SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
US Stock Futures Rise on Iran Peace Deal Hopes as SpaceX Debuts After Record IPO 
Changchun Targets EV Growth as China’s Auto Industry Consolidation Accelerates 
Coupang Hit With Record $409 Million Fine Over Data Breach Affecting 33 Million Users 
Gold Prices Slide Toward Second Weekly Loss as Fed Rate Hike Expectations Weigh on Market 
Asian Stocks Slide as Tech Selloff Deepens and US-Iran Conflict Escalates 
Meta AI Strategy Faces Challenges as Zuckerberg Admits Mistakes in Internal Memo 
South Korea Signals Possible Interest Rate Hike as Inflation Remains Elevated 
GM and Peak Energy Partner to Advance Sodium-Ion Battery Technology for Grid Storage 
ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 
Asian Stocks Surge as Middle East Peace Hopes Lift Markets; SpaceX IPO Shatters Records 
Asics Considers Onitsuka Tiger Spinoff as Luxury Sneaker Brand Expands Globally 
Kremlin Says New EU Sanctions Won’t Hurt Russian Banks 
Sigma Healthcare Shares Slide Amid Preliminary Boots Acquisition Talks 
Exxon Mobil Set to Appoint Alex Volkov as Global Trading Chief 
OpenAI May Slash AI Service Prices Amid Growing Rivalry With Anthropic 
New Zealand Manufacturing Slips Back Into Contraction in May 
Samsung and LG have reportedly agreed to offer paid leave for their employees who received the COVID-19 vaccination. The news was revealed on Wednesday, May 12.
The paid leave for workers in S. Korea
As per Yonhap News Agency, Samsung Electronic's decision was announced just a day after the local labor union made a request for time off after receiving the shot. The absence for the reason of inoculation will also be a paid one.
Then again, the paid leave will only be a day and this is the time when an employee is scheduled for the coronavirus vaccination. It was mentioned that if the worker experienced some effects after the shot, Samsung agreed to add two more days of paid leave.
It was reported that LG Group was the very first major company in South Korea to grant the request for the paid leave related to the needed inoculation. But there is a bit of difference for the leaves as LG is giving a day off for two days, with or with no side effects after receiving the vaccine.
It was added that LG is also allowing its subsidiaries to extend the days of paid leave if they see it necessary. Other major firms such as Hyundai Motor and SK Group are already reviewing if they can also implement a paid leave for their workforce.
Arirang News reported that the South Korean government recommended the vaccination holiday scheme last month, and urged companies to adopt this system. And now, LG and Samsung have positively responded to the recommendation.
LG and Samsung affected by the raging pandemic in India
Meanwhile, Samsung and LG Electronics have production lines in India and as the country is currently experiencing a worst-case scenario, they have reportedly suffered great damage already. The lockdowns and extreme COVID-19 crisis in India have affected the production works of the companies.
Moreover, there is a big decline in demand for home appliances and gadgets in India, one of LG and Samsung’s biggest consumers in the electronics markets. This lowered their profits to an unfortunate degree.
Finally, Korea Joongang Daily reported that LG has already suspended its operation in India since May 10. As for Samsung, it is still running its factory in the same region but the number of workers significantly decreased.
