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Asia News on Dec. 15, 2019
Sunday, December 15, 2019
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(Korea) Samsung Electro-Mechanics Co. is set to shut down one of its Chinese units that produce high density interconnect substrates on account of low profitability.
Samsung Electronics Co. is poised to spend $8 billion at its chip factory in China, in an attempt to boost production of NAND flash memory chips.
(source: The Korea Herald)
*Japan
The latest economic survey by the Bank of Japan showed big manufacturers’ sentiment index was zero in December, compared to plus 5 in September.
Japan’s Securities and Exchange Surveillance Commission recommended that Nissa be forfeited $22 million for under-reporting compensation for its former chairman, Carlos Ghosn.
(source: The Asahi Shimbun/The Associated Press)
*China
Prague authorized a partnership agreement with Taipei, capital of Taiwan. Prague once rescinded a similar sister-city deal with Beijing.
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*Korea
The Korean National Assembly is projected to spend US $431.5 billion for next year’s budget, a year-on-year increase of 9.1%.
US $3 billion of South Korean shares were shed by foreign investors in November. It is the largest volume among ten major emerging markets during the same period.
South Korean companies have taken up a 25.5% share of China’s imported cosmetics in the January-October period, closely followed by a 25.2% share of Japanese companies.
Samsung Electronics Co. is estimated to account for a 21.3% share of the global smartphone market in 2019, closely followed by Huawei’s 17.7% share.
(source: The Korea Herald)
*Japan
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(Korea)“Frozen 2” has attracted more than 10 million South Korean audiences.
The latest data from the Bank of Korea has shown that the outstanding balance of mortgage loans held by banks and other financial institutions as of Sept. is estimated to be US $700.5 billion, compared to $674.4 billion last year. Experts say the rise reflects Korean investors’ growing interest in the real estate market.
Foreign investors in South Korea have been pulling back their money from the Korean bond market for three consecutive months. Foreign holdings of locally listed bonds amounted to US $103 billion, the lowest in six months.
Hanhwa systems’ $25 million investment in US-based air taxi startup Overair has been approved. Overair manufactures aerial vehicles that are capable of vertical takeoff and landing.
Three Samsung Electronics Co. executives were sentenced to prison on account of their involvement in an alleged accounting fraud at Samsung BioLogics Co.
S.Korea's workforce is projected to decrease by 17% by 2040.
Almost 50% of 206 Korean firms foresee downsizing next year.
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Hạnh Dương
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