a stricter lockdown could be [...] » More

Coronavirus: Korea shuts schools, braces for health care workers’ strike

26-Aug-2020 Intellasia | South China Morning Post | 6:02 AM

South Korea on Tuesday ordered schools and kindergartens in Seoul to resume online classes as authorities struggle to contain several coronavirus clusters. There were 280 new [...] » More

Asset management firms’ net profits soar 46pct in Q2

26-Aug-2020 Intellasia | Koreaherald | 6:02 AM

The combined net profits of asset management firms in South Korea jumped 46 percent on-year during the April-June period this year amid the local stock market’s sharp [...] » More

Foreign minister apologises over New Zealand sexual abuse case

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

Foreign minister Kang Kyung-wha apologised Monday over the handling of sexual allegations against a senior Korean diplomat once stationed in New Zealand. “We received [...] » More

Renault Samsung’s TWIZY becomes roadside eye-catcher

Renault Samsung’s TWIZY becomes roadside eye-catcher

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

The electric vehicle (EV) market has been showing rapid growth as of late, with global car manufacturers releasing scores of attractive designs. The EV craze could be [...] » More

China supports vaccine development

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

The Chinese Embassy in Korea has made a donation for vaccine development to a Seoul-based international research centre. The donation has gained attention as it was made [...] » More

‘Unity in time of crisis pushes up approval rating for President’

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

The Moon Jae-in administration’s successful handling of the initial stages of the COVID-19 crisis early this year has become a rallying point amid the recent virus [...] » More

Tesla’s Musk hints of battery capacity jump ahead of industry event

26-Aug-2020 Intellasia | Reuters | 6:02 AM

Tesla Inc’s (TSLA.O) chief executive Elon Musk has suggested the US electric carmaker may be able to mass produce longer-life batteries with 50 percent more energy [...] » More

LG Electronics shuts Indonesia factory after virus outbreak

26-Aug-2020 Intellasia | AFP | 6:02 AM

South Korea’s LG Electronics has temporarily shut a factory near Indonesia’s capital after some 200 employees contracted coronavirus, the company and a local [...] » More

KCDC warns of ‘calm before storm’ as new COVID-19 cases stay below 300 for 2nd day

26-Aug-2020 Intellasia | Koreaherald | 6:02 AM

South Korea’s daily tally of new COVID-19 cases stayed below 300 for the second consecutive day Tuesday in a week that authorities see as the last opportunity to bring [...] » More

[M&A Weekly] Toshiba, Carlyle manage to exit failing Korean equity investment

26-Aug-2020 Intellasia | Koreaherald | 6:02 AM

Foreign investors in two Korean companiesUnison and Yakjin Tradingmanaged to sell their stakes earlier this week, but only at significant losses, disclosures showed Tuesday. [...] » More

Criticism grows against doctors’ strike amid COVID-19 pandemic

26-Aug-2020 Intellasia | KoreaTimes | 6:02 AM

Public criticism is mounting over the ongoing doctors’ strike, which has begun disrupting medical services at some hospitals amid the COVID-19 pandemic. As of Tuesday, [...] » More

China’s social security fund is being propped up by local government subsidies, but for how long?

26-Aug-2020 Intellasia | South China Morning Post | 6:02 AM

When the coronavirus began taking its toll on China’s economy earlier this year, one of Beijing’s key policies to reduce the impact was to exempt firms from [...] » More

Xinjiang residents handcuffed to their homes in Covid lockdown

26-Aug-2020 Intellasia | TheGuardian | 6:02 AM

Residents in the capital of Xinjiang are being forced to take Chinese medicine, being handcuffed to buildings and ordered to stay inside for weeks as part of a harsh range of [...] » More