60 foreigners infected with coronavirus in S. Korea

A total of 60 foreign nationals have been infected with the novel coronavirus so far in South Korea, government data showed Monday, as the country sees a growing number of cases stemming from overseas. According to data provided by the Korea Centers for Disease Control and Prevention to The Korea Herald, the majority, or 38, of the total cases involve Chinese nationals, followed by seven from the United States. There were two cases each from Vietnam, Mongolia, Thailand, Australia and Argen

Social AffairsMarch 16, 2020

[News Analysis] Housing market boom may snap under COVID-19

In addition to Moon Jae-in government’s policy actions so far to curb housing prices, the escalating fallout of COVID-19 may daunt South Korea’s overheated real estate market, observers noted Monday. The key question is whether the impact of the pandemic will escalate to a global financial crisis. Last week, the Bank of Korea pointed out that COVID-19 has been exerting a more direct and drastic impact on the stock market, compared to past major epidemics. Throughout the outbre

MarketMarch 16, 2020

Jung Hae-in says ‘A Piece of Your Mind’ is enough to start love

Iconic romantic male lead actor Jung Hae-in will take on the role of an artificial intelligence programmer, Ha-won, who has loved one woman for a long time in the upcoming tvN series “A Piece of Your Mind.” The Korean title of the drama -- “Half of Half” -- comes from Jung’s line in the drama “Even half of the half of her (his crush) heart is enough.” The drama will tell four different stories of unrequited love of different characters. “The d

TelevisionMarch 16, 2020

SKC sells off chemical business, secures W1tr for new investment

South Korean chemical firm SKC said Monday it has secured about 1 trillion won ($814.9 million) by liquidating its stake in its chemical business to expand investment in mobility and chip businesses. SKC said Monday it has transferred a 49 percent stake in its chemical business to Petrochemical Industries Company in Kuwait and received 565 billion won Tuesday. The move will create a joint venture SK picglobal and both companies will cooperate to establish a production capacity of 100 metric

IndustryMarch 16, 2020

[Newsmaker] River of Grace Community Church sprays saltwater into worshippers’ mouths

River of Grace Community Church in Seongnam, Gyeonggi Province, is alleged to have sprayed saltwater into the mouths of people attending church services on March 1 and 8, which may have contributed to the cluster infection of at least 46 people with the novel coronavirus. “It is very unfortunate. As we were reviewing the CCTV footage from River of Grace Community Church, we found that members of the congregation were sprayed saltwater into their mouths one-by-one because of misinformati

TechnologyMarch 16, 2020

Helping hand to relieve overloaded pharmacies in mask distribution

Seoul, along with other local municipalities, is offering a helping hand to pharmacies struggling with increased workloads as they scramble to hand out government-rationed protective masks. Since Monday a week ago, when nationwide rationing began, pharmacists have juggled the rationing responsibilities and their full-time job of dispensing prescriptions and counseling patients. The rationing system involves a long line of work: Pharmacies have to check customers’ identification, answer

Social AffairsMarch 16, 2020

Kakao founder Kim Beom-su disposes of Kakao’s first headquarters building

Kakao founder and Chairman Kim Beom-su sold a building located in Seoul’s Yeoksam-dong in Gangnam-gu for 38.2 billion won ($31.2 million) last year, according to local reports Monday. The building was used as Kakao’s first headquarters. Kim purchased the building for 29 billion won in 2011 together with Chun Yang-hyun, executive chairman of Cocone. In 2013, Kim bought Chun’s share in the building for 17 billion won and became the sole owner. Kakao’s headquarters moved

TechnologyMarch 16, 2020

[Herald Interview] Women of 40-somethings who still dream, challenge

Despite the COVID-19 pandemic, the film “Lucky Chan-sil” is maintaining a steady performance in the box office, just like the protagonist who endures unexpected hardships in the film. While the release of many films have been postponed due to the historically low turnout at cinemas due the spread of the highly contagious respiratory illness, director Kim Cho-hee said she decided to open her latest film as scheduled because of her belief, which she says is also the main message of &

FilmMarch 16, 2020

Seoul deports al-Qaida-linked Russian

Korean authorities on Monday said a Russian linked to al-Qaida posing as a refugee had been expelled.  The Russian national, who was not identified, served as an instructor for fighters of the Nusra Front, an al-Qaida-linked jihadist group in Syria, according to the Seoul Metropolitan Police Agency.  The instructor was arrested on Jan. 15 in South Korea at a residence and was immediately deported to Russia. At the time, the militant remained silent and refused to answer any question

Social AffairsMarch 16, 2020

Korean scientists develop high-filter, washable masks

Scientists from the Korea Advanced Institute of Science and Technology said Monday that they have successfully developed nanofabric mask filters that can withstand at least 20 washes and used for a month. Masks have become a high priority in South Korea since the outbreak of COVID-19. Their scarcity and the opportunistic profiteering that ensued have made the government put a cap on exports, and ration the filter mask purchases to two per person on a weekly basis. With more people resorting t

