July 13, 2021 09:43
Coronavirus infections are spreading more quickly outside the locked-down Seoul metropolitan region. The proportion of infections in areas outside of the capital region has risen from 22.1 percent to 27.1 percent over the last weekend.
At this rate, health authorities warned Monday that daily infections could surpass 2,000 by mid-August.
Health officials fear a continued surge as people flee the capital region to spend their summer holidays in other parts of the country where lockdown is less stringent. If this situation continues, the total number of cases could rise to 2,331 by mid-August, until they start to drop, the Korea Disease Control and Prevention Agency warned. But if the toughened lockdown in the Seoul metropolitan region proves effective, the number of daily cases could drop to around 600 by late August, it added.
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Korean Covid-19 Test Maker Prepares For IPO Amid Revenue Leap, Founder To Become Billionaire
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COURTESY OF SD Biosensor
Cho Young-sik, founder of Covid-19 test maker SD Biosensor, is set to become a billionaire this month, when the South Korean company is expected to list its shares on the Korea Exchange.
SD Biosensor is offering 12.4 million shares at a price range of 45,000 won to 52,000 won apiece. At the midpoint of that range, the deal could raise 603 billion won (about $530 million) and value the company at 4.9 trillion won. The subscription period is to start July 8 and end July 9. The company says it plans to use the proceeds to expand production lines, diversify its product portfolio and expand its presence in Europe and South America.