IZ*ONE's 'Bloom*Iz' tops Oricon weekly overseas album chart

"Bloom*Iz," the new album by female K-pop band IZ*ONE has topped Japan's latest Oricon weekly overseas album chart, the band's third No. 1 on the chart. The 12-track album's No. 1 victory on the Oricon weekly overseas album chart for the week of Feb. 17-23 follows two more No. 1s on the tally by IZ*ONE's two previous albums -- "Color*Iz" and "Heart*Iz." Since its release on Feb. 17, "Bloom*Iz" has sold 356,313 copies in South Korea, a record-high first

K-popFeb. 26, 2020

Government takes steps to enhance accessibility to face masks and hospital beds

Prime Minister Chung Sye-kyun pledged Wednesday to mobilize all available resources for intensive disinfection measures to stabilize the coronavirus-hit Daegu within four weeks. “The government will mobilize all resources and means in order not to lose the prime timing (to contain the virus),” Chung said while presiding over a meeting of the government anti-disaster headquarters for the first time in the city. From Tuesday, Chung has been staying in the southeastern city of Da

Social AffairsFeb. 26, 2020

Seoul stocks slip after brief recovery

South Korean stocks headed south Wednesday -- after a brief rally a day earlier -- as the number of confirmed COVID-19 virus cases here reached over 1,000. The local currency also dipped against the US dollar, closing at 1,216.90 won -- down 6.60 won from the previous session’s close. The benchmark Kospi opened sharply lower at 2,064.07 -- sinking 39.54 points, or 1.88 percent, from the previous session. The weak start continued through the day, but rose slightly to close at 2,076.77. It

MarketFeb. 26, 2020

Downside pressure on Kospi mounts as epidemic fears escalate

The unfettered spread of the new coronavirus in South Korea has sparked jitters both here and abroad, with most market observers noting that the spillover effects will continue through March, weighing down on the domestic stock market. For one, global investment bank JP Morgan, in its latest report, has forecast that the infection will peak at around 10,000 by late March. “According to the JP Morgan insurance team’s epidemiology model, Korea’s COVID-19 infection rate has not

MarketFeb. 26, 2020

Doctors split over phone-only prescriptions in COVID-19 emergency

A doctors’ group in virus-stricken Daegu has argued in support of consultations and prescriptions over the phone to mitigate the spread of COVID-19. The Daegu Medical Association’s statement came a day after its parent organization, the Korean Medical Association, clashed with the government Monday over emergency measures that would allow patients to seek prescriptions without seeing doctors face to face. The KMA had opposed the Health Ministry proposal, saying not only had the g

Social AffairsFeb. 26, 2020

Countries shut doors on S. Korea over coronavirus fears

Gripped by COVID-19 fears, more than two dozen countries have barred entry to or tightened restrictions on travelers from South Korea, with neighboring Japan becoming the latest to do so.  　 Japanese Prime Minister Shinzo Abe said from Thursday it will deny entry to foreign nationals who have visited the Korean city of Daegu and the neighboring county of Cheongdo, North Gyeongsang Province, the areas hit hardest by the coronavirus here. 　 Seoul’s Foreign Ministry said Tokyo had inf

Foreign AffairsFeb. 26, 2020

Bills on disease response pass as parliament reopens after closure due to virus concerns

South Korea's parliament on Wednesday passed a set of bills to beef up government responses to infectious diseases as the country is striving to rein in the fast-spreading new coronavirus. The lawmakers also formed a special committee on the virus crisis as the National Assembly reopened earlier in the day after a two-day closure for disinfection. Its main buildings were shuttered Monday after it was discovered that a person infected with COVID-19 attended a parliamentary forum last week. Thr

PoliticsFeb. 26, 2020

KB Financial to launch intraboard ESG committee

KB Financial Group said Wednesday that it plans to set up an intraboard committee focused on environmental, social and corporate governance. The group’s board of directors has decided to officially put the issue up for vote at the upcoming shareholders meeting scheduled for March 20. The committee will handle decisions related to environmental, gender and social issues, the group said. The launch comes after KB Financial Group Chairman Yoon Jong-kyoo vowed to shift to a ESG-centered

MarketFeb. 26, 2020

TWICE signs partnership with US' Republic Records

In its bid to launch onto the world music scene, K-pop girl band TWICE has forged a partnership with a major American music label. TWICE's management agency said Wednesday that it forged the "strategic partnership" with Republic Records to help the girl band gain a foothold in the global pop market. Republic Records, under the wing of Universal Music Group, is home to such high-profile American artists as Taylor Swift, Ariana Grande and Post Malone, as well as Canadian musician Dra

K-popFeb. 26, 2020

ROK-US military drills scaled back

South Korea and the US decided to scale back the annual joint military drills scheduled to begin within the next several days, as the COVID-19 outbreak in Korea affected their military operations, CNN reported, quoting three US officials. The two allies were set to take part in the command post exercises that begins March 9. The exercises test the combat readiness of top commanders and senior staff of both sides in computer-based war games against North Korea. Seoul and Washington have held the

DefenseFeb. 26, 2020

[Newsmaker] Shincheonji Wuhan church emerges as possible link to Korea virus spread

