[Gregory A. Maniatis, Monette Zard] COVID-19 blame game threatens us all

As the new coronavirus, COVID-19, nears pandemic status, a second scourge has followed in its path: a virulent racism that scapegoats refugees, asylum-seekers and foreigners more generally as the cause of the outbreak. This is not only false and cruel, but also dangerous. Politicizing the crisis and stigmatizing whole populations risks turning fiction into fact by stoking fear and driving the disease underground, making it more difficult to manage. Have we forgotten the central lesson of the HIV

ViewpointsMarch 8, 2020

Korean economy could shrink 1% due to coronavirus outbreak: ADB

Assuming the worst-case scenario regarding the ongoing new coronavirus outbreak, South Korea could see its GDP contract by as much as 1 percent this year, according to the Asian Development Bank. In its latest report “The Economic Impact of the COVID-19 Outbreak on Developing Asia,” the multilateral agency suggested four possible scenarios to assess the economic fallout that the fast-spreading epidemic may have on major Asian economies. The categories were classified into

EconomyMarch 8, 2020

[Newsmaker] 46 infections confirmed at apartment complex in Daegu

Forty-six residents of an apartment complex in Daegu, the city at the center of South Korea’s novel coronavirus outbreak, were confirmed to have contracted the virus. 　 All 46 confirmed patients from the apartment block were followers of a fringe religious sect and were admitted to hospitals or community treatment centers for quarantine, according to the Daegu Metropolitan Government. 　 Daegu authorities faced criticism for their failure to detect early signs of epidemiological links to

Social AffairsMarch 8, 2020

New infections drop, but Seoul on alert for new clusters

South Korean government said the country might see a slowing trend in the spread of the novel coronavirus as it reported 367 new cases of coronavirus infections Sunday, the lowest daily increase in more than 10 days. 　 Health authorities, however, were cautious about the slowing trend, saying it was too early to say the situation has got better and new clusters of infections could still emerge. 　 The total reported cases here stood at 7,313 on Sunday afternoon -- with 179 more cases since mid

Social AffairsMarch 8, 2020

[Feature] From mask factories to hospitals, military wages virus war

From mask factories to hospitals, South Korea’s 600,000-strong military is making its presence felt on every battle front of the country’s war against the coronavirus. Soldiers, officers, and military doctors and nurses have joined the government’s efforts to suppress COVID-19, which has sickened over 7,000 people and killed 50 here, upending everyday life and dealing a blow to the local economy. “Daegu and North Gyeongsang Province are the front lines. The situation is

DefenseMarch 8, 2020

Boosted by YouTube, trademark applications for media surge

With more individuals jumping on to online video platforms in recent years, Korea has seen a sharp increase in the number of related trademark applications, according to data released by the Korean Intellectual Property Office on Sunday. Last year, a total of 5,174 trademark applications within the broadcasting and communication industry were filed, marking a 57 percent increase from 3,298 cases in 2015. The number began to spike by 28.8 percent with around 4,000 cases in 2018, and saw the bi

CultureMarch 8, 2020

Virus doesn’t stop kids from going to cram schools

The new coronavirus epidemic in South Korea has led to an upheaval in school calendars across the country, with all schools ordered to suspend classes until at least March 23. But for many students here, their educational obligations extend beyond the K-12 curriculum to cram schools known as hagwons. While the government has urged the private after-school tutoring services to defer classes to join the coronavirus fight, only 36,424 of 86,435 hagwons nationwide remain closed as of Thursday, wit

Social AffairsMarch 8, 2020

Retail investors upset with uncontrolled short selling

With the nation’s stock market plummeting and investors offloading shares en masse, tens of thousands have flocked to sign online petitions calling for a ban on short selling. As of Sunday afternoon, over 49,000 Koreans have signed 10 online petitions from end-January, demanding that the short selling of local securities be abolished or at least temporarily banned when stock indexes drop over 10 percent. Short selling is a strategy of borrowing, selling and repurchasing stocks to return

MarketMarch 8, 2020

Two heads to lead Korea National Opera

With the court suspending the Ministry of Culture, Sports and Tourism‘s dismissal of the former artistic director Yoon Ho-geun, the Korea National Opera will be led by two heads for now. According to the Seoul Administrative Court’s ruling on Friday, the ministry will have to revoke its dismissal of Yoon, the former artistic director of the national troupe. Yoon was dismissed in May for hiring a staff member who does not meet the qualifications in August 2018.   The ministry

PerformanceMarch 8, 2020

Coronavirus puts Korean venture firms on edge

The coronavirus fear is increasing financial burdens on listed South Korean venture firms as they are facing more calls for cash redemption from investors. Investors in firms listed on Korea’s development bourse Kosdaq have cashed out their combined 361.3 billion won ($303.4 million) investment in mezzanine bonds -- convertible bonds and bond warrants -- from January until Friday, prior to their due maturity date, according to regulatory filings. This marked a 48.4 percent increase on-y

