SM Entertainment, Naver team up to launch concert streaming service

SM Entertainment and Naver are teaming up to launch a new concert streaming service, Beyond Live. The premiere, featuring SuperM, is to air April 26. The two companies have signed a memorandum of understanding in an effort to expand their presence in the global entertainment industry, SM said in a statement Tuesday. The concert streaming platform, which is set to launch sometime in mid-April, will first be available within V Live, Naver’s existing video platform. And as the name sugges

K-popApril 14, 2020

Four Army noncommissioned officers caught for alleged sexual harassment of senior officer

Four Army non-commissioned officers are under investigation for alleged sexual harassment of one of their male superior officers, officials said Tuesday. The male suspects, whose identities were withheld, allegedly visited the senior officer's residence Friday, and at least one of them had physical contact with him, according to military officials. The four were drunk at the time, officials said, adding they are also suspected of bullying their lower-ranked colleagues and others. "We la

DefenseApril 14, 2020

BOK to deliver $2b more to banks via US currency swap this week

The Bank of Korea (BOK) will deliver an additional $2 billion to local banks this week in its third injection of US banknotes under a bilateral currency swap arrangement with the US Federal Reserve aimed at preventing a foreign exchange liquidity crunch here, the bank said Tuesday. The BOK held an online auction to provide up to $4 billion in seven-day debt and 84-day loans. Bids undershot the BOK target of $3.5 billion in 84-day loans and $500 million in seven-day loans. Successful bidders

EconomyApril 14, 2020

N. Korea likely to scale down celebrations for late founder's birthday amid virus fears: official

North Korea is likely to scale down celebrations for the birthday of late founder Kim Il-sung this week as the country is in an all-out fight against the new coronavirus, a unification ministry official said Tuesday. The North is to mark the 108th birthday anniversary of the grandfather of current leader Kim Jong-un on Wednesday, one of the biggest national holidays for the reclusive communist state that is usually celebrated with various events, including a military parade. This year's anniv

North KoreaApril 14, 2020

Domestic stock funds’ returns recover on market rebound

South Korea's domestic stock investment funds are enjoying a recovery in their returns on a recent market rebound, data showed Tuesday. Domestic equity funds with a net asset value of 1 billion won ($821,000) or more yielded an average 7.59 percent in the week ending Monday, according to the data from market tracker FnGuide. The number outperformed an average 5.5 percent return for overseas stock investment funds and 0.22 percent for local bond funds over the cited period. The average yield

EconomyApril 14, 2020

Advance payments in state contracts to be expanded to help virus-hit firms

The Cabinet on Tuesday approved a revised ordinance on advance payments in state contracts to help companies damaged by the coronavirus pandemic, officials said. Under the revised ordinance, the government will be allowed to make up to 80 percent of a total contract sum in an advance payment from late this month, the Ministry of Economy and Finance said in a statement. Currently, the government is allowed to make up to 70 percent of a total contract sum in an advance payment, officials said.

EconomyApril 14, 2020

Moon says int'l ties on quarantine, economy crucial

President Moon Jae-in stressed the importance of close international coordination on both antivirus quarantine and the economy Tuesday in the face of a shift in global order. He was speaking at a weekly Cabinet meeting hours before participating in a video summit on COVID-19 with the leaders of China, Japan and 10 ASEAN member states. "Quarantine cooperation and economic cooperation are two sides of the same coin," he said. "The government will cooperate actively with the entir

PoliticsApril 14, 2020

Koreans in 20s least strict about social distancing: survey

South Koreans in their 20s are the most complacent about social distancing even though the age group makes up the largest proportion of confirmed COVID-19 patients, a survey showed Monday. The survey on public awareness of the novel coronavirus conducted by Hankook Research found that respondents in their 20s were less likely to limit time spent outdoors. About 70 percent of respondents in this age group said they were holding back on outdoor activities, compared to the overall average of 77

Social AffairsApril 14, 2020

Property transfers among family members jump

A growing number of homeowners, including those with multiple houses, in some of South Korea’s major cities have given houses to family members instead of selling them to avoid hefty holding taxes, data showed Monday. The number of houses traded among family members in Daegu has more than doubled on-month from 254 in January to 632 in February, according to data compiled by the Korea Appraisal Board, a government agency that evaluates property values. The figure for Gwangju also increas

MarketApril 14, 2020

[Photo News] Preparations for parliamentary elections

A stadium in Suwon, Gyeonggi Province, prepares for the upcoming April 15 parliamentary elections, on Monday, two days ahead of the elections. The polls will fill South Korea's 300-seat unicameral National Assembly. (Photos: Yonhap) By Kim Tae-eun (kimt17@heraldcorp.com)

