KRX activates ‘circuit breaker’ on Kospi, Kosdaq markets

South Korea’s stock market dived more than 8 percent during Friday morning trading, triggering the stock exchange to temporarily halt trading on both the country’s main bourse Kospi and tech-heavy Kosdaq market. It is the first time in Seoul stock market to activate circuit breakers in both Kospi and Kosdaq market in one trading session. The Korea Exchange activated the circuit breaker to suspend the Kospi’s operation for 20 minutes around 10:43 a.m., as the index plumm

MarketMarch 13, 2020

COVID-19’s slower spread continues, Korea total stands at 7,979

The number of COVID-19 cases in Korea continued the slower pace of increase, coming to 7,979 at midnight Thursday, rising 110 from the same time a day earlier. Thursday also saw 177 people being released from isolation, pushing up the number of those deemed clear of the virus to 510. During the course of Thursday, one more patient died from the illness, pushing the country’s COVID-19 death toll to 67, according to the Korea Centers for Disease Control and Prevention. Daegu continued

Social AffairsMarch 13, 2020

'Parasite' tops W300b in worldwide revenues

The Oscar-winning Korean film "Parasite" has topped 300 billion won ($245 million) in worldwide ticket sales, industry data showed Friday. According to the data by Box Office Mojo, a US film revenues tracker, the black comedy film earned $253.5 million in the world, including $72.6 million in South Korea and $52.8 million in the United States. Released stateside in October last year, "Parasite" is the fourth-highest grossing foreign film in the US, following "Crouchin

FilmMarch 13, 2020

S. Korea reports 110 new virus cases, total now at 7,979

South Korea reported 110 new cases of the new coronavirus Friday, slightly down from 114 new cases a day earlier, bringing the nation's total infections to 7,979, as health authorities ramp up measures to contain cluster infections across the nation. The 110 new cases marked the lowest number of daily infections in more than two weeks. So far, 67 people, mostly elderly patients with underlying illnesses, have died in South Korea from the respiratory virus that emerged in China late last year

Social AffairsMarch 13, 2020

7 more coronavirus cases reported at Sejong govt. complex

South Korea added seven more new coronavirus cases from the oceans ministry in the administrative capital of Sejong on Friday, bringing the number of patients among public servants in the city to 30. The total number of COVID-19 patients from the Ministry of Oceans and Fisheries jumped to 25, after adding 13 new cases a day earlier. Two family members of the infected staff were also confirmed with the virus. The new cases were reported from different floors and areas compared with previous in

Social AffairsMarch 13, 2020

Disney closes US and Paris theme parks, delays 'Mulan' over virus

LOS ANGELES (AFP) -- Disney will close its giant theme parks in Florida, California and Paris and pull the releases of major blockbusters including "Mulan" over the coronavirus, it announced Thursday. The resorts are among the largest theme parks in the world, each drawing tens of thousands of visitors each day. They will remain shut at least until the end of March. "In an abundance of caution and in the best interest of our guests and employees, we are proceeding with the

World NewsMarch 13, 2020

BOK vows market stabilization measures

The Bank of Korea said Friday that it will take active steps to help stabilize the local market, noting the volatility in the country's financial markets may seem excessive. "The Bank of Korea plans to actively use its policy measures to stabilize the financial market as the volatility in the local financial and foreign exchange markets is expanding due to the impact from the spread of COVID-19," the central bank said after an emergency meeting. The meeting, chaired by BOK Dep. Gov.

EconomyMarch 13, 2020

Asian stocks nosedive, extending global rout on recession fears

TOKYO (AFP) -- Asian markets opened in freefall on Friday, extending a global rout that saw bourses experience their worst day in decades on fears of a recession caused by the coronavirus pandemic. Tokyo's benchmark Nikkei index nosedived more than seven percent shortly after the open, with markets around the region plummeting after a historically bad trading day in the US and Europe. The Nikkei 225 index dropped 7.12 percent or 1,322.15 points to 17,237.48 in early trade, while the broader T

MarketMarch 13, 2020

Ruling party to join proportional representation coalition

The ruling Democratic Party (DP) voted Friday to take part in a liberal political bloc designed to win more parliamentary seats via the proportional representation system in next month's general elections, a controversial countermeasure to the main opposition party's similar step. The DP's move is seen as a reversal of its stated protest against the formation of such a political organization often called a paper party. DP lawmakers have strongly criticized the conservative United Future Party

PoliticsMarch 13, 2020

Global stocks suffer historic rout, shrugging of central bank steps

NEW YORK (AFP) -- Global equity markets plunged again Thursday, with some suffering their worst losses in decades, as emergency measures by central banks failed to douse fears over the mounting economic toll from the coronavirus. The Dow lost 10 percent, dropping around 2,350 points, to 21,200.62 in its worst session since 1987. London recorded its worst day since the 1987 crash and Frankfurt its blackest day since 1989, the year the Berlin Wall fell. Paris suffered its worst one-day l

