Tuesday, May 4, 2021
Round-up of important news from major Korean dailies and international media today
The Korea Post ( http://www.koreapost.com/ )
“President of Azerbaijan realizes the aspirations, ideals of the people, boosts prestige in the world”
“Today, the Republic of Azerbaijan under the leadership of President Ilham Aliyev as an independent, sovereign and democratic country, brings into reality the aspirations and ideals of the Azerbaijan Democratic Republic with its good and effective management, socio-economic and human capital development as well as its growing role and prestige in international relations.”
So said Ambassador Ramzi Teymurov of the Republic of Azerbaijan in Seoul at an exclusive interview with The Korea Post media, 36 years old this year and publishing 3 English and 2 Korean-language news publications.
Then said Ambassador Teymurov, “If the founders of the Azerbaijan Democratic Republic were alive, they would have been proud of today’s Republic of Azerbaijan: He quoted the National Leader Heydar Aliyev as saying: “Azerbaijan’s independence is eternal and irrevocable.”
“PANKO boasts of no labor disputes for 12 years in Vietnam”
"PANKO Corp., a global clothing manufacturer, is a Korean company without labor disputes for 12 years since its establishment in Vietnam in 2002, despite the different culture and social environment," said Choi Young-joo, chairman of PANKO Corp.
"We are currently operating three local subsidiaries, including PANKO Vina, in Vietnam, but we are proud to have maintained good relationships with workers based on mutual trust and no labor disputes," PANKO Chairman Choi, who is also the third chairman of the Korea Vietnam Friendship Association, told The Korea Post Media.
The following is a summary of an interview with PANKO Chairman Choi, who is actively engaged in clothing manufacturing business in Vietnam as part of a special feature to commemorate Vietnam's 46th anniversary of the Unification Day on April 30, 2021.
Question: Would you tell me about the background and activities of PANKO Corp.?
Answer: PANKO Corp. started as a small clothing manufacturing and exporting company in 1984 and has grown into a global company with a total of 16,000 employees at home and abroad, six production bases in Vietnam and Myanmar and annual exports of some $350 million.
The Vertical Production Base, built in Ho Chi Minh and Da Nang, Vietnam, boasts the world's best status in terms of size, production capacity, and technology by having state-of-the-art production systems that handle knitting/dyeing/sewing processes.
Artist Sion Khan paints the faces of world leaders, one million people
Artist Sion Khan (Bae Hee-kwon in Korean name) stands out from other artists in Korea and around the world in the fact that he has drawn the faces of leaders of the United States and many other countries of the world, including international personalities as well as Korean celebrities.
Artist Khan is also well known for his successful recovery of health from the terminal stage of gastric cancer by drawing smiling faces of all the different countries around the world as well as in Korea.
His works are in ink and color, which are strangely harmonized in the eyes of many art critics.
“The energy made by his brush has the power to brighten and clear the faces of people who are tired of life” is the comment commonly shared among many art critics.
At one time in the past, Artist Khan had his exhibition entitled “Painting a Million Faces for Peace” held at the 'Hand-made Korea Art Fair' at the Gangnam COEX in Seoul.
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KBS ( http://world.kbs.co.kr/english/news/ )
Blinken Stresses Diplomacy, Urges N. Korea to Engage
U.S. Secretary of State Antony Blinken has highlighted diplomacy as a focus of the Joe Biden administration’s policy on North Korea, urging Pyongyang to seize the opportunity and return to the negotiating table.
Blinken on Monday discussed the new North Korea policy Washington recently completed reviewing on the sidelines of the Group of Seven(G7) foreign and development ministers’ meeting in the U.K., describing it as a “very clear policy that centers on diplomacy.”
Speaking at a joint press conference with U.K. Foreign Secretary Dominic Raab, he also called it “a calibrated, practical approach” aiming for practical progress that increases the security of the U.S. and its allies.
Noting the U.S. will watch the North’s words and actions in the coming days and months, the U.S. secretary hoped the country would take the opportunity to engage diplomatically and see if there are ways to move forward toward the complete denuclearization of the Korean Peninsula.
Moon Names Fmr. Vice Justice Minister New Prosecutor General
President Moon Jae-in has nominated former Vice Justice Minister Kim Oh-soo as the new Prosecutor General.
The presidential office said on Monday that President Moon approved Justice Minister Park Beom-kye’s request earlier in the day to choose Kim among the four finalists.
