Seoul stocks open sharply higher tracking Wall Street gains

South Korean stocks opened sharply higher Wednesday tracking a record rally on Wall Street as investors bet on stimulus measures around the globe amid the new coronavirus pandemic. The benchmark Korea Composite Stock Price Index had risen 64.16 points, or 3.99 percent, to 1,674.13 as of 9:15 a.m. The Dow Jones Industrial Average on Tuesday skyrocketed 11.4 percent to close at 20,704.91, its biggest one-day gain since 1933, after US lawmakers said they are close to passing a $2.5 trillion stim

MarketMarch 25, 2020

[Monitor] Korea’s employment quality deteriorates

South Korea’s employment quality has deteriorated compared to advanced countries since the 2008 global financial crisis, with the number of part-time workers increasing 49 percent. The Korea Economic Research Institute -- a think tank of Federation of Korean Industries -- analyzed the employment trend of workers working less than 30 hours per week in seven major countries by using statistics from the Organization for Economic Cooperation and Development. Most workers are categorized as

IndustryMarch 25, 2020

Trump requests S. Korea’s medical device support to fight COVID-19 in phone summit with Moon

US President Donald Trump expressed hope Tuesday, in a phone conversation with President Moon Jae-in, that South Korea could provide medical equipment support, according to Cheong Wa Dae. Moon replied that his government would provide "maximum support" if available, as the two leaders discussed bilateral cooperation in the fight against the novel coronavirus pandemic. He then pointed out that approval by the Food and Drug Administration might be required. In response, Trump said he

Foreign AffairsMarch 25, 2020

Dow has biggest rally since 1933, surging 11.4% on stimulus hopes

NEW YORK (AFP) -- Wall Street posted its best performance in nearly 90 years on Tuesday, as indices rallied on hopes that lawmakers would soon agree on a massive stimulus package to blunt the coronavirus' economic impact. The Dow Jones Industrial Average surged 11.4 percent rallying to end the session at 20,704.91, its biggest one-day percentage increase since 1933. The tech-rich Nasdaq gained 8.1 percent to close at 7,417.86, while the broad-based S&P 500 finished the day at 2,447.33, a

World NewsMarch 25, 2020

Tokyo Olympics postponed over coronavirus pandemic

TOKYO (AFP) -- Olympic chiefs on Tuesday postponed the 2020 Tokyo Games until next year, a historic move to push back the world's biggest sporting event due to the coronavirus pandemic that is upending global society. The dramatic step is the first time the Olympics has been postponed in peacetime and comes as a devastating blow to the city of Tokyo and the Olympic movement. The decision came after a telephone call between International Olympic Committee president Thomas Bach and Japanes

World NewsMarch 25, 2020

National volleyball captain Kim Yeon-koung taking Olympic postponement in stride

South Korean volleyball star Kim Yeon-koung had long anticipated that the 2020 Tokyo Summer Olympics would be postponed, amid the global coronavirus pandemic. But expecting it to happen was one thing; hearing the news of the postponement late Tuesday was something else. Kim admitted she was still caught a bit off guard, but the women's national team captain tried to take it all in stride. "Obviously, because of the virus, it's difficult to live a normal life anywhere in the world,"

Olympic GamesMarch 25, 2020

Trump boasts US has tested more people for virus than S. Korea

US President Donald Trump boasted Tuesday that the United States has tested more people for the coronavirus in eight days than South Korea did in eight weeks. Trump sounded jubilant after Dr. Deborah Birx, the White House coronavirus response coordinator, shared the statistics during a virtual town hall hosted by Fox News at the White House. The lack of testing and test kits has added to criticism of the Trump administration's response to the fast-growing pandemic in the country. "And I

Foreign AffairsMarch 25, 2020

Moon, Trump discuss joint efforts against COVID-19 in phone conversation

South Korean President Moon Jae-in and US President Donald Trump exchanged views over the phone Tuesday on bilateral cooperation in the fight against the novel coronavirus, Cheong Wa Dae said. In the 23-minute conversation, made at Trump‘s “urgent request,” Moon said the two countries’ recent currency swap agreement, worth $60 billion, was a “very timely” measure to help stabilize the international financial market. Held two days ahead of the Group of 20 sp

Foreign AffairsMarch 24, 2020

Moon expects ‘unified message’ by G-20 members over COVID-19 response

South Korean President Moon Jae-in stressed the need for a “unified message” from this week‘s teleconference by the leaders of the Group of 20 nations on the coronavirus pandemic, during his telephone conversation with Spanish Prime Minister Pedro Sanchez on Tuesday. He held out expectations for in-depth discussions on international cooperation in both quarantine and the economy during the “special summit” to be held on Thursday, according to Cheong Wa Dae. Moon

Foreign AffairsMarch 24, 2020

Moon to Saudi leader: G-20 teleconference plan timely amid COVID-19 crisis

South Korean President Moon Jae-in said Tuesday the Group of 20 leaders will hold a “timely” teleconference on the coronavirus crisis, as international coordination is urgently needed to tackle the pandemic. In phone talks with Crown Prince Mohammed bin Salman of Saudi Arabia, Moon said the Middle Eastern nation is credited with a “speedy response” to set up the session slated for Thursday. It holds the G-20 presidency this year. “Now that the coronavirus is spre

