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south korea

Hyundai hosts 2020 Open Innovation Lounge exhibition

5 mins read

The FINANCIAL — Hyundai Motor Group (the Group) organized the 2020 Open Innovation Lounge exhibition at its headquarters in Seoul on Nov. 16-17, featuring inventive new technologies and solutions spawned through joint collaboration between the Group’s staff members and engineers and those of startups from around the world. The two-day event showcased unique innovations to be potentially incorporated into future vehicles following evaluation of their commercial feasibility by the Group. Vehicles embedded with diverse future-oriented solutions as well as prototypes of solutions were on display, offering an interactive opportunity for experiencing and imagining new possibilities of future automobiles. The Open…

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Hyundai hosts 2020 Open Innovation Lounge exhibition

5 mins read

The FINANCIAL — Hyundai Motor Group (the Group) organized the 2020 Open Innovation Lounge exhibition at its headquarters in Seoul on Nov. 16-17, featuring inventive new technologies and solutions spawned through joint collaboration between the Group’s staff members and engineers and those of startups from around the world. The two-day event showcased unique innovations to…

Samsung and KT deployed 5G SA and NSA common core network in Korea

4 mins read

The FINANCIAL — Samsung Electronics and KT Corporation (KT) announced they have successfully deployed Korea’s first 5G Standalone (SA) and Non-Standalone (NSA) common core in KT’s commercial network. KT will commercially launch its SA network when 5G SA-capable devices become available in the market. Samsung’s common core will run in KT’s Mobile Edge Computing (MEC)…

Nokia research says that 5G is thought to add $8trn to global GDP by 2030

9 mins read

The FINANCIAL — 5G-enabled industries have the potential to deliver $8trn in value to the global economy by 2030 according to new research from Nokia and Nokia Bell Labs. The 5G Business Readiness Report surveys 5G adoption among businesses around the world, providing a cross-sector view of the path to full 5G deployment. This landmark report from…

90% of recovered coronavirus patients experience side-effects, study says

4 mins read

The FINANCIAL — Preliminary study by South Korea shows that 90% of COVID-19 recovered patients reported side-effects. There are 5,762 recovered patients in South Korea and 16.7% of them participated in the survey. 879 people said that they were suffering at least one side-effect from coronavirus disease. The study comes as health officials are raising concerns about the long-term…

Georgia remains on EU’s updated safe country list

6 mins read

The FINANCIAL — Following a review under the recommendation on the gradual lifting of the temporary restrictions on non-essential travel into the EU, the Council updated the list of countries for which travel restrictions should be lifted. As stipulated in the Council recommendation, this list will continue to be reviewed regularly and, as the case may…

60% of North Koreans live in absolute poverty – higher than ever thought

2 mins read

The FINANCIAL -- The share of people living in absolute poverty in North Korea is higher than once thought, making it one of the poorest countries on Earth, new research from Vienna University of Economics and Business reveals.…

Apple, Nike and other retailers announced closing many or all of their stores

5 mins read

The FINANCIAL – Many retailers announced that they are closing their doors until at least the end of March to prevent the spread of the coronavirus. Apple will be closing all of their retail stores outside of Greater China. The most effective way to minimize risk of the virus’s transmission is to reduce density and…

Airbnb: 40% drop in bookings and loss of $276.4 million

4 mins read

The FINANCIAL — Airbnb Inc’s bookings in major cities across the world have plunged. People are deciding to cancel travel plans because of the coronavirus outbreak. Also, there is an increasing number of travel restrictions being put in place around the world. Some online travel companies have already issued warnings. Expedia, which runs sites such…

Airlines’ shares plunges as coronavirus spreads

5 mins read

The FINANCIAL — Shares of airlines and travel companies around the world plunged Monday due to fears about the spread of the coronavirus. The International Air Transport Association warned last week that the virus would inflict a $1bn hit on airline industry’s revenues. Korean Air cabin crew worker tests positive for coronavirus. EasyJet dropped 16.4…

Venice Carnival cancelled due to coronavirus fears

4 mins read

The FINANCIAL — The last two days of the Venice Carnival have been cancelled because of an outbreak of coronavirus. Three people in Venice have tested positive for the viral disease. The Middle East was also on high alert as Iran announced eight people had died from the virus. Europe confronted its first major outbreak…