MarketMarch 8, 2020

Aesthetics of modern, contemporary artworks in Korea

“The Aesthetic Consciousness of Korean Modern Art” By Lee Joo-young Misulmunhwa Visual Arts Publication Though we may come across some Korean modern and contemporary artworks, not many realize the philosophies and backgrounds embedded in the artworks. The book “The Aesthetic Consciousness of Korean Modern Art,” written in Korean and published in February, digs into the common characteristics of Korea’s modern and contemporary artworks. Lee Joo-young, the head

BooksMarch 8, 2020

Shim Eun-kyung nabs best actress prize at Japanese film award

Actress Shim Eun-kyung, 26, was honored with the Japan Academy Film Prize for best actress at this year’s awards ceremony for her role in “The Journalist.” Ahead of her victory on Friday at the 43rd Japan Academy Film Prize, Shim had been nominated in January along with Nikaido Fumi, Matsuoka Mayu, Miyazawa Rie and Yoshinaga Sayuri. Upon hearing her name called out, Shim broke into tears of joy and surprise. “I did not expect to win the award, so I could not pr

FilmMarch 8, 2020

Gold trading dazzles as stock market loses sheen

In contrast with the slump in major global stock markets amid the continuing spread of the new coronavirus, gold trading in South Korea has posted stellar returns this year, local experts said Sunday. According to data compiled by Daishin Securities, gold has recorded the highest investment earnings rate so far this year. The price of a gold bar at the Korea Gold Exchange -- a private gold exchange here -- stood at 64,010 won ($53.80) per gram as of Friday, surging 13.21 percent from the end

MarketMarch 8, 2020

Incheon airport pledges ‘COVID-19 free facility’

Pledging to become a coronavirus-free airport amid the spread in South Korea, Incheon International Airport Corp. on Monday starts a full-fledged three-step temperature monitoring program on all outbound passengers. The airport said the preboarding temperature checks, which have been running on a trial basis since Thursday, will officially begin as of 9 a.m. Monday as part of an effort to make the airport coronavirus free. “As the gateway to Korea, Incheon airport will establish a rigo

MobilityMarch 8, 2020

Businesses piggyback on coronavirus crisis with corona-related trademarks

Applications to register trademarks reminiscent of the deadly novel coronavirus, or COVID-19, are on a rapid rise in Korea, according to data from the Korean Intellectual Property Office. Since the government reported the first confirmed case of the acute respiratory disease on Jan. 20, a total of eight trademarks christened “corona” have been applied for at the patent office -- from both individuals and companies.  The growth in applications of such trademarks coincided wi

MarketMarch 8, 2020

Public transportation use in Seoul sinks amid virus angst

The number of passengers on public transportation in the capital city of Seoul tumbled more than 30 percent in the first week of this month from two months earlier amid the coronavirus outbreak in the country, data showed Sunday. According to the data by the Seoul Metropolitan Government, the daily number of people who took subways and buses over the Monday-Friday period of last week decreased 34.5 from the day-to-day average in January. The pace of decrease widened from a 30.9 percent drop t

Social AffairsMarch 8, 2020

Banks undermine watchdog, reject KIKO arbitration

The Financial Supervisory Service is finding itself under mounting strain as local banks are blatantly refusing or delaying their response to its mediation proposal over the disputed sales of currency-linked derivatives. As of Sunday, only one out of six lenders -- Woori Bank -- has consented to the FSS’ recommendations to pay indemnities for the alleged misselling of derivatives. The knock-in, knock-out -- KIKO -- products caused 723 local businesses to lose a combined 3.3 trillion won

EconomyMarch 8, 2020

Global smartphone market likely to contract over rampant coronavirus

Amid the ceaseless spread of the novel coronavirus around the globe, the world’s smartphone market is forecast to witness a contraction in the first half of the year, according to various market reports on Sunday. US-based Counterpoint Research said in its latest report that the global handset market is estimated to shrink 5 percent in the first quarter alone. Strategy Analytics said the volume of smartphone shipments worldwide would decline 10 percent from its initial forecast largel

TechnologyMarch 8, 2020

Korean air carriers’ coronavirus losses to reach W5tr by June

South Korea’s aviation industry is likely to see losses from the coronavirus outbreak snowball to at least 5 trillion won ($4.2 billion) by June, according to industry sources on Sunday. With more international routes shutting down as countries announce entry bans on people traveling from Korea, at least 5.8 trillion won of losses are expected from the country’s eight air carriers, based on the calculation from their flight records as of the fourth week of February.  But such

MobilityMarch 8, 2020