[Weekender] National Gugak Center goes online

While the National Gugak Center in southern Seoul remains closed to prevent the spread of COVID-19, the center continues to put on creative gugak performances and make them available online. As more people became more reluctant to visit concert halls out of fear of COVID-19, the center recently launched various online programs to offer quality gugak performances. One of the highlights is the virtual reality gugak experience.  On Thursday, the center released 37 clips on its YouTube chann

PerformanceMarch 19, 2020

[Ferdinando Giugliano] Euro area’s virus response still insufficient

Christine Lagarde warned European leaders last week that the COVID-19 epidemic risked pushing the economy into a new 2008-style crisis. So far, the response from politicians to the president of the European Central Bank has been late and insufficient. The elements for a comprehensive response are clear: Governments should unleash a large-scale fiscal stimulus, while the ECB launches a credible and sizeable bond-buying program to ensure there is no adverse market reaction. The euro zone may even

ViewpointsMarch 19, 2020

[John Manzella] Coronavirus gives Trump an opportunity to correct missteps on China

President Donald Trump’s intention to persuade China to play by long-established international trade rules is commendable. But focusing on the US trade deficit with China, and imposing tariffs to eliminate it, has proven ineffective. Now, the coronavirus has given Trump an opportunity to shelve that failed strategy and immediately eliminate tariffs on Chinese imports. This shot in the arm will likely be reciprocated by China, stimulate our economies, and give Trump the opportunity to cha

ViewpointsMarch 19, 2020

[Eye Plus] Gaze into dark history, hope for brighter future

Dark tourism has risen in recent years to respond to the contemporary generation’s drive for unique, impactful and meaningful experiences. In Europe, the Auschwitz concentration camp is a classic example of dark tourism, where traces of wartime genocides and ethnic cleansing are preserved. A more recent case is Ground Zero in New York’s Manhattan, where the World Trade Center Twin Towers had stood before the Sept. 11 terrorist attacks occurred in 2011. As for the Korean Peninsula,

TravelMarch 19, 2020

Chief of main opposition's affiliated party resigns ahead of April elections

The chief of the Future Korea Party (FKP) stepped down Thursday amid strife with the main opposition party over the selection of candidates for proportional representation (PR) seats. The FKP was established in February as the satellite party of the main opposition United Future Party (UFP) specially to target PR slots in the April 15 parliamentary elections. But tensions between the two parties heightened as only one person that the UFP had recruited from outside was included in a list of 20

PoliticsMarch 19, 2020

[Kevin Skeoch] Education during the days of COVID-19

Amid the growing concerns of COVID-19 spread in South Korea, international schools are planning and have instituted online learning programs that were rolled out to all students during school closure. Now a global pandemic, international schools in Seoul, are in their fourth week of online learning. Dwight’s online learning program’s stated mission is to harness innovative technologies while keeping its core principles in mind -- personalized learning, global vision, and community,

ViewpointsMarch 19, 2020

Government rolls out W50tr aid package for small businesses

Deadlines on corporate loans will be extended, and a fund to stabilize the country’s stock markets will be established as part of Seoul’s efforts to deal with the economic impact of the COVID-19 outbreak. Under the measures, deadlines for loans taken out by small and medium-sized enterprises and small merchants will be extended by more than six months. In addition, debtors will be given six-month extensions on their interest payments. 　 　According to the government, the measures --

PoliticsMarch 19, 2020

[News Focus] Of 56 areas in Seoul area, Seongnam takes hardest virus hit

SEJONG -- It has been two months since the first case of COVID-19 was reported in South Korea on Jan. 20. The initial phase was limited to the Seoul metropolitan area, which encompasses the capital as well as nearby Gyeonggi Province and Incheon. The first confirmed case occurred in Incheon and the second was reported three days later in Seoul. The third was discovered in Gyeonggi Province on Jan. 26. Though the novel coronavirus from China took its greatest toll in Daegu and North Gyeongsang

Social AffairsMarch 19, 2020

[Exclusive] Foreign residents still locked out of online banks

Concerns about the fast-spreading novel coronavirus are fueling growing demand for “untact banking,” but foreign residents in South Korea still cannot subscribe to online banking services, due to the lack of a verification system. Untact banking refers to online or mobile banking services without physical contact between bank staff and customers.  Online-only banks, which have been in Korea since 2015, allow a totally contactless service, but regulatory issues meant that the

MarketMarch 19, 2020

Strong winds lash S. Korea

Typhoon-like strong winds battered most parts of South Korea on Thursday, causing disruption in the operation of outdoor coronavirus testing stations, fanning mountain fires. 　 Wind gusts of up to 90 kilometers per hour, or 25 meters per second, were forecast to continue into early Friday morning in most parts of the country, according to the Korea Meteorological Administration. 　 The heavy winds result from the gap in air pressure between cold low pressure over North Korea and warm high press

