Corea del Sud

[News Focus] COVID-19 likely to cause record surge in payouts for jobless in March

The Korea Herald - 0 sec fa
SEJONG -- Government payouts for the jobless are estimated to have shot up to a historic high in March in the wake of COVID-19. The Ministry of Employment and Labor is set to make the figure public in about two weeks. A surge in the number of unemployment benefits claimants is projected for sectors including tourism, airlines, restaurants, lodging, private educational institutes and many other retail services. Among the eight major cities and nine provinces in South Korea, Daegu and Nort
Categorie: Corea del Sud

French expert says second study shows malaria drug helps fight coronavirus

The Korea Herald - 0 sec fa
The controversial French professor who believes the anti-malaria drug chloroquine can help beat the coronavirus, has claimed that a new study he has conducted confirms its "efficiency" at combatting the virus. But several other scientists and critics of microbiologist Didier Raoult, who heads the infectious diseases department of La Timone hospital in Marseille, were quick to cast doubt upon his findings. They said the testing was not carried out in a controlled study and that th
Categorie: Corea del Sud

Spain, Italy demand EU virus help; New Yorkers avoid travel

The Korea Herald - 0 sec fa
Spain and Italy have demanded more European help as they fight still-surging coronavirus infections amid the continent's worst crisis since World War II. In the U.S., authorities urged millions around New York City to stop traveling to keep the virus contained. From Milan to Madrid to Michigan, medics are making tough choices about which patients to save with the limited breathing machines they have. The confirmed global death surpassed 31,000 and new virus epicenters emerged in key U.S. ci
Categorie: Corea del Sud

German minister commits suicide after 'virus crisis worries'

The Korea Herald - 0 sec fa
Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday. Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide."We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded
Categorie: Corea del Sud

N.K. propaganda outlet gives first response to online sex crime case in S. Korea

The Korea Herald - 0 sec fa
A North Korean propaganda outlet on Sunday gave its first reaction to a high-profile online sex crime case in South Korea, condemning the South as a society where corruption is rampant. Referring to the "Nth room case," Meari reported that South Korea has been shocked by an online sex abuse case involving minors. At least 74 people, including 16 underage girls, are known to have been exploited in the Nth room case, in which the arrested prime suspect, Cho Ju-bin, allegedly
Categorie: Corea del Sud

[News Focus] Schools prepare for online classes as virus shows no sign of abating

The Korea Herald - 0 sec fa
Schools are likely to offer virtual classes, instead of opening on April 6 as scheduled, as the novel coronavirus continues to spread. The Education Ministry said last week it was mulling online classes to help schools meet the statutory yearly school days as the spring semester, which normally begins in early March, has already been postponed three times due to COVID-19. “We are considering both offline and online classes to prepare against possible community and classroom transmissio
Categorie: Corea del Sud

[Jeffrey Frankel] Foreseeable unforeseeables

The Korea Herald - 1 ora 38 sec fa
Events like the COVID-19 pandemic, the US housing market crash of 2007-2009 and the terrorist attacks of Sept. 11, 2001, are often called “black swans.” The term is meant to suggest that no one could have seen them coming. But, in fact, these episodes each involved known unknowns, rather than what former US Secretary of Defense Donald Rumsfeld famously called “unknown unknowns.” After all, in each case, knowledgeable analysts were aware not only that such a thing could h
Categorie: Corea del Sud

[Mihir Sharma] Modi’s India shutdown is an unprecedented gamble

The Korea Herald - 1 ora 1 min fa
Since 2016, when Prime Minister Narendra Modi announced at a prime-time television address that he was withdrawing most of India’s currency overnight, such speeches have been preceded by wild speculation. Modi’s message on Tuesday evening was even starker than most expected. From midnight, this country of 1.3 billion will shut down: “For 21 days, forget what going out means.” Modi is one of the world’s most accomplished politicians, a man who has demonstrated time
Categorie: Corea del Sud

IAP President Hwang Cheol-kyu on cover of Prosecutor

The Korea Herald - 1 ora 2 min fa
Hwang Cheol-kyu, president of the International Association of Prosecutors, graces the cover of the latest issue of Prosecutor, a Russian quarterly magazine. The magazine also features a detailed interview with Hwang, who was elected last year as head of the IAP. Hwang had worked as chief prosecutor at the Busan High Prosecutors’ Office and vice president of the IAP before taking the helm of the international body of prosecutors. “Our association should provide a more direct and
Categorie: Corea del Sud

[Graphic News] 6 stars for whom Olympics in 2021 may come too late

The Korea Herald - 1 ora 5 min fa
 With the 2020 Olympics postponed until 2021, there are fears the delay will shatter the gold medal hopes of many aging athletes.  AFP Sport looks at six evergreen stars for whom a delayed Tokyo Games might be a step too far.   1. Roger Federer  The 20-time Grand Slam champion, who will be 40 in August 2021, won Olympic gold when he partnered Stan Wawrinka to the men’s doubles title at the 2008 Beijing Games. Federer was a quarterfinalist in singles in China and a silver medalist in 2
Categorie: Corea del Sud

