Coronavirus outbreak to push up prices of chips, display panels

The spread of coronavirus in China is likely to push up prices of semiconductors and display panels, analysts said Wednesday, amid possible supply chain disruptions of key industrial materials. China, where the outbreak originated, is home to manufacturing facilities of many of South Korea's major tech firms, including Samsung Electronics Co. and SK hynix Inc. The companies said they are trying to keep their plants in China running amid the spread of the deadly coronavirus, while setting up c

IndustryFeb. 5, 2020

Renault Samsung Motors seeks competitiveness in customer service

Renault Samsung Motors is bolstering its customer service capabilities to up its game in the Korean auto market despite aggravated market conditions. The carmaker said Wednesday it has become the first among domestic brands to have recently introduced the “RSM Service Menu,” a customer service program where customers can learn about a total expense prior to service. Based on that information, customers can decide which service to receive without having to worry about bills later.

MobilityFeb. 5, 2020

S. Korea eyes further economic cooperation with Russia, Azerbaijan

South Korea said Wednesday it will hold a series of meetings with counterparts in Russia and Azerbaijan this week as part of the country's drive to forge deeper ties with emerging countries of Eastern Europe and Central Asia. A South Korean delegation of trade officials plans to discuss ways to promote exchanges of goods and services, according to the Ministry of Trade, Industry, and Energy. South Korea has been seeking to expand cooperation with Russia, especially in materials, parts, and eq

EconomyFeb. 5, 2020

Concerns grow over S. Korean exports amid coronavirus crisis

Concerns are escalating over South Korea's export performance down the road amid the new coronavirus crisis, but officials say no serious fallout has been reported yet. It is widely feared that the outbreak and spread of the novel coronavirus, which is believed to have originated in the Chinese city of Wuhan, will dampen China's economic growth in the first quarter. China is South Korea's leading export market, with slightly over 25 percent of its overseas shipments going to the world's secon

EconomyFeb. 5, 2020

[Newsmaker] Universities reschedule key ceremonies amid coronavirus scare

February and March are usually the most celebrated and busiest months in the Korean school calendar. Schools hold graduation ceremonies in February and welcome freshmen at the beginning of March. But things are likely to be different this year as more and more schools reschedule the milestone events with the potentially fatal new coronavirus showing no signs of abating here. South Korea has confirmed 18 cases of infection since Jan. 20. A majority of universities based in the country's cap

Social AffairsFeb. 5, 2020

Final leg of BTS CONNECT art project lands in New York

A massive network of shining aluminium hoops was set up by New York's East River against the backdrop of the city's famous skyline Tuesday (US time). The art installation, "New York Clearing," by British sculptor Antony Gormley, is the final edition of the K-pop superband's global art project involving five cities -- the others being London, Berlin, Seoul and Buenos Aires. The 4.5-meter-high installation made of aluminum tubes 18 kilometers in total length, is Gormley's interpretati

K-popFeb. 5, 2020

Big firms sharply cut performance pay, dividends on dismal earnings

Major South Korean companies sharply cut payments of performance-based pay and dividends for 2019 due to abysmal earnings, industry sources said Wednesday. Top-cap Samsung Electronics Co. recently decided to lower the maximum amount of performance pay for workers at its semiconductor division to 29 percent of their annual salary from 50 percent in 2018. Samsung's operating income tumbled 53 percent on-year to 27.7 trillion won ($23.4 billion) last year due mainly to a protracted slump in chip

EconomyFeb. 5, 2020

S. Korea adds 2 more virus cases at 18, one confirmed after trip to Singapore

South Korea on Wednesday confirmed two more cases of the novel coronavirus, bringing the total here to 18, with one of the latest cases involving a patient who had returned from Singapore amid concerns over the illness spreading from countries other than China. The Korea Centers for Disease Control and Prevention (KCDC) said a 38-year-old South Korean man who recently visited Singapore for work and came into contact with an infected Malaysian tested positive for the virus. The country's 17th

Social AffairsFeb. 5, 2020

China virus cases nationwide exceed 24,300: govt.

BEIJING (AFP) -- The number of confirmed infections in China's coronavirus outbreak has reached 24,324 nationwide with 3,887 new cases reported, the National Health Commission said Wednesday. In its daily update, the commission said there had been 65 new deaths from the virus -- all in hardest-hit Hubei province, bringing the national toll to 490. (AFP)

World NewsFeb. 5, 2020

960 soldiers quarantined over new coronavirus: defense ministry

Around 960 soldiers remained quarantined Wednesday as part of efforts to prevent the spread of the new coronavirus to barracks, the defense ministry said. The quarantined soldiers have either visited China, Hong Kong or Macao in the past 14 days, or had contact with people who traveled to those places. "Of them, about 140 soldiers themselves visited those countries, and the remainder contacted such visitors," the ministry said. Some 330 service personnel have been at their residenc

