New infections under 50 for 2nd day, PM urges youth to stop clubbing

South Korea reported fewer than 50 new cases of COVID-19 for the second day in a row on Tuesday, offering a degree of relief, as authorities urge young people to maintain physical distancing to stem the contagion. Korea counted 47 new patients and six more deaths from the previous day, pushing the respective tallies to 10,331 and 192 as of Tuesday at 12:01 a.m., according to the Central Disaster and Safety Countermeasures Headquarters. The capital area added 14 and local epicenter Daegu not

Social AffairsApril 7, 2020

NGC to highlight traditional art performers online

Keeping up with the trend of online streaming for art performances amid the COVID-19 pandemic crisis, the National Gugak Center plans to support traditional art performers by streaming their performance videos online. The center will offer performance opportunities for 61 artist individuals and teams. Though the center is currently conducting its “Daily Gugak” series -- releasing a video clip that focuses on one instrument or art form at a time every weekday -- this time, the list

PerformanceApril 7, 2020

(G)I-dle sings self-confidence in ‘I Trust’

(G)I-dle returned with new album Monday, sending message of self-confidence. Six-piece act (G)I-dle’s third EP is fronted by lead track “Oh My God,” a dynamic urban hip-hop track that switches between various rhythms and melodies. Written and composed by bandleader Soyeon, the dynamic song alludes self-confidence, the main topic of the album, to complex feelings of love. “I believe that our (team) confidence comes from believing in myself,” explained Soyeon duri

K-popApril 7, 2020

Are chaebol owners making use of stock plunge for succession plans?

Owners of large South Korean conglomerates have been buying their low-priced shares amid the stock plunge caused by the coronavirus pandemic, raising questions as to whether they are taking advantage of the situation for their succession plans. Over the past two months, Korean stocks have tumbled and major firms have lost their market value by a third. Amid the stock market crash, the repurchase of treasury stocks has been on the rise. The cumulative spending on treasury stocks amounted to aro

IndustryApril 7, 2020

German firms in Korea face revenue drop over COVID-19

German companies doing business in South Korea are concerned about the impact of the COVID-19 pandemic on their business operations but are likely to retain their local workforce, a survey showed Tuesday.  The Korean-German Chamber of Commerce and Industry released the results of a survey measuring the impact of COVID-19 on its member companies. It was conducted from March 19 to April 2, and 82 companies took part.  According to the chamber, one-third of respondents said the curre

IndustryApril 7, 2020

Seegene’s market cap surges amid virus pandemic

Market capitalization of the nation’s top 100 companies has fluctuated widely amid the novel coronavirus outbreak, while that of bio-related companies surged, according to a local corporate tracker Tuesday. Korea CXO Institute surveyed the market cap of more than 2,300 listed companies in the first quarter, noting that the combined market value of the top 100 companies fell 17 percent from 1,218 trillion won ($994 billion) on Jan. 2 to 1,011 trillion won on March 31. Despite the stock

IndustryApril 7, 2020

S. Korea ranks 2nd in Q1 shipbuilding orders

South Korea received the second largest amount of new shipbuilding orders in the first quarter of the year after China, with global shipbuilding orders plunging 71 percent amid the spreading coronavirus outbreak, industry data showed Tuesday. South Korea won new shipbuilding orders totaling 360,000 compensated gross tons (CGTs) in the January-March period, accounting for 16 percent of overall orders around the globe totaling 2.33 million CGTs, according to the data from Clarkson Research Servi

IndustryApril 7, 2020

US again flies spy plane over Korean Peninsula

A US surveillance aircraft has flown over South Korea, an aviation tracker said Saturday, on an apparent mission to monitor North Korea following a series of major weapons tests by the communist nation last month. The US Air Force's RC-135W Rivet Joint was spotted in skies above the eastern province of Gangwon and Gyeonggi Province near the capital city of Seoul, Aircraft Spots tweeted without specifying the exact time of the operation. It uploaded a similar post Saturday about detecting thi

DefenseApril 7, 2020

[Newsmaker] From drive-thru markets to flower challenges, virus-hit businesses go creative

Small businesses and local governments in South Korea are testing out creative ideas as they seek to overcome a slump stemming from the new coronavirus that has infected more than 10,000 here. In the southern cities of Gimhae and Seosan, farmers have set up drive-thru markets to sell vegetables and fruit, taking a cue from the government's successful drive-thru virus screening centers. A package of 11 kinds of vegetables is being sold for 20,000 won (A social media challenge aimed at helping

ConsumerApril 7, 2020

BOK to deliver additional $4.4b to banks via US currency swap this week

The Bank of Korea (BOK) said Tuesday that it will offer $4.41 billion to local banks this week in its second round of dollar funding using its bilateral currency swap arrangement with the US Fed that is designed to help prevent a foreign exchange liquidity crunch. The central bank held an online auction to provide up to $8.5 billion in seven-day debt and 84-day loans. Bids undershot the BOK target of $7 billion in 84-day loans and $1.5 billion in seven-day loans. "A total of $4.41 billi

