More institutions adopt stewardship code, embrace shareholder activism

The number of South Korean institutions that have embraced shareholder activism by adopting the stewardship code surged last year, raising tensions for companies ahead of their general shareholders meetings in March. The stewardship code sets forth guidelines for institutional investors, allowing them to participate actively in corporate governance by exercising their voting rights in the interests of their beneficiaries.  The code was introduced in December 2016. The National Pension S

IndustryJan. 28, 2020

Some 90 soldiers quarantined over Wuhan coronavirus: defense ministry

The military authorities have isolated around 90 soldiers who recently visited China as part of efforts to prevent the spread of a new type of coronavirus to the barracks, the defense ministry said Tuesday. The move came amid growing concerns over the outbreak of the deadly coronavirus across the globe that began in the Chinese city of Wuhan. Four cases have been confirmed in South Korea. Of around 150 soldiers who visited China in recent weeks, 92 service personnel, including 38 conscripts,

DefenseJan. 28, 2020

15 suspected Wuhan virus cases in S. Korea under inspection: KCDC

South Korea is inspecting 15 suspected Wuhan coronavirus cases amid growing concerns the contagious illness may spread across the country despite stepped-up quarantine efforts. the public health agency said Tuesday. As of early Tuesday, the total number of confirmed cases of pneumonia-like sickness stood at four, according to the Korea Centers for Disease Control and Prevention (KCDC). So far 97 people who may have been suspected of being infected by the new virus strain have been screened but

Social AffairsJan. 28, 2020

Seoul, Manila to hold 5th round of FTA talks

South Korea said Tuesday it plans to hold the fifth round of talks with the Philippines on a bilateral free trade agreement this week, with a goal of concluding the deal this year. During the three-day negotiation that begins in Manila on Wednesday, the two countries plan to set details of the articles of the agreement, according to the Ministry of Trade, Industry and Energy. Seoul and Manila launched their free trade negotiations in June last year. In November, the two countries agreed to c

EconomyJan. 28, 2020

BTS new single 'Black Swan' ranks 57th on Billboard singles chart

K-pop super band BTS' new song "Black Swan" landed at 57th on Billboard's latest main singles chart. "'Black Swan' by BTS debuts at No. 57 on Billboard Hot 100. This becomes their eighth entry to the chart," Billboard said on its social media accounts Tuesday (Korean time), with its weekly chart results to be officially updated later in the day. The song released Jan. 17 is a track from the band's upcoming "Map of the Soul: 7." Last year, "Boy With Luv,&quo

K-popJan. 28, 2020

Men's Olympic football team gets hero's welcome after clinching Tokyo 2020 berth

INCHEON -- The South Korean men's Olympic football team made a triumphant return home from Thailand on Tuesday after capturing a spot in this year's Summer Games in Tokyo. Coached by Kim Hak-bum, South Korea won the Asian Football Confederation (AFC) U-23 Championship over Saudi Arabia on Sunday in Bangkok. The AFC event was also the Asian qualifying tournament for Tokyo 2020, and the top three countries earned their tickets to the Olympics. Both South Korea and Saudi Arabia had bagged theirs

SoccerJan. 28, 2020

USFK on alert against Wuhan coronavirus

The US Forces Korea has issued guidelines on the prevention of an outbreak of Wuhan coronavirus amid deepening concerns over the spread of the pneumonia-like illness following four confirmed cases reported in South Korea. The deadly virus appears to have put the US military on alert, particularly as one of the four patients was known to reside in Pyeongtaek, Gyeonggi Province, where its garrison Camp Humphreys is located. "Be advised that this is cold and flu season, and the Coronavirus

DefenseJan. 28, 2020

S. Korea remains watchful of economic fallout from Wuhan coronavirus cases

South Korea said Tuesday it would spare no efforts to tackle with potential economic fallout from the Wuhan coronavirus, while vowing to take steps, if necessary, to minimize any negative impact. "We are closely examining the impact of the spread (of the virus) in China on its consumption and production, along with the global economy and our exports," Finance Minister Hong Nam-ki said during an emergency meeting held with related ministries. "For now, it has had a limited impac

EconomyJan. 28, 2020

Seoul stocks open sharply lower amid Wuhan coronavirus woes

South Korean stocks opened sharply lower Tuesday, the first trading session after the four-day Lunar New Year's holiday, as the fast-spreading Wuhan coronavirus around the globe sapped investor sentiment. The benchmark Korea Composite Stock Price Index fell 57.43 points, or 2.56 percent, to 2,188.70 in the first 15 minutes of trading. The local stock market was closed Friday and Monday. South Korea on Monday reported its fourth confirmed Wuhan coronavirus case amid mounting concerns the pneum

MarketJan. 28, 2020

US military jet crashes in Taliban territory in Afghanistan

GHAZNI (AFP) -- A US military jet crashed in mountainous territory in eastern Afghanistan, where there is a heavy Taliban presence, the Pentagon confirmed Monday, rejecting the insurgents' suggestions that it was shot down. Afghanistan US Forces spokesman Colonel Sonny Leggett confirmed in a statement that the aircraft was a US Bombardier E-11A, a type of jet used as a military airborne communications node in the region. "While the cause of crash is under investigation, there are no indi

