Samsung SDI president takes aim at overseas future energy market

Samsung SDI President Jun Young-hyun said Wednesday he would focus on pioneering overseas energy storage systems market and investing in the company’s second battery plant in Hungary. At the general shareholders meeting held in Seoul, Jun Young-hyun handpicked ESS and electric vehicle batteries as the company’s main agenda. “This year, the focus is on overseas ESS business and investment in the second EV battery plant in Hungary,” Jun said at the meeting. The batte

IndustryMarch 19, 2020

S. Korea unveils stronger measures against foreigners who ignore virus guidance

South Korea on Thursday unveiled stronger measures against foreigners here who reject health guidance despite being suspected or confirmed patients of the new coronavirus. The justice ministry said the government will cancel visas or stay permits of foreign nationals living here who are suspected or confirmed of having COVID-19 but do not follow requests to be quarantined, tested and treated. The measure, which went into effect Thursday, will be valid regardless of whether the person has rece

Social AffairsMarch 19, 2020

N. Korea again extends school break over coronavirus

North Korea has again extended the vacation of kindergartens and schools across the country over coronavirus concerns, the unification ministry said Thursday. Late last month, the North said that it had postponed the opening of kindergartens and schools, without mentioning exact dates, as part of the country's stepped-up efforts to prevent an outbreak of the new coronavirus in the country. "Recently, North Korean state media reported that school breaks were extended once again," the

North KoreaMarch 19, 2020

S. Korean carmakers face shutdown of overseas plants amid virus fears

South Korean carmakers are likely to shut down their overseas plants as their global peers are planning to close factories as a precaution against the rapid spread of coronavirus. Local carmakers already suffered production losses due to a lack of parts when their suppliers in China suspended plants due to an extended Lunar New Year holiday amid fears of COVID-19 infections. The worsening outbreak is now dealing a further blow to the automobile industry as Ford Motor Co., General Motors Co.

MobilityMarch 19, 2020

Ministry designates 2 border cities as independent operators of aid projects for N. Korea

The unification ministry said Thursday that it has designated two border cities as independent operators of humanitarian aid projects for North Korea as part of efforts to bolster cross-border exchange and cooperation. The designation of Paju and Goyang, both located near the country's border with North Korea, brought the number of independent North Korea assistance project operators to six, though such projects are unlikely to move forward anytime soon as inter-Korean relations have been stal

North KoreaMarch 19, 2020

Top military officer to convene emergency meeting over series of security breaches

Joint Chiefs of Staff (JCS) Chairman Gen. Park Han-ki called an emergency meeting of major military commanders on Thursday in the wake of a series of civilian intrusions into military bases, the defense ministry said. The meeting slated for later in the day is to devise and implement more "pragmatic and fundamental measures" to prevent any recurrence based upon what was discussed during such a meeting presided over by Defense Minister Jeong Kyeong-doo on Tuesday, according to spokes

DefenseMarch 19, 2020

Korean manufacturers on full alert over Europe's virus lockdown

  South Korean companies operating in Europe are on high alert after the European Union (EU) imposed a 30-day entry ban on travelers outside the bloc to stem the spread of the novel coronavirus, industry sources said Thursday.  The European Union (EU)has decided to shut its borders and enforce travel restrictions on non-EU citizens after the region accounted for one-third of global COVID-19 cases.  South Korean firms in Europe have beefed up their quarantine measures and are m

IndustryMarch 19, 2020

S. Korea's exports of masks up 2,200% in Feb. amid coronavirus spread

  South Korea's exports of protective masks surged nearly 23 times in February from a year earlier amid the global outbreak of the new coronavirus, data showed Thursday, although the volume is likely to plummet this month in line with the export ban. Outbound shipments of textile articles, which include masks, came to $157 million in February, up from $6.85 million a year earlier, according to the data compiled by the Korea International Trade Association. It also more than doubled from $7

EconomyMarch 19, 2020

Military reports no additional cases of new virus for 8th day

The military has reported no additional cases of the new coronavirus among service personnel for the eight day in a row, the defense ministry said Thursday. The total number of COVID-19 infections in barracks remained unchanged at 38, including 14 personnel -- 10 in the Army and four in the Air Force -- who have fully recovered from the new virus, according to the ministry. Of the total infections, 21 were reported in the Army, 13 in the Air Force, two in the Marine Corps and one each in the

DefenseMarch 19, 2020

N. Korea bars people from using public transportation without wearing masks

North Korea has banned people from using public transportation without wearing masks as a precautionary measure to block the outbreak of the new coronavirus, state media reported Thursday. North Korea has not reported any confirmed COVID-19 outbreak, but it has reportedly put thousands of people under medical supervision for potential infection and taken various preventive measures, including blocking its border and enforcing strict quarantines. The Rodong Sinmun, the official newspaper of th