Foreign AffairsMarch 24, 2020

S. Korea reports 9 more wild boars infected with African swine fever

South Korea said Tuesday it has found nine more wild boars infected with African swine fever in areas near the border with North Korea, bringing the total number of cases to 430. Eight corpses were found in different areas near the border in Gyeonggi and Gangwon provinces, according to the National Institute of Environmental Research under the Ministry of Environment. Another boar tested positive after being caught in a trap. South Korea confirmed its first-ever outbreak of the animal diseas

Social AffairsMarch 24, 2020

China to lift lockdown in most of virus-hit Hubei province

BEIJING (AP) -- Chinese authorities said Tuesday they will end a two-month lockdown of most of coronavirus-hit Hubei province at midnight, as domestic cases of the virus continue to subside. People with a clean bill of health will be allowed to leave, the provincial government said. The city of Wuhan, where the outbreak started in late December, will remain locked down until April 8. China barred people from leaving or entering Wuhan starting Jan. 23 in a surprise middle-of-the-night a

World NewsMarch 24, 2020

Loss of smell, taste, might signal pandemic virus infection

NEW YORK -- A loss of smell or taste might be an early sign of infection with the pandemic virus, say medical experts who cite reports from several countries. It might even serve as a useful screening tool, they say. The idea of a virus infection reducing sense of smell is not new. Respiratory viral infection is a common cause of loss of smell, because inflammation can interfere with airflow and the ability to detect odors. The sense of smell usually returns when the infection resolves, but i

World NewsMarch 24, 2020

Airports to bolster screening measures for domestic flights

South Korea‘s state-run airport operator said Tuesday it will beef up screening measures on all domestic flights to prevent the spread of the new coronavirus. Korea Airports Corp., which operates 14 airports, not including Incheon International Airport, said it plans to check body temperatures of all passengers boarding domestic flights. Passengers with symptoms of viral infection will be requested to refrain from boarding their flights and will be referred to public health authorities

MobilityMarch 24, 2020

US ambassador working from home, in line with social distancing guidelines

US Ambassador to South Korea Harry Harris said Tuesday he is working from home in accordance with the host government‘s social distancing guidelines. “I’d like to offer my sincere thanks to all South Koreans on the front line, who are working tirelessly to flatten the curve of coronavirus. Let me just say that we are all in this together,” he said in the message posted on his Twitter account. Behind him in the video were desktop monitors in what appeared to be his pri

Foreign AffairsMarch 24, 2020

Deepening pandemic tests Seoul’s open-border policy

South Korea is lauded for its open-border policy in its virus response. But now that the outbreak has reached a pandemic scale, calls are growing for tighter border controls. 　 In a phone interview with The Korea Herald, former director of Korea Centers for Disease Control and Prevention Jung Ki-suck stressed that government measures to contain imported infections are just as crucial as social distancing by locals. “Social distancing is about eschewing nonessential travels, within the

Social AffairsMarch 24, 2020

[Graphic News] Number of marriages hits record low in 2019

　The number of South Koreans getting married sank to an all-time low in 2019, government data showed, as young people increasingly delay marriage amid a prolonged economic slowdown. 　The number of couples tying the knot in Asia’s fourth-largest economy reached 239,200 in 2019, down 7.2 percent from the previous year, according to the data from Statistics Korea. 　The figure is the lowest since 1970, when the statistical agency began compiling related data. (Yonhap)

Social AffairsMarch 24, 2020

Kang Daniel hopes to spread positive energy with new music amid coronavirus outbreak

Kang Daniel released his new EP “Cyan” on Tuesday, moving forward with the decision without any changes in schedule. In a statement, the singer acknowledged the record comes at a tumultuous time for the music industry, but said he decided to push ahead to spread positivity. “Everyone is going through a hard time together and I hope I could spread positive energy through this album,” he said. “I am delighted and happy to be able to make music and perform on stage

K-popMarch 24, 2020

Reinstated head quits, signaling peace for Korea National Opera

The Korea National Opera announced its recently reinstated artistic director Yoon Ho-geun quit on Monday, preventing chaos for the troupe that was to be led by two heads. According to the national troupe’s press release Tuesday, Yoon quit his position to “prevent confusion for the opera troupe, and to encourage the advance of the Korean opera scene.”  Earlier this month, the national opera troupe fell into confusion when its former artistic director Yoon Ho-geun retur

PeopleMarch 24, 2020

National football training center to house coronavirus patients

The South Korean football federation announced Tuesday its main national team training center will house coronavirus patients starting this week. From Wednesday, the main building at the National Football Center (NFC) in Paju, north of Seoul in Gyeonggi Province, will be open for those with mild cases of COVID-19, the Korea Football Association (KFA) said. The KFA said it is working with the Ministry of Health and Welfare to keep the NFC open to patients for a maximum two months. Before the

Social AffairsMarch 24, 2020