Monday, March 2, 2020
Round-up of important news from major Korean dailies and from international media today
The Korea Post (http://www.koreapost.com/)
S. Korea's virus cases expected to keep rising in early March, infection tally tops 3,700
South Korea's novel coronavirus cases are likely to keep rising through early March as local health authorities vowed to beef up the anti-virus fight, focusing on a minor religious sect that has been at the center of the outbreak here. South Korea reported another daily spike of COVID-19 infections, with 586 additional cases bringing the total here to 3,736 as of 4 p.m., according to the Korea Centers for Disease Control and Prevention (KCDC).
U.S. is still waiting for N. Korea to continue the dialogue
The United States stands ready to continue denuclearization negotiations with North Korea when the regime is ready to talk, a top American envoy said Wednesday. Alex Wong, the U.S. deputy special representative for North Korea, made the remark at a seminar in Washington as negotiations between the two countries have stalled for about a year. Wong, the No. 2 State Department official in charge of the negotiations, appeared to put the ball back in North Korea's court.
Daol Global Launches ‘Kocopot’, A K-Beauty B2B Platform To Bridge Middle East Market And Korean Companies
Daol Globalis a global cosmetic company that brings Korean beauty to the world. It distributes and exports Korean cosmetic products mainly to the Middle East, South East Asia and Africa. It also provides other services such as; business consulting, organizing exhibitions, brand making, etc. Daol Global has partnerships with various types of companies such as trading companies, advertising companies and influencers all over the world. It’s working on spreading the beauty of Korea through more than 20 renowned Korean brands such as Ariul, Style71 and NOHJ.
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KBS (http://world.kbs.co.kr/english/news/)
S. Korean Im Sung-jae Captures First US PGA Title
South Korean golfer Im Sung-jae captured his first U.S. PGA Tour title on Sunday. Im finished at six-under 274 in the Honda Classic at Palm Beach Gardens, Florida, beating Mackenzie Hughes of Canada by one stroke. He shot four-under 66 in the final round. Im, the 2018-2019 PGA Tour Rookie of the Year, has become the seventh South Korean to win on PGA Tour.
Gov't to Submit Extra Budget Bill on COVID-19 Thursday
Finance Minister Hong Nam-ki said on Monday that the government plans to submit an extra budget bill on Thursday to fight the rapid spread of the novel coronavirus. In a meeting with ruling party and government officials at the National Assembly, Minister Hong said the government worked day and night last week to draw up the bill in order to secure its passage during the extraordinary session that will end on March 17.
Parliament Set to Begin Interpellation Session Monday
The National Assembly is set to hold a three-day interpellation session on Monday, a week after the session was cancelled when a coronavirus patient was found to have attended a parliamentary forum. The question-and-answer session will focus on politics, diplomacy, unification and security on Monday; economy on Tuesday; and education, society and culture on Wednesday.
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Yonhap (http://english.yonhapnews.co.kr)
81 countries restricting entry from S. Korea over coronavirus fears
More than 80 countries are imposing entry restrictions and tougher quarantine procedures for travelers from South Korea over new coronavirus concerns, despite Seoul's continued efforts to persuade countries to refrain from taking excessive measures. As of late Sunday, 37 countries are barring the entry of South Koreans and foreigners who have visited the South in the past few weeks, up from the previous day's tally of 34, according to foreign ministry website.
Corona virus-hit companies to resume production this week
South Korean companies that have reported novel coronavirus-infected workers at their manufacturing sites in the country's virus hotspots will resume production this week after a temporary shutdown, industry insiders said Monday. South Korea has so far reported more than 3,700 new coronavirus cases, with more than 87 percent of them identified in the southeastern city of Daegu and surrounding North Gyeongsang Province -- the epicenters of the virus outbreak here.
Medical staff under pressure amid spiking virus cases in S. Korea
The surge in the number of confirmed cases of the novel coronavirus here is starting to cause serious fatigue among medical personnel, with manpower shortages becoming an issue in some hard-hit areas. Fatigue among medical staff has been most acute at hospitals designated to handle coronavirus patients only. The large number of patients in Daegu, 300 kilometers southeast of Seoul, and the surrounding North Gyeongsang Province -- the epicenters of the virus outbreak in South Korea -- has exacerbated the problem.
