yna--2020-08-12--(LEAD) Seoul stocks up for 8th consecutive session on hopes for vaccine, economic rebound

The local stock market was bearish in the morning , as investors weighed profit-taking in the week-long rally .
But @ @ @ @ @ last 30 minutes before the session 's close , with investors betting that the index @ @ @ @ @ .

(ATTN: ADDS bond yields at bottom, photo)
SEOUL, Aug. 12 (Yonhap) -- South Korean stocks extended their gaining streak to an eighth session on Wednesday on hopes for COVID-19 vaccines and optimism for a quick economic rebound from the impacts of the new coronavirus pandemic. The Korean won rose against the U.S. dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 13.68 points, or 0.57 percent, to close at 2,432.35.
Trading volume was high at about 753 million shares worth some 16.4 trillion won (US$13.8 billion), with losers outnumbering gainers 446 to 415.
Foreigners sold a net 176 billion won, while retail investors purchased a net 356 billion won. Institutions offloaded a net 203 billion won.
Electronic signboards at the trading room of Hana Bank in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,432.35 on Aug. 12, 2020, up 13.68 points or 0.57 percent from the previous session's close. (Yonhap)
The local stock market was bearish in the morning, as investors weighed profit-taking in the week-long rally. But it turned upward in the last 30 minutes before the session's close, with investors betting that the index has room for further gain.
"The continued rally is backed by ample liquidity, better-than-expected corporate earnings in the first half and expectations for a rebound next year," Kang Bong-joo, a researcher at Meritz Securities, said.
Investor sentiment was also boosted by rosy expectations for brisk global demand for chips and pharmaceutical products.
Large caps closed mixed with Samsung affiliates logging decent gains.
Market bellwether Samsung Electronics advanced 1.37 percent to 59,000 won, while No. 2 chipmaker SK hynix slid 0.37 percent to 81,000 won.
Top pharmaceutical company Samsung Biologics spiked 4.85 percent to 843,000 won on expectations of expanded capacity. Samsung C&T, a large shareholder of Samsung Biologics, shot up 8.14 percent to 119,500 won.
In contrast, automakers finished lower as investors cashed in part of recent gains.
Hyundai Motor, the country's largest automaker, dipped 3.91 percent to 172,000 won, with its smaller affiliate Kia Motors down 4.13 percent to 45,250 won.
Internet giant Naver lost 2.09 percent to 305,000 won, while its rival Kakao added 0.43 percent to 354,000 won.
Leading steelmaker POSCO climbed 0.72 percent to 208,500 won.
The local currency was trading at 1185.30 won against the U.S. dollar, up 0.30 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.9 basis point to 0.827 percent, and the return on the benchmark five-year government bond added 1.0 basis point to 1.087 percent.
jwc@yna.co.kr
(END)


yna--2020-08-13--Seoul gov't bans Liberation Day rallies

Seoul gov't bans Liberation Day rallies

Authorities already banned gatherings in public squares in the city center , including Seoul Plaza and Gwanghwamun Square , in @ @ @ @ @ measures , but they have imposed few restrictions on rallies held elsewhere .
Aware of @ @ @ @ @ civic groups , mostly conservatives critical of the Moon Jae-in administration and its policies , @ @ @ @ @ hold rallies outside the no-assembly zones .

SEOUL, Aug. 13 (Yonhap) -- The government of Seoul said Thursday it issued no-assembly orders for massive Liberation Day rallies planned by various civic groups in central parts of the capital, citing fears of coronavirus transmission.
The Seoul metropolitan government said it has officially banned 26 civic groups from holding rallies throughout central Seoul on Saturday, which coincides with the annual Liberation Day, a national holiday to celebrate the end of Japan's 36-year colonial rule of the Korean Peninsula in 1945.
The municipal government said its decision is aimed at halting the spread of the coronavirus, as the Saturday rallies are expected to draw some 220,000 participants to the bustling downtown areas.
Police officers are on duty at Gwanghwamun Square in downtown Seoul on Aug. 12, 2020. (Yonhap)
"Recently, clusters of virus infections have broken out at the Namdaemun Market, some religious facilities and other places, heightening public concern about the spread of COVID-19. Citizens are also concerned about possible virus transmission from the massive Aug. 15 rallies," the municipal government said.
The government said it has sent written requests for the cancellation of rallies to all of the concerned civic groups, but seven of them have refused to comply.
The Seoul Metropolitan Police Agency has been asked to cooperate in enforcing the no-assembly administrative orders, it said, noting violators will face punishments and rally organizers will be asked to pay compensation if any transmission occurs among rally participants.
Authorities already banned gatherings in public squares in the city center, including Seoul Plaza and Gwanghwamun Square, in February as part of coronavirus measures, but they have imposed few restrictions on rallies held elsewhere. Aware of the ban, the 26 civic groups, mostly conservatives critical of the Moon Jae-in administration and its policies, have declared their plans to hold rallies outside the no-assembly zones.
ycm@yna.co.kr
(END)


yna--2020-08-13--Seoul stocks erase gains late Thursday morning on profit-taking

The local currency was trading at 1,184.05 won against the U.S. dollar , up 1.25 won from the previous session @ @ @

SEOUL, Aug. 13 (Yonhap) -- South Korean shares erased some of their earlier gains late Thursday morning, as investors weigh profit-taking.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.88 points, or 0.49 percent, to 2,444.23 as of 11:20 a.m.
Large caps traded mixed.
Market bellwether Samsung Electronics lost 0.17 percent, while No. 2 chipmaker SK hynix added 0.12 percent.
Leading chemical maker LG Chem hiked 3.51 percent on high hopes for expanding EV battery markets.
Top automaker Hyundai Motor retreated 0.29 percent, and its smaller affiliate Kia Motors remained flat.
Pharmaceutical and game shares logged strong gains amid new coronavirus concerns.
Giant drugmaker Celltrion spiked 4.30 percent, as the company began selling COVID-19 diagnostic kits in the United States.
Top game publisher NCSOFT surged 5.18 percent on estimate-beating quarterly earnings. Its rival Netmarble also advanced 1.67 percent.
Internet portal giant Naver rose 0.49 percent, with its rival Kakao jumping 2.26 percent.
The local currency was trading at 1,184.05 won against the U.S. dollar, up 1.25 won from the previous session's close.
jwc@yna.co.kr
(END)


yna--2020-08-13--Cosmax Q2 net income up 134.9 pct. to 13.8 bln won

The operating profit was 49.2 percent higher than the average estimate , according to the survey by Yonhap Infomax , @ @ @ @ @ Yonhap News Agency .
The estimate of net profit was not available .
( END @

SEOUL, Aug. 13 (Yonhap) -- Cosmax Inc. on Thursday reported its second-quarter net profit of 13.8 billion won (US$ 11.6 million), up 134.9 percent from a year earlier.
The company said in a regulatory filing that operating income for the April-June period rose 99.2 percent on-year to 26.2 billion won. Sales increased 14.1 percent to 379.2 billion won.
The operating profit was 49.2 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
(END)


yna--2020-08-13--Another soldier tests positive for new coronavirus; total at 80

The private first class was confirmed to be infected with COVID-19 on Wednesday in a test required to exit the @ @ @ @ @ at the Gwangmyeong station , south of Seoul , last month , according to officials @

SEOUL, Aug. 13 (Yonhap) -- An Army soldier tested positive for the new coronavirus after working at a train station near Seoul to help with the government's anti-virus efforts, the defense ministry said Thursday.
The private first class was confirmed to be infected with COVID-19 on Wednesday in a test required to exit the two-week isolation following his service at the Gwangmyeong station, south of Seoul, last month, according to officials.
Other service members who worked with the infected soldier have all tested negative so far.
Authorities are working to determine the exact route of his infection.
The case brought the total caseload among the military population to 80.
About 500 service members, including 57 medical personnel, are currently mobilized for anti-virus efforts.
Separately, a draftee was sent to hospital Wednesday after testing positive at an Army training center in Nonsan, 210 kilometers south of the capital. No additional cases were reported at the center.
The total number of service members in isolation stands at 84, and the military authorities have put another 865 in quarantine as a preventive measure.
Nationwide, South Korea reported 56 new cases of the new virus Thursday, raising the total caseload to 14,770.
This file photo, taken on March 29, 2020, shows a train station in Gwangmyeong, south of Seoul. (Yonhap)
scaaet@yna.co.kr
(END)


yna--2020-08-13--Lotteria case raises alert over additional infections in greater Seoul area

`` We have tested 53 people who have so far been identified as having been in contact ( with the @ @ @ @ @ 22 testing negative and others undergoing screening , '' Park Yu-mi , who leads the @ @ @ @ @ health unit , said in a press conference on Thursday morning .

SEOUL, Aug. 13 (Yonhap) -- A new cluster infection traced to a meeting of managers at fast-food franchise Lotteria has sparked fresh concerns over the new coronavirus further spreading in Seoul and surrounding areas.
At least 11 employees who attended a meeting at a Lotteria franchise in the eastern Seoul ward of Gwangjin on Aug. 6 have tested positive for COVID-19 as of Wednesday evening. Eight of them were Seoul residents.
The meeting of 19 employees took place at the fast-food franchise's Gunja Station branch before participants had dinner at two restaurants in the area.
"We have tested 53 people who have so far been identified as having been in contact (with the infected patients), with 22 testing negative and others undergoing screening," Park Yu-mi, who leads the Seoul city government's public health unit, said in a press conference on Thursday morning.
Eight Lotteria branches, including those near Jonggak, Seoul Station and Lotte Department Store in central Seoul, have been affected by the latest infections, according to the city government.
The fact that the infection broke out among employees working at fast-food branches, where customers usually take off their masks and sit close together, has heightened concerns over additional infections among employees and visitors.
Park said health authorities have sent text messages to those who visited the affected venues to be tested when showing symptoms.
On Thursday, South Korea identified 56 new virus cases, including 47 local infections, according to the Korea Centers for Disease Control and Prevention (KCDC).
The figure, which excludes infections that were identified after midnight, marked the second straight day in which daily cases hovered above 50 following 54 cases on Wednesday.
A majority of the new locally transmitted cases was reported in the greater Seoul area, including 25 in Seoul and 16 in Gyeonggi Province, according to the KCDC.
Pedestrians stand in front of a Lotteria franchise in the eastern Seoul ward of Gwangjin, which was temporarily closed on Aug. 12, 2020, due to new coronavirus concerns. (Yonhap)
Notice signs show that a Lotteria franchise in the eastern Seoul ward of Gwangjin has been temporarily closed on Aug. 12, 2020, due to new coronavirus concerns. (Yonhap)
mlee@yna.co.kr
(END)


yna--2020-08-13--Gov't calls for doctors to pull back nationwide strike

`` The issue surrounding the medical policy should be discussed with the government .
Patients have nothing to do with @ @ @ @ @ , warning that the country will take legal actions if the strike threatens patients ' @ @ @ @

