BiBi, Seo Samuel and Balming Tiger to Perform at TGE in May

Korean performers Balming Tiger, BiBi and Seo Samuel were among 100 additional groups announced for The Great Escape festival’s 2020 lineup, as posted on its official website on Jan. 28. This is the second round of groups, following the initial 50 participating groups who were announced earlier in September. The Great Escape will be held in Brighton, England, from May 13-16, where over 400 emerging artists from over 25 countries are expected to participate this year. It is known as the

PerformanceFeb. 3, 2020

[Graphic News] South Korea’s percentage of social media users dips in 2019

　A slightly lower proportion of South Koreans used social media in 2019, amid the waning popularity of platforms such as Facebook, data showed. 　According to data from the Korea Information Society Development Institute, 47.7 percent of people surveyed used social media last year, down from 48.2 percent the previous year. 　The figure had risen steadily since 2011, when it stood at 16.8 percent. It surpassed 30 percent in 2013 and 40 percent in 2015. (Yonhap)

Social AffairsFeb. 3, 2020

Coupang CEO freezes price of masks amid coronavirus outbreak

The outbreak of the Wuhan coronavirus has led to controversy about whether it is right for face mask manufacturers to raise the prices of their highly sought-after products. While overall prices of such masks appear to be on the rise, the CEO of Coupang said the South Korean e-commerce firm will freeze the prices of face masks being sold on its platform. “Although the market price of masks rose as demand increased, we have frozen our prices for retail masks,” Coupang CEO Kim Bom-

ConsumerFeb. 3, 2020

Seoul stocks nearly flat after roller-coaster ride on coronavirus fears

South Korean stocks ended nearly flat Monday, with fears of the rapid spread of the new coronavirus weighing down investor sentiments. Stocks on China’s major exchanges plunged on the first trading session after an extended Lunar New Year holiday that lasted from Jan. 24 to Feb. 2, which dragged down local indexes here even further. The benchmark bourse Kospi opened sharply lower at 2,086.61 points -- down 32.40 points, or 1.53 percent, from the previous session. The weak start continu

MarketFeb. 3, 2020

Cold snap to grip nation for days

A cold snap is expected to grip South Korea on Tuesday, sending morning lows to around minus 5 degrees Celsius in Seoul and below minus 10 degrees in some other areas, the weather agency said Monday. The Korea Meteorological Administration expects to issue cold weather advisories for mountainous regions in Gangwon and North Gyeongsang provinces at around 11 p.m. Monday, as icy air from Siberia moves toward the Korean Peninsula. Snow is in the forecast Tuesday for the northern parts of Gyeon

Social AffairsFeb. 3, 2020

Coronavirus shuts down nearly 340 schools in S. Korea

Some 340 schools, kindergartens and day care centers nationwide are temporarily closed as of Monday, amid public fears over the spread of the coronavirus. According to the Ministry of Education, 245 kindergartens, 53 elementary schools, 21 middle schools, 16 high schools and one special-education school postponed reopening following the month-long winter vacation or halted operations to rein in the spread of the coronavirus. Most of the schools affected by the virus are in Suwon, Bucheon or

Social AffairsFeb. 3, 2020

KT ditches Oracle’s database management system

KT has recently changed its database management system operator from Oracle to a third-party business, according to industry sources Monday. The mobile carrier has reportedly chosen Rimini Street as its database management system provider. A deal was signed considering costs and more efficient services, the sources explained. The partnership indicates KT’s attempts to opt out of overall reliance on Oracle products for its database system. It has not renewed Oracle’s DB license i

TechnologyFeb. 3, 2020

[Clara Ferreira Marques] Thailand’s economy was already sickening

Outside China, Thailand has the largest number of patients infected by the novel coronavirus. Unfortunately, the export-reliant $500 billion economy, Southeast Asia’s second-largest, was sickly even before the outbreak of the pneumonia-like illness. That reflects simultaneous blows from the Sino-US trade war, the worst drought in decades and a stubbornly strong currency. Add in Beijing’s newly imposed restrictions on Chinese travelers, who account for the lion’s share of arriva

ViewpointsFeb. 3, 2020

[David Fickling] Airlines aren’t about to succumb to coronavirus

Airlines are perpetually on the alert against crashes. That doesn’t mean the coronavirus epidemic will lead to any corporate disasters. The outbreak that originated in the Chinese city of Wuhan could push some airlines in Asia to the wall, according to Alan Joyce, chief executive officer of Australia’s biggest carrier Qantas Airways. “A lot of airlines may not be able to keep some of these operations going,” he told Bloomberg News. “It’s survival of the fitte

