*4.25 Business News in South Korea 🇰🇷
-South Korean steel companies are facing headwinds as the demand for steel is in steep decline amid the coronavirus pandemic. The biggest Korean steel company Posco saw its operating profit decreased by 41% year over year to 705.3 billion won ($570.8 million) in Q1 2020. In the same period, Hyundai Steel also saw its sales dropped by 8% year over year to 4.66 trillion won ($3.78 billion)
-The average daily volume of foreign exchange trading by banks in South Korea reached $59.37 billion since 2008 in Q1 2020, a record high since 2008. The result was largely affected by foreign investors pulling money away from the Korean market amid the coronavirus pandemic.
-The average dividend yield of the 553 companies listed in KOSDAQ(a Korean NASDAQ) with a fiscal year ending in December was 1.71% in 2019.
(Source: Yonhap News Agency, BusinessKorea)
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