New railroad at Hongik University entrance, runs to Daejang district in Bucheon / Korea Economy
A plan to extend the Hongdaewon Line will be promoted in the Daejang District of Bucheon, the third new city. The Hongdaewon Line is a 16.3km long line connecting Sangam and Hongik University entrances through Hwagok-dong, Gangseo-gu, Seoul from Wonjong, Bucheon, Gyeonggi-do. It was included in the 3rd national rail network construction plan in 2016, but the project did not receive momentum due to problems such as business feasibility. However, there is a growing expectation that Hyundai E&C will take over this project by proposing to the Ministry of Land, Infrastructure and Transport. If the project is confirmed through the government’s private investment eligibility survey, transportation conditions in the western part of the metropolitan area, including Daejang District, are expected to improve significantly.
Yes24 Offline No. 1’Gangnam Branch’ closed… Disappearing Bookstores / E-Daily
Yes24, the number one internet bookstore under Hanse Yes24 Holdings, has entered the mid-to-large scale after five years of entering offline used bookstores in 2016. This is because the Gangnam branch, the first store that was named as the idol group’s’Fan Signing Holy Land’, has announced the end of business. As it is a place with great symbolism, it attracts attention as to whether it will be a signal for changes in channel strategy in the future.
Chinese CATL surpassed LG Energy Solutions to retake the world’s No. 1 battery / major press
As the Chinese electric vehicle market recovers from the corona shock, Chinese battery manufacturer CATL has surpassed LG Energy Solutions to become the world’s number one battery market. Three domestic battery companies, including LG Energy Solution, Samsung SDI, and SK Innovation, ranked in the top 5 global battery market share. According to market research firm SNE Research on the 4th, CATL ranked first with a 24.2% market share in the ranking of battery usage for electric vehicles (EV, PHEV, HEV) sold worldwide from January to November last year. CATL gave a leading position in LG Energy Solutions from January to October last year, but regained the top spot as the Chinese electric vehicle market recently recovered.
Last year, domestic sales surpassed 1.6 million units in 18 years… Exports decreased by 17% / major press
Last year, the domestic sales of five domestic automobile companies, including Hyundai Motor Company, Kia Motors, GM Korea, Renault Samsung and Ssangyong Motors, recorded the highest in 18 years. Despite the spread of the coronavirus, the government’s individual consumption tax reduction policy showed strong auto sales. However, as exports fell sharply, the total domestic and overseas sales did not reach 7 million units.
Building a hydrogen charging station in Seosomun Annex of Seoul City Hall / Money Today
It has been confirmed that the city of Seoul is pushing ahead with a plan to build a hydrogen charging station by demolishing the CNG charging station located in Seosomun Office. It is to build the first hydrogen charging station in Sadaemun, the core area of Seoul. According to local governments on the 4th, the city will secure 3.7 billion won through a budget change this year to build a hydrogen charging station at the Seosomun Office. It’s about 200kg per day, enough to charge about 40s. If the business progresses rapidly, it is expected that a hydrogen charging station will be built in the Seosomun Office in the first half of this year.
Discipline of 208 loan companies…a signal of serial insolvency / Seoul Economic Daily
It was found that more than 200 loan companies were punished by the Sanctions Deliberation Committee of the Financial Supervisory Service in a pile. It is unusual for lenders with more than three digits to go to sanctions at once. There are also concerns that if the legal maximum interest rate is cut from the second half of this year, the insolvency of lenders, whose profitability has deteriorated, could be revealed.
20 billion Ponji Scam, GRS Investment Advisory CEO arrested… Business suspension’withdrawal’ / News 1
The representative of GRS Investment Advisory (hereinafter referred to as GRS) was eventually arrested on charges of committing the Ponji fraud as a bait for high profits. The financial authorities demanded that the representative be dismissed, and for the GRS, it took measures for three months to suspend all operations. However, recovery of damage to investors has not yet been achieved. According to the financial investment industry and the police on the 4th, the Seoul Suseo Police Station arrested GRS representative Kang Mo, 47, at the end of last year. It is known that charges of violating the law (fraud) related to aggravated punishment for specific economic crimes have been applied. The police are currently focusing on securing recruits for another suspect. The suspect is reportedly a former representative of the GRS.
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