Pulmuone rolls out sliced kimchi packs for small households

Pulmuone, a fresh food company, said Thursday it has launched two portion packs of Pulmuone Sliced Kimchi for small households, reflecting the increasing number of single and two-person households. The pack comes in two sizes -- 400 and 600 grams. While kimchi products are usually composed of 3 to 10 kilogram packs, Pulmuone said its small portion kimchi will fit the needs of small households. According to Statistics Korea, single and two-person households accounted for 57 percent of the pop

ConsumerApril 2, 2020

NH brokerage unit tops list of average salary

NH Investment and Securities, a local brokerage firm under NH Financial Group, last year paid 123 million won ($99,600) in annual salary on average, higher than any company with assets over 10 trillion won, industry data showed Thursday.  According to Infobigs, a local industry tracker, an employee at NH Investment and Securities received a paycheck higher than the average figure of Samsung Electronics’ employees, which stood at 108 million won.   The average annual salary of

MarketApril 2, 2020

[Newsmaker] Not just Telegram: Predators also use Discord

South Korean authorities are zoning in on sex crimes involving encrypted messaging app Telegram, but the platform is not the only one used for sex crimes. After the discovery of an alleged sexual blackmail and abuse ring on Telegram operated by Cho Ju-bin, local reports say access to illegal material is also being sold on Discord, another messaging app that is newer, and less widely used than Telegram. One of the servers on Discord was found to carry content of a sexual nature with some 900

Social AffairsApril 2, 2020

Korean stocks up over 2%, won edges up

South Korean stocks spiked by more than 2 percent Thursday, helped by stimulus measures and a rise in oil prices. The local currency slightly rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) increased 39.40 points, or 2.34 percent, to close at 1,724.86. Trading volume was moderate at 752 million shares worth some 9.5 trillion won ($7.7 billion), with gainers outnumbering losers 708 to 154. The sharp increase came one day after the index plunged over 4 perce

MarketApril 2, 2020

[Video] ‘Dalgona coffee’ is piping hot during social distancing

With many self-quarantining themselves during the novel coronavirus spread, people are finding innovative measures to stay tuned. For many, who are cooped up at home for days, or even weeks -- visits to movie theaters and shopping malls are a distant dream now -- new hobbies are becoming popular. People have found ways to stay connected with others while practicing social distancing. Exotic challenges on YouTube, Instagram and TikTok are keeping them occupied while hunkering down at home.

CultureApril 2, 2020

Korea’s front-line virus fighters get creative to up their games

Health care workers at the forefront of South Korea’s virus battle are coming up with novel ways to better arm themselves as they strain to stay ahead of the rapidly evolving outbreak. A virus testing booth developed by a doctor at a public health center in southern Busan allows health workers to wear minimum protection as they swab patients. “Health care providers require no personal protective equipment as they stand inside the booth and take samples from patients using the glov

Social AffairsApril 2, 2020

[Herald Interview] Young NK defectors’ school hopes dashed

Students of Yeomyung School, an alternative high school for young North Korean defectors, had high hopes for the school’s relocation plan.   　 In a new location with a new building, they would have more spacious classrooms and a real playground with enough space to kick a ball during recess.   　 But those dreams were dashed late last year.   　 Met with strong resistance from residents in Eunpyeong-gu, a largely residential district in northern Seoul where the school was

North KoreaApril 2, 2020

S. Korea seeks ASEAN+3 summit on coronavirus: Cheong Wa Dae

South Korea said Thursday it is pushing for a special video conference of the leaders of the ASEAN Plus Three (APT) member states over the coronavirus. South Korea is in "close consultations" with relevant nations to arrange the event, deputy presidential spokesman Yoon Jae-kwan said at a press briefing. The APT is comprised of the 10 members of the Association of Southeast Asian Nations, South Korea, China and Japan. The move is in line with President Moon Jae-in's emphasis on &quo

Foreign AffairsApril 2, 2020

FTC to give benefits to firms supporting coronavirus-hit suppliers

South Korea’s antitrust watchdog said Thursday it planned to give benefits to companies that support small and medium-sized enterprises affected by the coronavirus. Since early February, conglomerates have offered support for their suppliers facing disruptions in production and supply. Korean SMEs, which rely mostly on manufacturing and exports, are directly hit by production setbacks and drops in demand caused by the coronavirus. In a recent survey of 407 companies by the Korea Federa

IndustryApril 2, 2020

In phone summit, Colombia asks for supply of S. Korean medical devices

Colombian President Ivan Duque expressed hope Thursday for the importation of South Korean-made medical products, including respirators, in response to the coronavirus outbreak, Cheong Wa Dae said. Speaking on the telephone with President Moon Jae-in, Duque said he is "deeply respectful" of South Korea's handling of COVID-19 and that Colombia desires to learn from it in "the most challenging moment in its history." The virus has sickened more than 900 people in the South Ame