MarketApril 7, 2020

S. Korea's Bigung guided rocket system passes Pentagon's testing scheme

South Korea's Bigung guided rocket system has passed a comparative test by the US defense department for foreign weapons, paving the way for exports to the US market, the arms procurement agency said Tuesday. The 70-millimeter rocket system hit all 10 targets and met all US requirements during the Foreign Comparative Testing (FCT) session held in South Korea in October that was attended by a panel of experts from the US Department of Defense, according to the Defense Acquisition Program Admini

DefenseApril 7, 2020

BOK kicks off pilot program for digital currency

South Korea’s central bank said Monday that it has launched a pilot program for a central bank-issued digital currency. “We do not see the immediate need to issue a digital currency in the near future, due to the considerable level of cash demands here and the relatively stable payment market operations,” the Bank of Korea said in a release. “But we should be able to make responsive moves, should environments change drastically at any time, so we shall undertake tech

EconomyApril 7, 2020

[News Focus] European nations sweep top 10 in infection rate

SEJONG -- Though the US has the highest number of confirmed cases of COVID-19, 10 European countries have been hit harder in terms of the number of infected people relative to the population. The Korea Herald compared 50 countries around the globe where the number of novel coronavirus infections exceeded 1,400 as of 11 p.m. April 6 (South Korean time). The paper’s calculations were based on epidemiological data compiled by Johns Hopkins University. Ten of the 50 countries had more

Social AffairsApril 7, 2020

S. Korea's tax revenue dips due to economic slump

South Korea's state tax revenue dropped from a year earlier in the first two months of 2020, the finance ministry said Tuesday, amid a slump caused by a steady decline in exports and problems stemming from the new coronavirus outbreak. In the January-February period, state tax revenue came to 46.8 trillion won ($38.3 billion), down 2.4 trillion won from the same period last year, according to the report from the Ministry of Finance and Economy. The amount represents 16.1 percent of this year'

EconomyApril 7, 2020

[Behind the Wheel] New Sorento’s spaciousness threatens other family SUVs

Kia Motors’ mid-sized sports utility vehicle Sorento means a lot to the automaker, considering that its SUV lineup ranging from Niro to Mohave has begun to receive attention with popularity of Sorento. The first Sorento was launched in 2002, with the third generation of the car released in 2014. Six years later, an all-new Sorento was unveiled on March 17. The Korea Herald had the chance to test drive the fourth-generation Sorento on March 23 on a 25 kilometer route from Yeouido in Seou

MobilityApril 7, 2020

USFK reports another virus case, total at 20

US Forces Korea (USFK) reported another coronavirus case from its air US Forces Korea (USFK) reported another coronavirus case from its air base in the city of Pyeongtaek on Tuesday, bringing the total number of USFK-related infections to 20. It is the third COVID-19 case confirmed at Osan Air Base in Pyeongtaek, some 70 kilometers south of Seoul, near Camp Humphreys, where the USFK's headquarters is located, USFK said in a Facebook post. Other details were not immediately ava

DefenseApril 7, 2020

Actor So Ji-sub, TV presenter Cho Eun-jung tie the knot

Actor So Ji-sub and former TV presenter Cho Eun-jung have tied the knot, So’s agency, 51k, said Tuesday. According to the agency, the 42-year-old actor and his girlfriend of two years registered their marriage Tuesday and are now officially husband and wife. “In respect to the couple’s wish to cherish their happiest and most important moment quietly, the wedding ceremony will be held in private with only family members present,” the agency said in a statement. “

EntertainmentApril 7, 2020

N. Korea to convene parliamentary meeting Friday amid coronavirus outbreak

North Korea is set to convene a session of the Supreme People’s Assembly, the country’s rubber-stamp parliament, on Friday, spawning speculation about what message it will deliver amid the global novel coronavirus pandemic.  It will be the 14th SPA’s third session, following the last in August. Around 700 officials will arrive in the capital for the meeting, during which the North revises its constitution, reviews the budget and conducts personnel reshuffles, among othe

North KoreaApril 7, 2020

New virus cases fall below 50 for 2nd day, but vigilance urged

South Korea reported fewer than 50 new cases of the novel coronavirus Tuesday for the second straight day, but health authorities warned against complacency. South Korea has recorded around 100 or fewer daily new cases for more than three weeks, but health authorities still remain on high alert over cluster infections at churches and hospitals, as well as new cases coming from overseas. The 47 new cases, detected Monday and unchanged from 47 new cases a day earlier, brought the nation's total

Social AffairsApril 7, 2020

Cheong Wa Dae still seeks Xi Jinping's 'early visit' to S. Korea: official

South Korea said Tuesday it is continuing consultations with China on an "early visit" here by President Xi Jinping, dismissing a news report that the two sides have retracted a related accord amid the prolonged coronavirus outbreak. Xi has agreed to travel to South Korea in the first half of the year for talks with President Moon Jae-in. The exact schedule has not been announced yet. The Chosun Ilbo, a major Seoul-based daily, reported that Xi would postpone the trip to the latter

Foreign AffairsApril 7, 2020