SEJONG, Aug. 13 (Yonhap) -- The government on Thursday urged doctors to cancel their nationwide strike slated for this week, warning that it will take stern actions if the walkout leads to any harm and disruptions to patients.
The Korea Medical Association (KMA), which represents 130,000 doctors, is set to stage a general strike Friday, voicing opposition to the government's plan to foster more physicians.
"We urge doctors to refrain from taking extreme measures by sacrificing the patients," Health Minister Park Neung-hoo said in a statement.
"The issue surrounding the medical policy should be discussed with the government. Patients have nothing to do with it," Park said, warning that the country will take legal actions if the strike threatens patients' health and safety.
South Korea currently plans to increase the number of doctors in the country, citing lack of medical infrastructure in rural areas, as well as the new coronavirus pandemic, which is not likely to end soon.
Trainee doctors affiliated with the Korean Intern Resident Association gather at a plaza in front of Daejeon Station, central South Korea, on Aug. 7, 2020, as medical residents went on strike nationwide earlier in the day to call for the government to scrap its plan to expand the number of students at medical schools. (Yonhap)
Under the country's medical workforce reform plan, the health ministry is planning to expand admission quotas at medical schools by 4,000 over the next 10 years starting 2022, and open a new public medical school as well.
The scheme will increase the number of students admitted annually to medical schools to 3,458 in the 2022-2031 period from the current 3,058.
The group says that increasing the number of new doctors will only lead to more competition among doctors and will not help ease the disparity in medical infrastructure among regions.
Doctors also protest against the plan to include traditional oriental medicine in the nation's public health insurance system, as they consider the field to be less scientific and vital.
On Wednesday, the health ministry said it is open to talks with the KMA, but it added it cannot further delay the scheme. Local doctors rejected the request, saying the protest will be held as planned.
Park said it is still not too late for the doctors to come to the negotiation table.
Doctors working at vital departments, including intensive care units, will continue to be on normal duty on Friday despite the strike. Last week, trainee doctors at hospitals also launched a one-day walkout.
colin@yna.co.kr
(END)


yna--2020-08-13--Samsung's advanced chip packaging solution ready for use

SEOUL , Aug. 13 ( Yonhap ) -- Samsung Electronics Co. said Thursday that its advanced chip packaging technology is @ @ @ @ @ the company succeeded in producing test chips with the solution that can improve speed and @ @ @ @ @ .

SEOUL, Aug. 13 (Yonhap) -- Samsung Electronics Co. said Thursday that its advanced chip packaging technology is now ready for use after the company succeeded in producing test chips with the solution that can improve speed and power efficiency of logic semiconductors.
Its silicon-proven 3D integrated circuit (IC) packaging technology, dubbed "eXtended-Cube" or simply "X-Cube," is now available for advanced process nodes including 7-nanometer, according to Samsung.
X-Cube allows ultra-thin stacking of multiple chips to make a logic semiconductor by leveraging through-silicon via (TSV) technology, a packaging solution using vertical electrical connection of chips instead of using wires.
"With Samsung's X-Cube, chip designers can enjoy greater flexibility to build custom solutions that best suit their unique requirements," the company said. "Enabled by 3D integration, the ultra-thin package design features significantly shorter signal paths between the dies for maximized data transfer speed and energy efficiency."
Samsung, currently the No. 2 player in the foundry industry, said it plans to continue working with global fabless customers to facilitate the use of its 3D IC solutions in next-generation high-performance applications including 5G and artificial intelligence.
This composite image provided by Samsung Electronics Co. shows chip design using 3D stacking architecture with its X-Cube technology (R) and regular chip design for logic semiconductors (L). (PHOTO NOT FOR SALE) (Yonhap)
kdon@yna.co.kr
(END)


yna--2020-08-13--SK Telecom delivers Galaxy Note 20 via drive-through event

No .
3 mobile carrier LG Uplus Corp. will introduce digital kiosks at its flagship store in southern Seoul next @ @ @ @ @ change their phone plans and buy USIM cards on their own .

SEOUL, Aug. 13 (Yonhap) -- South Korea's top mobile carrier SK Telecom Co. on Thursday delivered Samsung Electronics Co.'s new Galaxy Note 20 phones via a drive-through station, taking a cue from the country's drive-through coronavirus test centers, to reduce risks of infections.
Around 20 customers who pre-ordered the device arrived in taxis for the event at a parking lot in eastern Seoul, according to SK Telecom.
The mobile carrier said it prepared the event in line with social distancing measures amid the pandemic.
A customer receives Samsung Electronics Co.'s Galaxy Note 20 phone during SK Telecom Co.'s drive-through delivery event in eastern Seoul on Aug. 13, 2020. (Yonhap)
The phablet, which comes in two versions, will officially go on sale in the local market from Aug. 21.
SK Telecom said the larger-sized Galaxy Note 20 Ultra is currently the most popular variant, taking up 80 percent of the device's pre-orders.
Local telecom operators have strengthened "contactless" services as part of anti-infection measures.
KT Corp. partnered with a local food delivery business last month to strengthen delivery services for online purchases.
No. 3 mobile carrier LG Uplus Corp. will introduce digital kiosks at its flagship store in southern Seoul next month to allow customers to change their phone plans and buy USIM cards on their own.
yunhwanchae@yna.co.kr
(END)


yna--2020-08-13--S. Korean soccer player slapped with fine over self-quarantine violation

But he had not actually hurt the health and safety of the public since he tested negative for the virus @ @ @ @ @ explaining it considered that his acts were his first breach of the law and that @ @ @ @ @

SEOUL, Aug. 13 (Yonhap) -- A Seoul court on Thursday slapped a fine on a South Korean soccer player for violating government-ordered mandatory self-quarantine rules, imposed to contain the spread of the new coronavirus, after entering the country from overseas.
The Seoul Western District Court sentenced the soccer player to a fine of 7 million won (US$5,915) for breaching the law on prevention and control of infectious diseases.
The accused, a soccer player originally playing in the Austrian league only known by his surname Lee, returned to South Korea in March as his soccer league suspended games due to the pandemic and was ordered to self-quarantine at home for two weeks.
But he was found to have left his designated residence five times during the self-quarantine period. He tested negative for COVID-19, according to the court.
The prosecution had demanded a one-year jail term and a fine of 3 million won in June.
The court said the accused repeatedly violated the quarantine rules despite a high possibility of inflicting damage on society amid the coronavirus pandemic.
But he had not actually hurt the health and safety of the public since he tested negative for the virus, the court added, explaining it considered that his acts were his first breach of the law and that he regrets his wrongdoing.
Under the country's Infectious Disease Control and Prevention Act, all entrants from overseas are required to quarantine at their residences or government-designated facilities for 14 days considering the incubation period of the virus. Violators can be jailed for less than a year or fined up to 10 million won.
A graphic image of self-quarantine violation (PHOTO NOT FOR SALE) (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-08-13--The Korea Interbank Offered Rates (KORIBOR)

SEOUL , Aug. 13 ( Yonhap ) -- The Korea Interbank Offered Rates ( KORIBOR ) as posted by Yonhap @ @ @ @ @ and information arm of Yonhap News Agency , at 11:00 a.m .

(URGENT) N. Korea says Travis King decided to come over to N. Korea because he harbored ill feeling within the U.S. Army: KCNA


yna--2020-08-13--Foreign ministry neither confirms nor denies senior Chinese official's plan to visit Seoul

Observers said that Yang 's visit to Seoul , if realized , could be part of China 's move to @ @ @ @ @ closer to its side , as the U.S. is stepping up an offensive against China @ @ @ @ @ , the western province of Xinjiang and the South China Sea .

By Song Sang-ho
SEOUL, Aug. 13 (Yonhap) -- The foreign ministry neither confirmed nor denied a media report Thursday that a senior Chinese ruling party official plans to visit South Korea next week to cement relations between the two countries amid rising Sino-U.S. geopolitical tensions.
Yang Jiechi, a Politburo member of the Communist Party of China, could travel to Seoul as early as next week, though the date of his visit has yet to be finalized, a local daily, the Hankook Ilbo newspaper, reported, citing a source from South Korea's ruling bloc.
His visit, if realized, is expected to spur the two countries' talks on arranging a visit to Seoul by Chinese President Xi Jinping this year and reinforce bilateral cooperation on bringing North Korea back to dialogue.
"There is nothing to confirm," a foreign ministry official told Yonhap News Agency.
The Chinese Embassy in Seoul also declined to confirm the report.
China has recently been seen as striving to strengthen relations with South Korea, a key ally of the United States, amid increasingly acrimonious competition between Washington and Beijing on multiple fronts, including trade, technology and security.
Last week, China eased coronavirus restrictions on the entry of South Korean students and workers. The move came after China allowed expedited entries for Korean businesspeople under a "fast-track" program in late April.
Observers said that Yang's visit to Seoul, if realized, could be part of China's move to encourage South Korea to tilt closer to its side, as the U.S. is stepping up an offensive against China's policies on Hong Kong, the western province of Xinjiang and the South China Sea.
Yang's trip here could also present an opportunity for Seoul to enlist Beijing's stronger support for its push to improve inter-Korean relations and move forward the stalled negotiations on Pyongyang's denuclearization.
Yang last visited Seoul in 2018.
This photo, taken on March 30, 2018, shows Foreign Minister Kang Kyung-wha (R) shaking hands with Yang Jiechi, a Politburo member of the Communist Party of China, before their talks at the foreign ministry in Seoul. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-08-13--S. Korea to supply 360,000 homes in Seoul by 2028

`` The government will continue to announce follow-up supply plans as part of its broad plan to supply a total @ @ @ @ @ Seoul and the neighboring areas as early as by 2028 .
Additional home supply plans @ @ @ @ @ near Seoul will be announced sooner or later , '' he said .

