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Asia News on May 3rd, 2020
Sunday, May 03, 2020

 VietPress USA   Source: www.reddit.com
Posted by
u/theasiansbusiness
48 minutes ago

5.04 South Korean business news summary

Business
Samsung Electronics accounted for a 21% share in the global mobile phone market in Q1 2020, selling a record low of 58.3 million smartphone units. The Chinese company Huawei followed in second place, selling 48.5 million units during the same period.
Sales of the Korean automaker Kia Motors America dropped 38% year over year to 31,705 vehicles in April. During the four months of this year, the company sold 169,650 units, nearly 10% down from the same period a year ago.
Combined sales of Korean duty-free shops slipped 1.3% month over month to $1.5 billion in April, down 46.2% from January, mainly affected by the sluggish economy amid the coronavirus pandemic.
Combined net income of South Korea’s largest 64 business groups on the Fair Trade Commission’s watch list dropped 48.1% year over year to $39.1 billion in 2019. It was mainly affected by sluggish sales of semiconductors and petroleum products.
(Source: Yonhap News Agency, BusinessKorea)
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Posted by
u/theasiansbusiness
21 hours ago

5.03 South Korean business news summary

Business
Korean Air Lines Co., a South Korean flag carrier, is set to draw up a self-rescue plan worth $1.23 billion this month in the face of financial difficulty caused by the coronavirus outbreak. Most notably, the Korea Development Bank and the Export-Import Bank of Korea are set to spend $979.6 million to help the company.
The South Korean steel company POSCO won the 14th steelChallenge, a simulated steel making competition organized by the World Steel Association. POSCO has won the competition three times as of this year, the most numbers for a single corporate.
(Source: Yonhap News Agency, BusinessKorea)
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