ViewpointsFeb. 3, 2020

[News Focus] Hanjin siblings vie to woo shareholders with new management plans

With Cho Hyun-ah, heiress of Hanjin Group -- which owns South Korea’s flagship carrier Korean Air -- teaming up with the largest and third-largest stakeholders prior to the shareholders meeting in March to take over control, her brother and current Chairman Cho Won-tae is preparing more arrows in his quiver, according to industry watchers. The sibling feud has escalated ahead of the upcoming shareholders meeting, with each side maximizing tools to woo the rest of the shareholders as thei

IndustryFeb. 3, 2020

New coronavirus to strain Korean economy: finance minister

The accelerating spread of the novel coronavirus, unless terminated swiftly, is likely to weigh down on South Korea’s economy, the nation’s chief fiscal policymaker said Monday. With this latest stance, Seoul’s government tightened its guard from its earlier suggestion that the economic impact of the epidemic would remain limited. “Unless terminated in its early stage, the novel coronavirus will act as downside pressure on the economy” Deputy Prime Minister an

EconomyFeb. 3, 2020

Coronavirus puts Moon administration to test

The continuing coronavirus crisis is raising the pressure on the Moon Jae-in administration, as it scrambles to deal with the outbreak. On Monday, the government announced more measures announced to tackle the situation, while Minister of Health and Welfare assessed the situation, hinging on developments over the next seven to 10 days. “(The virus) continues to spread in China, so a week to 10 days from now will be very important,” Health Minister Park Neung-hoo said at a meeting

Social AffairsFeb. 3, 2020

[Newsmaker] Coronavirus-positive Chinese tourist stirs up fear in Jeju

The southern resort island of Jeju is struggling to track down those who came into contact with a Chinese tourist who tested positive for a deadly coronavirus after returning from a trip there. As fears mounted, health authorities said Monday that the Wuhan resident was unlikely to have had symptoms while traveling around the island for five days last month.  “The Chinese health authorities informed us that the patient was quarantined after showing symptoms like a fever on Jan.

Social AffairsFeb. 3, 2020

Korean Battery makers forecast better 2020

All three South Korean lithium-ion battery makers saw alarming falls in their operating profits in 2019, but showed hopes that they could reap bigger profits from the growing electric vehicle battery market this year, according to the companies on Monday. Joining the announcements by Samsung SDI and SK Innovation last week, LG Chem said Monday its annual operating profit plunged 60.1 percent from 2018 to 895.6 billion won ($749 million) last year. Although the company posted its best sales

TechnologyFeb. 3, 2020

National Gugak Center releases publication on NK performing arts

The National Gugak Center recently released an English-language publication on the performing art scene in North Korea. The center has been publishing the Korean Musicology Series since 2007, aiming to promote understanding about traditional Korean arts, encouraging its globalization and international exchanges.  A total of 10 English-language books have been released, one each on pansori (traditional narrative singing), sanjo (instrumental music) and Korea’s traditional folk song

PerformanceFeb. 3, 2020

Coronavirus concerns loom over K-pop

A series of K-pop events are being canceled amid concerns over the deadly coronavirus outbreak, as organizers opt out to be on the safe side. Big Hit Entertainment, home to BTS, announced last week that it would hold its corporate briefing privately on Tuesday, despite having originally planned to open the event to the media and fans. The agency said the event would go ahead without a live audience, and a video would be uploaded the following day. According to YG Entertainment, Blackpink&rsqu

K-popFeb. 3, 2020

Hyundai clinches Saudi taxi supply deal

South Korea’s largest automaker Hyundai Motor announced Monday it has won an order to supply 1,000 Sonata airport taxis in Saudi Arabia, strengthening its foothold in the Middle East. The country accounts for an estimated 40 percent of all vehicles sold in the Mideast, according to the Korea Trade-Investment Promotion Agency. The company has signed a contract with the Saudi transportation company Al-Safwa to supply 1,000 new Sonata DN8 sedans. The automaker delivered 100 vehicles to K

BusinessFeb. 3, 2020

“Beasts Clawing at Straws” wins jury award at Rotterdam

  Crime noir film “Beasts Clawing at Straws” has won the special jury award at the International Film Festival Rotterdam. The first feature from director Kim Yong-hoon nabbed the award at this year’s Rotterdam Tiger Competition, where up-and-coming international filmmakers compete with their debut pieces, the movie’s distributor Megabox Joongang Plus M announced Monday. The jury for the Tiger Competition also honored “The Cloud in Her Room” by Zheng Lu

FilmFeb. 3, 2020

Coronavirus scare may derail W250b IPO plans in February

Seven South Korean firms are looking to raise as much as a combined 247 billion won ($206.6 million) through initial public offerings in February, but market watchers are wary as the local stock market grapples with the Wuhan coronavirus scare. While the number of infections in Korea grew to 15 as of Sunday, from just three a week prior, the Korea Exchange’s main bourse, Kospi, dipped 5.7 percent and its development board, Kosdaq, sank 6.3 percent. The companies may have weaker incentive

MarketFeb. 3, 2020