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Individuals Rush for Stocks amid Virus’ Market Volatility

Individuals Rush for Stocks amid Virus’ Market Volatility

SEOUL, April 9 (Korea Bizwire) — Individual investors in South Korea have raked in a massive amount of local stocks since the country’s first coronavirus outbreak in January, countering foreigners’ selling mode, data showed Thursday. Since South Korea’s first confirmed case of COVID-19 on Jan. 20 to Thursday’s closing, individuals bought a net 20.6 trillion [...]

Lotte, Shilla Surrender Incheon Airport Duty-free Biz amid Coronavirus Woes

Lotte, Shilla Surrender Incheon Airport Duty-free Biz amid Coronavirus Woes

SEOUL, April 8 (Korea Bizwire) — South Korea’s two leading duty free operators have decided to give up their bids to operate stores at Incheon International Airport as the novel coronavirus has devastated business at the transportation hub, industry sources said Wednesday. The move by Hotel Lotte and Hotel Shilla comes as the business environment [...]

Employees at Uniqlo Korea Anxious as CEO Email Mentions ‘Restructuring’

Employees at Uniqlo Korea Anxious as CEO Email Mentions ‘Restructuring’

SEOUL, April 8 (Korea Bizwire) — Experts are anticipating layoffs at the South Korean unit of Japanese fashion retailer Uniqlo, which has been hit hard by last year’s national boycott movement against Japanese products. Chief executive of FRL Korea, an operator of Uniqlo Korea, recently mentioned the term ‘restructuring’ in an email. The email written [...]

S. Korea Developing Localized Hydrogen Fuel Cell Technology

S. Korea Developing Localized Hydrogen Fuel Cell Technology

SEOUL, April 8 (Korea Bizwire) — A local power company has embarked on a project to set up power facilities for hydrogen fuel cells using domestic technology. South Korea’s state-run utility Korea Electric Power Corp. (KEPCO) announced Tuesday that it has extended the hydrogen pipelines installed in the Ulsan Industrial Complex and connected them with [...]

Airlines Struggle to Tide over Virus Impact

Airlines Struggle to Tide over Virus Impact

SEOUL, April 8 (Korea Bizwire) – South Korean airlines, one of the hardest-hit industries by the outbreak of the new coronavirus, are taking unprecedented measures, such as unpaid leave, job cuts and asset sales, to overcome the COVID-19-triggered crisis, industry sources said Wednesday. Korean Air Lines Co., the country’s biggest airline, said Tuesday it will [...]

Trading of Stock Index Futures, Options Soars amid Virus-caused Market Rout

Trading of Stock Index Futures, Options Soars amid Virus-caused Market Rout

SEOUL, April 8 (Korea Bizwire) — Transactions of stock index futures and options in South Korea spiked in February due to greater market volatility caused by the new coronavirus outbreak, data showed Wednesday. The daily turnover of stock index futures came to 30.9 trillion won (US$25.5 billion) in February, up 58 percent from January and [...]