World NewsMarch 13, 2020

Govt. preparing to declare virus-stricken Daegu a special disaster

The South Korean government is preparing to designate Daegu and nearby North Gyeongsang Province, hard hit by massive coronavirus infections, as "special disaster zones" in a bid to facilitate emergency relief and administrative and financial support, according to Prime Minister Chung Sye-kyun on Friday. "Procedures are under way in relation to the declaration" of Daegu, 300 kilometers southeast of Seoul, and the province as special diaster zones," he said at an intera

PoliticsMarch 13, 2020

Seoul stock market crashes 6% as virus panic deepens

South Korea's stock market trading was halted Friday minutes after the opening bell due to sharp falls as panic sell-offs sparked by an overnight plunge on Wall Street amid growing concerns over the new coronavirus' economic fallout around the globe. The benchmark Korea Composite Stock Price Index surrendered 107.82 points, or 5.87 percent, to 1,726.51 as of 9:30 a.m. The local stock market trading was halted after the sharp plunge. The benchmark index dipped by more than 8 percent to as low

MarketMarch 13, 2020

FM says entry restrictions of S. Korea, Japan 'qualitatively different'

Foreign Minister Kang Kyung-wha said Thursday the entry restrictions South Korea enforced against Japan in the face of the new coronavirus concerns are "qualitatively different" from the immigration control measures Tokyo adopted against Seoul. Kang made the remarks during an interview with local broadcaster KBS, referring to Japan's 14-day quarantine order on South Koreans that took effect Monday amid the neighboring countries' protracted row over trade and wartime history. Tokyo

Foreign AffairsMarch 13, 2020

S. Korea orders filter producer to offload inventory amid mask shortage

South Korea said Friday it has ordered one of the filter producers here to release its inventory as the country struggles to keep up the supply of protective masks amid the spread of the new coronavirus. The order will add 4.4 tons of melt-blown nonwoven fabric filters into the market, according to the Ministry of Trade, Industry and Energy. The collected filters will be supplied to nine mask producers, which were on the verge of suspending their operations due to the shortage of materials. T

IndustryMarch 13, 2020

N. Korea may be ready to test more advanced ICBM: US general

WASHINGTON -- North Korea's recent engine testing suggests the regime may be ready to test a more advanced intercontinental ballistic missile that could pose a greater threat to the United States, a US general said Thursday. Gen. Terrence O'Shaughnessy, commander of the US Northern Command and North American Aerospace Defense Command, offered the assessment in a written statement to the House Armed Services Subcommittee on Strategic Forces ahead of a hearing on fiscal year 2021 priorities for

North KoreaMarch 13, 2020

[Box Office] Movies in theaters this week

Dark Waters (US) Opened March 11 Biography, Drama, History Directed by Todd Haynes Corporate environmental attorney Rob Bilott (Mark Ruffalo) has just made partner at his law firm in large part due to his work defending big chem companies. But he finds himself conflicted after being contacted by two West Virginia farmers who believe that the local DuPont plant is dumping toxic waste in a nearby landfill. Bilott files a complaint that marks the beginning of an epic two-decade fight -- one that

FilmMarch 13, 2020

[Around the Hotels] Promotions and Packages

Zest of citrus at Grand Hyatt Seoul Grand Hyatt Seoul’s lounge cafe Gallery presents the Citrus of Spring afternoon tea set, full of vitamin C to strengthen the immune system. The three-tier tray is filled with 16 types of desserts, ranging from yuzu scones, Jeju Island tangerine curd, hallabong compote, clotted cream, tangerine panna cotta, chocolate mousse with tangerine liquid, to tangerine chocolate tarte and more. Diners can select coffee or tea of their choice to pair with the d

FoodMarch 13, 2020

N. Korea lifts quarantine on some 70 more foreigners

North Korea has lifted the quarantine placed on about 70 foreigners over coronavirus concerns, state media reported Friday, bringing the total number of foreigners released from isolation to nearly 300. Those released have been under medical supervision in accordance with guidelines from the central emergency control center, according to the Korean Central News Agency (KCNA). Last week, the North lifted the quarantine on 221 foreigners. The total number of foreigners allowed to leave quara

North KoreaMarch 13, 2020

[Eye Plus] Sewoon Electronics Plaza as springboard for young entrepreneurs

Once a mecca for techies in South Korea in the 1970s, Sewoon Electronics Plaza, has now been transformed into a springboard for young entrepreneurs. Sewoon Sangga, located in Jongno-gu in central Seoul, was built as Korea’s first multi-use residential and commercial complex in 1968, and was home to the country’s very first electronics marketplace -- Sewoon Electronics Plaza. During its heyday, the venue attracted some of the best technicians in the country, hosting some of the

TravelMarch 13, 2020

[Weekender] Love in a time of coronavirus

Roses are red, violets are blue. The season of love is here, and the coronavirus is too. “I was supposed to get married on White Day but I delayed it to this fall due to the coronavirus,” a bride-to-be commented on Naver blog Make My Wedding, a popular online community with more than 38,997 members who are preparing for weddings. In Korea, White Day, which falls on March 14, sees men giving candy to women. On Valentine’s Day, women typically give chocolate to men. “I

CultureMarch 13, 2020