Job market dropouts surge amid COVID-19 slump

Amid the prolonged economic fallout of the COVID-19 pandemic, South Korea has seen a surge in its number of those dropping out of the job market altogether, government data showed Sunday. As these people are not subject to the government’s unemployment allowances and other benefits, there have been growing calls that the current job indexes and related subsidy system should be revised in light of the market reality. According to data from Statistics Korea, the number of those not inte

EconomyApril 19, 2020

Posco International donates 100 virus test kits to Myanmar

Posco International said Sunday it has sent 100 virus test kits that can run 10,000 tests to Myanmar, as part of its relief efforts for the COVID-19 pandemic. According to the company, it has successfully delivered the test kits developed by Korean firm BioSewoom to Myanmar’s Ministry of Health and Sports. The cost of 170 million won ($140,000) was shared by Posco International and its consortium partner companies -- Myanmar Oil and Gas Enterprise, Oil and Natural Gas Corp., Gas Autho

IndustryApril 19, 2020

Home appliance sales strong amid virus crisis

Although the COVID-19 crisis has dampened overall consumer sentiment, sales of home appliances remain strong, according to industry sources Sunday. With people spending more time at home to practice social distancing, home appliance sales are booming. The government’s subsidy program to support purchases of energy-efficient home appliances is also contributing to the sales growth. According to Lotte Himart, 10 home appliances categorized as energy-efficient saw combined sales go up b

IndustryApril 19, 2020

Photo album-like drama ‘When My Love Blooms’ to air

Though we often tend to yearn for the best moments of our life, the upcoming drama series “When My Love Blooms” suggests there is no time like the present. The new tvN series, featuring veteran actors Yoo Ji-tae and Lee Bo-young, will portray the love between a man and woman who reunite 26 years after first falling in love. “I personally believe romance is the most fundamental genre of television drama. Though love might be a really common theme, I wanted to portray a warm a

TelevisionApril 19, 2020

Government to roll out additional support plan for COVID-19-hit aviation industry

As continued losses in the second quarter are expected for the aviation industry over COVID-19 pandemic, the South Korean government is expected to roll out an upgraded support measure for cash-strapped air carriers this week, according to the government sources on Sunday.  According to the government, the fifth round of emergency economic council meetings presided over by President Moon Jae-in is set to take place this week.  President Moon has been reiterating the need to support

MobilityApril 19, 2020

SK Energy speeds up digital reform

SK Energy on Sunday announced plans to accelerate its digital reform to innovate the conventional oil refinery business. The subsidiary of SK Innovation, South Korea’s leading energy firm, said it has finalized three directions for the digital transformation of its business model. The company is seeking digital operational excellency, accompanied by a green and next-generation platform. SK Energy has decided to expand the smart plant system that combines artificial intelligence and

IndustryApril 19, 2020

Main opposition in disarray after election defeat

The main opposition United Future Party on Sunday struggled to form a new leadership to navigate its way out of its worst election debacle, suffered in last week’s parliamentary polls. The conservative party’s Chairman Hwang Kyo-ahn stepped down from his post, taking responsibility for the loss in the April 15 general elections. Kim Chong-in, a veteran politician who joined the party to lead its election campaign, is widely expected to take charge, reforming and rebuilding the c

PoliticsApril 19, 2020

[Herald Interview] US literary agency founder says US, UK opening up to Korean books

The first work of Korean literature to be translated into English was “The Cloud Dream of the Nine” in 1922, translated by Canadian missionary James S. Gale. That was almost a century ago, but until recently Korean literature still did not get much exposure in the global market. “The markets in the US and UK are growing a lot for Korean books,” founder of the BJZ Agency Barbara J. Zitwer told The Korea Herald by email.  Based in New York City, the agency speciali

PeopleApril 19, 2020

No. of fund managers hits record high as market rebounds

The number of fund managers in South Korea reached a new high in April, as the market appears to be recovering, data showed Sunday. According to the Korea Financial Investment Association, the number of fund managers in 57 local asset management firms recorded 720, up 20 from the beginning of this year. The corresponding figure had marked the steepest rise from 2007 to 2012 when the nation saw a fund investment boom. The number of local fund managers climbed by more than 200 during the period

MarketApril 19, 2020

IPO market stagnates as coronavirus woes drag on

South Korea’s market volatility is likely to continue as initial public offering plans for April are slipping through the cracks amid the coronavirus outbreak, according to market watchers Sunday. Sencoretech, a Seoul-based engineering firm dedicated to manufacturing steel structures, has withdrawn its listing plan on Kosdaq, which could have raised at least 27.16 billion won ($22.32 million). “Due to the high volatility caused by COVID-19, we decided to cancel the remaining proce