SEOUL, Aug. 13 (Yonhap) -- South Korea will gradually provide a total of 360,000 housing units in Seoul by 2028 as part of its broad home supply plan to stabilize the real estate market, the transport ministry said Thursday.
The government plans to supply the homes mainly to underprivileged people in the capital city by developing state-owned properties and promoting redevelopment and reconstruction projects, the Ministry of Land, Infrastructure and Transport said in a statement.
Under the supply plan, the government will provide 120,000 public homes by developing properties held by the state-run Korea Land & Housing Corp. and the Seoul Housing & Communities Corp. and 200,000 homes through redevelopment of areas with smaller residences and reconstruction of existing apartment complexes, a ministry official said over the phone.
This photo, taken July 15, 2020, shows high-rise apartment buildings in the southeastern Seoul ward of Songpa as seen from an observatory at Lotte World Tower, also in Songpa. Songpa is regarded as one of the four southern Seoul wards where housing prices are higher compared with other areas of the capital. (Yonhap)
"The government will continue to announce follow-up supply plans as part of its broad plan to supply a total of 1.27 million homes in Seoul and the neighboring areas as early as by 2028. Additional home supply plans in Incheon and Gyeonggi Province near Seoul will be announced sooner or later," he said.
On Aug. 4, the government announced it will supply 132,000 homes, including 110,000 homes in Seoul, in the capital city and the neighboring areas by 2028 by easing restrictions on construction of residential buildings.
The eased rules allow redevelopment projects of aging apartment complexes to increase their floor area ratio (FAR) to between 300 and 500 percent to build more units from the current 250 percent.
FAR is the ratio of the total plot area to the overall building area and is determined by the size of the plot and width of the road in front of the plot.
The rules also allow such redevelopment projects to build 50-story apartment buildings in the greater Seoul area, far higher than the existing 35-story height restriction.
The government has adopted the presale price cap for newly built apartments and the system to retrieve excessive gains from the reconstruction of aged apartments, which were not welcomed by existing apartment complexes.
Prices of apartments in Seoul jumped 55 percent to 26.78 million won (US$22,400) per 3.3 square meters as of July from 17.31 million won in May 2017, when the current government took office, according to the Korea Appraisal Board.
The soaring home prices in the greater Seoul area have been a headache for policymakers, as President Moon Jae-in's approval ratings have nose-dived amid public uproar.
In July, the government announced its toughest measures yet to rein in rising housing prices, as a series of steps, including tax hikes and loan regulations, failed to put the brakes on soaring home prices.
Under the proposed tax measures, the government will raise property ownership tax rates for multiple-home owners.
More recently, the ruling Democratic Party, alarmed by spiking home prices and growing public outcry, rammed through bills to allow tenants to extend their two-year jeonse contracts for another two years and place a cap of 5 percent on increases in jeonse deposits when the contracts are renewed.
Jeonse is a localized property lease system in which tenants pay a large deposit instead of monthly rent. It usually consists of a two-year contract, with the homeowner paying back the principal upon the completion of the contract.
Experts warned the passage of the tenant protection laws will push up the jeonse home prices in the long term and landlords will increasingly switch jeonse contracts to monthly rental deals without a lump-sum deposit.
kyongae.choi@yna.co.kr
(END)


yna--2020-08-13--Summer blockbusters drive 70 pct growth in S. Korean admissions in July

Meanwhile , 5.62 million people went to theaters in July , compared to 21.9 million tallied in the same month @ @ @ @ @ South Korean film industry has been struggling with the fallout of the COVID-19 pandemic .

SEOUL, Aug. 13 (Yonhap) -- Homegrown summer blockbusters like the zombie apocalypse film "Peninsula" helped South Korean movies see their combined admissions jump nearly 70 percent in July from a month earlier, data showed Thursday.
The number of moviegoers who watched South Korean films reached 4.69 million last month, up 68.4 percent from 2.78 million the previous month, according to the monthly data by the Korean Film Council (KOFIC).
Revenues of South Korean-made films also surged 65.1 percent on-month to 40 billion won (US$33.8 million).
From a year earlier, moreover, the total admissions and revenues of Korean flicks jumped 40.5 percent and 57.5 percent on-year, respectively.
The July performance was led by the release of summer tent poles including "Peninsula," which attracted 3.22 million viewers in July alone after it hit screens on July 15.
Another zombie thriller, "#Alive," released on June 24, posted 700,000 admissions in July, while the action adventure "Steel Rain 2: Summit," which premiered on July 29, sold 520,000 tickets in just three days.
On the other hand, no new foreign blockbusters were released in July to rival them.
Meanwhile, 5.62 million people went to theaters in July, compared to 21.9 million tallied in the same month in 2019, as the South Korean film industry has been struggling with the fallout of the COVID-19 pandemic.
But the monthly figure has been on a steady rise after hitting rock bottom in April with an all-time low of 970,000.
Posters of "Peninsula" hang in a movie theater in Seoul on July 19, 2020. (Yonhap)
brk@yna.co.kr
(END)


yna--2020-08-13--Facilities at N.K. nuclear complex may be damaged by flood: U.S. think tank

`` Although the 5 MWe reactor does not appear to have been operating for quite some time , and the @ @ @ @ @ ELWR ) has yet to come online , both would need consistent water flow to @ @ @ @ @ .

SEOUL, Aug. 13 (Yonhap) -- Significant flooding has happened along a river near North Korean's Yongbyon nuclear complex, and facilities at the complex could have been damaged, a U.S. monitoring website said Thursday.
The website 38 North, a think tank monitoring North Korea, made the analysis based on satellite imagery from Aug. 6, saying that "water had reached the two pump houses that service the reactors" at Yongbyon nuclear complex.
"The August 6 imagery, when compared to imagery from July 22, shows a dramatic rise in the water level of the Kuryong River that flows alongside the Yongbyon complex," the think tank said. It said the flooding appears to the worst in recent years.
The think tank also revealed an image of a fully submerged dam on the Kuryong River and pointed out that the flood could potentially damage the pumps or clog piping systems that draw water from the river, causing the reactor to shutdown.
The complex is home to a 5-megawatt nuclear reactor that was the source of weapons-grade plutonium for the North. Pyongyang can harvest one nuclear bomb worth of plutonium by reprocessing spent fuel rods from the reactor.
"Although the 5 MWe reactor does not appear to have been operating for quite some time, and the Experimental Light Water Reactor (ELWR) has yet to come online, both would need consistent water flow to operate," it said.
"Therefore, if or when either of the reactors is operating, clogged intakes and/or broken or damaged pumps would necessitate a shutdown," it said.
Satellite imagery from Aug. 8 and 11, however, shows that the waters have receded, suggesting there was no damage to key facilities, such as the Uranium Enrichment Plant (UEP), the think tank added.
The North has been hit hard by unprecedented heavy rainfall this month, causing flood and damage across the country.
julesyi@yna.co.kr
(END)


yna--2020-08-13--FCA Korea names new chief following ex-head's alleged sexual misconduct

To boost sales in Korea , the company plans to add the Gladiator to its lineup in the third quarter @ @ @ @ @ composed of the flagship Grand Cherokee , the Wrangler , the Cherokee , the Compass @ @ @ @

SEOUL, Aug. 13 (Yonhap) -- Fiat Chrysler Automobiles N.V. (FCA) Korea said Thursday it has named a marketing expert as managing director and president following his predecessor's alleged sexual misconduct.
Jake Aumann, 45, has served as chief of FCA's Chinese operations in the past two years and will begin his new position on Monday, the company said in a statement.
This photo provided by FCA Korea shows new Managing Director and President Jake Aumann (PHOTO NOT FOR SALE) (Yonhap)
His predecessor Pablo Rosso has left the company over alleged sexual misconduct. He had served as president of FCA Korea since 2013.
An online public petition calling for a probe into Rosso's alleged sexual misbehavior was filed with the presidential office Cheong Wa Dae on July 22.
Last month, FCA said it began an investigation into the matter. But on Thursday it didn't clarify whether the probe is under way.
In 2019, FCA sold 10,251 Jeep SUV models in South Korea, jumping 35 percent from 7,590 units a year earlier. It was the first time the Italian and American multinational carmaker sold more than 10,000 vehicles in one year since it entered the Korean market in 1992.
To boost sales in Korea, the company plans to add the Gladiator to its lineup in the third quarter. The current lineup is composed of the flagship Grand Cherokee, the Wrangler, the Cherokee, the Compass and the Renegade.
FCA Korea stopped selling non-SUV passenger vehicles in January 2018 as part of its reorganization of portfolios.
FCA is controlled by Exor N.V., an Italian holding company based in the Netherlands.
kyongae.choi@yna.co.kr
(END)


yna--2020-08-13--SuperM to make live performance debut of new song on U.S. television

SuperM is formed of seven members from SM 's boy groups SHINee , EXO , NCT 127 and WayV .
@ @ @ @ @ in October of last year , with `` SuperM : The 1st Mini Album '' @ @ @ @ @ chart and the band becoming the second K-pop group to do so after BTS .

SEOUL, Aug. 13 (Yonhap) -- K-pop band SuperM will present the live performance debut of its upcoming song "100" on U.S. television network ABC, the group's agency said Thursday.
The seven-piece boy band's live performance of "100" will be aired on ABC's "Good Morning America" on Aug. 20 (local time), according to SM Entertainment. The track will be released Friday.
The performance will be streamed remotely from Seoul and will be followed by an interview segment. Other K-pop acts, including BTS, NCT 127 and BLACKPINK, have made appearances on the popular morning program in the United States.
SuperM is formed of seven members from SM's boy groups SHINee, EXO, NCT 127 and WayV. It made a powerful debut in October of last year, with "SuperM: The 1st Mini Album" topping the Billboard 200 albums chart and the band becoming the second K-pop group to do so after BTS.
Following "100," SuperM plans to release a follow-up single, "Tiger Inside," the second pre-release track from "Super One," on Sept. 1.
A publicity file photo of K-pop group SuperM, provided by SM Entertainment. (PHOTO NOT FOR SALE) (Yonhap)
odissy@yna.co.kr
(END)


yna--2020-08-13--S. Korea to foster service sector as new growth engine

The country will also expand the free trade agreement ( FTA ) network to pave the way for local exporters @ @ @ @ @ emerging markets from Southeast and Central Asia , it added .
South Korea is currently @ @ @ @ @ in the service and investment sectors with China and Russia

By Kang Yoon-seung
SEJONG, Aug. 13 (Yonhap) -- South Korea said Thursday it will revamp the country's export portfolio and foster its service industry as a new growth engine to revitalize its virus-hit outbound shipments.
The country's service exports reached US$43.8 billion over the January-June period, down 17.9 percent from a year earlier. The Ministry of Trade, Industry and Energy, however, said soaring demand for contactless services around the globe has provided a new opportunity for local firms.
In July, South Korea's exports extended their slump to a fifth consecutive month by falling 7 percent on-year amid the fallout of the new coronavirus.
Under the vision, the country aims to become the world's No. 10 exporter of services in 2025, up six notches from last year, by fostering related firms while lifting unnecessary business regulations.
"South Korea has been maintaining its product-oriented export structure despite making various efforts to penetrate deeper into the service segment. The latest measure is aimed at reflecting changes in global demand due to the COVID-19 pandemic," Industry Minister Sung Yun-mo said.
South Korea will especially set its eyes on six key areas with high growth potential, namely cultural content, health care, education technology, digital service, fintech and engineering.
In detail, South Korea will supply 4.6 trillion won (US$3.88 billion) through 2023 to foster services that can be exported, and another 1 trillion won through 2024 for businesses developing cultural content that can be sold overseas.
South Korea aims to become a global leader in the so-called contactless industries involving health care, education and logistics services and to study deeper into big data and artificial intelligence technologies to speed up the development of such areas.
The country will also expand the free trade agreement (FTA) network to pave the way for local exporters to set their eyes on emerging markets from Southeast and Central Asia, it added. South Korea is currently holding talks on bolstering cooperation in the service and investment sectors with China and Russia
colin@yna.co.kr
(END)


yna--2020-08-13--Oldest remaining prototype of Korean national flag to go on display

Already on display in the hall is another Taegeukgi flag from the era , which was previously owned by American @ @ @ @ @ , as well as a copy of the French daily `` Le Petit Journal '' @ @ @ @ @ the Korean Empire during the 1900 Paris Exposition .