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The Korea Herald (http://www.koreaherald.com)
S. Korea's virus cases expected to keep rising in early March, infection tally tops 3,700
South Korea on Sunday said the country's novel coronavirus cases are likely to keep rising through early March as local health authorities vowed to beef up the anti-virus fight, focusing on a minor religious sect that has been at the center of the outbreak here. South Korea reported another daily spike of COVID-19 infections, with 586 additional cases bringing the total here to 3,736 as of 4 p.m., according to the Korea Centers for Disease Control and Prevention (KCDC).
Govt. to submit extra budget bill on coronavirus Thursday
South Korea's finance minister said Monday the government plans to submit an extra budget bill to fight the fast spread of the new coronavirus this week, expressing readiness for its swift implementation. The government has been drawing up the bill to submit to the National Assembly on Thursday, Finance Minister Hong Nam-ki told a consultative meeting with ruling party and government officials over the virus outbreak.
Some 200 South Koreans forced into isolation in Vietnam
The Foreign Ministry said Sunday it is in talks with Vietnamese authorities concerning over 200 citizens placed in isolation upon arrival there without prior notice. According to the South Korean Embassy in Vietnam, there are 127 nationals quarantined in northern parts of the country including Hanoi, 75 in Ho Chi Minh City and 21 in Danang, spread across military facilities, hospitals and some at the airport.
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The Korea Times (http://www.koreatimes.co.kr)
S. Korea revamps coronavirus countermeasures as patients die unattended
South Korean health authorities said Monday that they will focus more on actively curing severe cases of the novel coronavirus such as those involving elders and patients with chronic health issues. Under the new response and treatment guidelines, all COVID-19 patients will receive customized treatment depending on the severity of their symptoms, according to the Korea Centers for Disease Control and Prevention (KCDC).
Coronavirus infections soar beyond 3,500 with 20 deaths
After the number of confirmed COVID-19 infections surged to nearly 4,000 Sunday, the government said it would revise virus-response measures to prioritize hospitalization of those with severe symptoms. Confirmed cases of COVID-19 here reached 3,736 with 20 reported fatalities as of 10 p.m., with the Korea Centers for Disease Control and Prevention (KCDC) and Daegu City Government reporting 731 additional infections.
Virus paints South Korea into diplomatic corner
Concerns are growing that the fast spread of the coronavirus in Korea is not only threatening public health but also affecting the country's diplomacy and defense postures. Korean citizens have been being restricted from entry or have to undergo rigorous quarantine procedures in nearly 80 countries, while regular joint military exercises with the U.S. have been postponed. Foreign Minister Kang Kyung-wha is facing the cold shoulder among her counterparts, with her planned meeting with British Foreign Secretary Dominic Raab last week being abruptly canceled.
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HanKyoReh Shinmun (http://english.hani.co.kr)
Electric battery industry attracts players from other industries
As tougher environmental regulations have ushered in a new era of electric vehicles, the growth of the battery industry is fueling growth in other industries as companies jump on the battery bandwagon. In particular, businesses whose existent projects have exhausted their growth potential are actively seeking out battery-related industries to pave their future paths. POSCO provides an illustrative example of such a business. In 2018, POSCO settled on cathode/anode materials -- key components of rechargeable batteries -- as an area for future growth, setting a sales target of 17 trillion won (US$14.01 billion) by 2030.
Number of franchises in S. Korea steadily increasing, says FTC
An analysis of the franchise industry at the end of 2019 by South Korea’s Fair Trade Commission (FTC) found that the total number of franchises in the country is steadily increasing. The most popular category of restaurant franchises was fried chicken restaurants, clocking in at about 25,000, but that category also had the highest closure rate, at 10.6%.
S. Korea expected to see natural population decline in 2020, 9 years earlier than expected
South Korea’s total fertility rate hit yet another record low last year, dropping to 0.92. This rate calculates the number of children a woman is expected to have over the course of her lifetime. The country is expected to see its population begin to decrease naturally this year.
