The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Mar. 23.
Four dead as wildfires rage in South Korea
Wildfires that broke out across the southern regions of South Korea over the weekend have burned more than 4,050 hectares (approximately 10,000 acres) of forest, an area roughly equivalent to 5,000 soccer fields, leaving at least four people dead, 10 injured, and forcing more than 1,500 residents to evacuate, according to government officials. The fires began on March 21 in Sancheong County, South Gyeongsang Province, and spread to Uiseong County in North Gyeongsang Province the following day. Authorities have mobilized 50 helicopters and 1,356 personnel to contain the blaze. The Ministry of the Interior and Safety vowed to continue evacuations and accelerate containment efforts.
Nextrade expands stock offerings to include Samsung, SK Hynix
Starting March 24, retail investors will be able to trade blue-chip stocks like Samsung Electronics and SK Hynix on Nextrade, South Korea’s first alternative trading system. The platform is expanding its list of tradable stocks from 110 to 350, including 200 KOSPI-listed and 150 KOSDAQ-listed companies, such as Samsung Biologics, LG Energy Solution, Hyundai Motor, Kakao, and Krafton. Top KOSDAQ stocks like EcoPro BM and Rainbow Robotics are also included, though stocks flagged by regulators, like PharmaResearch, will be restricted from trading. Nextrade, which launched earlier this month, offers trading outside regular market hours, and the addition of high-volume stocks is expected to boost activity on the platform.
Samsung chief attends China Development Forum, meets Xiaomi chairman
Samsung Electronics Chairman Lee Jae-yong attended the China Development Forum (CDF) on March 23, marking his first appearance at the high-level event in two years. Hosted by the China Development Research Foundation, more than 80 global business leaders, including Apple CEO Tim Cook, SK Hynix CEO Kwak Noh-jung, and executives from companies such as AMD, Qualcomm, Siemens, and Aramco, attended the event. Ahead of the forum, Lee visited Xiaomi’s electric vehicle plant and met with Chairman Lei Jun to discuss potential collaboration in automotive semiconductors, displays, and batteries as Xiaomi expands into the EV market.
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