IndustryMarch 16, 2020

Kakao sells part of stake in Hanjin KAL

South Korean internet giant Kakao has sold part of its stake in Hanjin KAL, having previously been expected to support Cho Won-tae in a family feud over the control of Hanjin Group, according to industry sources Monday. KaKao’s stake in Hanjin KAL, the holding entity of Hanjin Group, is now lower than 1 percent, down from a previous 2 percent, according to the sources. Kakao said that the sale of several stock items was a way to counter potential uncertainty in the market amid the coro

IndustryMarch 16, 2020

BOK slashes rate to record low 0.75%, after emergency Fed move

Amid growing concerns over COVID-19, South Korea’s key interest rate plunged below 1 percent for the first time in history as the central bank cut it by 50 basis points to a record low of 0.75 percent. The decision came hours after the US Federal Reserve took the drastic step of slashing its benchmark interest rate to near zero to offset the economic fallout from the novel coronavirus. “The US Fed in recent days lowered its interest rate by 150 basis points, which was a swift mo

EconomyMarch 16, 2020

Hit musicals continue their successful run

Though COVID-19 has been pushing the performing art scene in South Korea to the brink, hit musical shows are continuing their run backed by avid fans. Popular musical show “Rebecca” wrapped up its four-month run at the Chungmu Art Center in central Seoul on Sunday. The show, now in its fifth season, opened in November and recorded sold out performances for 86 shows.   According to EMK Musical Company, an average of 92 percent of the 1,255 available seats were occupied for the

PerformanceMarch 16, 2020

Moon calls for closer cooperation among local governments in COVID-19 fight

President Moon Jae-in on Monday called for stronger cooperation among local governments in the capital and surrounding regions, saying that the success of the country’s fight against COVID-19 hinged on the region. “There remains the uncertainty that all the efforts and achievements could go back to the starting point if a large scale cluster transmission occurs, or community transmission expands quickly in the capital region,” Moon said at a meeting with heads of local gover

Social AffairsMarch 16, 2020

Innocean Worldwide expands to Singapore, Indonesia

Innocean Worldwide said Monday that it has opened new overseas offices in Singapore and Indonesia to strategically target the Asia-Pacific market.  The global marketing communication unit of Hyundai Motor Group said that the two units will help it expand outside South Korea and create synergies in global markets.  Innocean currently operates overseas offices in India and Australia. The company said the Indonesian office will respond to Hyundai Motor’s sales and marketing serv

IndustryMarch 16, 2020

[News Focus] Church services likely to lead to community spread of coronavirus

Another cluster outbreak of COVID-19 occurred near the capital, as 40 members of River of Grace Community Church in Seongnam, Gyeonggi Province, were newly confirmed with the novel coronavirus infection on Monday morning. Another person who came in contact with a church member was also confirmed Monday afternoon. The first patient at the church was confirmed on March 9, followed by a couple on Friday. On Saturday, one woman was confirmed and on Sunday, the head pastor and his wife, both asympt

CultureMarch 16, 2020

‘Do not gather in enclosed spaces,’ urges government

The government said Monday that mass gatherings could play a “pivotal role” in spurring greater community transmission of the coronavirus that causes COVID-19, as new cases linked to churches stoked concerns here. Recent cases in the metropolitan area involved gatherings, such as religious services, where people had sustained close contact in enclosed spaces and this resulted in mass transmissions, Jung Eun-kyeong, director of the Korea Centers for Disease Control, told reporters

Social AffairsMarch 16, 2020

Minor-aged coronavirus patients exceed 500

The number of minors infected with the novel coronavirus in South Korea surpassed 500 on Monday, as the government mulls further delaying the opening of schools to stem the spread of the virus. 　 The government is mainly concerned that enclosed, crowded classrooms may turn into new clusters of infections, with children and students transmitting the virus to high-risk groups in local communities. 　 The Ministry of Education is widely expected to announce the decision Tuesday, and another two-w

Social AffairsMarch 16, 2020

Foreign investors beef up shareholder activism with legal clarity

South Korea introduced a law in February to support a new form of activism by “general” equity investors, enabling minority shareholders to have a say in corporate decisions. The revision of the Capital Markets Act has offered investors legal clarity in their move to boost shareholder value and adhere to stewardship codes. So far, four foreign investors have declared they are “general” investors in eight listed companies,” so that they can be more actively engage

MarketMarch 16, 2020

Wonho says sorry to fans, explains why he left Monsta X

Wonho said he decided to leave Monsta X to save the group after past allegations of cannabis use emerged, despite having never touched drugs. The singer, who was recently cleared of all drug charges following a police investigation, got candid in a recent interview with local news site Dispatch. “I didn’t want to see Monsta X break apart because of me. I thought the group could be saved if I left the group as soon as possible.” He also apologized to fans, saying, “I pr

K-popMarch 16, 2020