A community center for the elderly in Seoul’s central Jongno District has been identified as another COVID-19 cluster by health authorities, who have been tracing infection routes of several patients in Seoul with what first appeared to be unclear transmission paths. Officials at the Korea Centers for Disease Control and Prevention said Sunday four out of nine patients confirmed to be infected in Jongno, which has the highest number of patients in Seoul, were believed to have contracted

Social AffairsFeb. 23, 2020

After a decade of life as a glam-pop star, Lebanese-born British singer Mika faced a point in his life where he had to hit the ground again to push himself in the right direction. For 2 1/2 years, he stepped away from the spotlight and consciously focused on his music and creativity. Mika’s fifth album, “My Name Is Michael Holbrook,” is the result of the singer’s contemplation. “I used to hate my legal name! I was convinced that only through assuming and defen

PerformanceFeb. 23, 2020

South Korea’s early-stage venture capital house Bass Investment said it had closed its second fund worth 37.7 billion won ($31.1 million) last week, in the latest addition to its initial 28.6 billion won fund. The new vehicle’s backers include K Cube Holdings, Com2uS, as well as ex-entrepreneurs -- including Chang Won-gui, founder of secondhand marketplace Bungae Jangteo who exited from the firm in January. No state fund has joined as its limited partner. The fund will “not

MarketFeb. 23, 2020

The market capitalization of listed South Korean companies declined across industries, according to data from market researcher FnGuide. Between Jan. 20 and Thursday, the combined market cap of 48 firms selling personal and daily goods, including cosmetics makers, fell 5.06 trillion won based on the closing prices of stocks. The market cap of the wholesale and retail sector dropped 2.92 trillion won, while that of the hotel and leisure industry declined about 1.85 trillion won.  (khnew

IndustryFeb. 23, 2020

South Korea said Sunday it has decided to raise its alert level against the COVID-19 virus to "highest" in its latest heightened response to the confirmation of hundreds of additional cases over the weekend. "The COVID-19 incident has been confronted by a grave watershed," President Moon Jae-in said as he publicly announced the measure. "A few days from now is a very important moment." He said the government would strengthen the overall response system by raising

Social AffairsFeb. 23, 2020

While South Korea grapples with the rising new coronavirus infections, some market watchers are of the view that the central bank is likely to push for a base rate cut to minimize the downside economic impacts. Though many analysts are inclined toward a rate freeze scenario, the current economic situation could force the Bank of Korea to stipulate a record-low key interest rate, according to some. The three-year Treasury bond rate stood at 1.18 percent as of Friday, down 0.14 percentage poin

EconomyFeb. 23, 2020

South Korea raised its alert level for the COVID-19 virus to the highest level Sunday, as the country reported additional deaths from the new coronavirus and a further spike in infections.  As of Sunday afternoon, the number of infections surged by 169 to 602, with most of the new cases traced to the Daegu branch of the Shincheonji Church of Jesus, according to the Korea Centers for Disease Control and Prevention. 　 The number of deaths from COVID-19 rose to six, with three more deaths

Social AffairsFeb. 23, 2020

The COVID-19 outbreak is likely to deliver a severe blow to the South Korean economy, especially in the retail sector and real estate investments, according to global real estate service provider Cushman & Wakefield. Asia’s fourth-largest economy’s growth prospects in the near term will be affected as the fast-spreading coronavirus disrupts supply chains, reduces exports and weakens consumer sentiment, the company said in its recent report on the Asia-Pacific region. “

MarketFeb. 23, 2020

Medical societies said over the weekend the new coronavirus outbreak in South Korea was far from peaking, warning the coming week could see a further escalation after spiking recently.  “Korea is past a point where the government or the Korea Centers for Disease Prevention and Control’s response alone can contain the disease,” said Kim Dong-hyun, president of the Korean Society of Epidemiology and preventive medicine specialist at Hallym Medical School. “Society-w

Social AffairsFeb. 23, 2020

A 4-year-old girl in Daegu has been confirmed with the novel coronavirus, in the first case involving a patient under the age of 10, fueling fears of the virus affecting young children, local authorities said Sunday. She is the youngest patient among 556 cases in Korea. Prior to her confirmation, the youngest patient was 11 years old. She had been in self-isolation with a mild fever after a teacher at her nursery tested positive for the virus. “The 4-year-old child has a minor sickne