Kim had served as a deputy to the previous three former justice ministers under the Moon administration - Park Sang-kee, Cho Kuk and Choo Mi-ae. He was shortlisted last Thursday by a recommendation committee led by former Minister Park Sang-kee.
The other three finalists for the post were Koo Bon-seon, head of the Gwangju High Public Prosecutors’ Office, Institute of Justice President Bae Seong-beom and Acting Prosecutor General Cho Nam-kwan.
US Says Its N. Korea Policy Aimed at Solutions, Not Hostility
Anchor: North Korea issued statements condemning the U.S. a day after it completed a months-long review of its North Korea policy and after U.S. President Joe Biden called the North a serious threat in his first address to Congress. In response to such statements, U.S. National Security Adviser Jake Sullivan stressed that Washington’s policy towards the North is aimed at solutions and not hostility.
Our Bae Joo-yon has more.
Report: In an interview with ABC's "This Week” on Sunday, U.S. National Security Adviser Jake Sullivan said Washington is prepared to engage in diplomacy with North Korea. He stressed that the U.S.’ North Korea policy is not aimed at hostility, but solutions, and ultimately, the complete denuclearization of the Korean Peninsula.
Sullivan said that the U.S. will work on practical measures that can help make progress towards achieving that goal
He said that rather than all-for-all or nothing-for-nothing, a more calibrated, practical and measured approach will stand the best chance of moving the ball down the field towards reducing the challenge posed by the North’s nuclear program.
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Yonhap ( http://english.yonhapnews.co.kr )
New cases back to 400s on fewer tests amid low vaccine supply
South Korea's daily new virus cases fell back to the 400s on Monday as fewer people took new virus tests over the weekend with concerns over another round of the pandemic still worrisome amid a low vaccine supply.
The country reported 488 more COVID-19 cases, including 465 local infections, raising the total caseload to 123,728, the Korea Disease Control and Prevention Agency (KDCA) said.
The country added one more death, raising the death toll to 1,834.
The fatality rate fell to 0.69 percent from March 1 to May 1, sharply down compared with 1.49 percent from Jan. 20, 2020, to May 1, 2020, and with 2 percent during the Nov. 10-Jan. 25 period, health authorities said.
The daily caseload has been in the 600s for the past six days.
From midnight to 6 p.m. Monday, the country added 409 more cases, up 24 from the same time the previous day, according to health authorities and local governments. The daily tally announced Tuesday is expected to be in the 500s.
Consumer price growth at near 4-year high in April
South Korea's consumer prices grew at the fastest pace in almost four years in April on higher prices of farm and oil goods, data showed Tuesday, indicating that Asia's fourth-largest economy may face increasingly inflationary pressure.
The consumer price index rose 2.3 percent on-year in April, accelerating from a 1.5 percent gain the previous month, according to the data compiled by Statistics Korea.
It marked the fastest on-year gain since August 2017, when the price index climbed 2.5 percent.
Compared with a month earlier, the index grew 0.2 percent last month, following a 0.1 percent on-month rise in March. Core inflation, which excludes volatile food and oil prices, rose 1.1 percent on-year last month.
Blinken urges N. Korea to engage, saying U.S. seeks practical progress
U.S. Secretary of State Antony Blinken urged North Korea on Monday to return to the negotiating table, saying his country seeks to make practical progress toward the denuclearization of the Korean Peninsula through diplomacy.
The call comes after North Korea threatened the U.S. will face "worse and worse crisis."
"I hope that North Korea will take the opportunity to engage diplomatically and to see if there are ways to move forward toward the objective of complete denuclearization of the Korean Peninsula," the top U.S. diplomat said in a joint press conference with his British counterpart, Dominic Raab.
Blinken is on a trip to London, where he is attending the Group of Seven (G7) Foreign and Development Ministers' Meeting.
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The Korea Herald ( http://www.koreaherald.com )
South Korea eyes production hub for COVID-19 vaccines
President Moon Jae-in on Monday stressed South Korea’s possible role as a production hub for COVID-19 vaccines, pledging efforts to ramp up local production, including securing more licensing deals with global vaccine makers.
“Our nation, boasting the world’s second-largest production capacity of biomedicines, is getting renewed attention as a potential global hub for vaccine production,” Moon said in an urgent COVID-19 response meeting with related government offices.
