yna--2020-03-30--(2nd LD) Unruly entrants from abroad hinder social distancing

In one of the most controversial cases , a South Korean student who recently returned from the U.S. stirred up @ @ @ @ @ disclosed that she had traveled to Jeju Island for five days despite respiratory symptoms and @ @ @ @ @ 's self-quarantine recommendation before testing positive for the coronavirus in Seoul .

(ATTN: UPDATES with a case of Polish man in paras 11-14)
SEOUL, March 30 (Yonhap) -- People ignoring self-quarantine rules after arriving here from abroad are hampering South Korea's drive to contain imported infections of the new coronavirus.
Those flying in from Europe and the United States are now required to self-isolate for 14 days, with the Seoul government planning to make the two-week quarantine mandatory for all entrants from overseas starting April 1.
But many of the new entrants put under mandatory or recommended self-isolation have been caught going outside in violation of the rules, raising fears of community transmission of COVID-19. They have gone out to meet people, shop, eat, visit entertainment venues and even travel to other cities.
The nation's total coronavirus infections rose by 78 to 9,661 on Monday, with imported cases accounting for 29. On Sunday, imported infections made up 41 of the 146 daily new cases. The cumulative total of imported cases has risen to 441.
A British man in his 30s in Suwon, south of Seoul, drew flak after it was disclosed that he had visited three other cities without wearing masks for five days and come into contact with 23 people before testing positive for the coronavirus last Tuesday.
The man was reportedly asked to self-isolate for two weeks after having a cough on arriving at Incheon International Airport, west of Seoul, from Thailand on March 20.
He had samples taken for coronavirus testing at a health center in Suwon last Monday. In violation of the quarantine rules, he visited an indoor sports facility after his coronavirus test, in addition to his earlier visits to public places in Seoul and nearby cities, Suwon officials said.
As details on the British man's movement were made public, many citizens wrote angry comments on the website of the Suwon City Hall, calling for strong punishment.
"The British man moved around in his neighborhood without wearing a mask, despite symptoms, a coronavirus test and self-isolation recommendations. Such an act should not be forgiven," a citizen wrote.
Suwon Mayor Yeom Tae-young has vowed to hold the British man responsible, while the Ministry of Justice has launched an investigation into the case to examine if he violated the Infectious Disease Control and Prevention Act. Depending on the outcome of the probe, the British national may face deportation or a claim for damages, government officials said.
In another case, Seoul's Yongsan district office filed a complaint on Monday against a Polish man who allegedly broke the self-quarantine rule.
The 42-year-old resident was ordered to self-isolate from March 13-26 after one of his friends, also from Poland, was confirmed to be infected on March 12.
Investigation found that during the two weeks, he had visited a convenience store and walked around at a park near his home, according to the district office.
He was asymptomatic during the quarantine period but tested positive on March 26 and was hospitalized.
Meanwhile, South Korean students have been returning home in large numbers from Europe and the U.S. to avoid the rapid spread of COVID-19 in the regions, and some of them have posed a challenge to the nation's social distancing campaign.
In one of the most controversial cases, a South Korean student who recently returned from the U.S. stirred up the public after it was disclosed that she had traveled to Jeju Island for five days despite respiratory symptoms and in disregard of the government's self-quarantine recommendation before testing positive for the coronavirus in Seoul.
The student, a 19-year-old attending a university in Boston and living in Gangnam Ward, southern Seoul, returned to Korea on March 15. Instead of remaining at home in isolation as recommended by the authorities, she traveled to Jeju with her mother from March 20-24. Both of them were confirmed to have the coronavirus in Seoul on March 25.
The student allegedly had chills, muscular pain and a sore throat on the first day of her trip to Jeju. She visited a hospital due to such symptoms on March 23 but went ahead with her travel plans as scheduled.
Subsequently, 28 businesses visited by the duo, including a hotel, a supermarket, a rental-car agent and restaurants, were temporarily shut down, and 70 people believed to have come into contact with them were ordered to self-isolate.
Angered by the incident, Jeju Gov. Won Hee-ryong has said his government will seek to file a criminal complaint against the two and a civil lawsuit to demand more than 100 million won (US$81,500) in damage incurred by the private businesses and residents.
On Monday, the Jeju provincial government, two private businesses and two Jeju residents now under self-isolation filed a joint civil suit with the Jeju District Court, demanding the two Seoul citizens pay 132 million won in compensation.
"The student and her mother traveled in Jeju despite recognizing symptoms from the first day of their trip," Won said in a media briefing, expecting the number of plaintiffs to grow.
"Any shameless behaviors that disturb medical staff's hard work, quarantine officials' efforts and the national campaign for social distancing should be terminated. Through this lawsuit, we want to sound a strong alarm bell," the governor said.
Won also vowed to launch criminal proceedings against the Seoul citizens, if they have made false statements about their travel routes or any community transmission occurs on the island due to them.
According to the authorities, there have been many other cases of students deviating from the self-quarantine rules.
A Korean student, who returned home on March 19 from Britain, was found to have visited two restaurants in Pyeongchang, east of Seoul in Gangwon Province, before testing positive for COVID-19 on Thursday. The student reportedly visited Pyeongchang to isolate himself at a condo there.
A 19-year-old student, who returned to her home in Seoul's Gangnam Ward on March 17 after her university in New York state was closed, had visited many public places in her neighborhood, including a cafe, convenience store, park, comic book store, pharmacy and restaurant, before her infection was confirmed on Wednesday.
"Students studying abroad seem to have a strong individualistic tendency. The entire nation is now practicing social distancing to curb the coronavirus outbreak, but the students returning from abroad appear to take the situation too lightly. We're angered by their individualism," a Gangnam resident said.
The Central Disaster and Safety Countermeasures Headquarters said last week that any foreigner leaving his or her self-isolation venue without permission will be expelled from the country. Violators of the quarantine rules could be fined up to 10 million won or imprisoned for up to a year under the Infectious Disease Control and Prevention Act, in addition to forfeiting a leave subsidy totaling 1.23 million won in the case of a four-member household.
The Seoul metropolitan government and other local governments have threatened to take strong legal action against self-quarantine violators.
ycm@yna.co.kr
(END)


yna--2020-03-30--(2nd LD) N. Korea slams Pompeo over remarks on increased pressure

