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Asia News on Dec. 30, 2019
Monday, December 30, 2019
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(Japan) Japan Display Inc. is mulling the sale of its main smartphone screen factory to Apple Inc. and Sharp Corp. for approximately between $730 million and $820 million.
(source: JapanToday)
*Korea
Fried chicken chains racked up $146,000 on average throughout 2018, the lowest among 12 types of franchises.
The South Korean government is projected to pump $65.6 million into its artificial intelligence hub program in 2020, more than doubled from $26.8 million spent in 2019.
Hyundai Motor Co. and Kia Motors Corp.'s SUV sales in Europe are expected to exceed 500,000 units in 2019, hitting a record high.
(source: The Korea Herald)
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(Japan) Japan's seasonally adjusted unemployment rate dropped to 2.2% in November from 2.4% in October.
*China
China's Beidou Navigation Satellite System is projected to be completed within the first half of next year. The system is known to emulate the U.S. Global Positioning System.
China's soybean imports skyrocketed by 53.7% in November year-on-year, following its tentative trade deal with the U.S.
(source: Xinhua News Agency, SCMP)
*South Korea
HDC Hyundai Development Co. inked a deal to acquire Asiana Airlines Inc., South Korea's 2nd largest airline.
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(KOREA)Around 360 units of Imported luxury cars priced at $258,000 or higher were sold in South Korea between January and November 2019.
The total amount of outstanding loans by private lenders reached $14.3 billion at the end of June, down from $14.8 billion 6 months earlier.
Samsung Electronics Co. was chosen as the most desirable workplace by South Korean university students, accounting for 10.6% of the survey.
(source: The Korea Herald)
*Japan
SoftBank Group Corp faces headwinds as it attempts to secure $3billion from Japan's biggest 3 banks, largely due to lenders having reached internal lending limits to the company.
(source: JapanToday)
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(Korea) South Korea’s 211 major companies increased investment in R&D by around 11% throughout the year, spending about $33.7 billion as of the 3rd quarter, up 11.3% year-over-year.
E-mart, a giant South Korean retailer, is set to open its second No Brand store (its private brand selling low-priced items) in the Philippines.
(source: The Korea Herald)
*Japan
Japan is projected to accept applications for licenses to operate local 5G services in rural areas, encouraging regional business to utilize the service.
(source: JapanToday)
*China
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