“Three vaccines are already being produced or plan to be produced here, with talks ongoing for more deals. If South Korea becomes the global production hub, that would greatly help boost vaccine supplies both at home and abroad.”
All-new LX Holdings sets sail under Koo Bon-joon’s lead
LX Holdings, which has spun off from LG Group, on Monday held an inaugural event and board meeting to officially mark its business kickoff and name Koo Bon-joon as its first CEO and chairman.
The newly-launched business group is expected to exert all of its effort into phasing out of the LG brand in order to gain an independent position in the market.
“Today, we sail off under the name LX, hopeful, yet also a little tense, over what may be awaiting us down the road,” Koo was quoted as saying in an email address to employees.
He also called on staffers to “not to be afraid of changes,” reminding them that several of LX Group’s businesses already have a domineering position in the market.
Song Chi-ho, former CEO of LG International, also joined the holdings company as CEO, along with other executives coming from various key LG affiliates, officials said in a release.
“For this latest personnel appointment, we sought to select officials who may efficiently lay the foundation of (the new) holdings company, based on their high-profile experience in other LG affiliates,” an official of the company said.
Will FM Chung meet with Japan’s Motegi at G-7 in London?
South Korean Foreign Minister Chung Eui-yong is in London to attend the Group of Seven meeting, and all eyes are on Chung to see whether he finally gets to hold talks with his Japanese counterpart, Toshimitsu Motegi, and set the stage for a thaw in bilateral ties.
Chung flew to London on Sunday to attend the gathering of G-7 foreign and development ministers, which will last through Wednesday. During his stay, Chung is scheduled to hold a series of bilateral talks on the margins, with meetings with his US, UK, EU and Indian counterparts confirmed so far.
A trilateral talk between Chung, Motegi and US Secretary of State Antony Blinken is also expected Wednesday, with North Korea’s nuclear issue likely to top the agenda.
If realized, it will be the first time Chung and Motegi meet in person since the South Korean diplomat took office in February.
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The Korea Times ( http://www.koreatimes.co.kr )
Blinken urges North Korea to engage, saying US seeks practical progress
U.S. Secretary of State Antony Blinken urged North Korea on Monday to return to the negotiating table, saying his country seeks to make practical progress toward the denuclearization of the Korean Peninsula through diplomacy.
The call comes after North Korea threatened the U.S. will face "worse and worse crisis."
"I hope that North Korea will take the opportunity to engage diplomatically and to see if there are ways to move forward toward the objective of complete denuclearization of the Korean Peninsula," the top U.S. diplomat said in a joint press conference with his British counterpart, Dominic Raab.
Blinken is on a trip to London, where he is attending the Group of Seven (G7) Foreign and Development Ministers' Meeting.
On Sunday (Seoul time), North Korea said the U.S. will find itself in a "very grave situation."
Pyongyang took issue with U.S. President Joe Biden's recent address to Congress, in which he said the U.S. will work with its allies to denuclearize the Korean Peninsula through "diplomacy, as well as deterrence."
Bill and Melinda Gates announce they are getting divorced
The Microsoft co-founder and his wife said they would continue to work together at the Bill & Melinda Gates Foundation, the world's largest private charitable foundation.
In identical tweets, they said they had made the decision to end their marriage of 27 years.
''We have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives,'' they said in a statement. ''We ask for space and privacy for our family as we begin to navigate this new life.''
Bill Gates was formerly the world's richest person and his fortune is estimated at well over $100 billion. How the couple end up settling their estate and any impact on the foundation will be closely watched, especially after another high-profile Seattle-area billionaire couple recently ended their marriage.
Amazon CEO Jeff Bezos and MacKenzie Bezos finalized their divorce in 2019. MacKenzie Scott has since remarried and now focuses on her own philanthropy after receiving a 4% stake in Amazon, worth more than $36 billion.
Undiplomatic immunity
In the past few weeks, Korea has seen a number of diplomatic faux pas, to say the least. Last Saturday it was revealed that two employees of the Pakistani embassy were allegedly caught shoplifting; strangely, they were accused of stealing chocolates and a hat, which doesn't seem worth risking a diplomatic career over. Much bigger news, however, was the story of the Belgian ambassador's Chinese wife, Xiang Xueqiu, who was accused of slapping a worker at a clothes shop in Seoul.
Her disdain towards the staff is visible even through the blurred CCTV footage. Accompanied by a picture of the employee's shockingly reddened face (how hard that slap must have been!), the news caused an almighty fury, which was further fanned by the fact that Xueqiu is Chinese.
