Samsung to get it in yuan

SOUTH Korean technology giant Samsung Electronics will begin trading the Chinese renminbi, also called the yuan, in the Seoul Market starting 16 March, the company announced yesterday.

Samsung suffered during this past year, reporting a profit before tax of 27.88 trillion Korean won (£16.66bn), a 27 per cent drop from 2013.

South Korea’s business relationship with China is becoming increasingly friendly.

A free trade agreement between the two nations awaits possible ratification this year.

Beijing is also preparing to launch its China international payment system, which would allow the yuan to be trading more freely across the globe, Reuters reported.

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