Concerns over new infections grip capital area

New infections reported in the wider Seoul area surpassed those in Daegu and North Gyeongsang Province, the epicenter of the coronavirus outbreak here, on Monday, spurring concerns over transmission in the capital area that is home to half of the South Korean population. New COVID-19 infections reported in Seoul, Gyeonggi Province and Incheon totaled 31, bringing the total number of cases in the metropolitan area to 947, according to data compiled by the Korea Centers for Disease Control and P

Social AffairsMarch 30, 2020

Biz sentiment for April dips to over decade low on COVID-19: survey

Business sentiment in South Korea plunged to an 11-year low for April, due to the growing impact of the new coronavirus outbreak on the economy, a local think tank said Monday. The business survey index (BSI) of the country's top 600 companies by sales came to 59.3 for April, the lowest since January 2009, when the index was 51, the Korea Economic Research Institute (KERI) said in a statement. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means th

EconomyMarch 30, 2020

Retail sales up 9.1% in Feb. amid virus pandemic

Retail sales in South Korea rose 9.1 percent in February from a year earlier as more people purchased daily necessities through online platforms amid the spread of the new coronavirus here, data showed Monday. The combined sales of 26 major offline and online retailers reached 10.6 trillion won ($8.68 billion) last month, compared with 9.71 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. The sharp increase came as online stores enjoyed

ConsumerMarch 30, 2020

TWICE cancels Tokyo Dome concerts over COVID-19

K-pop girl group TWICE has canceled its Japanese concerts, originally scheduled for mid-April, amid the global COVID-19 outbreak. An announcement on the band's official Japanese website last week said "Twice World Tour 2019 'Twicelights' in Japan," scheduled to be held at Tokyo Dome on April 15 and 16, has been canceled due to the coronavirus pandemic. "In light of the situation with no prospect of easing at this time and the policies of governments and related organizations, e

K-popMarch 30, 2020

Airbnb hosts squeezed by COVID-19, angry at refund policies

In January, Airbnb “Superhost” Diana Jeong quit her job as she was expecting a baby this spring. What she did not expect was a pandemic that would upend her transition to becoming a full-time Airbnb host. The former college lecturer made the decision because she found great satisfaction in providing hospitality to guests, but more importantly she could make a living renting her three-bedroom apartment on the global home-sharing platform. She now finds herself selling used items on

IndustryMarch 30, 2020

S. Korea wary of cluster, imported infections amid sign of declining new cases

South Korea saw a slight decline in new coronavirus cases Monday, but cluster infections in Seoul and other regions continued to emerge, coupled with a rise in cases involving arrivals from overseas. The 78 new COVID-19 cases, detected Sunday and down from 105 new cases a day earlier, brought the nation's total infections to 9,661 and marked the 18th consecutive day that new infections have hovered around 100 or fewer additional cases, according to the Korea Centers for Disease Control and Pre

Social AffairsMarch 30, 2020

More than half of BOK's rate setting body to be replaced

The Bank of Korea (BOK) will soon receive four new members of its seven-member monetary policy board, a change that may also lead to a shift in the central bank's future rate policies, market observers said Monday.   The four new members will replace those set to step down April 20.   The outgoing members are Koh Seung-beom, Cho Dong-chul, Shin In-seok and Lee Il-houng.   A change of more than a majority of members may signal a shift in the way the central bank operates its monet

EconomyMarch 30, 2020

COVID-19 mortality rate for elderly patients feared to rise further

Most victims of the novel coronavirus spreading across South Korea have been elderly patients aged 80 and above, with the virus estimated to have claimed the lives of around 1 in 6 patients in the age group, data showed Monday. The mortality rate of COVID-19 patients aged 80 or older stood at 17.51 percent as of Sunday, compared with an average fatality rate of 1.59 percent for all infections, according to the data compiled by the Korea Centers for Disease Control and Prevention (KCDC). The

Social AffairsMarch 30, 2020

REITs take big hit from virus-induced recession woes

South Korean real estate investment trusts (REITs) have been hit hard by escalating concerns over a global recession stemming from the new coronavirus outbreak, data showed Monday. Shares in Lotte Shopping Co.'s REIT, listed in October last year, finished at 4,910 won ($4.03) Friday, down 20.3 percent from the end of last year, according to the data from the Korea Exchange. NH Prime REIT, listed in December, saw its share price tumble 21.8 percent over the cited period. The trust is affiliate