MarketApril 19, 2020

[News Focus] Korea set to be superaged society within 4 years

SEJONG -- South Korea is projected to become one of eight superaged societies in the world by 2024, alongside the existing five -- Japan, Italy, Germany, Sweden and France -- and two other candidates like to ascend -- Canada and the UK. A superaged (or post-aged or ultra-aged) society refers to a nation whose elderly population accounts for 20 percent or more of the entire population (one out of every five people), according to a stipulation by the United Nations. The proportion of seniors, a

Social AffairsApril 19, 2020

S. Korea to resume war remains excavation project in DMZ this week

South Korea will resume an independent project of excavating remains of soldiers killed during the 1950-53 Korean War in the Demilitarized Zone (DMZ) this week, the defense ministry said Sunday, as Pyongyang remains unresponsive to calls to work together as agreed. Under the bilateral military accord signed on Sept. 19, 2018, Seoul and Pyongyang had planned to carry out the excavation project together on Arrowhead Ridge, one of the fiercest battlefields during the war. But South Korea carried

DefenseApril 19, 2020

Tottenham's Son Heung-min to begin military training in S. Korea this week

Tottenham Hotspur forward Son Heung-min will begin his three-week military training this week at a Marine Corps boot camp on the southern island of Jeju to fulfill his minimum military duty after he was given an exemption from mandatory military service. Son, 28, will join the 9th Brigade of the Marine Corps on Monday and undergo training until May 8. He earned his exemption from the military service by winning the gold medal for South Korea at the 2018 Asian Games. Instead of serving around

SoccerApril 19, 2020

S. Korea to host online seminar for South American nations on virus responses

South Korea will host an online seminar for several South American countries early next week to share its experience and know-how in tackling the coronavirus, Seoul's foreign ministry said Sunday. The video presentation is the second of its kind to take place following a similar one held earlier this month. The last session was attended by health officials and medical experts from 13 countries including the United States, Mexico and Italy. Next week's video seminar, slated for Tuesday, is exp

Foreign AffairsApril 19, 2020

One Air Force trainee tests positive for coronavirus

An Air Force trainee has tested positive for the coronavirus, bringing to 40 the total number of virus-infected patients in the military, military officials said Sunday. The trainee from an Air Force unit in Jinju, about 430 km south of Seoul, had already been under isolation since he entered the service early this month because he had contracted the virus before and had been treated. He tested negative in the first test he took right after he entered the service early this month, but the A

DefenseApril 19, 2020

[Conor Sen] Be prepared for profitless recovery

Reopening the US economy is going to be a slow, painful process and nothing like turning a light switch back on. Economic activity and employment is going to be down significantly for a while. If there’s any good news for workers it’s that the economic activity that does occur will be more labor-intensive than it was before the coronavirus dealt such a huge blow to the economy. We’re used to the past couple of rebounds from recessions being jobless recoveries, but this one wi

ViewpointsApril 19, 2020

S. Korea seeks UNESCO listing of April 19 pro-democracy movement

President Moon Jae-in declared a bid Sunday for the inscription of documentary heritage related to South Korea's historic pro-democracy movement in 1960 on UNESCO's global Memory of the World Register. Speaking at a national ceremony to mark the movement's 60th anniversary, he said the bid is meant to "specially commemorate" the spirit of the April 19 Revolution and leave its spirit to mankind, . "The April 19 Revolution was the first democracy movement in a newly independent c

PoliticsApril 19, 2020

Brunch at home with Bimbom

Bimbom co-owner and chef Sim Ka-young has been attracting brunchers with her toothsome eats for over nine years, ever since she started out in Hannam-dong, Seoul.　 Now at two locations -- one in Gyeongnidan-gil and another near Seoul Forest -- Sim shares years of exprience in “Brunch Time,” a compilation of Bimbom’s recipes and know-how, released this March. “‘Brunch Time’ features well-loved dishes from Bimbom, and sadly enough, dishes that are no longer a

FoodApril 19, 2020

New infections fall to single digits; distancing to be eased from Monday

Daily virus infections dropped to the single digit for the first time in 61 days in South Korea on Sunday, but authorities extended a partially eased social distancing campaign until early May, urging the public not to let their guard down yet. The novel coronavirus’s marked slowdown is a result of stringent social distancing earlier, but the past week’s respite with the nationwide election, Easter services and apparently increased social contact could lead to a second wave of infec

Social AffairsApril 19, 2020

Trump says he recently received 'nice note' from NK leader

WASHINGTON -- US President Donald Trump said Saturday he recently received a "nice note" from North Korean leader Kim Jong-un and insisted their relationship remains good. The two countries have failed to make progress in denuclearization negotiations since a February 2019 summit between Trump and Kim ended without a deal. But the leaders have maintained their personal correspondence, with Trump sending a letter to Kim last month to offer US assistance with the coronavirus pandemic.

Foreign AffairsApril 19, 2020