SEOUL, Aug. 13 (Yonhap) -- The oldest remaining prototype of the Taegeukgi, South Korea's national flag, will be put on exhibition this week in celebration of the country's Liberation Day, organizers said Thursday.
The National Museum of Korea will display the "Denny" version of the Taegeukgi at its Korean Empire Hall from Friday to Aug. 23 to mark the 75th anniversary of Korean independence from the 1910-45 Japanese colonial rule, which falls on Saturday.
The flag was presented by Joseon King Gojong (1863-1907) to Owen Denny, an American consul who served as his diplomatic adviser, upon his return to the United States in 1890.
Following Denny's death in 1900, the flag had been kept by his family before one of his descendants donated it to South Korea in 1981. It was registered as a cultural heritage in 2008.
The hand-sewn cotton flag, measuring 2.6 meters in width and 1.8 m in height, is one of the prototypes of today's Taegeukgi design. It was first conceived by Gojong, who was on the throne until three years before Japan colonized Korea in 1910.
Already on display in the hall is another Taegeukgi flag from the era, which was previously owned by American Christian missionary William Arthur Noble, as well as a copy of the French daily "Le Petit Journal" that covered the booth of the Korean Empire during the 1900 Paris Exposition.
This photo, provided by the National Museum of Korea on Aug. 13, 2010, shows the country's oldest Taegeukgi, South Korea's national flag. The flag is called the "Denny Taegeukgi" as King Gojong (1863-1907) of the Joseon Dynasty presented it to U.S. consul Owen Denny, who had served as his foreign affairs adviser, when he returned home in 1890. (PHOTO NOT FOR SALE) (Yonhap)
odissy@yna.co.kr
(END)


yna--2020-08-13--Main opposition takes first lead over ruling party in 4 yrs in Realmeter opinion poll

Realmeter 's survey in the third week of October 2016 showed the UFP 's predecessor Liberty Korea Party ( LKP @ @ @ @ @ approval and the DP 29.2 percent .
The DP 's rating rose to 31.2 percent @ @ @ @ @ the LKP by 6.5 percentage points .
The ruling party had since maintained the lead @ @ @ @ @ the UFP .

SEOUL, Aug. 13 (Yonhap) -- The main opposition party has surpassed the ruling party for the first time in nearly four years in Realmeter's weekly approval poll, the agency said Thursday, citing public anger over the Moon Jae-in administration's failure to curb housing price hikes.
The favorability of the United Future Party (UFP) rose 1.9 percentage point to 36.5 percent in the three-day survey of 1,507 voters nationwide through Wednesday, while support for the DP dropped 1.7 percentage point to 33.4 percent. The margin of error is plus and minus 2.5 percentage points.
It marks the first time that a conservative party's rating has outstripped that of the liberal DP since the start of monthslong massive candlelight vigils in late 2016 against then President Park Geun-hye, which led to her impeachment.
This file photo shows lawmakers attending a National Assembly session in Seoul. (Yonhap)
Realmeter's survey in the third week of October 2016 showed the UFP's predecessor Liberty Korea Party (LKP) garnering 29.6 percent in approval and the DP 29.2 percent. The DP's rating rose to 31.2 percent the following week, overtaking the LKP by 6.5 percentage points. The ruling party had since maintained the lead before it was overtaken by the UFP.
Realmeter said the ruling bloc has been losing support from not just swing voters but also from its core base, many in their 30s and 40s.
The DP's approval in Gwangju and the southwestern provincial region of Jeolla, the party's traditional stronghold, plunged 11.5 percentage points to 47.8 percent, it added.
"Public opinion against the real estate policy has worsened," a Realmeter official said, pointing out the UFP's successful efforts to reach out to swing voters.
Moon's job approval rating fell 0.6 percentage point to 43.3 percent.
lcd@yna.co.kr
(END)


yna--2020-08-13--Korea Shipbuilding bags 440 bln-won order for 2 LNG ships

Under the deal with Korea Line Corp. , the two LNG carriers to be built by Hyundai Heavy Industries Co. @ @ @ @ @ Shipbuilding , will be delivered to the shipper by late 2023 , Korea Shipbuilding said @ @ @ @ @

By Nam Kwang-sik
SEOUL, Aug. 13 (Yonhap) -- South Korean shipbuilding holding company Korea Shipbuilding & Offshore Engineering Co. said it has signed a 440 billion-won (US$372 million) deal to build two liquefied natural gas (LNG) carriers.
Under the deal with Korea Line Corp., the two LNG carriers to be built by Hyundai Heavy Industries Co., a subsidiary of Korea Shipbuilding, will be delivered to the shipper by late 2023, Korea Shipbuilding said in an emailed statement.
This photo provided by Korea Shipbuilding & Offshore Engineering Co. shows a LNG carrier built by Hyundai Heavy Industries Co. (PHOTO NOT FOR SALE) (Yonhap)
The LNG carriers will be used to carry LNG to be produced by global energy group Shell, the holding company said.
Despite decreasing new shipbuilding orders amid the coronavirus pandemic, Korea Shipbuilding has won a combined $14.2 billion in orders for six LNG carriers, six petrochemical carriers and one passenger ship in the second half of the year, the company said.
ksnam@yna.co.kr
(END)


yna--2020-08-13--SK Bioscience to manufacture Novavax's coronavirus vaccine candidate

`` SK 's accumulated vaccine R & D and production capability have been spotlighted by the world 's most advanced @ @ @ @ @ well as the global initiatives for the COVID-19 vaccine manufacturing , '' Ahn Jae-yong , @ @ @ @ @ said in a press release .

SEOUL, Aug. 13 (Yonhap) -- SK Bioscience Co., a vaccine unit of South Korea's SK Group, said Thursday that it has secured a deal to manufacture a component of the U.S.-based biotechnology company Novavax Inc.'s experimental coronavirus vaccine.
Under the agreement, SK Bioscience will manufacture the antigen component of NVX-CoV2373, Novavax's COVID-19 vaccine candidate, for supply to the global market.
This photo, provided by SK Bioscience Co., a vaccine unit of South Korea's SK Group on Aug. 13, 2020, shows its CEO, Ahn Jae-yong (R), with Health Minister Park Neung-hoo. (PHOTO NOT FOR SALE) (Yonhap)
"SK's accumulated vaccine R&D and production capability have been spotlighted by the world's most advanced global pharmaceutical companies, as well as the global initiatives for the COVID-19 vaccine manufacturing," Ahn Jae-yong, CEO of SK bioscience, said in a press release.
NVX-CoV2373 was developed using Novavax's recombinant nanoparticle technology to generate a stable antigen derived from the coronavirus spike protein.
SK Bioscience will begin production of the NVX-CoV2373 antigen at its vaccine facility in the country beginning later this month.
The companies also agreed to cooperate with South Korea's Ministry of Health and Welfare to make the vaccine available in the country.
khj@yna.co.kr
(END)


yna--2020-08-13--Court rejects Shincheonji leader's request to cancel arrest

Lee , 89 , is suspected of submitting false documents to health authorities on the number of participants at the @ @ @ @ @ locations of the gatherings in February when the sect was at the center of the @ @ @ @ @ phase of the COVID-19 outbreak in the country .

SUWON, South Korea, Aug. 13 (Yonhap) -- A district court on Thursday dismissed the request by the leader of a minor religious sect at the center of the early coronavirus outbreak in South Korea to cancel his pre-trial detention.
Lee Man-hee, the leader of the Shincheonji Church of Jesus, was arrested on Aug. 1 on charges of obstructing the government's efforts to contain the spread of the novel coronavirus pandemic.
Lee requested the Suwon District Court to review the legality of his detention Wednesday. The judge ruled that there is no reason to revoke his arrest warrant.
This file photo taken March 2, 2020, shows Lee Man-hee, the founder of the Shincheonji Church, holding a press conference in Gapyeong, east of Seoul. (Yonhap)
Lee, 89, is suspected of submitting false documents to health authorities on the number of participants at the sect's gatherings and the locations of the gatherings in February when the sect was at the center of the virus spread in the early phase of the COVID-19 outbreak in the country.
He is also accused of embezzling 5.6 billion won (US$4.68 million) from church funds and holding unauthorized religious events from 2015-19.
Some 4,000 followers, most of whom were from its branch in the southeastern city of Daegu, were infected with the COVID-19 virus.
The country reported an additional 56 confirmed cases on Thursday, including 47 local infections, raising the total caseload to 14,770, according to the Korea Centers for Disease Control and Prevention.
khj@yna.co.kr
(END)


yna--2020-08-13--(2nd LD) Gov't calls for doctors to pull back nationwide strike

`` We are not only increasing the number of doctors , but also plan to deploy them in areas and @ @ @ @ @ We will improve the quality of their education as well , '' Park said .

(ATTN: UPDATES figures in 3rd to last para)
SEJONG, Aug. 13 (Yonhap) -- The government on Thursday urged doctors to cancel their nationwide strike slated for this week, warning that it will take stern actions if the walkout leads to any harm and disruptions to patients.
The Korea Medical Association (KMA), which represents 130,000 doctors, is set to stage a general strike Friday, voicing opposition to the government's plan to foster more physicians.
"We urge doctors to refrain from taking extreme measures by sacrificing the patients," Health Minister Park Neung-hoo said in a statement.
"The issue surrounding the medical policy should be discussed with the government. Patients have nothing to do with it," Park said, warning that the country will take legal actions if the strike threatens patients' health and safety.
South Korea currently plans to increase the number of doctors in the country, citing lack of medical infrastructure in rural areas, as well as the new coronavirus pandemic, which is not likely to end soon.
Trainee doctors affiliated with the Korean Intern Resident Association gather at a plaza in front of Daejeon Station, central South Korea, on Aug. 7, 2020, as medical residents went on strike nationwide earlier in the day to call for the government to scrap its plan to expand the number of students at medical schools. (Yonhap)
Under the country's medical workforce reform plan, the health ministry is planning to expand admission quotas at medical schools by 4,000 over the next 10 years starting 2022, and open a new public medical school as well.
The scheme will increase the number of students admitted annually to medical schools to 3,458 in the 2022-2031 period from the current 3,058.
The group says that increasing the number of new doctors will only lead to more competition among doctors and will not help ease the disparity in medical infrastructure among regions.
"We are not only increasing the number of doctors, but also plan to deploy them in areas and fields they are needed. We will improve the quality of their education as well," Park said.
Doctors also protest against the plan to include traditional oriental medicine in the nation's public health insurance system, as they consider the field to be less scientific and vital.
Health Minister Park Neung-hoo speaks during a press meeting held in Sejong, 120 kilometers south of Seoul, on Aug. 13, 2020. (Yonhap)
On Wednesday, the health ministry said it is open to talks with the KMA, but it added it cannot further delay the scheme. Local doctors rejected the request, saying the protest will be held as planned.
Park said it is still not too late for the doctors to come to the negotiation table.
Doctors working at vital departments, including intensive care units, will continue to be on normal duty on Friday despite the strike. Last week, trainee doctors at hospitals also launched a one-day walkout.
As of Thursday, 8,365, or 24.7 percent of 33,836 clinics across the nation, reported they will close their doors on Friday, according to the health ministry.
"It will take some time to estimate how many hospitals will join the strike, as some of them may also be closing for the vacation season," a ministry official said.
South Korea's medical law stipulates that the minister, or related regional governors, can issue an order for hospitals to open if "a serious hazard occurs or is likely to occur to public health."
colin@yna.co.kr
(END)


yna--2020-08-13--N.K. economy struggling as trade with China sharply drops in H1 amid coronavirus: think tank