EconomyMarch 30, 2020

S. Korea to grant 'disaster relief money' for households, vows extra budget plan

The South Korean government will grant "emergency disaster relief money" to a majority of the country's households in a one-off stimulus program to help with the economic impact of the coronavirus crisis, President Moon Jae-in said Monday. He also unveiled a plan to seek another supplementary budget during a third session of the emergency economic council at the presidential office Cheong Wa Dae. "The government has decided to pay emergency disaster relief money" directly

PoliticsMarch 30, 2020

Korea's March exports tipped to rise 1.2%: poll

South Korea's exports are expected to have edged up 1.2 percent in March from a year earlier, a poll showed Monday, but the global spread of the new coronavirus is expected to hurt outbound shipments by Asia's No. 4 economy down the road due to the global spread of the new coronavirus. The country's outbound shipments are estimated at $47.5 billion this month, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. The survey was carried out on eight local brokera

EconomyMarch 30, 2020

Injured Tottenham star Son Heung-min returns home to continue rehab

Tottenham Hotspur's injured South Korean star Son Heung-min has returned home to continue his rehab for a fractured arm, due to the spread of the coronavirus in Britain, sources said Monday. They said Son arrived back in South Korea from London on Saturday afternoon. Son suffered a broken right forearm during a Premier League match against Aston Villa on Feb. 16 and underwent surgery in Seoul five days later. He returned to London earlier this month, and following a two-week self-isolation pe

SoccerMarch 30, 2020

N. Korea says it tested 'super-large' multiple rocket launchers

North Korea has tested "super-large" multiple rocket launchers, state media reported Monday, a day after South Korea's military said the communist state fired what appeared to be two short-range ballistic missiles. Seoul's military said Sunday that the missiles were fired from the eastern coastal city of Wonsan, flying 230 kilometers with a maximum altitude of 30 km. The launches marked the latest in a series of weapons tests or artillery firing drills the North has conducted this ye

North KoreaMarch 30, 2020

[News Focus] COVID-19 likely to cause record surge in payouts for jobless in March

SEJONG -- Government payouts for the jobless are estimated to have shot up to a historic high in March in the wake of COVID-19. The Ministry of Employment and Labor is set to make the figure public in about two weeks. A surge in the number of unemployment benefits claimants is projected for sectors including tourism, airlines, restaurants, lodging, private educational institutes and many other retail services. Among the eight major cities and nine provinces in South Korea, Daegu and Nort

EconomyMarch 29, 2020

French expert says second study shows malaria drug helps fight coronavirus

The controversial French professor who believes the anti-malaria drug chloroquine can help beat the coronavirus, has claimed that a new study he has conducted confirms its "efficiency" at combatting the virus. But several other scientists and critics of microbiologist Didier Raoult, who heads the infectious diseases department of La Timone hospital in Marseille, were quick to cast doubt upon his findings. They said the testing was not carried out in a controlled study and that th

World NewsMarch 29, 2020

Spain, Italy demand EU virus help; New Yorkers avoid travel

Spain and Italy have demanded more European help as they fight still-surging coronavirus infections amid the continent's worst crisis since World War II. In the US, authorities urged millions around New York City to stop traveling to keep the virus contained. From Milan to Madrid to Michigan, medics are making tough choices about which patients to save with the limited breathing machines they have. The confirmed global death surpassed 31,000 and new virus epicenters emerged in key US cities

World NewsMarch 29, 2020

German minister commits suicide after 'virus crisis worries'

Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday. Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide."We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded

World NewsMarch 29, 2020

NK propaganda outlet gives first response to online sex crime case in S. Korea

A North Korean propaganda outlet on Sunday gave its first reaction to a high-profile online sex crime case in South Korea, condemning the South as a society where corruption is rampant. Referring to the "Nth room case," Meari reported that South Korea has been shocked by an online sex abuse case involving minors. At least 74 people, including 16 underage girls, are known to have been exploited in the Nth room case, in which the arrested prime suspect, Cho Ju-bin, allegedly l

North KoreaMarch 29, 2020

[News Focus] Schools prepare for online classes as virus shows no sign of abating

Schools are likely to offer virtual classes, instead of opening on April 6 as scheduled, as the novel coronavirus continues to spread. The Education Ministry said last week it was mulling online classes to help schools meet the statutory yearly school days as the spring semester, which normally begins in early March, has already been postponed three times due to COVID-19. “We are considering both offline and online classes to prepare against possible community and classroom transmissio

Social AffairsMarch 29, 2020