North KoreaMarch 19, 2020

Foreigners sell stocks in S. Korea and other emerging markets

Foreign investors have sold a large sum of stocks in South Korea and other emerging markets largely due to concerns over the coronavirus pandemic, data showed Thursday. Offshore investors sold a net $5.8 billion worth of South Korean stocks in the first two weeks of March, according to data by brokerage Yuanta Securities Co. In comparison, foreign investors sold a net $6.7 billion worth of Taiwanese stocks during the cited period, followed by Indian stocks worth $3.8 billion and Brazilian stoc

MarketMarch 19, 2020

[Newsmaker] First-ever strong wind warning to be issued for Seoul

South Korea's weather agency on Thursday issued a strong wind advisory for the entire nation, calling for concerted preparedness for typhoon-class winds and forest fires throughout the day. The Korea Meteorological Administration (KMA) said wind gusts of up to 90 kilometers per hour, or 25 meters per second, will blow across the nation, due to the difference in air pressure between cold low pressure over North Korea and warm high pressure southeast of the peninsula. The KMA put the entire nat

PoliticsMarch 19, 2020

S. Korea sees uptick in new virus cases as new clusters pop up

South Korea saw an uptick in daily new infections of the novel coronavirus on Thursday, as new clusters of infection continued to pop up in the virus-hit southeastern city of Daegu as well as Seoul and neighboring areas. The 152 new cases, which were detected Wednesday and reversed four days of double-digit daily new infections, brought the nation‘s total number of infections to 8,565, the Korea Centers for Disease Control and Prevention (KCDC) said. 　 　Wednesday’s number is simila

Social AffairsMarch 19, 2020

Moon to hold 1st emergency economic council session against coronavirus impact

  President Moon Jae-in plans to convene an inaugural "emergency economic council" session Thursday to discuss ways to minimize the fallout of the coronavirus. Moon has urged his economy team to explore "aggressive special measures" to prop up the economy amid what he calls the "unprecedented multi-crises" arising from the COVID-19 pandemic. He told related officials not to quibble over policy precedents. Moon and other participants in the Cheong Wa Dae meeti

PoliticsMarch 19, 2020

S. Korea ready to step in to ease credit crunch

 South Korea said Thursday it will take steps to counter a potential credit crunch in the capital market amid growing market jitters caused by the outbreak of the new coronavirus. "The government will swiftly take market stabilization steps under its contingency plans if needed, so businesses will not face difficulties in securing necessary funds," Vice Finance Minister Kim Yong-beom said after a meeting in Seoul to review the country's financial condition. The official said the

EconomyMarch 19, 2020

Gold funds lose luster on coronavirus scare

Gold funds in South Korea have posted dismal returns over the past month amid falling gold prices due to the coronavirus scare, data showed Thursday. Local gold funds with assets of 1 billion won ($796,000) or more registered an average return of minus 12.45 percent over the last one-month period, according to the data from FnGuide. They outperformed stock investment funds over the cited period, but the performance failed to live up to expectations, given the metal's nature as a traditional s

MarketMarch 19, 2020

S. Korea imposes special quarantine measures on all arrivals from abroad

South Korea started imposing special quarantine measures for all new arrivals from abroad on Thursday as it guards against imported cases of the novel coronavirus, the country's health authorities said. South Koreans and foreign nationals alike are subject to the strict measure, and all entrants to the country must undergo fever checks at air terminals and sea ports, according to the health authorities. Those who have a cough, a sore throat and other symptoms believed to be related to COVID-1

Social AffairsMarch 19, 2020

White House task force sees S. Korea at end of epidemic curve

WASHINGTON -- The White House coronavirus task force said Wednesday it is seeing South Korea and China at the far end of their epidemic curves and studying the two countries to predict patterns in the United States. Dr. Deborah Birx, the coordinator of the task force, offered the assessment during a press briefing at the White House. Moments earlier, President Donald Trump said he was invoking the Defense Production Act, which would give him authority to get industries to increase output of me

Foreign AffairsMarch 19, 2020

S. Korean chartered flight heads home carrying 80 people evacuated from coronavirus-hit Iran

A South Korean government-arranged chartered flight departed for Seoul on Thursday, carrying 80 people evacuated from Iran due to the worsening outbreak of the new coronavirus. The Asiana Airlines plane, with 74 Koreans and six Iranian family members aboard, took off from Al Maktoum International Airport near Dubai at 8:05 a.m. (Korean time), the foreign ministry in Seoul said. It is scheduled to arrive at Incheon International Airport on Thursday afternoon. The evacuees had earlier been air

Foreign AffairsMarch 19, 2020

‘Chest imaging can reveal infection in some virus-negative patients’

Experts say chest CT scans and X-rays can reveal COVID-19 infections that go undetected by RT-PCR, which is currently the chief method for determining if a person has the disease. Speaking at a conference organized by the Korean Federation of Science and Technology Societies last week, radiologist Do Kyung-hyun of Asan Medical Center in Seoul said the chest radiographs of otherwise asymptomatic patients sometimes revealed signs of infiltration in their lungs. “Such radiological abnormal

Social AffairsMarch 18, 2020