Luxury Labels Help Malls Weather Coronavirus Pandemic
Department stores have managed to weather some of the devastation of lockdown with sales of luxury labels, for which Koreans' appetite is undiminished. Only nine out of 67 department stores managed to increase their profits amid the coronavirus pandemic. The others suffered because a growing preference for online shopping was exacerbated by lockdown.
Parents Plead for Schools to Reopen
Noise Complaints in Apartments Soar in Lockdown
Renault Samsung Offers Voluntary Redundancy
Skating Coach Gets Decade in Jail for Sexual Abuse
KOSPI Soars to Yet Another Record
Delivery Workers' Strike Averted
NATIONAL/POLITICS
False Blizzard Warning Wastes Billions
Warnings of a snowstorm that never materialized cost the Seoul Metropolitan Government a massive amount of money. Data show that the city spent W4.38 billion on gritting to clear the roads of snow and ice this month alone.
NORTH KOREA
Kim Jong-un Sacks Economic Officials in Massive Reshuffle
North Korean leader Kim Jong-un has fired six of eight vice premiers in charge of the economy and 21 of 45 minister-level officials. The massive reshuffle was rubberstamped by the Supreme People's Assembly.
BUSINESS
Ssangyong Can't Pay Workers' Wages
Troubled SUV maker Ssangyong told its labor union on Thursday it cannot pay the wages of 4,800 workers this month. Ssangyong's liquidity shortage is so bad that some parts suppliers are demanding to be paid in cash instead of promissory notes.