OB’s flagship Cass wins 2020 Korea Wine and Spirits Award

Cass, the leading domestic beer brand produced by Oriental Brewery, has won the 2020 Korea Wine and Spirits Award for five consecutive years. In January this year, OB’s Cass won the top prize at 2020 Korea Brand Hall of Fame, presented by the Institute for Industrial Policy Studies, the company said Wednesday. Cass is OB’s flagship lager beer here first introduced in 1994. Its market share in the local beer market in 2019 reached 36 percent with 1.19 trillion won of sales, accor

IndustryMarch 18, 2020

Over 2,500 shows, exhibitions canceled this year over coronavirus

More than 2,500 performing art shows and exhibitions have been canceled for the first four months of this year, resulting in heavy financial damage to the arts industry, a report showed Wednesday. According to the report by the private Federation of Artistic & Cultural Organization of Korea, a total of 2,511 concerts, performing art shows and art exhibitions have been called off in the January-April period due to coronavirus outbreaks. The direct financial damage from the show cancellat

Social AffairsMarch 18, 2020

S. Korean religious groups postpone Buddha's birthday, Easter celebrations over virus spread

The South Korean Buddhist community and an umbrella group of Protestant churches said Wednesday they will postpone upcoming Buddha's birthday and Easter celebrations to join the nationwide fight against the novel coronavirus. "The ritual to celebrate Buddha's birthday, scheduled to be held on April 30, will be put off to May 30," the Association of Korea Buddhist Orders, whose members include the country's biggest Jogye Order, said in a press conference in Seoul. "The Lotus La

Social AffairsMarch 18, 2020

‘Proxy advisers KCGS and ISS have lost objectivity on Hanjin’

Major shareholders of logistics giant Hanjin KAL on Wednesday rebelled against proxy advisory firms Korea Corporate Governance Service and Institutional Shareholder Service for their decision to support the extension of Chairman Cho Won-tae’s term. The group consists of his elder sister and former Korean Air Vice President Cho Hyun-ah, KCGI -- local activist fund, Hanjin’s biggest shareholder with 18.68 percent stake -- and construction firm Bando Construction. “The latest d

MarketMarch 18, 2020

Coronavirus fears dent corporate bond deals

Coronavirus fears in the financial market are quashing bond investors’ appetite for investment-grade bonds issued by South Korean companies, dragging on their plans to raise capital. From Friday to Wednesday, all corporate bonds of three companies were undersubscribed in the respective institutional tranches in Korea. This stems from the bond price hike along with monetary easing stance at home and abroad. Bond yields, which move inversely with bond prices, were on a downtrend in Kore

MarketMarch 18, 2020

EU to ban most foreign travelers for 30 days to curb virus

BRUSSELS (AP) — European Union leaders agreed Tuesday to immediately impose travel restrictions on most foreigners entering Europe for at least 30 days to limit the spread of the new coronavirus, and to set up fast-track transport lanes to keep vital medical equipment, food and goods flowing smoothly inside the bloc. As the virus case count in Europe climbed to over 60,000 and with more than 2,700 people dead, nervous national governments have introduced quick-fix measures such as parti

World NewsMarch 18, 2020

[Herald Interview] Portrait of two underdogs and their vain dreams

With methamphetamine worth 2 billion won ($1.6 million), the vain dreams of a young man to stay in South Korea and another young man to flee the country start. The portrayal of how the two hopeless young men try to fly but ultimately fall in the film “Dreamer” is so dry and realistic that it feels too cruel on the characters and the many dreamers they resemble. The film features two dreamers: North Korean defector Geun-soo who has just arrived in the South and is trying to settle i

FilmMarch 18, 2020

[Newsmaker] Desperate crisis for shopkeepers

While industry sectors across the board in Korea are struggling to handle the economic impact of COVID-19, the nation’s 5.48 million self-employed and small business owners are among those suffering most. Oh Myong-seok, who has been running a 24-hour diner in Yongsan, Seoul, for seven years, is experiencing its worst-ever slump, as the store has seen its daily customer figures cut in half. “For night times from 9 p.m. to 9 a.m., revenue has been halved, for day times it has been

IndustryMarch 18, 2020

Buoyed by Parasite wins, Nongshim’s Chapaghetti wins global consumers

Korean instant noodle maker Nongshim has become one of the greatest beneficiaries of big Oscar winner “Parasite,” thanks to the global “Chapaguri” popularity. Chapaguri -- translated as “ram-don” in the English subtitles -- is a hybrid instant noodle dish mixed with Chapaghetti black bean instant noodles and soup-based Neoguri ramen, both of which are manufactured by Nongshim. According to Nongshim, sales of Chapaghetti -- long a staple in Korean kitchen

IndustryMarch 18, 2020

Celebrities around the globe join #SafeHands challenge

WHO Director-General Tedros Adhanom Ghebreyesus is nominating high-profile people around the world to participate in WHO’s “SafeHands” challenge on Twitter, including K-pop boy band BTS. So far, 62 Twitter accounts have been targeted, with the list of nominees ranging from Hollywood actor Leonardo DiCaprio to 17-year-old Swedish environmental activist Greta Thunberg. Of the 62 nominees, 15 had tweeted videos of themselves washing their hands as of Wednesday at noon. Phumzile