Social AffairsMarch 19, 2020

Kospi plummets below 1,500, lowest in 11 years

  South Korean stocks crumbled again Thursday, hitting the lowest point in nearly 11 years, as foreigners’ selling spree continued over growing global uncertainties. The benchmark Kospi closed at 1,457.64 -- down 133.56 points, or 8.39 percent, from the previous session. It marked the lowest closing price since July 23, 2009, at 1,496.49 points. The tech-heavy Kosdaq also crashed by 56.79 points, or 11.71 percent, to close at 428.35. It recorded the lowest closing since Oct. 5, 2011,

MarketMarch 19, 2020

[Newsmaker] Chung Euisun elected as chair of Hyundai Motor Group board

Hyundai Motor Group Executive Vice Chairman Chung Euisun has been elected the new chairperson of the group’s board of directors, in an apparent move to give the heir apparent more managerial power as he seeks to strengthen the future mobility vision. According to the company, it was decided for Chung to succeed his father, Hyundai Motor Group Chairman Chung Mong-koo, in his chairmanship during a board of directors meeting held Thursday. The senior Chung has held the position for 21 year

MobilityMarch 19, 2020

Asiana Airlines sends chartered flight to bring Koreans from Iran

South Korean full-service carrier Asiana Airlines said Thursday that it has sent a chartered flight to bring back some 80 South Koreans stuck in Iran, where the COVID-19 has been rapidly spreading.  Asiana Airlines said 80 Koreans left Tehran, Iran, to board a chartered flight in Dubai, United Arab Emirates. The flight departed the Al Maktoum International Airport, some 37 kilometers from Dubai, on Thursday morning and arrived at Incheon International Airport at 4:35 p.m. Ministry data s

MobilityMarch 19, 2020

Life expectancy gap between Koreas is 11 years: CIA

North Koreans born in 2020 can expect to live about 71 years on average, whereas their South Korean neighbors have an average life expectancy of about 82 years, the Central Intelligence Agency said in its latest World Factbook. Boys and girls in the North have life expectancies of 67 and 75 years, respectively, as opposed to 79 and 85 in the South, the CIA said. The median ages for the North and South stand at 34 and 43, respectively. North Koreans over the age of 65 make up only 9 percent of

North KoreaMarch 19, 2020

Korean firms rush for audit lifeline amid coronavirus spread

South Korea’s financial regulator said Thursday that 69 domestic companies have sought audit relief due to shortcomings in their reports for 2019, as the novel coronavirus has undermined their key operations, especially in China. Over two-thirds of companies that have applied for regulatory relief have a presence in China, and determined their filings cannot be completed by March 30, according to the Financial Services Commission. They include tobacco product maker KT&G, light bulb ma

MarketMarch 19, 2020

S. Korea evacuates 80 citizens from Iran on charter flight

The South Korean government sent a charter flight to Iran on Thursday and evacuated 80 people from the Middle Eastern country, which is struggling with a severe coronavirus outbreak. 　 The Asiana Airlines flight departed from Al Maktoum International Airport near Dubai at 8:05 a.m. (Korean time), carrying 74 Korean nationals and six Iranian family members, and arrived at Incheon International Airport on Thursday at around 4:30 pm. The passengers had flown to Dubai on an Iran Air flight. 　 Up

Foreign AffairsMarch 19, 2020

USFK completes sorting out Korean employees to be excluded from potential furlough

US Forces Korea (USFK) said Thursday it has completed sorting out South Korean employees providing essential duties to be excluded from a potential furlough in case Seoul and Washington fail to work out a defense cost-sharing deal in time. USFK has warned that some of its 9,000 Korean workers could be forced to go on unpaid leave starting in April should Seoul and Washington fail to reach a deal on the Special Measures Agreement (SMA) that regulates their sharing of the upkeep of the 28,500-st

DefenseMarch 19, 2020

BOK to purchase 1.5tr won in bonds as market stabilization step

The Bank of Korea on Thursday said it will purchase 1.5 trillion won ($1.16 billion) in state bonds to help stabilize the local market hit hard by growing jitters caused by the spread of the new coronavirus. "The Bank of Korea decided to purchase state bonds to help stabilize the bond market and expand its holdings subject to repurchase agreements," the central bank said in a press release. The announcement came shortly after local authorities said they are ready to step in if neces

EconomyMarch 19, 2020

Third athlete on national fencing team tests positive for COVID-19

South Korea’s national fencing team reported that a third athlete on the team had been confirmed to have the novel coronavirus, health officials said Thursday. The 36-year-old athlete tested positive Wednesday. She had returned home from an international competition in Budapest, Hungary, over the weekend, according to South Chungcheong Province health authorities. She was tested for the virus at a test center in Taean, South Chungcheong Province, earlier this week after a teammate was

Foreign AffairsMarch 19, 2020