Members of the Shincheonji Church of Jesus reportedly held meetings in the Chinese city of Wuhan until late last year, raising the possibility that the group’s South Korean members could have contracted COVID-19 virus there and brought it back to Korea. Korea now has the greatest number of COVID-19 infections outside China with over 1,000 confirmed cases. The majority are tied either to the religious sect’s church in Daegu or to the Cheongdo Daenam Hospital in the nearby county of C

Social AffairsFeb. 26, 2020

Posco1%Foundation to back projects for disabled artists, persons of merit

South Korean steelmaker Posco said Wednesday its charity unit, Posco1%Foundation, plans to support disabled artists and persons of merit with new and innovative programs through an open contest. The foundation conducted a monthlong contest in January inviting applications from individuals and institutions for various charity ideas and projects. A total of 271 ideas were submitted, many of which focused on future generations, multiculturalism and disabled, culture and arts, the firm said. Aft

IndustryFeb. 26, 2020

Hyundai Motor Group donates W5b to help fight coronavirus

Hyundai Motor Group has donated 5 billion won ($4.1 million) to Hope Bridge Association of the National Disaster Relief to support medical personnel and offer relief goods amid the quickly escalating COVID-19 outbreak across the country.  The donation was made to especially help people in Daegu and North Gyeongsang Province, the company said.  Hyundai Motor Group and the Hope Bridge Association said the donation will be used to offer products needed for the prevention of epidemics a

MobilityFeb. 26, 2020

Amorepacific to sell Gangnam building for W160b

Cosmetics giant Amorepacific will sell its office building in Nonhyun-dong, within Seoul’s Gangnam district, for 160 billion won ($131.25 million), according to the company’s regulatory filing Wednesday. The company decided to sell the building to secure liquidity and to improve solvency, the report said. The company added that it planned to sell it by April 29 this year. The target price accounts for about 2 percent of the cosmetic firm’s total assets as of end-2018. The

IndustryFeb. 26, 2020

Over 80% of Koreans watch videos online

Eight out of 10, or 81.2 percent, Koreans watch videos online, according to a ICT Ministry report released Wednesday, with about 73.7 percent watching them on a daily basis. The ministry, in its annual survey on internet use patterns, surveyed a total 60,254 people from 25,031 households here between August and September last year. Online video platforms were most frequently used by the younger generation. About 93 percent of the people in their 20s answered that they watch videos online -- t

TechnologyFeb. 26, 2020

Korean firms on edge ahead of shareholders meetings on coronavirus fears

South Korea’s listed companies are on edge ahead of shareholders meetings scheduled for March as the number of COVID-19 cases surges day by day and many shareholders are expected to stay away. Next month, more than 300 listed companies are slated to hold shareholders meetings to handle issues such as the approval of financial statements and the appointment of in-house directors. Tech giant Samsung Electronics has a shareholders meeting scheduled for March 18, Hyundai Motor for March 19,

IndustryFeb. 26, 2020

Netmarble, Marvel to introduce new game at PAX East

Netmarble said Wednesday it plans to introduce a new game title with Marvel at PAX East in the US. Due to the coronavirus scare in South Korea, only Netmarble’s US office employees will attend the game show. The PAX East 2020 is being held at Boston Convention and Exhibition Center in Massachusetts, from Thursday through Sunday. Netmarble’s will showcase its latest game on the last day of the show, in a session called “Marvel Mystery,” in the presence of Shim Cheol-mi

IndustryFeb. 26, 2020

[팟캐스트] (341) 당정청, 추경 편성 신속 추진/ 코로나19 확산에 재택근무 실시하는 기업 늘어나

진행자: 김보경, Kevin Lee Selzer 1. Presidential office, ruling party to speed up economic aid for COVID-19 아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2 팟빵 (안드로이드): http://www.podbbang.com/ch/6638 [1]An economic aid package and extra budget will be drawn up as quickly as possible to combat the effects of the COVID-19 outbreak, the presidential office, government and ruling Democratic Party of Korea agreed Tuesday. * economic aid package: 재정지원 *extra bu

PodcastFeb. 26, 2020

PEF to buy IS Dongseo ceramics operation for W217b

E&F Private Equity has inked a deal to acquire the ceramics operation of concrete-to-construction business group IS Dongseo for 217 billion won ($178 million), according to a filing on Wednesday. The private equity firm, managing 342.2 billion won in assets as of 2019, agreed to buy a 100 percent stake in the operation on May 15. Prior to the transaction, the ceramics business will be split off from IS Dongseo earlier in May, which will be named Inus. The business, dedicated to making an

MarketFeb. 26, 2020

Over 400,000 sign petition to impeach President Moon

As of Wednesday morning, over 400,000 South Koreans have signed an online petition calling for the impeachment of President Moon Jae-in over the government’s missteps in dealing with the COVID-19 outbreak. The petition appeared on the website of the presidential office Feb. 4, and more than 200,000 people had signed it by Tuesday afternoon. Cheong Wa Dae has to give an official answer to a petition if it gets more than 200,000 signatures in less than a month. The petitioner criticized

Social AffairsFeb. 26, 2020