PoliticsApril 14, 2020

Previous live BTS concerts to be streamed on YouTube to entertain fans at home

A series of live concerts K-pop boy band BTS performed since 2014 will be shown for free on YouTube this weekend to entertain fans at home in this time of coronavirus self-quarantine. The band's management agency, Big Hit Entertainment, said a total of eight concerts and fan meeting events by the boy band will be broadcast on the BTS channel on YouTube, BANGTANTV, on Saturday and Sunday under the title "BTS Online Concert Weekend." The first set of four performances, including "

K-popApril 14, 2020

Army soldier tests positive for coronavirus again after full recovery

An Army soldier has tested positive for the new coronavirus after having fully recovered from the disease, the defense ministry said Tuesday. Including the soldier, based in Seoul, two service members are currently in treatment for COVID-19, according to the ministry. The military has so far reported 39 infections in barracks. All of the others have fully recovered. As a preventive measure, around 1,200 service personnel are being quarantined at their bases, the ministry said. South Korea r

DefenseApril 14, 2020

Rising relapse cases raise alert amid virus infection slowdown

The number of COVID-19 relapses in South Korea has steadily risen in the past few days, putting health authorities to the test again in the fight against the virus, though the country's new infections have slowed. According to the Korea Centers for Disease Control and Prevention (KCDC), 116 people had been confirmed as relapsed COVID-19 cases as of Monday, up three from a day earlier. Health authorities are striving to find the cause of such cases that could possibly lead to a new source of in

Social AffairsApril 14, 2020

US soldier stationed in Pyeongtaek dies of 'natural causes': USFK

An American soldier stationed in South Korea died of "natural causes" last week, the US military said Tuesday, noting that his death is unrelated to the coronavirus. Sgt. Timothy J. Pressley of the 2nd Infantry Division died on Friday at St. Mary's Hospital in the city of Pyeongtaek, located near his base, Camp Humphreys, 70 kilometers south of Seoul, US Forces Korea (USFK) said in a release. Pressley, a 54-year-old petroleum supply specialist, joined the US Army in 2007, and this w

DefenseApril 14, 2020

Army pushing to establish research center for next-generation weapons

The Army is pushing to set up a research institute for next-generation technologies, such as artificial intelligence and drones to expedite the development of "next-generation game changers," officers said Tuesday. The military recently launched a preliminary feasibility test on the establishment of its own research center and has been looking into foreign cases, according to the officers. Stressing a paradigm shift in terms of warfare on future battlefields, the Army has been worki

DefenseApril 14, 2020

S. Korea confirms 27 new cases, less than 50 for 6th day

South Korea reported 27 new cases of the novel coronavirus on Tuesday, bringing the total number of infections to 10,564. The country, which once had the largest outbreak outside China, saw less than 50 new cases of COVID-19 for the sixth straight day. Of all patients, 7,534 people, or 71.3 percent, have recovered, according to the Korea Centers for Disease Control and Prevention. Of the new cases, 12 came from overseas. Seven of those were detected at airport checkpoints. Korea is still

Social AffairsApril 14, 2020

[Newsmaker] US grateful to S. Korea for supplying virus test kits: official

The United States is grateful to South Korea for supplying COVID-19 testing kits, a senior US government official said Monday ahead of the planned arrival of a shipment of Korean-made kits. Two South Korean companies were set to load their test kits on a US cargo flight Tuesday (Seoul time) after getting interim approval from the US Food and Drug Administration. "We are grateful to our Republic of Korea partners for assisting the United States in procuring COVID-19 tests, and for its sup

Foreign AffairsApril 14, 2020

[Graphic News] Exports of farm goods inch up in Q1

　South Korea's exports of agricultural products moved up 6 percent in the first three months of the year from a year earlier, with shipments to China remaining steady despite disruptions caused by the outbreak of COVID-19, the Agriculture Ministry said. 　Asia’s fourth-largest economy saw its exports of agricultural goods reach $1.74 billion in the January-March period, up 5.8 percent from a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. The figure excl

IndustryApril 14, 2020

Army soldier involved in online sex crime case referred to military prosecution

An Army soldier accused of involvement in a high-profile sexual blackmail case has been referred to the military prosecution, officials said Tuesday. The private first class, whose identity has been withheld, was arrested last week on suspicion of distributing content of women performing gruesome sex acts under coercion with the Nth room case's prime suspect, Cho Ju-bin. After an initial investigation, military police referred him to the military prosecution with a recommendation that he be i

Social AffairsApril 14, 2020