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HanKyoReh Shinmun ( http://english.hani.co.kr )
Moon's approval rating at all-time low of 29%
South Korean President Moon Jae-in speaks at a ribbon-cutting ceremony Thursday for a new automobile factory in Gwangju. (Yonhap News)
A new poll found that just 29% of South Koreans approve of Moon Jae-in's job as president, the first time his approval rating has dropped below 30%. The poll's outcome suggests that an increasing number of people in their 20s are defecting from Moon because of his government's policy toward real estate and cryptocurrency.
Now that Moon's support has fallen below 30% — crashing through a psychological barrier for the "lame duck" period frequently seen toward the end of a presidency — there are concerns that Moon's policy initiatives will lose even more momentum.
When Gallup Korea asked 1,000 voters around the country from Tuesday to Thursday to rate Moon's job performance, 29% responded positively and 60% negatively. The poll had a margin of error of 3.1 percentage points and a 95% confidence level.
Moon's positive rating was down 2 points from the previous week (31%), reaching the lowest point since he took office. His rating has been sliding downward since the poll in the first week of March (40%), but this was the first time it fell below 30%.
Biden’s North Korea policy represents more practical, gradual approach
A hundred days after coming to office, US President Joe Biden has unveiled the outline of his policy toward North Korea. Biden said he will take a pragmatic approach aimed at the complete denuclearization of the Korean Peninsula, avoiding both the “strategic patience” of the Obama administration and the “all or nothing” attitude of the Trump administration.
North Korea promptly released a pair of statements criticizing the US government. The two sides have begun to move at last.
White House Press Secretary Jen Psaki told reporters Friday that the Biden administration has completed its review of North Korea policy.
“Our goal remains the complete denuclearization of the Korean Peninsula,” Psaki said.
“With a clear understanding that the efforts of the past four administrations have not achieved this objective, our policy will not focus on achieving a grand bargain, nor will it rely on strategic patience. Our policy calls for a calibrated, practical approach that is open to and will explore diplomacy with the DPRK,” Psaki said, using an acronym for North Korea’s official name.
Time for S. Korea, N. Korea, US to pursue conversation over confrontation
Conditions on the Korean Peninsula are growing more and more opaque. As soon as the Biden administration said it had concluded its review of North Korea policy, the North issued sharp criticism of the US. The North also threatened to “look into corresponding action” against South Korea because of propaganda leaflets reportedly launched by defector groups.
It would be worrisome if the US’s new North Korea policy failed to bring the North to the table for dialogue and instead served to raise military tensions. It’s time for South Korea, North Korea, and the US to dedicate their energy to resuming dialogue.
White House Press Secretary Jen Psaki said Friday that the Biden administration has finished its review of North Korea policy. US government officials told the media that the new policy will involve a practical and gradual approach, rather than the “grand bargain” of the Trump administration or the “strategic patience” of the Obama administration.
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Chosun Ilbo ( http://english.chosun.com )
Koreans Shun Overseas Postings Amid Pandemic
Well-paid overseas postings, long the dream of many Korean workers, have quickly lost their luster due to the coronavirus pandemic.
The Korea Federation of Small and Medium Business recently polled 300 exporters, and 84 percent of respondents said they have problems with their overseas operations, 38 percent of them because they have trouble relocating staff abroad.
One staffer in a big IT company in Paju, Gyeonggi Province, was sent to Chongqing, China for four months last year, and the experience turned into a nightmare. He was confined to his hotel room and office for three months and had to go into quarantine for another month when he came home.
"In the past, people used to fight to get posted overseas, but now such assignments are shunned," he said. "People these days don't even want to be sent to the U.S. or Europe."
Young People Rush to Buy Homes Before Prices Rise Further
More than half of young Koreans want to buy a home this year before prices rise even further, a straw poll suggests.
The government has promised to supply more apartments in order to quell jitters among young Koreans and prevent them from rushing into the overheated market, but the laws of supply and demand seem hard to beat.
The Chosun Ilbo polled 407 people who attended a real estate expo last week and asked them when they want to buy their own home. Eighty-two of the 153 respondents in their 20s and 30s said in the second half of this year, reflecting jitters over apartment prices felt in that age group.
Asked what is the biggest obstacle to buying a home, 52 percent of all respondents ticked housing loan restrictions, 27 percent the tax burden and nine percent the fear that the housing market could crash.