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Chosun Ilbo (http://english.chosun.com)
More Deaths in Daegu Amid Shortage of Hospital Beds
More coronavirus patients in Daegu are dying at home as they wait for hospital beds to become available amid a spike of infections there. Four patients have now died in their own homes in the southwestern city. One 86-year-old woman who tested positive on Feb. 28 and suffered from diabetes and hypertension could not be hospitalized due to a shortage of beds and died Sunday. Another 80-year-old woman died in her home while awaiting test results and was found infected afterwards.
More Deaths in Daegu Amid Shortage of Hospital Beds
More coronavirus patients in Daegu are dying at home as they wait for hospital beds to become available amid a spike of infections there. Four patients have now died in their own homes in the southwestern city. One 86-year-old woman who tested positive on Feb. 28 and suffered from diabetes and hypertension could not be hospitalized due to a shortage of beds and died Sunday. Another 80-year-old woman died in her home while awaiting test results and was found infected afterwards.
'Shy' Coronavirus Patients Thwart Quarantine Efforts
Health officials are being frustrated by suspected coronavirus carriers who avoid admitting the extent of their movements or their affiliations to the Shincheonji sect, a hotbed of infections. Some are health officials themselves and even prison officials who have belatedly been identified as Shincheonji members. One pastor at a big church in Seoul who tested positive later had attended several services but failed to come forward for fear of being vilified.
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The Dong-A Ilbo (http://english.donga.com/)
Moon says South Korea will overcome COVID-19
“By overcoming the pressing the COVID-19 outbreak at home and achieving peace and common prosperity on the Korean Peninsula, we will build a Republic of Korea that cannot be shaken,” said Moon Jae-in, suggesting North Korea to embark on cooperation in the health industry with the South. “The COVID-19 outbreak can threaten our lives temporarily, but it cannot break our unity and hope,” Moon stressed at a national ceremony to mark the 101st anniversary of the March 1 Independence Movement at Paiwha Girls' High School in Seoul.
SK, KT, LG Uplus provide three different colors
As Samsung Galaxy S20 struggles hit by the coronavirus outbreak, SK Telecom, KT and LG Uplus are focusing on the “color marketing” to turn the tide. The three mobile carriers have released the device in their exclusive color options, blue, red and pink, which have been met with great response. SK Telecom has secured blue for Samsung Galaxy S20 again to target customers in their 30s and 40s. It launched Galaxy Note 10 in blue last year.
U.S. places travel ban on Daegu
The United States upgraded its travel advisory for Daegu on Sunday to the highest level “Do Not Travel to” due to the spread of the disease in the city. U.S. Vice President Mike Pence, who is in charge of responding to the COVID-19 outbreak in the country, joined U.S. President Donald Trump in a press conference and said that the State Department is increasing its warning advising Americans not to travel to parts of Italy and South Korea affected by the virus.
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The KyungHyang Shinmun (http://english.khan.co.kr/)
“The Good Lessor” Providing Rent Discounts: Government to Make up for Half the Discount
The government will directly and indirectly support the rent of independent storeowners suffering from the sluggish economy due to the COVID-19. The government will make up for half of the rent discounts provided by “good lessors” in taxes and lower the rent in facilities owned by the central and local governments up to a fifth of the current rate in order to share the burden.
President Moon, “Tighten Taxes on Owners of Luxury and Multiple Homes. Don’t Hesitate Because of the Elections”
On February 27, President Moon Jae-in spoke about government measures to stabilize the real estate market and said, “We need to ease the tax burden on single-home owners who are the actual residents, while enforcing tougher taxes on people who own expensive homes and multiple homes.” He also said, “We must not hesitate, just because the elections are approaching.” While receiving a report from the Ministry of Land, Infrastructure and Transport and the Ministry of Oceans and Fisheries at Cheong Wa Dae this day, President Moon said, “There can be no compromise or political consideration to the fundamental principle that we must thoroughly block speculation while protecting the end users.”
