South Korea's daily new virus cases fell back to under 500 on Monday due to fewer tests over the weekend as health authorities push to ramp up the vaccination drive on the back of an increased vaccine supply. The country reported 485 more COVID-19 cases, including 454 local infections, raising the total caseload to 144,637, the Korea Disease Control and Prevention Agency (KDCA) said. Monday's figure was sharply down from 556 cases on Sunday. But daily cases usually rise on Wednesday and Friday

Social Affairs June 7, 2021

SK Telecom Co., a major mobile carrier, denied a news report Monday that it is planning to sell a stake in its e-commerce unit 11Street to US retail giant Amazon.com Inc. in a bid to bolster its online retail business. Local media had earlier reported that Amazon will exercise its right to acquire a 30 percent stake in 11Street, and that the US retailer could acquire up to a 50 percent stake in the South Korean e-commerce company. SK Telecom and Amazon strengthened ties in November last year t

Technology June 7, 2021

South Korean stocks opened higher Monday as investor sentiment was boosted by slower-than-expected US jobs data that partially eased concerns of early inflation. The benchmark Korea Composite Stock Price Index (KOSPI) rose 17.48 points, or 0.54 percent, to reach 3,257.56 points in the first 15 minutes of trading. The KOSPI got off to a bullish start as investors are relieved that the increase in US non-agricultural jobs in May turned out to be slower than the market consensus. The key stock i

Market June 7, 2021

"F9," the latest chapter in the "Fast and Furious" series, has become the third title to attract more than 2 million moviegoers in South Korea in 2021, box office data showed Monday. The action blockbuster drew 173,000 people over the Friday-Sunday period, bringing its combined total to 2.05 million, according to the data from the Korean Film Council. It is the third film released in 2021 to hit 2 million in the country, following the Disney-Pixar fantasy animated film &quo

Film June 7, 2021

Public opinion appears to be almost evenly divided over to whom the upcoming new round of COVID-19 relief payments should go, an opinion poll showed Monday. According to the poll conducted on 500 voters nationwide Friday by Realmeter, 38 percent said the stimulus checks should be paid to all nationals. Another 33.4 percent, however, responded the relief funds should selectively go to underprivileged people, the poll results showed. A total of 25.3 percent opposed the payment of emergency relie

Politics June 7, 2021

Foreign investors turned to net sellers of South Korean stocks last month, ending their one-month buying spree, data showed Monday. Foreigners sold a net 10.1 trillion won ($9 billion) worth of local stocks in May, according to the data from the Financial Supervisory Service (FSS). Investors from the United States sold 2.9 trillion won of stocks last month, while investors from Singapore purchased a net 654 billion won of stocks, according to the FSS. As of end-May, local stocks held by forei

Economy June 7, 2021

Two South Korean golfers have finished tied for seventh at the US Women's Open, as the country failed to produce its third consecutive champion at the oldest major tournament in women's golf. World No. 1 Ko Jin-young and second-ranked Park In-bee both finished the championship at one-over 285 at the Olympic Club in San Francisco on Sunday (local time). Ko shot a two-under 69 in the final round, thanks to three birdies against one bogey. Park, a two-time US Women's Open champion, had a 72 on Sun

Golf June 7, 2021

The military began administering Pfizer's coronavirus vaccine to soldiers under 30 years old Monday, the defense ministry said. Of the around 414,000 eligible service members, about 86.5 percent applied for the inoculation, and the vaccine will be given at 91 military clinics across the nation through July 16, according to the ministry. Soldiers aged 30 and older were already given AstraZeneca's COVID-19 vaccine, with about 88 percent, or 116,900 members, of the age group agreeing to take thei

Defense June 7, 2021

The chairman of the ruling Democratic Party on Sunday hinted at the potential parole of Lee Jae-yong, the de facto head of Samsung Group. Business conglomerates have recently called for Lee to be pardoned, especially ahead of the Aug. 15 Liberation Day, an anniversary on which South Korea's presidents have often used their right to grant a special pardon as part of efforts for promoting national unity. "(Lee) could possibly be freed on parole, not limited only to a pardon," Re

Politics June 6, 2021

President Moon Jae-in on Sunday met with the bereaved families of a female Air Force officer, sexually assaulted by a male colleague, and apologized to them for failing to protect her. Moon headed to her funeral home shortly after attending a national ceremony to mark the 66th Memorial Day. The annual event was held at Seoul National Cemetery. Speaking to the victim's parents at Armed Forces Capital Hospital in Seongnam, just south of the capital, the president said he was sorry that the count

Politics June 6, 2021

Unification Minister Lee In-young called Sunday for "maximum flexibility" in deciding what to do with joint military exercises with the United States set for August, saying such drills should never serve as a chance to cause additional tensions on the Korean Peninsula. Lee said on KBS TV's "Sunday Diagnosis Live" that additional consideration should be given to how to deal with the upcoming combined military exercises at a time when the new US policy on Pyongyang has shaped

North Korea June 6, 2021

Big-name bidders are believed to be carefully weighing how much to offer on the eve of bidding for eBay Korea, South Korea's no. 3 retail behemoth, as the deal is expected to bring a seismic change to the local retail industry, industry sources said Sunday. Most of the preliminary bidders are expected to attend the bidding Monday, including South Korea's No. 1 mobile carrier, SK Telecom Co.; retail giant Lotte Group, discount store franchise E-Mart; and MBK Partners, private equity firm and la

Industry June 6, 2021

Apartment prices in Seoul and its adjacent areas grew more than 1 percent for the fifth straight month in May despite the government's efforts to stabilize skyrocketing home prices, data showed Sunday. Housing prices in greater Seoul grew 1.21 percent in May from the previous month, compared with a 1.33 percent gain in April, according to data from the Korea Real Estate Board. Since January, the growth of apartment prices in Seoul, Gyeonggi Province and Incheon, 40 kilometers west of the capit

Economy June 6, 2021

South Korea may collect around 32 trillion won ($28.6 billion) in excess tax revenue this year, potentially securing ammunition to finance another round of an extra budget under review, government sources said Sunday. Finance Minister Hong Nam-ki said Friday the government is considering creating this year's second extra budget with a larger-than-expected tax revenue in a bid to underpin an economic recovery and support vulnerable groups hit hard by the pandemic. The country is estimated to co

Economy June 6, 2021

President Moon Jae-in offered a public apology Sunday apparently over the recent death of a female Air Force officer, who had been sexually assaulted by a male colleague. "I am very sorry to the people over such an evil practice in the barracks culture that led to the tragic and unjust death," he said during his Memorial Day speech at the Seoul National Cemetery. The president stopped short of elaborating, but it was clear he was referring to the noncommissioned officer. She was sexu

Politics June 6, 2021