World NewsJan. 28, 2020

Stocks, oil fall as China virus rattles markets

NEW YORK (AFP) -- Global stocks and oil dropped Monday as panicked investors fled risky assets for safer bets gold, bonds, the dollar and the yen, after China warned that a deadly new coronavirus was spreading fast. Luxury goods makers and airlines suffered particularly on equity markets, as Chinese tourist spending is a key factor for them. Shares of energy and technology companies were also weak. China extended its traditional Lunar New Year holidays to buy time in the fight against the epi

World NewsJan. 28, 2020

WHO says still probing if Chinese virus can spread before symptoms

GENEVA (AFP) -- The World Health Organization said Monday it remained unclear if the deadly coronavirus spreading in China and beyond is contagious during its incubation period, before symptoms appear. The virus, which can cause a pneumonia-like acute respiratory infection, has in a matter of weeks killed more than 80 people and infected some 2,740 in China, while cases have been identified in more than a dozen other countries. In a fresh report on the new virus, known as 2019nCoV, the UN hea

World NewsJan. 28, 2020

Military doctors, nurses, soldiers to be mobilized for coronavirus quarantine efforts

About 100 military doctors, nurses and ordinary soldiers will be mobilized for quarantine operations aimed at preventing the spread of the new type of coronavirus, the defense ministry said Monday. The military personnel have been assigned to 21 checkpoints set up at seaports and airports across the country and will help with body temperature checks and other quarantine efforts, the ministry said. After the government raised its infectious disease alert level by one notch to "orange,&quo

DefenseJan. 27, 2020

S.M. Entertainment chief producer makes Billboard's '2020 Impact List'

Lee Soo-man, founder and chief producer of South Korea's biggest K-pop label, S.M. Entertainment, was listed by Billboard as one of the world's influential music industry leaders, the agency said Monday. Lee was the only South Korean chosen to be on "The 2020 Billboard Impact List" that recognizes 22 individuals for their influence over the future of the global music industry, according to S.M.  "SuperM, the 'supergroup' recruited from members of other Korean boy bands and

PerformanceJan. 27, 2020

S. Korea considering sending chartered flight to evacuate citizens from Wuhan

South Korea is considering sending a chartered flight to the Chinese city of Wuhan to bring its citizens home from the epicenter of the outbreak of a deadly new coronavirus, government sources said Monday. Officials from the foreign ministry, the interior ministry, the health ministry and the transport ministry held a meeting to discuss safety measures for South Koreans remaining in Wuhan, estimated at around 600, including mobilizing a chartered flight to bring them home, the sources said. &q

Social AffairsJan. 27, 2020

Samsung SDS’ brand value reaches W4.3tr

Samsung SDS, an information and communication technology service arm of Samsung Electronics, has seen its brand value grow to 4.3 trillion won ($3.7 billion), a 6.5 percent increase compared to that of last year, the company said Monday.    In the latest edition of Brand Finance on IT companies, Samsung SDS was ranked 11th most valuable brand. The Samsung affiliate was the one of only two brands that rose in the IT service ranking, the company added. Samsung SDS recorded year-over-

TechnologyJan. 27, 2020

[Graphic News] Mobile game sales in S. Korea surpass W4.2tr in 2019

　Sales of South Korean mobile games rose 5.2 percent on-year to surpass 4.2 trillion won ($3.6 billion) last year, industry data showed. 　According to the data from mobile big data platform IGAWorks, combined sales at three app markets - Google’s Play Store for Android devices, Apple’s App Store for iPhones, and ONE store - came to 4.29 trillion won in 2019. 　NCSoft had the biggest market share with 21.5 percent, followed by Netmarble with 11.7 percent and Nexon with 5.1 perce

BusinessJan. 27, 2020

Samsung heir visits Brazil with mobile, TV heads

Samsung Electronics said Monday its Vice Chairman and heir Lee Jae-yong flew to Brazil during the Lunar New Year holidays as part of efforts to check on the Korean tech giant’s major businesses in the Latin American market. Lee visited the production facilities for smartphones, TVs and other home appliances located in the free trade zone of Manaus, Amazonas, in the north of Brazil. The zone is home to around 500 global businesses. Brazil is the biggest economy in Latin America. For Sa

TechnologyJan. 27, 2020

Local 5G equipment providers expected to see growth continue

South Korea’s 5G equipment providers could grow in the near future, as the demand for network infrastructure is anticipated to increase worldwide at a steady pace, according to local financial reports. The earnings of 5G equipment companies here could regain momentum down the road as global telecom firms seek to raise their capital expenditure on 5G infrastructure.  The improved prospects of Samsung Electronics, the major provider of telecom equipment here, will also lead to earnin

TechnologyJan. 27, 2020

Naver’s webcomic unit ramps up service worldwide

The webcomic unit of Korea’s largest internet portal operator Naver is ramping up efforts to attract more foreign users, launching services in French and Spanish recently. Naver Webtoon, also known as Line Webtoon in the United States, is a Korean web comic platform.  The online cartoon service is increasing efforts to increase its foothold in the global market. The company added Spanish on Nov. 22 and French on Dec. 19, while continuing its existing service in Engl

IndustryJan. 27, 2020