[WEEKEND WRAP] APRIL 27-30

 

Apr 29

[Yonhap] Retail sales in South Korea jumped 9.4 percent in March compared with a year ago on the back of upbeat sales at both online and brick-and-mortar stores.

Sales of 13 major online stores and market places soared 17 percent on-year last month. Sales of 13 offline-based retailers, including department stores, discount chains and convenience stores, also advanced 5.4 percent over the period due to upbeat sales at convenience stores.

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Apr 29

[Pulse by Maeil Business News Korea] Investors cheered the first inter-Korean summit meeting in more than a decade, flocking to pick up Korean stocks on Friday.

In particular, stocks of South Korean companies with business interests in North Korea slightly outperformed or in line with the broad markets on expectations that the resumed talks between the two leaders after a hiatus of more than a decade would improve the inter-Korean relations and economic cooperation.

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Apr 29

[Yonhap] South Korea’s transportation ministry said Sunday it is reviewing a set of measures to prepare a potentially full-fledged implementation of cross-border economic projects.

As part of their initial steps, Seoul and Pyongyang agreed to connect cross-border roads and railways, and upgrade the existing infrastructure. The plan includes taking practical steps to utilize the Gyeongui railway, which links Shinuiju, a city on the Korean Peninsula’s border with China, and Seoul.

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Apr 30

[Yonhap] LG Electronics Inc. aims to expand its light-emitting diode (LED) lighting product portfolio by releasing products that emit less blue light, which is easier on the human eye.

The South Korean consumer electronics giant has showcased 14 different new products for commercial use under the brand LG Smart Lighting Safe Blue. The company is also looking deeper into applying the Internet of Things technology to its LED products so they automatically adjust their brightness depending on ambient light and the movement of people.

Read more here.

 

Apr 30

[Yonhap] South Korea will seek ways to expand cultural exchanges with ASEAN and CIS countries to further spread the global boom of Korean pop culture.

The country will celebrate its landmark anniversaries of diplomatic ties with ASEAN countries — such as the 70th anniversary with the Philippines in 2019, 60th anniversary with Malaysia in 2020 and 30th anniversary with Vietnam in 2022 — with abundant cultural exchange programs. In addition, the government will continue to increase its support for Korean literature, visual and performing arts so they can get more attention in the world markets riding the boom of Korean pop culture.

Read more here.

 

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