Samsung Still Makes Less Money Per Phone Than Apple
Apple accounted for almost half of the total revenues from global smartphone sales in the first quarter of this year even though rival Samsung sold more phones.
Samsung sold 17 million more phones than Apple, but revenues amounted to just 40 percent of what the U.S. rival achieved.
According to market researcher Counterpoint Research last Friday, global smartphone revenues totaled US$113 billion in the first three months of this year, surpassing the $100 billion mark for the first time.
Apple accounted for 42 percent, Samsung for 17.5 percent, OPPO for 8.25 percent, Vivo for eight percent and Xiaomi for 7.6 percent.
But Samsung had a 21.7 percent market share thanks to the popularity of the Galaxy S21 series and took back the No. 1 spot lost to Apple in the fourth quarter of 2020. Apple ranked second with a market share of 16.8 percent. Samsung sold an estimated 77 million smartphones in the first quarter and Apple 60 million.
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The Dong-A Ilbo ( http://english.donga.com/ )
Pyongyang’s Seoul-bashing over publication of Kim Il Sung memoir
North Korea’s propaganda outlet inveighed against the latest controversy over the publication of “With the Century,” a memoir of North Korea’s founder Kim Il Sung, in South Korea, labeling it “Hysterical craze” and “Fuss from impure forces.”
“Abnormal developments are unfolding in the South, which are far from common-sensical,” said Urimizokkiri, the North Korean propaganda website, on Monday about the controversies around the publication of the 8-volume memoirs of Kim Il Sung in South Korea. “The legal circles and the conservative media in South Korea are making a fuss and showing a hysterical craze over the publication of the memoirs, citing “breach” of national security law and “act of benefiting enemies”, the website added.
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3.98 million households to receive employment and child care grant by August
Up to three million won of employment grant and 700,000 won of child care grant will be provided to 3.98 million low-income households until the end of August. The eligible households must have earned salary or business income from last year and meet the income and wealth requirements.
The National Tax Service announced on Monday that a letter on applications for employment and child care grant was sent to 3.98 million households that had salary or business income last year. Total annual income levels to be eligible for employment grant are as follows: between six million won and 30 million won for a couple with double income; below 30 million won for a couple with single income; and below 20 million won for a single-person household. Child care grants will be provided to those with less than 40 million won in total annual income.
A victim of Japanese wartime sexual slavery dies at age 92
A South Korean victim of Japanese wartime sexual slavery died on Sunday at the age of 92. The Korean Council for Justice and Remembrance for the Issues of Military Sexual Slavery by Japan (Korean Council) said on Monday that the woman, identified only by her last name Yoon, passed away at around 10 p.m. on Sunday. Her name will be kept anonymous and the funeral will be held privately at the will of the bereaved family.
Born in North Chungcheong Province in 1929, she was taken to Japan in 1941 at the age of 12 to serve as a sex slave while protesting against Japanese soldiers who were assaulting her grandfather. She underwent many hardships in Japan, including being forced to work as a sex slave in several areas such as Shimonoseki and Hiroshima.
With her death, the country has only 14 survivors left among 240 Koreans registered with the government as victims of Japanese wartime sexual slavery.
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The KyungHyang Shinmun ( http://english.khan.co.kr/ )
Guarantee Leave and Severance Pay for Domestic Workers: Shedding Light on Blind Spots in the Labor Law for the First Time in 70 Years
Domestic workers, who have provided labor in the blind spot of the labor bills for nearly 70 years, will be guaranteed paid leave, annual leave, severance pay, and social insurance.
On April 29, the parliamentary Environment and Labor Committee held a plenary session and passed a bill on better employment conditions for domestic workers. The latest bill is a mix of proposals by the government, Democratic Party of Korea lawmaker Lee Su-jin, Justice Party lawmaker Kang Eun-mi, and People Power Party lawmaker Lim Lee-ja. If the bill is passed by the Legislation and Judiciary Committee and by lawmakers in the National Assembly next month, it will be enforced a year after it is publically announced.
According to the bill, the government can certify businesses meeting certain requirements as domestic service providers. The certified businesses must directly hire their workers and clearly state the wages, minimum working hours, days of paid leave and annual leave when signing an employment contract with the workers. The companies must guarantee at least 15 hours of work a week.