The fall in imports of intermediary goods is likely to lead to a decline in domestic production and consumption , @ @ @ @ @ that the North 's economy could continue to suffer hardship even after the coronavirus crisis @ @ @

SEOUL, Aug. 13 (Yonhap) -- North Korea's trade with China dropped significantly in the first half of this year amid the coronavirus pandemic, in a development that could hinder the already struggling economy, a state-run think tank said Thursday.
The Korea Institute for National Unification said in a report that the North's imports from China in the January-June period amounted to US$27 million, a 67 percent decrease from the same period last year.
Exports to China also fell by 75 percent to $380 million, according to the report.
"North Korea's economic situation is worsening this year as trade with China has dropped sharply and the economic activities of the people were restricted due to the impact of COVID-19," the report said.
Imports of intermediary goods in the January-May period dropped to US$156.7 million, which accounts for merely 10.2 percent of last year's annual imports of intermediary goods from the neighboring country, the report said.
The fall in imports of intermediary goods is likely to lead to a decline in domestic production and consumption, the report said, warning that the North's economy could continue to suffer hardship even after the coronavirus crisis is over.
Pyongyang has struggled to prevent an outbreak of coronavirus in the North for over six months in an economy already faltering under international sanctions.
julesyi@yna.co.kr
(END)


yna--2020-08-13--OTT-TV crossover project series 'SF8' to hit small screen this week

`` It was very fresh and strange for us to take into account TV audiences and smartphone users , not @ @ @ @ @ in a theater , '' he said .
`` So we have to change our @ @ @ @ @ scenes in a different way , given smaller screens . ''

By Kim Boram
SEOUL, Aug. 13 (Yonhap) -- "SF8," a science-fiction crossover project series made by major South Korean TV broadcaster MBC, local video streaming platform Wavve and established film directors, will provide a new window to multi-platform and -genre stories in the near future, its producers said Thursday.
Eight film directors from the Directors Guild of Korea participated in the yearslong movie-drama collaboration to produce eight different sci-fi episodes about the world in the near future where human relationships are changed by technological advancements, like artificial intelligence.
The eight 50-minute-or-so episodes are "Prayer" by Min Kyu-dong, "Blink" by Han Ka-ram, "Joan's Galaxy" by Lee Yoon-jung, "Manxin" by No Duk, "White Crow" by "Jang Chul-soo, "Love Virtually" by Oh Ki-hwan, "Baby It's Over Outside" by Ahn Kook-jin and "Empty Body" by Kim Ui-suk.
Following the first release on Wavve in July, MBC will air the programs one by one every Friday starting this week.
Directors of the film-drama crossover project "SF8" pose for a photo in Seoul on Aug. 13, 2020, in this photo provided by MBC. (PHOTO NOT FOR SALE) (Yonhap)
"When we first designed this project, we intended to make pieces that are free from special techniques and the process required for a commercial film," director Min Kyu-dong, who leads the tripartite crossover project, said in a press conference in Seoul.
"It was very fresh and strange for us to take into account TV audiences and smartphone users, not those who spend two hours in a theater," he said. "So we have to change our mindset and direct and shoot scenes in a different way, given smaller screens."
He said TV viewers will initially find the film-like sci-fi dramas unfamiliar in terms of the length and the genre but will be curious about the storytelling and rendering that are rarely seen in TV shows.
"It's like we prepared a foreign cuisine for our guest," said Min, who directed "All About My Wife" (2012) and "Herstory" (2018). "Years later, I think this project will be remembered as a turning point in Korean media history."
Director Oh Ki-hwan, who directed the romantic comedy "The Art of Seduction" (2005), said the crossover project reflects the borderless media world, in which people can choose their favorite platforms or devices whenever and wherever they want.
His rom-com episode "Love Virtually," slated for Sept. 18, revolves around a couple who interacts and communicates with each other through a virtual reality application.
"These days, long-running film directors join hands with TV stations or Netflix, or vice versa. There has been no clear division among platforms," he said. "Now, films, TV series or short-form dramas are released through various platforms and channels."
Director Jang Chul-soo, who made the action comedy "Secretly Greatly" (2013), said he is scared of receiving real-time responses from TV viewers after his horror "White Crow" is shown on Sept. 11.
"As a film director, I've never been bothered by viewership ratings day by day," he said, laughing. "It's interesting that many unspecified people will watch my show."
brk@yna.co.kr
(END)


yna--2020-08-13--S. Korea, U.S. hold videoconference on energy security

At the annual session , the two sides agreed to strengthen energy cooperation related to Southeast Asia , a region @ @ @ @ @ to build stronger ties due to its growth potential , rich resources and geopolitical significance @

SEOUL, Aug. 13 (Yonhap) -- Officials from South Korea and the United States held a videoconference Thursday to discuss bilateral cooperation on energy security, the foreign ministry said.
Chung Kee-yong, director general of the ministry's climate change, energy, environment and scientific affairs bureau, held the seventh energy security dialogue with two U.S. deputy assistant secretaries of state -- Kurt Donnelly and Marc Knapper.
At the annual session, the two sides agreed to strengthen energy cooperation related to Southeast Asia, a region with which they have tried to build stronger ties due to its growth potential, rich resources and geopolitical significance.
The officials also agreed to cooperate on ensuring the stable supply of energy resources and security in the online management of power grids.
"Both sides stressed that energy cooperation between South Korea and the U.S. plays a crucial role in strengthening the bilateral friendship and alliance," the ministry said in a press release.
Chung used the session to explain Korea's efforts for a structural shift to a low-carbon society based on its policy initiatives such as the Green New Deal project aimed at countering climate change through greenhouse gas emission cuts and other endeavors.
Ahead of the session, the two sides held a roundtable discussion with civilian experts to discuss hydrogen industries, trends in the liquefied natural gas market and other related issues.
The energy security dialogue was launched in 2013 in line with a bilateral summit agreement to expand energy cooperation.
South Korean and U.S. experts pose for a photo at a roundtable session on energy security in Seoul on Aug. 12, 2020, in this photo provided by the foreign ministry. (PHOTO NOT FOR SALE) (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-08-13--Appellate court upholds conviction of ex-Samsung Securities employees in 'ghost' stock case

The eight claimed they did n't violate any laws in the trade of the wrongly paid stocks but the appellate @ @ @ @ @ illicit from the common sense perspective .
The court pointed out that the defendants were @ @ @ @ @ steep fall in Samsung Securities stock price and a loss of 9.5 billion won to @ @ @ @ @ its investors .

SEOUL, Aug. 13 (Yonhap) -- An appellate court on Thursday upheld a lower court's conviction of eight former employees of Samsung Securities Co. indicted for selling "ghost" stocks mistakenly paid to them as dividends in 2018.
The Seoul Southern District Court's appellate division affirmed suspended prison sentences ranging from one to 1 1/2 years for four of the eight defendants and fines of between 10 million won (US$8,442) and 20 million won for the four others.
In case of the four sentenced to suspended prison terms, the court also fined them 10 million to 20 million won, saying their monetary penalties were missing from the lower court's ruling.
The so-called ghost stock trading scandal occurred in April 2018, when an employee of Samsung Securities mistakenly typed in 1,000 shares instead of 1,000 won per share for the payment of dividends to over 2,000 company employees under a company compensation plan.
As a result, the company issued some 2.8 billion ghost shares, causing its stock value to plunge by 11.7 percent from the previous day.
The eight employees, who were fired by the company before being indicted, were accused of causing huge damage to company and its investors by unlawfully unloading the erroneously issued stocks.
The lower court said the accused, as financial workers responsible for managing assets of others, betrayed professional ethics and morality by committing naked short selling.
The eight claimed they didn't violate any laws in the trade of the wrongly paid stocks but the appellate court said their behavior is illicit from the common sense perspective. The court pointed out that the defendants were also blamed for causing a steep fall in Samsung Securities stock price and a loss of 9.5 billion won to the company in compensation to its investors.
A graphic image of Samsung Securities Co.'s logo and the court (PHOTO NOT FOR SALE) (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-08-13--Hyundai launches Avante N Line compact

Hyundai launches Avante N Line compact

The Avante N Line comes with a 1.6-liter gasoline turbocharged engine that doles out 204 horsepower .
It is available @ @ @ @ @ transmission or a seven-speed double-clutch transmission , the company said in a statement .

SEOUL, Aug. 13 (Yonhap) -- Hyundai Motor Co. on Thursday launched the Avante N Line compact model in the domestic market as it strives to boost sales amid the new coronavirus pandemic.
The Avante N Line comes with a 1.6-liter gasoline turbocharged engine that doles out 204 horsepower. It is available either with a six-speed manual transmission or a seven-speed double-clutch transmission, the company said in a statement.
This photo, provided by Hyundai Motor, shows the Avante N Line compact. (PHOTO NOT FOR SALE)(Yonhap)
The Avante N Line is being sold at the starting price of 22 million won (US$18,600).
The all-new model is distinguished by low and wide styling. It comes with Hyundai's signature cascading grille, motorsport-inspired air intake and 18-inch alloy wheels with larger brakes, it said.
The Avante compact is sold as the Elantra in overseas markets.
The N Line brand sits between Hyundai Motor's high-performance N brand and the general Hyundai brand. The N models bring full performance capability to daily driving while N Line brings performance-inspired elements to base model vehicles, it said.
Hyundai already offers the Veloster N, i30 N and i30 Fastback N, as well as several N Line models, such as the i30 N Line, in select markets.
Hyundai said it will add the Sonata N Line with a 2.5 gasoline turbocharged engine to the N Line lineup within this year.
kyongae.choi@yna.co.kr
(END)


yna--2020-08-13--Starbucks Q2 net jumps 52 pct despite pandemic

`` Many consumers turned to non-contact services , such as the 'siren ' and drive-through orders , due to the @ @ @ @ @ the opening of new outlets led to an increase in sales , '' a company @ @ @ @ @ message .