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Maeil Business News Korea (http://www.pulsenews.co.kr/)
KEPCO reports worst performance since 2008 on weak demand, higher costs
South Korea’s state utility firm Korea Electric Power Corp. (KEPCO) disclosed its operating loss stretched to over $1 billion, the biggest since financial crisis in 2008, last year due to softer electricity demand amid economic slowdown and costs from migration to cleaner fuel. KEPCO said in a regulatory filing on Friday that its consolidated operating loss for full 2019 was 1.35 trillion won ($1.11 billion), yawning from 200 billion won loss a year ago, and the worst since 2008 when the loss amounted to 2.79 trillion won. Sales fell 2.5 percent on year to 59.9 trillion won.
Kiwoom Securities rakes in all-time high OP in 2019
South Korea’s Kiwoom Securities Co. pulled off a record profit last year despite overall bearishness in the equity market thanks to its diversification to investment banking. According to industry sources on Thursday, operating profit of Kiwoom Securities was estimated to have exceeded 473 billion won ($389.1 million) in 2019, up 63.7 percent from 289 billion won in 2018. The results beat market estimates, which expected its operating profit to reach slightly over 400 billion won.
Korea announces $13.2 bn tax relief plan, readies extra budget next week
South Korea plans to unleash 16 trillion won ($13.2 billion) in tax and financial benefits and package a supplementary budget of at least 6.2 trillion won to prop up demand and assist businesses devastated by the coronavirus outbreak. Finance Minister Hong Nam-ki announced the new measures Friday during a meeting to minimize the economic fallout of the deadly new virus that has been sweeping the country with raging force since last week. As of Friday, Korea reported 256 new infections, bringing the total tally to 2,022.
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What’s ticking around the world at this second?
See what the world media around the world have to report:
USA Today www.usatoday.com aallman@gannett.com
The New York Times www.nytimes.com inytletters@nytimes.com
Wall Street Journal www.wsj.com support@wsj.com, service@wsj-asia.com
Financial Times www.ft.com ean@ft.com
The Times www.thetimes.co.uk help@timesplus.co.uk
The Sun www.thesun.co.uk talkback@the-sun.co.uk
Chinese People's Daily www.people.com.cn kf@people.cn
China Daily www.chinadaily.com.cn circulation@chinadaily.com.cn
GwangmyeongDaily www.gmw.cn webmaster@gmw.cn
Japan's Yomiuri www.yomiuri.co.jp japannews@yomiuri.com
Asahi www.asahi.com customer-support@asahi.com
Mainichi www.mainichi.jp
Le Monde www.ilemonde.com
Italy LaRepubblica www.quotidiano.repubblica.it vittorio.zucconi@gmail.com
Germany Frankfurter AllgemeineZeitung www.faz.net anzeigen.ausland@faz.de
SüddeutscheZeitung www.sueddeutsche.de forum@sueddeutsche.de
Australia Brisbane Times www.brisbanetimes.com.au syndication@fairfaxmedia.com.au
Sydney Morning Herald www.smh.com.au
Colombia Reports http://colombiareports.com
Bogota Free Planet http://bogotafreeplanet.combfp@bogotafreeplanet.com
El Universal http://www.eluniversal.com.mx/english
Andes http://www.andes.info.ec/en
Ecuador Times http://www.ecuadortimes.net
The Jordan Times https://www.jordantimes.com
LSM.lv http://www.lsm.lv/en
The Baltic Times http://www.baltictimes.com, lithuania@baltictimes.com, estonia@baltictimes.com, editor@baltictimes.com
El Pais http://elpais.com/elpais/inenglish.html
Philippine Daily Inquirer https://www.inquirer.net
Daily News Hungary http://dailynewshungary.com
Budapest Times http://budapesttimes.hu
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The Korea Post is running video clips from the different embassies.
Azerbaijan: https://www.youtube.com/watch?v=OR8CBpcQ4WM
Sri Lanka: https://www.youtube.com/watch?v=hByX92Y2aGY&t=22s
Morocco: https://www.youtube.com/watch?v=jfFmp2sVvSE
And many other countries.
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