Mirae Asset takes lead in local pension fund industry

The Korea Herald - 1 ora 18 min fa
Mirae Asset Global Investments, a Korean asset management firm, has been cementing its leadership in the local personal pension fund market with assets under its management continuing to grow this year. Personal pension and retirement pension funds operated by Mirae Asset have reached a combined 7.59 trillion won ($6.3 billion), or 3.63 trillion won and 3.96 trillion won, respectively. As of this year, the pension funds had increased by 500 billion won, the highest increase in the local mark
Categorie: Corea del Sud

[Editorial] Unnecessary costs

The Korea Herald - 1 ora 18 min fa
Two state-funded lenders last week decided to provide 1 trillion won ($825 million) in emergency loans to Doosan Heavy Industries & Construction Co., which is experiencing a credit crunch. Doosan Heavy, the country’s largest power generation equipment maker, suffered a net loss of 495.2 billion won last year. In 2016, it posted an operating profit of 280 billion won. The company has made self-rescue efforts, including cutting out executives and forcing its 6,700 workers to go on unpa
Categorie: Corea del Sud

Churches push ahead with services despite stricter calls for social distancing

The Korea Herald - 2 ore 26 min fa
Some Protestant churches in South Korea pressed ahead with their worship services Sunday despite the government's pleas for stricter social distancing. As part of the government's drive for further social distancing, Prime Minister Chung Sye-kyun earlier warned "stern" legal action would be taken against churches that violate quarantine guidelines that include keeping the distance between followers at least 2 meters while attending services and checking congregants' temperature. Amo
Categorie: Corea del Sud

Korea mulls direct cash transfers to low-income families

The Korea Herald - 2 ore 31 min fa
South Korea announced Sunday that it will supply disaster relief funds to low-income households amid the economic fallout from the coronavirus pandemic. The government will send emergency aid in the form of one-time cash payments to 10 million households earning less than the median income, according to the Ministry of Finance and Economy.  The median income is the middle of the income distribution, where half the households earn more and half earn less. The median income of a four-membe
Categorie: Corea del Sud

Parties head for showdown in polls over coronavirus handling

The Korea Herald - 2 ore 33 min fa
With South Korea’s rival political groups are to go head to head in the April parliamentary elections, the Moon Jae-in administration’s handling of the COVID-19 outbreak is dominating the election talk. The outbreak in Korea has killed at least 152 people and infected 9,583 people so far. The conservative opposition United Future Party urges voters to pass a judgement on the “failed” response of President Moon and his ruling camp, while the liberal bloc is pinning h
Categorie: Corea del Sud

NK tests missiles as US chained to anti-virus efforts

The Korea Herald - 2 ore 35 min fa
North Korea fired what appeared to be two ballistic missiles into the East Sea on Sunday morning, South Korea’s Joint Chiefs of Staff said, urging the regime to halt the “inappropriate” military act amid the coronavirus pandemic. It was the North’s fourth weapons test of the year, all in March.   The missiles flew approximately 230 kilometers from Wonsan on the North’s eastern coast, and reached a peak altitude of 30 kilometers. South Korea’s national secur
Categorie: Corea del Sud

‘S. Korea needs to shift focus to real economy’

The Korea Herald - 2 ore 50 min fa
Bolstered by the government’s decision to double its economic rescue package to 100 trillion won ($82.5 billion), coupled with the central bank’s promise of unlimited quantitative easing, South Korea appears to have evaded a finacial disaster for now. But a bigger task awaits, according to experts: preventing the risks stemming from the novel coronavirus from dragging down the real economy. Officials and experts alike have stressed the need for closer attention to the nonfinanci
Categorie: Corea del Sud

S. Korea to impose two-week quarantine on all overseas arrivals

The Korea Herald - 2 ore 59 min fa
All overseas arrivals to South Korea -- citizens and foreigners alike -- will be subject to a mandatory two-week quarantine starting Wednesday, Prime Minister Chung Sye-kyun announced Sunday, amid growing concerns about imported coronavirus infections.  Those with no residence in Korea will be quarantined at government-designated facilities at their own expense, he added.  The latest measure arrives as Korea is seeing a spike in imported cases, amid an overall slowdown in domestic t
Categorie: Corea del Sud

[News Focus] As demand for Korean-made test kits surges, Seoul mulls who to help first

The Korea Herald - 3 ore 3 min fa
Just last month when South Korea was enduring an explosion of novel coronavirus infections prior to many other areas, it seemed as though the entire world was shutting its door to the country. The Foreign Ministry and its overseas missions at that time were busy dialing up their counterparts and asking them to keep the door open to arrivals from the country.  But lately, as Korea has seemingly managed to flatten the COVID-19 curve in a manner that many countries now hope to duplicate, dip
Categorie: Corea del Sud

Eleventh group of ‘Friends of Korea’ starts spotting errors about Korea

The Korea Herald - 3 ore 31 min fa
The Korean Culture and Information Service, affiliated with the Ministry of Culture, Sports and Tourism, announced that its 11th group of “Friends of Korea” began activities from Friday. Friends of Korea is a group of people whose main task is to report erroneous information about Korea in foreign media to the Korea Culture and Information Service’s online platform, “Fact:Korea.” Over the next four months, the group will also promote Korean culture to foreigners
Categorie: Corea del Sud