SEOUL, Aug. 13 (Yonhap) -- Starbucks Korea on Thursday reported a 52 percent on-year jump in second-quarter net profit on increased non-contact orders and the opening of new outlets.
Net profit for the second quarter jumped to 46.2 billion won (US$39 million) from 30.3 billion won a year ago, according to second-quarter earnings results released by E-Mart Inc., South Korea's biggest discount store chain operator.
Starbucks Korea is a 50:50 joint venture set up by E-Mart and Seattle-based coffee giant Starbucks.
"Many consumers turned to non-contact services, such as the 'siren' and drive-through orders, due to the new coronavirus outbreak. And the opening of new outlets led to an increase in sales," a company spokesman said in a text message.
Consumers can order a drink online and pick up their orders offline without waiting in line through the U.S. coffee franchise's mobile-based ordering application called siren.
Operating profit also soared 54 percent to 61.7 billion won in the second quarter from 40 billion won a year ago. Sales rose 5.4 percent to 482.6 billion won from 458 billion won during the same period.
Given Starbucks already earned sales of 937.1 billion won in Korea in the first half, it appears to be on track to achieve 2 trillion won in sales for the whole of 2020.
Starbucks, which entered Korea in 1999, currently operates 1,438 stores here, up from 1,378 at the end of 2019.
Starbucks Korea earned 1.87 trillion won in sales last year, up 25 percent from 1.5 trillion won a year earlier.
kyongae.choi@yna.co.kr
(END)


yna--2020-08-13--Indonesia agrees to exempt S. Korean businesspeople from entry restrictions

South Korea has won such entry restriction exception systems from China , the United Arab Emirates ( UAE ) and @ @ @ @ @ to launch a similar entry system , in an effort to meet growing demand from @ @ @ @ @ disrupted by the entry curbs since the pandemic .

SEOUL, Aug. 13 (Yonhap) -- Indonesia has agreed to create a special entry system for South Korean business travelers in exception to its entry restrictions imposed over coronavirus concerns, the foreign ministry said Thursday.
The measure, to take effect Aug. 17, will exempt South Korean businesspeople from the mandatory two-week isolation when they enter the Southeast Asian country, on condition that they submit negative virus test results, the ministry said in a release.
The two sides reached the agreement when Foreign Minister Kang Kyung-wha spoke by phone with her Indonesian counterpart, Retno Marsudi, on Wednesday.
South Korea has won such entry restriction exception systems from China, the United Arab Emirates (UAE) and is in talks with Japan to launch a similar entry system, in an effort to meet growing demand from businesses to resume overseas work disrupted by the entry curbs since the pandemic.
The special entry system with Indonesia is expected to contribute to the bilateral economic relationship and help accelerate the resumption of companies' overseas business activities, the ministry said.
Indonesia has implemented a blanket entry ban for all foreigners since early April to prevent the spread of COVID-19, with few exceptions, like diplomats and people with long-term residency visas. Seoul has toughened visa requirements but does not ban foreign arrivals.
People stand in a line to check in for a special flight bound for Guangzhou, China, at Incheon International Airport, west of Seoul, on July 23, 2020, after Beijing agreed to allow the entry of South Korean businesspeople into its territory in exception to entry restrictions imposed over coronavirus concerns. (Yonhap)
elly@yna.co.kr
(END)


Yonhap News Summary

`` You can say that the ( latest round of ) personnel affairs over those with the senior secretarial grade @ @ @ @ @ , '' the official told reporters on the condition of anonymity .

The following is the second summary of major stories moved by Yonhap News Agency on Thursday.
----------------
(LEAD) Greater Seoul area at risk of spike in virus cases, local infections at over 1-month high
(ATTN: CHANGES headline, first 2 paras; ADDS more info in paras 6-9, 13-15, last 4 paras, 2nd photo)
SEOUL -- South Korea's health authorities warned Thursday that the greater Seoul area is teetering on the brink of another spike in virus cases, and eased social distancing may be rolled back if the upward trend continues.
The country's new daily coronavirus cases stayed above 50 for the second consecutive day Thursday as domestic infections, mostly traced to sporadic clusters in Seoul and adjacent areas, jumped to an over one-month high.
----------------
No more replacements of top Cheong Wa Dae aides, official says
SEOUL -- President Moon Jae-in has no plans for additional replacements of his top Cheong Wa Dae aides in connection with the collective offers of resignation last week by his chief of staff and five senior secretaries, a key presidential official said Thursday.
"You can say that the (latest round of) personnel affairs over those with the senior secretarial grade and higher has been completed," the official told reporters on the condition of anonymity.
----------------
(LEAD) Moon declares 11 more flood-hit areas as special disaster zones
(ATTN: UPDATES with details)
SEOUL -- President Moon Jae-in designated 11 southern areas, devastated by monsoon-season heavy rains, as special disaster zones Thursday for speedy state assistance for recovery work and the provision of relief funds, Cheong Wa Dae said.
The regions include Namwon in North Jeolla Province; Naju, Gurye, Gokseong, Damyang, Hwasun, Hampyeong, Younggwang and Jangseong in South Jeolla Province; Hadong and Hapcheon in South Gyeongsang Province.
----------------
(2nd LD) Big Hit posts estimated sales of 294 bln won in H1, announces concert in Oct.
(ATTN: UPDATES with more details in paras 4-5, 14-15; ADDS photo)
SEOUL -- Big Hit Entertainment, the label-management agency of K-pop giant BTS, announced Thursday that its estimated sales revenue during the first half of 2020 reached 294 billion won (US$244.8 million) on the back of strong album sales and paid online concert revenues.
In a biannual corporate briefing held on YouTube, the company added that its estimated operating profit during the January-June period reached 49.7 billion won. Big Hit said the numbers were subject to an audit before confirmation.
----------------
(LEAD) Seoul stocks continue gains for 9th consecutive session on economic rebound hopes
(ATTN: RECAST headline; ADDS bond yields at bottom, photo)
SEOUL -- South Korean shares closed a tad higher Thursday, extending gains to a ninth session on institutional and individual buying. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.18 points, or 0.21 percent, to close at 2,437.53.
----------------
S. Korea's COVID-19 vaccine candidates may start clinical tests this year: KCDC
SEOUL -- South Korea's health authorities said Thursday that clinical trials on three locally developed vaccine candidate materials for novel coronavirus treatment are expected to start within this year.
One subunit vaccine substance and two DNA-based vaccine materials from local pharmaceutical firms are subject to clinical tests on humans this year, according to the Korea Centers for Disease Control and Prevention (KCDC).
----------------
8 more USFK-affiliated Americans test positive for COVID-19
SEOUL -- Seven more American service members and a Department of Defense civilian contractor tested positive for the new coronavirus upon their arrivals in South Korea, the U.S. Forces Korea (USFK) said Thursday.
Of them, three service members arrived at Osan Air Base in Pyeongtaek, south of Seoul, on a U.S. government chartered flight while the others arrived at Incheon International Airport, west of the capital, on commercial flights, it said.
----------------
(LEAD) Facilities at N.K. nuclear complex may be damaged by flood: U.S. think tank
(ATTN: ADDS image, defense ministry's reaction in paras 5-6)
SEOUL -- Significant flooding has happened along a river near North Korean's Yongbyon nuclear complex, and facilities at the complex could have been damaged, a U.S. monitoring website said Thursday.
The website 38 North, a think tank monitoring North Korea, made the analysis based on satellite imagery from Aug. 6, saying that "water had reached the two pump houses that service the reactors" at Yongbyon nuclear complex.
(END)


yna--2020-08-13--(LEAD) FCA Korea names new chief following ex-head's alleged sexual misconduct

To boost sales in Korea , the company plans to add the Gladiator to its lineup in the third quarter @ @ @ @ @ composed of the flagship Grand Cherokee , the Wrangler , the Cherokee , the Compass @ @ @ @

(ATTN: CLARIFIES new manager's former position in 2nd para)
SEOUL, Aug. 13 (Yonhap) -- Fiat Chrysler Automobiles N.V. (FCA) Korea said Thursday it has named a marketing expert as managing director and president following his predecessor's alleged sexual misconduct.
Jake Aumann, 45, served as head of the Alfa Romeo brand at FCA's Chinese operation over the past two years and will begin his new position on Monday, the company said in a statement.
This photo provided by FCA Korea shows new Managing Director and President Jake Aumann (PHOTO NOT FOR SALE) (Yonhap)
His predecessor Pablo Rosso has left the company over alleged sexual misconduct. He had served as president of FCA Korea since 2013.
An online public petition calling for a probe into Rosso's alleged sexual misbehavior was filed with the presidential office Cheong Wa Dae on July 22.
Last month, FCA said it began an investigation into the matter. But on Thursday it didn't clarify whether the probe is under way.
In 2019, FCA sold 10,251 Jeep SUV models in South Korea, jumping 35 percent from 7,590 units a year earlier. It was the first time the Italian and American multinational carmaker sold more than 10,000 vehicles in one year since it entered the Korean market in 1992.
To boost sales in Korea, the company plans to add the Gladiator to its lineup in the third quarter. The current lineup is composed of the flagship Grand Cherokee, the Wrangler, the Cherokee, the Compass and the Renegade.
FCA Korea stopped selling non-SUV passenger vehicles in January 2018 as part of its reorganization of portfolios.
FCA is controlled by Exor N.V., an Italian holding company based in the Netherlands.
kyongae.choi@yna.co.kr
(END)


yna--2020-08-13--Telcos racing to offer 5G-based entertainment services amid pandemic

As of June , the country had 7.4 million 5G users , accounting for just over 10 percent of the @ @ @ @ @ total , according to government data .
The 4G LTE network racked up 11.7 million @ @ @ @ @ of time since it was first offered in July 2011 .

