Asia News on Feb. 25, 2020

(Japan🇯🇵) Japan's Mitsubishi UFJ Financial Group Inc. is set to inject nearly $706 million in Grab Holdings Inc., the owner of the Singaporean ridesharing app. Among Japanese companies, Toyota Motor Corp. and SoftBank Group Corp. have already invested in Grab.

(Source: Kyodo News)

*South Korea🇰🇷

South Korea's internet-of-things firms saw a record-high revenue of $8.2 billion in 2019, up 16.2% from the prior year.

(Source: The Korea Herald)

*China🇨🇳

Huawei's revenue rose 18% to $121 billion in 2019. The company sold more than 240 million smartphones last year, ranking the 2nd in the global market, following Samsung Electronics.

(Source: Xinhua News Agency)

@official_theasians The Asians

Comment

Posted by

u/dylanyang0930

1 day ago

Feb. 25, 2020, Asia

Business

(South Korea🇰🇷) Delta Air Lines, the third-largest shareholder of Hanjin KAL which owns Korean Air, bought a 1% additional stake to support current Hanjin Group Chairman Cho Won-tae. Cho is in a feud with his older sister Cho Hyun-ah over taking control of South Korea's giant airline following their father's death. Cho Hyun-ah is well known for the "nut rage incident."

(Source: The Korea Herald)

*Japan🇯🇵

Japan's Toyota Motor restarted its 4th and final assembly plant in China.

(Source: NewsOnJapan)

*China🇨🇳

Shanghai's Pudong New Area unveiled a series of policies such as rent reduction and exemption in an effort to help companies restart production and reduce the damage from the COVID-19 outbreak. The amount of rent reduction and exemption is set to top $142 million.

(Source: Xinhua News Agency)

@official_theasians

Comment