DefenseFeb. 5, 2020

S. Korea to consider further action after entry ban on foreigners from Hubei, says PM

South Korea will take additional measures to contain the spread of the new coronavirus, if needed, after checking the situation not only in China's Hubei Province but also in other areas, the prime minister said Wednesday. Prime Minister Chung Sye-kyun's remarks apparently signal that the government could weigh the possibility for expanding its entry ban on foreigners who came from or through the ground-zero Chinese province in the past 14 days. "The government will take necessary measur

Foreign AffairsFeb. 5, 2020

Buttigieg takes lead in Iowa caucuses, Sanders second

MANCHESTER (AFP) -- Democratic White House candidate Pete Buttigieg seized a shock lead in the chaotic Iowa caucuses, closely trailed by leftist senator Bernie Sanders, according to partial returns released on Tuesday after an embarrassing delay in reporting the results. Progressive standard-bearer Elizabeth Warren was in third place followed by Joe Biden, a disappointing showing for the former vice president who has claimed he is best positioned to defeat Donald Trump in November. Buttigieg,

World NewsFeb. 5, 2020

S. Korea to be hit by this winter's strongest cold wave Wednesday

South Korea is expected to see the strongest cold wave yet this winter on Wednesday, with the windchill reaching minus 19 C in the country’s capital, the national weather agency said. The Korea Meteorological Administration (KMA) said it is set to issue a cold snap alert for much of the country on Tuesday night, with the northeastern province of Gangwon to be placed under a cold wave warning. It added the country‘s southwestern provinces of Jeolla, southeastern provinces of Gyeo

Social AffairsFeb. 4, 2020

S. Korean airlines halt 57% of China routes on coronavirus

A deadly new coronavirus has prompted South Korean airlines to suspend more than half of their flight services to China, industry sources said Tuesday. As of Tuesday, industry leader Korean Air Lines Co. and seven other carriers have temporarily suspended 57 out of their 100 routes to the neighboring country due to the coronavirus scare. The airlines have also decided to reduce flights on 24 routes to Chinese cities, including the capital Beijing. Korean Air, the country‘s national fla

MobilityFeb. 4, 2020

S. Korea toughens penalties against hoarding of protective masks

SEJONG -- South Korea on Tuesday approved tougher penalties against the hoarding of protective masks and hand sanitizers, as the new coronavirus outbreak has sparked a sharp rise in demand, officials said. Under the new rule, a person who engages in hoarding of such products will face a prison sentence of a maximum two years or a maximum fine of 50 million won ($42,108), the Ministry of Economy and Finance said in a statement. Such penalties will go into effect Wednesday and will be in force

Social AffairsFeb. 4, 2020

Samsung launches powerful memory chip for AI, supercomputing systems

Samsung Electronics Co. said Tuesday it has launched a new memory chip suited to high-performance computing (HPC) systems and artificial intelligence-powered data analytics. Samsung said the Flashbolt is the industry‘s first third-generation High Bandwidth Memory (HBM) 2E memory chip and will deliver twice the capacity of its previous-generation Aquabolt. “The new 16-gigabyte HBM2E is uniquely suited to maximize high-performance computing systems and help system manufacturers to

TechnologyFeb. 4, 2020

Hun Sen: Cambodia expects more investment from S. Korea

Cambodian Prime Minister Hun Sen said Tuesday his country hopes to draw more investment from South Korea by taking advantage of a double taxation avoidance pact between the two sides. Meeting with President Moon Jae-in at Cheong Wa Dae, he stressed that bilateral relations are continuously developing as shown in the signing of the pact and an agreement on mutual legal assistance in criminal matters last November. “Especially, I am happy that the two nations signed the double taxation av

Foreign AffairsFeb. 4, 2020

S. Korea, Japan to hold working-level talks this week on trade, history row

Diplomats from South Korea and Japan will meet in Seoul this week to continue working-level talks on a protracted row over wartime history and trade, the foreign ministry said Tuesday. Kim Jung-han, director-general for Asia and Pacific affairs, will meet with his Japanese counterpart, Shigeki Takizaki, on Thursday to discuss the pending issues, the ministry said in a release. Takizaki is expected to arrive in Seoul on Wednesday. This week‘s talks come about three weeks after their las

Foreign AffairsFeb. 4, 2020

Coronavirus delays film openings

The distributor of “Beasts Clawing at Straws” on Tuesday announced the decision to tentatively postpone the movie’s release, originally scheduled for Feb. 12, due to the spread of a novel coronavirus. The prospect of poor ticket sales and fears of spread of the disease in crowded venues are prompting film distributors to consider delaying releases and canceling promotional events. Another film that may be affected by the spread of the new coronavirus is “Honest Candi

FilmFeb. 4, 2020

[Graphic News] Population mobility at slowest pace in 47 years in 2019

　South Koreans changed residences to a different region at the slowest pace in 47 years in 2019, due to the rapid aging population and tightened regulations on home purchases, data showed. 　The number of people who moved to other regions - defined as a different province or city - in the country dropped 2.6 percent on-year to 7.1 million last year, according to the data by Statistics Korea. 　The population mobility rate - the number of those changing residence for every 100 people - fell 0

Social AffairsFeb. 4, 2020