By Chae Yun-hwan
SEOUL, Aug. 13 (Yonhap) -- South Korean telecom operators are launching new online entertainment services from cloud gaming to augmented reality (AR), industry insiders said Thursday, opening new fronts for 5G user growth amid the COVID-19 pandemic.
As the coronavirus outbreak limits outdoor activities, online content consumption has boomed.
Telecom operators are banking on data-intensive online entertainment services to accelerate subscriber migration to the high-speed 5G network.
Earlier this week, telecom giant KT Corp. launched cloud gaming service GameBox, which can stream around 100 PC and console games, including popular sports title NBA 2K20, on smartphones.
KT Corp. Senior Vice President Yi Seong-hwan speaks during a launch event for the company's game streaming service at the company's headquarters building in central Seoul on Aug. 12, 2020. (Yonhap)
The company is pushing the service on 5G phones, considering its ultra-low latency and speed currently four times faster than 4G LTE.
"While GameBox works on 4G LTE, playing high-resolution games without lag is only possible on 5G," said Kwon Ki-jae, KT vice president, during the service's launch event.
Leading mobile carrier SK Telecom Co. will launch a competing service next month in partnership with Microsoft Corp.
The telecom operator is also offering its video-streaming service Wavve for free to its premium 5G plan subscribers.
Wavve, jointly operated with the country's three major broadcasters KBS, MBC and SBS, has recently strengthened content, adding 2,400 titles to its existing collection of 3,500 films. It has also promised to spend 60 billion won (US$50.7 million) on original productions this year.
No. 3 mobile carrier LG Uplus Corp. has partnered with Chinese mixed-reality startup Nreal to release 5G-based AR glasses that feature the company's AR content.
It will also open its 5G-based cloud gaming service in partnership with Nvidia Corp. to subscribers of other mobile carriers later this month.
Models test LG Uplus Corp.'s augmented reality glasses at the company's headquarters building in central Seoul on Aug. 11, 2020. (Yonhap)
The online entertainment push by telecom operators comes as the number of 5G subscribers fell short of expectations this year, after the network's launch in April last year.
As of June, the country had 7.4 million 5G users, accounting for just over 10 percent of the country's mobile accounts in total, according to government data. The 4G LTE network racked up 11.7 million users over the same amount of time since it was first offered in July 2011.
Users have long complained of poor 5G connectivity, as shown by a government report earlier this month that said 5G accessibility was at less than 70 percent in public locations installed with the network equipment.
Analysts still expect 5G users to pick up later this year, considering the pandemic-driven media demand and new phone releases.
"Media content demand from the contactless trend is expected to improve profitability," Song Jae-kyung, an analyst at Heungkuk Securities Co., said. "With new 5G phone launches in the third quarter, such as the Galaxy Note 20 and the iPhone 12, 5G subscriptions will grow faster than before."
yunhwanchae@yna.co.kr
(END)


yna--2020-08-13--S. Korean Bond Yields on Aug. 13, 2020

S. Korean Bond Yields on Aug. 13, 2020

(URGENT) N. Korea says Travis King decided to come over to N. Korea because he harbored ill feeling within the U.S. Army: KCNA


yna--2020-08-13--(LEAD) Seoul stocks continue gains for 9th consecutive session on economic rebound hopes

The index came to a strong start but erased most of the gains on strong foreign sell-off .
Foreigners dumped @ @ @ @ @ on profit-taking , the largest amount since July 7 .

(ATTN: RECAST headline; ADDS bond yields at bottom, photo)
SEOUL, Aug. 13 (Yonhap) -- South Korean shares closed a tad higher Thursday, extending gains to a ninth session on institutional and individual buying. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.18 points, or 0.21 percent, to close at 2,437.53.
Trading volume was high at about 892 million shares worth some 18 trillion won (US$15.2 billion), with gainers outnumbering losers 481 to 359.
The index came to a strong start but erased most of the gains on strong foreign sell-off. Foreigners dumped a net 352 billion won on profit-taking, the largest amount since July 7.
Retail investors purchased a net 157 billion won, and institutions bought a net 186 billion won.
Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,437.53 on Aug. 13, 2020, up 5.18 points or 0.21 percent from the previous session's close. (Yonhap)
Analysts said the KOSPI continued to rally in the past nine straight sessions as retail buying offset foreign selling
"The money move generated by individual investors has become a significant force in the financial markets," Hana Financial Investment analyst Kim Yong-koo said.
Rising hopes for new coronavirus vaccines also boosted investor sentiment.
Clinical trials on three locally developed vaccine candidate materials for COVID-19 are expected to start within this year, South Korean health authorities said.
Most large caps closed lower.
Market bellwether Samsung Electronics lost 0.51 percent to 58,700 won, while No. 2 chipmaker SK hynix retreated 0.37 percent to 80,700 won.
Leading chemical maker LG Chem shed 0.54 percent to 737,000 won.
Top automaker Hyundai Motor dipped 1.16 percent to 170,000 won, and its smaller affiliate Kia Motors dropped 0.77 percent to 44,900 won.
Among gainers, giant drugmaker Celltrion spiked 2.15 percent to 308,500 won, as the company began selling COVID-19 diagnostic kits in the United States.
Top game publisher NCSOFT surged 5.53 percent to 897,000 won on estimate-beating quarterly earnings.
Internet portal giant Naver climbed 0.66 percent to 307,000 won, and its rival Kakao added 1.84 percent to 360,500 won.
The local currency closed at 1,183.30 won against the U.S. dollar, up 2.0 won from the previous session's close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 1.2 basis points to 0.815 percent, and the return on the benchmark five-year government bond slipped 1.2 basis points to 1.075 percent.
jwc@yna.co.kr
(END)


yna--2020-08-13--200 Samsung Display workers reassigned to Samsung Electronics' chip unit

`` It is difficult to tell exactly how many workers moved to Samsung Electronics , but those who applied for @ @ @ @ @ company , '' a Samsung Display official said .

SEOUL, Aug. 13 (Yonhap) -- About 200 employees at Samsung Display Co. have been reassigned to Samsung Electronics Co.'s semiconductor unit, industry insiders said Thursday, following the display maker's decision to discontinue its LCD TV panel business.
"It is difficult to tell exactly how many workers moved to Samsung Electronics, but those who applied for the transfer has left the company," a Samsung Display official said.
The employees have been reportedly transferred to Samsung Electronics' device solutions division that manages the chip business.
Earlier this year, Samsung Display said it will halt its production of LCD TV panels next year to make transition quickly to its next-generation quantum-dot display business.
Due to its LCD business shutdown, Samsung Display has been moving workers to other Samsung affiliates. Some of them recently completed their move to Samsung Biologics Co. and Samsung SDI Co.
This image provided by Samsung Display Co. shows the company's plant in Asan, South Chungcheong Province. (PHOTO NOT FOR SALE) (Yonhap)
kdon@yna.co.kr
(END)


yna--2020-08-13--(LEAD) Korea Electric Power shifts to Q2 profit on low fuel

For the three months that ended on June 30 , KEPCO swung to a net profit of 202.85 billion won @ @ @ @ @ 412.18 billion won in the same period of last year , the company said in @ @ @

(ATTN: UPDATES throughout with details; ADDS photo)
SEOUL, Aug. 13 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's state-run utility, said Thursday it shifted to a net profit in the second quarter from a year earlier on decreased fuel costs.
For the three months that ended on June 30, KEPCO swung to a net profit of 202.85 billion won from a net loss of 412.18 billion won in the same period of last year, the company said in a statement.
"Lower oil prices drove down liquefied natural gas and coal prices in the second quarter. As a result, the company's purchasing costs of LNG and coal decreased, giving a boost to the bottom line," a company spokesman said over the phone.
KEPCO also shifted to an operating profit of 389.81 billion won in the second quarter from an operating loss of 298.66 billion won a year ago. Sales remained unchanged at 13.07 trillion won during the same period.
From January to June, KEPCO swung to a net profit of 256.46 billion won from a net loss of 1.17 trillion won in the year-ago period.
The turnaround was helped by decreased fuel costs. Fuel purchasing prices fell to 15.8 trillion won in the first half of 2020 from 18.7 trillion won a year earlier.
The state utility also shifted to an operating profit of 820.36 billion won in the first half from an operating loss of 928.54 billion won a year ago. Sales fell 0.5 percent to 28.17 trillion won from 28.32 trillion won.
(END)


yna--2020-08-13--Seoul stocks continue gains for 9th consecutive session amid increased liquidity

SEOUL, Aug. 13 (Yonhap) -- South Korean shares closed a tad higher Thursday, extending gains to a ninth session on institutional and individual buying. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.18 points, or 0.21 percent, to close at 2,437.53.
Trading volume was high at about 892 million shares worth some 18 trillion won (US$15.2 billion), with gainers outnumbering losers 481 to 359.
The index came to a strong start but erased most of the gains on strong foreign sell-off. Foreigners dumped a net 352 billion won on profit-taking, the largest amount since July 7.
Retail investors purchased a net 157 billion won, and institutions bought a net 186 billion won.
Analysts said the KOSPI continued to rally in the past nine straight sessions as retail buying offset foreign selling
"The money move generated by individual investors has become a significant force in the financial markets," Hana Financial Investment analyst Kim Yong-koo said.
Rising hopes for new coronavirus vaccines also boosted investor sentiment.
Clinical trials on three locally developed vaccine candidate materials for COVID-19 are expected to start within this year, South Korean health authorities said.
Most large caps closed lower.
Market bellwether Samsung Electronics lost 0.51 percent to 58,700 won, while No. 2 chipmaker SK hynix retreated 0.37 percent to 80,700 won.
Leading chemical maker LG Chem shed 0.54 percent to 737,000 won.
Top automaker Hyundai Motor dipped 1.16 percent to 170,000 won, and its smaller affiliate Kia Motors dropped 0.77 percent to 44,900 won.
Among gainers, giant drugmaker Celltrion spiked 2.15 percent to 308,500 won, as the company began selling COVID-19 diagnostic kits in the United States.
Top game publisher NCSOFT surged 5.53 percent to 897,000 won on estimate-beating quarterly earnings.
Internet portal giant Naver climbed 0.66 percent to 307,000 won, and its rival Kakao added 1.84 percent to 360,500 won.
The local currency closed at 1,183.30 won against the U.S. dollar, up 2.0 won from the previous session's close.
jwc@yna.co.kr
(END)


yna--2020-08-13--(2nd LD) Big Hit posts estimated sales of 294 bln won in H1, announces concert in Oct.

The company also cited `` Bang Bang Con : The Live , '' the online BTS concert held in June @ @ @ @ @ innovation created within the Big Hit ecosystem .
The paid online concert was organized for @ @ @ @ @ with fans at home and overseas after the band was forced to cancel its previously @ @ @ @