Social AffairsFeb. 23, 2020

With the number of COVID-19 patients expanding rapidly across South Korea, the domestic stock market saw its market capitalization shed over 12 trillion won ($9.95 billion) over the past month, data showed Sunday. According to data released by financial market tracker FnGuide, the market cap of both the nation’s benchmark Kospi and secondary tech-heavy Kosdaq listed firms shed a combined 12.78 trillion won as of Thursday since the country reported the first case of COVID-19 on Jan. 20.

MarketFeb. 23, 2020

Of 76 Koreans who traveled to Israel for religious pilgrimages in February, 18 tested positive for the deadly coronavirus upon returning home, local health authorities said Sunday. Two groups of Roman Catholic travelers stayed in Israel for about a week each for religious tourism earlier this month, visiting packed religious sites. Among 39 Koreans from North Gyeongsang Province who visited Israel from Feb. 8-16, 18 have been confirmed positive, including a tour guide residing in Seoul. A 5

Social AffairsFeb. 23, 2020

Samsung Electronics’ smartphone production facility in Gumi, North Gyeongsang Province, was shut down over the weekend due to a confirmed case of the new coronavirus that causes COVID-19, industry sources said Sunday. The Gumi facility, 202 kilometers south of Seoul, consists of two production lines for network equipment and premium smartphones, including the latest Galaxy S20 series and the foldable Galaxy Z Flip. A female employee in her 20s who worked on the smartphone line was dia

TechnologyFeb. 23, 2020

The ruling Democratic Party asked the government Sunday to draw up a supplementary budget for use in efforts to contain the novel coronavirus that has been gaining force in South Korea. Rep. Lee In-young, floor leader of the party, also said the National Assembly would hold a plenary session on Monday to discuss "extraordinary" measures including the establishment of a special parliamentary committee on the COVID-19 pandemic. "(We) request that the government draft a supplement

PoliticsFeb. 23, 2020

The veiled Christian sect linked to more than half of South Korea’s COVID-19 infections said Sunday that they were fully cooperating with health authorities to contain the deadly virus. 　 In a video clip posted on its YouTube channel, the Shincheonji Church of Jesus also fought back against “groundless” media reports, rumors and criticism, saying they were the “biggest victims of a virus that originated in China.” 　 “We continue to see reports that suggest S

Social AffairsFeb. 23, 2020

With global motor shows either being delayed or likely to be called off due to coronavirus concerns, automakers are likely to face setbacks in their plans to unveil their latest models, according to industry sources Sunday. Organizers of Asia’s largest auto event, Beijing Motor Show slated for April 21-30, have announced that it has been “indefinitely delayed.”  The event has been “postponed until further notice,” and a decision will be taken after closely w

MobilityFeb. 23, 2020

Hyundai Motor’s global hydrogen advertisement featuring BTS is aired via Marriott Marquis Hotel’s digital signage display at Times Square in New York on Friday.  In the advertisement, which played for an hour, BTS members explained the company’s vision and efforts to achieve a future hydrogen society through its hydrogen fuel cell car Nexo. (ddd@heraldcorp.com)

MobilityFeb. 23, 2020

South Korean Defense Minister Jeong Kyeong-doo headed to the US capital Sunday for talks with the Pentagon chief on pending alliance issues.  Among the agenda items in talks between Jeong and US Secretary of Defense Mark Esper, slated for Monday (local time), are a scheduled spring joint military exercise and preparations for the wartime operational control transition, according to defense officials here.  The allies reportedly agreed to stage the combined drills in early March. B

Foreign AffairsFeb. 23, 2020

The head of South Korea's main opposition party called on the government Sunday to raise the country's COVID-19 alert level to "serious" and designate Daegu, a city with many confirmed cases, a "special disaster zone."  The call by Hwang Kyo-ahn, leader of the conservative United Front Party, came as the country reported 123 additional cases and the fourth death from the illness.  The total number of people infected with the virus was tallied at 556 as of Sunday

PoliticsFeb. 23, 2020