Foreign AffairsApril 2, 2020

Tmon pushes the envelope, plans IPO

  South Korea’s Tmon announced Thursday that it posted its first monthly operating profit in 10 years, and plans to get listed next year. The firm recorded 160 million won ($130,000) operating profit last month, becoming the first local e-commerce platform operator to be in the black. The improvement in revenue began to materialize since the fourth quarter of last year, and will hopefully continue, a company official said. Tmon this year has seen a 44 percent increase in the numb

IndustryApril 2, 2020

NK pushing for five-year space development program purely for peaceful purposes: state media

North Korea has been pushing for a five-year space development program purely for peaceful purposes, a state propaganda outlet said Thursday, despite outside criticism that it's a cover for developing long-range missiles capable of striking the United States. Naenara, the propaganda website, said that the North's National Aerospace Development Administration (NADA) has been working on the space program since 2016 to resolve problems in the economy and improve the lives of North Koreans. "

North KoreaApril 2, 2020

[Management in Korea] Why all shareholders matter (2)

Management in Korea is a regular column written by the members of Egon Zehnder Seoul, touching on various aspects of Korean enterprises and business leaders and offering management tips. -- Ed. By Eugene Kim and Olivia de Patoul In the first article published in March, we discussed how governance in South Korea has become marginalized, the factors that played into creating an environment where shareholders are often ignored, and how preventive steps investors can take to ensure board members u

IndustryApril 2, 2020

Steady stream of imported cases continues: health authorities

South Korea has continued to see a steady stream of new arrivals infected with the novel coronavirus as the country stepped up quarantine measures against entrants this week, public health authorities said Thursday. Since Wednesday, all new arrivals have been required to undergo two weeks of self-isolation, as the country struggled to deal with a rise in imported cases. On the first day of heightened screening for those who came into the country, 18 people tested positive for COVID-19, accoun

Social AffairsApril 2, 2020

South Korea’s population declines by 8,200 since Dec. 1

SEJONG -- South Korea’s population declined by 1,432 to 51.843 million as of March, posting a fall for the fourth consecutive month, according to the Ministry of Interior and Safety. Though the pace in population decrease has slowed, data shows that a historic inverse in Korea’s demographic trend is underway, which started in December. Compared to November, when the number of residents peaked at 51.851 million, the population has declined by 8,232 over the past four months. The mo

Social AffairsApril 2, 2020

8 foreigners denied entry after refusing 14-day quarantine

South Korea’s Ministry of Justice on Thursday said it denied entry to eight foreign nationals who refused to quarantine themselves for two weeks upon arrival here.  “The quarantine office determined it inappropriate for the foreign nationals to enter the country, as they failed to follow the government quarantine measures, despite being notified prior to departure that they would have to self-quarantine,” the ministry said.  Starting Wednesday, Seoul implemented a

Foreign AffairsApril 2, 2020

S. Korea vows to donate $5.73m for N. Korea assistance projects

South Korea has pledged to donate around $5.73 million this year to international agencies to help with their aid projects for North Korea, the unification ministry said Thursday. The money includes $4 million Seoul pledged in December for the World Health Organization's project to provide medical support for North Korean women and kids and $1.73 million promised to help the North's typhoon recovery efforts through the Red Cross, the ministry said. The money represented the largest portion of

North KoreaApril 2, 2020

Government to invest W215b in vaccine research

The government said Thursday it would invest 215.1 billion won ($175 million) over the next 10 years in research and development of vaccines for COVID-19, tuberculosis, hepatitis A and hand-foot-and-mouth disease, among others. The Ministry of Health and Welfare said the money will be spent throughout the entire cycle of vaccine development, from finding candidate substances to clinical trials, starting in July. The project to develop Korea’s own vaccines will cover not only vaccine tec

Social AffairsApril 2, 2020

Top nuclear envoys of S. Korea, US hold phone talks on peace efforts with NK

The top nuclear envoys of South Korea and the United States held phone talks Thursday over the North Korean nuclear issue and joint efforts for lasting peace on the peninsula, the foreign ministry said. Lee Do-hoon, the ministry's special representative for Korean Peninsula peace and security affairs, and Stephen Biegun, the US special representative for North Korea and deputy secretary of state, spoke over the phone in a show of their continued coordination on peace efforts. The conversation

Foreign AffairsApril 2, 2020

S. Korea OKs aid group's plan to provide hand sanitizers to N. Korea amid coronavirus fears

South Korea has approved a local nonprofit organization's plan to provide hand sanitizers to North Korea to support Pyongyang's anti-coronavirus efforts, a unification ministry official has said, in the first such move this year amid chilly inter-Korean relations. The approval was granted Tuesday, allowing the organization to supply hand sanitizers worth around 100 million won ($81,000), the official told reporters on condition of anonymity. He said the money has been funded by the organizatio

North KoreaApril 2, 2020