South Korea's daily coronavirus cases continued to spike to just shy of a record high Thursday as the country implements stronger virus curbs in regions outside of the broader Seoul area to slow down the nationwide spread of the virus. The country added 1,600 new COVID-19 cases, including 1,555 local infections, raising the total caseload to 173,511, according to the Korea Disease Control and Prevention Agency (KDCA). The latest figure is the second-highest daily tally after a record 1,615 cas

Social Affairs July 15, 2021

Six service members aboard a South Korean destroyer on anti-piracy missions off the coast of Africa have tested positive for the coronavirus, the defense ministry said Thursday, sparking fears of collective infections among some 300 people living on the same vessel. The infections appeared to have begun after the 4,400-ton Munmu the Great carrying the Cheonghae Unit was docked at a nearby port from June 28-July 1 to load supplies, and poor initial response to suspicious symptoms could have spre

Defense July 15, 2021

Amicogen Inc. on Thursday announced that it will sell stocks to raise 22.3 billion won The proceeds from the stock offering will be used primarily to finance its facilities. According to a regulatory filing, the company will issue 532,198 common shares at a price of 41,850 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)

Economy July 15, 2021

BTS became the top-selling artist in total CD album sales in the United States in the first half of this year, according to Billboard on Tuesday (US time). The K-pop juggernaut sold 573,000 copies of its CD albums from Jan. 1 to July 1, the most by a single music act in the US, Billboard said, citing MRC Data, a music sales data provider. American singer-songwriter Taylor Swift came in next with sales of 414,000 units. In terms of broader physical album sales that took vinyl albums and casset

K-pop July 14, 2021

South Korean stocks edged down Wednesday, snapping a two-day winning streak as US losses amid renewed inflationary pressure weakened investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) dropped 6.57 points, or 0.2 percent, to close at 3,264.81 points. Trading volume was moderate at about 896 million shares worth some 12.8 trillion won ($11.1 billion), with losers outnumbering gainers 514 to 334. Foreigners sold a net 273 billio

Market July 14, 2021

As South Korea is grappling with the fourth wave of the new coronavirus pandemic, those in their 20s and 30s, most of whom are not yet eligible for vaccinations, are rushing to sign up for leftover Pfizer vaccine doses made available this month. The young adults have been pushed to the back of the line in the country's COVID-19 vaccination scheme, which kicked off in February. Starting July 5, they were allowed to apply for leftover COVID-19 vaccine doses made by Pfizer. A company worker, surn

Social Affairs July 14, 2021

Superband BTS appeared on the popular American talk show "The Tonight Show Starring Jimmy Fallon" on Tuesday (US time), putting on its first TV performance of new release "Permission to Dance." The band's seven members appeared holding violet and purple balloons to perform the upbeat track at an indoor stage filled with balloons. Dancers wearing white and orange later joined the band for a group choreography session. It marked the band's first performance of the new song on

K-pop July 14, 2021

The fate of the extra state budget currently under review at the National Assembly is growing more and more uncertain amid a widening political rift among rival parties and the government over the direction and scope of COVID-19 relief handouts. In late June, the government proposed an extra budget of 33 trillion won ($28.9 billion) in an agreement with the ruling Democratic Party (DP) to finance the fifth round of COVID-19 aid packages. The handouts were set to be given to people in the bottom

Politics July 14, 2021

Cheong Wa Dae said Wednesday that one of its officials has been diagnosed with COVID-19. The official tested positive for the virus earlier in the day while working from home due to their spouse's fever symptom, according to Cheong Wa Dae spokesperson Park Kyung-mee. It is the first known coronavirus infection directly linked with the office of President Moon Jae-in. Park said the official holds the rank of assistant secretary to the president but stopped short of revealing personal informati

Politics July 14, 2021

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Wednesday it has secured a 725 billion-won ($630 million) order to build a fixed offshore facility from Qatar's oil and natural gas company North Oil Co. The fixed platform, a type of offshore platform used for the production of oil and gas, will be used to increase the production of oil in the Middle Eastern country's largest oil field, Al-Shaheen, Daewoo Shipbuilding said in an emailed statement. The shipbuilder plans to deliver th

Industry July 14, 2021

South Korean banks' household loans swung to an upturn in June following the previous month's one-off decline, central bank data showed Thursday. Outstanding bank loans to local households came to 1,030.4 trillion won ($896 billion) as of end-June, up 6.3 trillion won from a month earlier, according to the data from the Bank of Korea (BOK). It marks a turnaround from the 1.6 trillion-won on-month decline in May, which was attributed to repayments of loans by customers after the initial public

Economy July 14, 2021

The US Strategic Command is fully mission capable of providing extended deterrence to South Korea using its full range of capabilities, its commander Adm. Charles Richard was quoted as saying Wednesday. Richard made the remark when he paid a courtesy call on Defense Minister Suh Wook and discussed the regional security situation and their combined deterrence, the defense ministry said. During the meeting, Suh stressed the importance of close coordination between the two countries to deter nucl

Foreign Affairs July 14, 2021

K-pop sensation BTS and dozens of top international artists will join Global Citizen Live, a 24-hour broadcast show intended to help fight COVID-19, climate change and extreme poverty in September, the organizer said. Global Citizen, an international advocacy group based in New York, announced details of the global philanthropic concert Tuesday. The epic daylong show will take place Sept. 25, featuring live performances and events filmed in major cities across six continents, including Seoul,

K-pop July 14, 2021

South Korea said Wednesday it plans to expand its investment in its signature New Deal policy projects in a bid to create more jobs and better prepare for the post-pandemic era. Under the "New Deal 2.0" initiative, the government will invest 220 trillion won ($191 billion) in pushing for digital and green energy projects and promoting inclusive economic growth by 2025, up from its earlier investment plan of 160 trillion won. It is an upgraded version of the New Deal 1.0 drive unveile

Economy July 14, 2021

The delinquency rate for South Korean banks' won-denominated loans rose for the second straight month in May due to an increase in overdue corporate and household loans, the financial watchdog said Wednesday. The rate for bank loans more than 30 days overdue stood at 0.32 percent at the end of May, up from 0.3 percent the previous month, according to the Financial Supervisory Service (FSS). Banks' loan delinquency rate hit a record low of 0.28 percent in March. Compared with a year earlier, t

Economy July 14, 2021