PerformanceMarch 18, 2020

WINNER to drop 3rd full-length album next month

K-pop boy band WINNER will drop its third full-length album, "Remember," next month, in its return to the music scene, its agency said Wednesday. Ahead of the official album launch on April 9, the band will release lead single "Hold" on March 26, according to YG Entertainment. The album is WINNER's first full-length album since "Everyday," released in 2018. Including "Hold," the new album carries a total of 12 tracks. This is likely to be WINNER's las

K-popMarch 18, 2020

Korea to inject W50b to help virus-hit transport sector

The South Korean government is injecting some 50 billion won ($40.4 million) to help the virus-hit transport industry here, by exempting fees and delaying payment to cover the businesses’ losses caused by a sharp drop in passengers.  In a meeting for crisis management measures presided by the country’s deputy Prime Minister and Finance Minister Hong Nam-ki on Wednesday, the government confirmed a set of measures to support industries hit by the coronavirus outbreak, primarily

MobilityMarch 18, 2020

Apartment price gap in Seoul widens

  The price gap between apartments in areas south and north of the Han River has increasingly widened last month, data showed Wednesday.  In February, the average price per pyeong (3.31 square meters) for apartments in 11 areas of Gangnam-gu, southern Seoul surpassed 40 million won ($32,372) while apartments in 14 areas in Gangbuk-gu, northern Seoul, recorded 27 million won ($21,851), according to data released by real estate information provider 10000-lab.  The apartment pric

MarketMarch 18, 2020

Banking groups under profit pressure by rate cut

South Korea’s major banking groups are operating under emergency systems to deal with impact by the central bank’s record-low key rate on the financial and forex markets. The current 0.75 percent interest rate has been putting pressure on the commercial banks’ profit margins, analysts say, which in turn is likely to affect related stock prices amid the general shareholders meeting season this month. Commercial banks are the flagship business units of banking groups here. &l

MarketMarch 18, 2020

S. Korean bands push K-pop horizon on Billboard 200

Since K-pop band BTS' first No. 1 on the Billboard 200 albums chart in 2018, other K-pop boy bands have entered the top five of the albums chart, pushing the horizon for South Korean pop in the global music market. This week, K-pop boy band NCT 127's new album, "NCT #127 Neo-Zone," debuted at No. 5 on the Billboard 200 chart dated March 21, becoming the fourth K-pop band to score a top-five hit on the albums chart. Also this week, BTS' latest album, "Map of the Soul: 7,"

K-popMarch 18, 2020

S. Korea dials up virus testing with hospital 'phone booths'

A South Korean hospital has introduced phone booth-style coronavirus testing facilities that allow medical staff to examine patients from behind the safety of a plastic panel, the latest innovation in the country's drive to track down infections. The row of four booths -- which use negative air pressure to prevent harmful particles from escaping outside -- stand under a tented shelter outside the H Plus Yangji Hospital in Seoul. The hospital dubs them the "Safe Assessment and Fast Evalua

Social AffairsMarch 18, 2020

Doosan selected as nuclear framework supplier for UK military

The United Kingdom’s Ministry of Defense has selected Doosan Babcock, the British subsidiary of South Korea’s Doosan Heavy Industries & Construction, as one of its nuclear technical support providers. According to the Defense Infrastructure Organization last Wednesday, three suppliers have been selected to join Britain’s nuclear technical support provider framework. One is a consortium comprising Doosan Babcock and two other companies, KBR and Assystem. The other support

IndustryMarch 18, 2020

Majority of Koreans support Seoul’s COVID-19 response

A majority of South Koreans approve of their government’s efforts to contain the novel coronavirus that has infected more than 8,000 people and killed 84 here. According to the latest survey, released Tuesday by local polling firm Realmeter, 58.4 percent of respondents were happy with the government’s response to the pandemic, while 39.9 percent disagreed. The approval rate showed a 3 percentage point rise since the same survey came out six weeks ago, though the increase fell with

Social AffairsMarch 18, 2020

Hospital chief contracts COVID-19; vice health minister in self-isolation

A hospital chief who is part of South Korea’s central coronavirus response team was diagnosed with COVID-19 on Wednesday, forcing a number of officials into self-isolation, including Vice Health Minister Kim Gang-lip. Lee Yeong-sang, president of the Bundang Jesaeng Hospital, tested positive for COVID-19, the hospital said. He is one of the country’s key medical chiefs in charge of overseeing response to COVID-19. His hospital, which identified its first infection on March 5, has si

Social AffairsMarch 18, 2020

LG Display edges out Japan Display in automotive display market

LG Display nabbed the top seat in 2019’s automotive display market, edging out Japan Display, IHS Markit data showed Wednesday. LG Display recorded $1.6 billion revenue in the automotive display segment last year, accounting for 20.1 percent of market domination. The company manufactures center information displays for cars, dashboard, and rear seat entertainment display panels. Japan Display, which had previously been ahead in the game, marked $1.1 billion revenue in 2019 and took u

IndustryMarch 18, 2020