(ATTN: UPDATES with more details in paras 4-5, 14-15; ADDS photo)
By Chang Dong-woo
SEOUL, Aug. 13 (Yonhap) -- Big Hit Entertainment, the label-management agency of K-pop giant BTS, announced Thursday that its estimated sales revenue during the first half of 2020 reached 294 billion won (US$244.8 million) on the back of strong album sales and paid online concert revenues.
In a biannual corporate briefing held on YouTube, the company added that its estimated operating profit during the January-June period reached 49.7 billion won. Big Hit said the numbers were subject to an audit before confirmation.
Despite the cancellation of BTS' world tour and other activities due to COVID-19, Big Hit said it managed to achieve strong sales from outstanding digital and physical albums sales as well as the mega successful paid online concert by BTS held in June.
Big Hit explained that the results appeared to be roughly on a similar level as the figures from last year, when the company reported record sales of 200.1 billion and an operating profit of 39.1 billion for the first six months of 2019.
A company representative, however, said that whether the latest numbers represented an overall improvement from a year ago was difficult to say, as this year's estimates were produced using the K-IFRS accounting standard. Last year's numbers were produced based on the older K-GAAP standard.
This photo provided by Big Hit Entertainment on Aug. 13, 2020, shows Bang Si-hyuk, chairman and CEO of Big Hit Entertainment, speaking at an online corporate briefing streamed on YouTube. The company behind K-pop giant BTS announced that its sales revenue estimate for the first half of 2020 reached 294 billion won. (PHOTO NOT FOR SALE) (Yonhap)
The corporate briefing came about a week after Big Hit was approved by the Korea Exchange, South Korea's bourse operator, in a preliminary review to be listed on the country's benchmark KOSPI stock index.
"Amidst the difficulties we've faced, Big Hit put a greater emphasis on what we consider to be the bare essentials. Contents and fans," Bang said, crediting what he described as the "Big Hit ecosystem" as the driving force behind the company's stellar performance.
Thanks to Big Hit's past acquisitions of K-pop agencies Pledis Entertainment and Source Music, of the top 100 albums on the Korea Music Content Association-operated Gaon chart, about 40 percent of all albums sold during the period in terms of volume were part of "Big Hit Labels." These acts include idol groups BTS, Seventeen, NU'EST, GFriend and TXT.
In particular, the combined sales of the albums "Map of the Soul: 7" by BTS and "Heng:garae" by Seventeen accounted for 53 percent of the top 10 sales. The two albums, both released during the first half, shipped 4.26 million and 1.2 million copies, respectively.
Bang also mentioned that Belift Lab, a joint venture between Big Hit and CJ E&M, and Source Music are both busy preparing to debut a new boy band and girl group, respectively.
The boy group under Belift Lab will be formed by the final survivors from the idol audition television show "I-Land," currently airing on music cable network Mnet. Big Hit's chief brand officer, Min Hee-jin, a former SM Entertainment veteran, is helming the creation of Source Music's new girl group scheduled to debut next year.
The company also cited "Bang Bang Con: The Live," the online BTS concert held in June, as an example of innovation created within the Big Hit ecosystem. The paid online concert was organized for the K-pop septet to connect with fans at home and overseas after the band was forced to cancel its previously announced world tour.
The concert set a Guinness World record for "most viewers for a music concert livestream" attracting 756,000 viewers in 107 countries and regions across the world.
A promotional image for "BTS Map Of The Soul ON:E," a concert by K-pop act BTS scheduled for Oct 10-11 at Jamsil Olympic Stadium in Seoul, which will be virtually streamed live. Photo provided by Big Hit Entertainment. (PHOTO NOT FOR SALE) (Yonhap)
Big Hit also announced that BTS will hold a concert titled "BTS Map Of The Soul ON:E" on Oct. 10-11 at Jamsil Olympic Stadium in Seoul that will also be virtually streamed live.
"Only part of the seats will be open in accordance with government-mandated concert seat distancing measures for COVID-19 prevention," the company said in a statement. BTS also plans to release a new album in the fourth quarter, the company added.
The company also explained that it has shown strong growth in non-music businesses such as brand licensing and merchandise.
Lenzo Yoon, Big Hit's global business CEO, said that the portion of Big Hit's earnings from "artist indirect participation," or non-music related content, reached 45.4 percent as of 2019, with the rate nearly doubling from 22.3 percent in 2017.
Big Hit also previewed new content to be introduced in the future: the remote Korean learning program "Learn! KOREAN with BTS," produced in partnership with the Korea Foundation and the Hankuk University of Foreign Studies, and a new mobile rhythm game and separate BTS-themed game that is currently under development with software company Netmarble.
This photo provided by Big Hit Entertainment on Aug. 13, 2020, shows Bang Si-hyuk, chairman and CEO of Big Hit Entertainment, speaking at an online corporate briefing streamed on YouTube. The company behind K-pop giant BTS announced that its sales revenue estimate for the first half of 2020 reached 294 billion won. (PHOTO NOT FOR SALE) (Yonhap)
odissy@yna.co.kr
(END)


yna--2020-08-13--(LEAD) Moon declares 11 more flood-hit areas as special disaster zones

Special disaster areas get state support that can cover up to 80 percent of the expenditures needed for damage recovery @ @ @ @ @ areas receive state aid for living costs and reductions in utility bills , health insurance @ @ @ @ @ , as well as exemptions from reserve forces training and other military duties .

(ATTN: UPDATES with details)
SEOUL, Aug. 13 (Yonhap) -- President Moon Jae-in designated 11 southern areas, devastated by monsoon-season heavy rains, as special disaster zones Thursday for speedy state assistance for recovery work and the provision of relief funds, Cheong Wa Dae said.
The regions include Namwon in North Jeolla Province; Naju, Gurye, Gokseong, Damyang, Hwasun, Hampyeong, Younggwang and Jangseong in South Jeolla Province; Hadong and Hapcheon in South Gyeongsang Province.
The previous day, Moon visited Gurye and Hadong counties to inspect damages caused by days of torrential rains and subsequent river or stream flooding.
The recent downpours that pounded the central and southern regions have left 42 people dead or missing and more than 7,800 people displaced as of Wednesday.
Special disaster areas get state support that can cover up to 80 percent of the expenditures needed for damage recovery. Flood victims in the areas receive state aid for living costs and reductions in utility bills, health insurance premiums and other public charges, as well as exemptions from reserve forces training and other military duties.
Shortly after local government authorities' request for the administrative measure, the Ministry of the Interior and Safety carried out an "emergency assessment" of damages in those areas to confirm whether they meet relevant criteria, according to deputy presidential spokesman Yoon Jae-kwan.
He said the government will continue to respond swiftly to such a demand involving people in urgent need.
Last week, the government declared seven hard-hit central and eastern areas as special disaster zones after assessing the scale of the damage and the urgency of state aid.
President Moon Jae-in (L, front) inspects a town damaged by heavy rains in Gurye, South Jeolla Province, on Aug. 12, 2020. (Yonhap)
lcd@yna.co.kr
(END)


yna--2020-08-14--(LEAD) Local virus cases at over 4-month high, strict social distancing under review

Of the 18 new imported cases , nine cases came from the United States , followed by Iraq with two @ @ @ @ @ .
The total number of cases coming in from overseas reached 2,618 .

(ATTN: UPDATES with more info throughout; CHANGES photos)
SEOUL, Aug. 14 (Yonhap) -- The number of daily local virus cases in South Korea jumped to an over 4-month high on Friday as sporadic clusters in the greater Seoul area piled up, forcing health authorities to consider raising the level of social distancing to stem further spread.
The country's new daily coronavirus cases, including 85 locally transmitted ones, reached 103, raising the total caseload to 14,873, according to the Korea Centers for Disease Control and Prevention (KCDC).
The number of newly identified local infections marks the most since 88 on March 31.
The daily tally nearly doubled from 56 new virus cases reported Thursday and also marked the highest level since July 25, when new virus cases reached 113.
Domestic infections have recently bounced back as cases mostly linked to sporadic clusters in Seoul and adjacent areas jumped.
A citizen takes a coronavirus test at a makeshift screening center set up in front of Seoul's Dongdaemun Market on Aug. 14, 2020. (Yonhap)
"We are facing a grave situation as cases tied to churches, door-to-door retailers, marketplaces and schools continued to increase in the greater Seoul areas," Vice Health Minister Kim Ganglip said in a briefing.
"It is very concerning that infections at facilities used by many people have been reported simultaneously," he added.
The KCDC warned that the greater Seoul area is teetering on the brink of another spike in virus cases and that the easing of social distancing guidance may be rolled back if the upward trend continues.
Earlier in the day, Prime Minister Chung Sye-kyun said the government is considering strengthening the infection preventive measures in Seoul and neighboring areas by one notch to Level 2.
In June, South Korea adopted a three-tier social distancing scheme, under which the country is currently at Level 1 distancing measures. Level 2 could be applied if daily infections exceed 50 for 14 straight days but remain under 100.
Of the new locally transmitted cases, 31 were reported in Seoul and 38 in the surrounding Gyeonggi Province, the KCDC said. The southeastern city of Busan added five more cases of COVID-19.
Sporadic cluster infections have shown no signs of a let-up, with more than 30 cases linked to a church in Goyang, just north of Seoul.
Infections traced to a church in Yongin, south of Seoul, jumped to 24, up 12 cases from overnight, according to city government officials.
The Seoul metropolitan government ordered the shutdown of a church in northern Seoul after at least 13 cases were traced to the church. Health authorities said 1,897 people are subject to virus tests.
Cases tied to Lotteria, a fast-food franchise, in Seoul reached 11 as of Thursday at noon.
A quarantine official disinfects areas near the Dongwha shopping center in central Seoul on Aug. 14, 2020. (Yonhap)
Meanwhile, the daily number of cases coming in from overseas bounced back to a double-digit figure.
The number of daily imported cases recently far surpassed that of local infections mainly because infections spiked among South Korean workers returning home from Iraq and Russian sailors.
Of the 18 new imported cases, nine cases came from the United States, followed by Iraq with two cases and Ghana with two. The total number of cases coming in from overseas reached 2,618.
Starting Monday, foreign coronavirus patients who violate infectious disease measures should cover all costs of treatment and their self-quarantine, the government said.
Foreign patients who arrive from overseas after Aug. 24 will also be required to pay for part or all of the bills for COVID-19 treatment, depending on their nationality.
South Korea has treated locals and foreigners for COVID-19 free of charge, but the country has recently revised related law, as cases coming in from overseas have steadily risen, putting a burden on the local health care system.
South Korea, meanwhile, reported no additional deaths, keeping the death toll to 305. The fatality rate was 2.05 percent.
The total number of people released from quarantine after full recoveries stood at 13,863, up 46 from the previous day.
The country has carried out 1,665,084 tests since Jan. 3.
This photo, taken on Aug. 13, 2020, shows a signboard set up by the Seoul city government that expresses its determination to overcome the COVID-19 pandemic with citizens. (Yonhap)
sooyeon@yna.co.kr
(END)


yna--2020-08-14--(LEAD) Moon names Cheong Wa Dae secretary as vice foreign minister

Choi has served as secretary for peace planning at Cheong Wa Dae 's national security office .
He is known @ @ @ @ @ players in Moon 's drive for permanent peace on the Korean Peninsula .

(ATTN: UPDATES with Cheong Wa Dae's briefing in paras 3-5)
SEOUL, Aug. 14 (Yonhap) -- President Moon Jae-in tapped Choi Jong-kun, a key Cheong Wa Dae aide, as new vice foreign minister Friday, according to Moon's office.
Choi has served as secretary for peace planning at Cheong Wa Dae's national security office. He is known as one of the major players in Moon's drive for permanent peace on the Korean Peninsula.
Choi, a former Yonsei University professor of political science and international studies, has expertise in the diplomatic and security field, Cheong Wa Dae spokesman Kang Min-seok said.
Choi is an official with experience related to diplomacy on the United States and denuclearization of North Korea, Kang added.
"He's expected to smoothly carry out the policy task of (realizing) 'dignified diplomacy leading international cooperation,'" the spokesman said.
Moon also nominated Lee Kang-seop, vice head of the Ministry of Government Legislation, to lead the ministry in a vice ministerial post.
The president also picked seven new vice ministerial officials.
This file photo shows Choi Jong-kun, named as vice foreign minister. (Yonhap)
lcd@yna.co.kr
(END)