Young People Account for 41% of Single-Person Households in Seoul, “We Can’t Even Dream of Buying a New Apartment”
Yi Yeong (34), who lives in Seocho-gu, Seoul, has been living in a multiplex housing near Nonhyeon Station, near her workplace since late 2019. She made a 150 million won deposit and pays a monthly rent of 350,000 won for her home. Yi said, “I was lucky to get the contract on the house when it came up for urgent sale, but I always wonder whether I will have to live like this my whole life.” Yi has been a single-person household for a decade since she found employment, and the assistance she wants most from the government is housing support.
Yi said, “I have been putting money into a housing subscription savings account for nearly fifteen years since I was in college, but I can’t even dream of buying a new apartment because I am a one-person household. Besides I can’t even afford to buy a house in Seoul with my salary.” She said, “Public housing for young people and long-term housing leases are only temporary measures, but the government keeps telling us to live on a long-term lease in public housing for young people. I don’t think they know how cruel it sounds to ‘dirt spoons’ like me, who have nowhere to turn to, when they tell us to work hard and earn a lot of money while living in the public housing for young people and buy my own house.” She added, “If I could buy a home by being frugal and saving up a million won every month, I would, but even that is impossible.”
Summers 20 Days Longer, Winters 22 Days Shorter on the Korean Peninsula
For the last thirty years, summers in South Korea have been extended by 20 days, while winters have grown shorter by 22 days. The number of extremely hot days, with heatwaves when the daily temperature peaked at over 33 degrees Celsius and the daily low remained over 25 degrees, increased and the number of cold waves and freezing temperatures decreased. The number of rainy days decreased, but the nation experienced stronger rainfall, so the summer rainfall actually increased.
On April 28, the Korea Meteorological Administration analyzed data from meteorological observations from 1912 to 2020 (109 years) in six locations nationwide--Seoul, Busan, Incheon, Mokpo, Daegu, and Gangneung--and announced the results claiming that the climate in South Korea has changed. The number of extreme weather, such as heatwaves, tropical nights, and localized torrential downpour, has increased threatening the “everyday health” of the people, not to mention putting them at risk of natural disasters.
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Maeil Business News Korea ( http://www.pulsenews.co.kr/ )
Pipe dream for IPO jackpots draw Korean 30s, 40s men into OTC stocks
Thirty- and forty-something Korean men are engrossed in over-the-counter (OTC) stock trade in dream of IPO jackpots like Coupang that went public on the New York Stock Exchange in March.
According to Korea Financial Investment Association on Sunday, daily turnover of Korea’s OTC market dubbed K-OTC so far this year averaged 6.7 billion, up 31.8 percent from 5.1 billion won last year. K-OTC, established in 2014, is operated by the Korea Financial Investment Association as an official OTC trading market.
Mom-and-pop investors are flocking to private OTC platforms such as Seoul Exchange and Stockplus. The number of subscribers to Stockplus launched in 2019 surpassed 500,000 recently and the number of monthly active users with Seoul Exchange that began service in December last year jumped from 10,000 to 150,000 last month.
S. Korea’s state firms sank deeper into the red in Covid-19 year
The red in the bottom line of South Korean state enterprises ballooned in the year of Covid-19 as their elephantine operations took heavy hit from dip in energy output and standstill in travel industry.
According to All Public Information in One (ALIO), a state website offering data on the government and public organizations on Sunday, 11 out of 36 state firms reported net loss last year.
State-owned casino resort Kangwon Land which had to close down and restrict business amid Covid-19 spread suffered the most, incurring a net loss of 275.9 billion won ($246.9 million) in 2020 compared with 334.7 billion won in net profit in 2019.
Lee family of Samsung sweep top four in stock-rich list after inheritance
The Lee owner family behind Samsung Group dominated top four in stock-rich rank in Korea after they shared the holdings of Lee Kun-hee who died in October as the country’s wealthiest man with stock value of $20 billion.
According to an analysis conducted by CXO Research Center on stock value held by 90 family members of Korea’s 60 business groups on Monday, Jay Y. Lee, de facto chief of Samsung Group and vice chairman of Samsung Electronics Co. is the most stock-rich in Korea as of Friday’s closing price.
His stock worth jumped from 8.9 trillion won ($8 billion) in the end of March to 15.6 trillion won in April after he came into the holdings of his father whose stock wealth worth 20.4 trillion won was evenly divided among the four members according to the legal ratio except for the holding in Samsung Life Insurance.
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Azerbaijan: www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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