`` Hearing Pompeo 's reckless remarks , we dropped the interest in dialogue with further conviction , but have become @ @ @ @ @ planned projects aimed to repay the U.S. with actual horror and unrest for the sufferings @ @ @ @ @ people , '' the official claimed .

(ATTN: RECASTS direct quotes in paras 4-5, 7-8 with KCNA's English dispatch; ADDS photo)
SEOUL, March 30 (Yonhap) -- North Korea lashed out at U.S. Secretary of State Mike Pompeo on Monday for seeking continued international pressure against the regime while calling for the resumption of dialogue.
In a statement carried by the North's Korean Central News Agency (KCNA), the North Korean foreign ministry's "new department director general for negotiations with the U.S." also threatened Pyongyang will take its "own way" amid stalled talks over its nuclear program.
The official accused Pompeo of encouraging other nations to stay committed to applying diplomatic and economic pressure against North Korea during a press conference last week after a video conference among foreign ministers of the Group of Seven (G7) major economies.
"The reckless remarks made by Pompeo seriously impaired the signboard of dialogue put up by the U.S. president as a decoy to buy time and create the environment favorable for himself," the official said.
"No matter how excellent and firm the relationship between the top leaders of the two countries is, it cannot reverse the U.S. hostile policy towards the DPRK," he added. DPRK stands for the North's official name, Democratic People's Republic of Korea.
Trump has boasted of his good relations with North Korean leader Kim Jong-un. Last week, North Korea said that Trump sent a personal letter to Kim and expressed his intention to help Pyongyang fight against the coronavirus. But Pyongyang has not responded to the U.S. offer, according to Pompeo.
This Reuters photo shows U.S. Secretary of State Mike Pompeo speaking at a news conference in Washington on March 25, 2020, after the teleconference of Group of Seven foreign ministers. (Yonhap)
"Hearing Pompeo's reckless remarks, we dropped the interest in dialogue with further conviction, but have become more zealous for our important planned projects aimed to repay the U.S. with actual horror and unrest for the sufferings it has inflicted upon our people," the official claimed.
The official then warned, "If the U.S. bothers us, it will be hurt."
Negotiations between the two sides on the North's nuclear weapons program have been stalled since the no-deal Hanoi summit between Trump and Kim in February last year due to wide differences over the scope of Pyongyang's denuclearization measures and Washington's sanctions relief.
Since then, the North has stressed its self-reliance and moved to beef up defense capabilities. Late last year, Kim Jong-un said that he has no expectation that the U.S. would lift sanctions and called for seeking a breakthrough to tackle challenges.
U.S. President Donald Trump (R) and North Korean leader Kim Jong-un hold talks at the Sofitel Legend Metropole hotel in Hanoi on Feb. 28, 2019, in this photo carried by the North's official Korean Central News Agency the next day. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-03-30--Employee at Samsung's chip plant tests positive for coronavirus

The worker in his 20s first showed symptoms of the COVID-19 virus last week and took a test on Sunday @ @ @ @ @ government of Hwaseong , where he resides .

SEOUL, March 30 (Yonhap) -- An employee at Samsung Electronics Co.'s chip production line in Yongin, south of Seoul, was confirmed to have contracted the novel coronavirus Monday, a local government has said.
The worker in his 20s first showed symptoms of COVID-19 last week and took a test Sunday, according to the city government of Hwaseong, where he resides.
After the result came out Monday, he was taken to a hospital, and the authorities are tracing his contacts.
The world's largest maker of smartphones and memory chips reportedly sent home the worker's colleagues immediately and carried out disinfection.
He last visited the plant, located in the district of Giheung, on Saturday, Hwaseong officials said.
The factory, however, is being operated normally, and the company said it has adopted a stringent decontamination scheme so chances are extremely low for the virus to spread at the semiconductor production line through the air or via workers.
The worker is the first virus case among Samsung employees at the Giheung plant, though an employee of its cafeteria run by a contracted firm tested positive for the virus late last month.
As of Monday, South Korea had 9,661 confirmed virus cases, including 158 deaths, according to the Korea Centers for Disease Control and Prevention (KCDC).
graceoh@yna.co.kr
(END)


yna--2020-03-30--Lotte chairman highest-paid exec in S. Korea in 2019

He was the highest salary earner in 2017 with 15.2 billion won , but his compensation nearly halved the following @ @ @ @ @ earnings while standing trial on bribery charges .

SEOUL, March 30 (Yonhap) -- Lotte Group Chairman Shin Dong-bin ranked as the highest-paid corporate executive in South Korea last year, industry data showed Monday.
Shin topped the list by receiving 18.18 billion won (US$14.78 million) in wages from seven group companies, including Lotte Shopping Co., according to the companies' public disclosures. Lotte is the nation's fifth largest business group.
He was the highest salary earner in 2017 with 15.2 billion won, but his compensation nearly halved the following year as he returned his earnings while standing trial on bribery charges.
He returned to work in October 2018 as an appeals court suspended his sentence and released him from prison after eight months. Last year, the top court affirmed the ruling.
On the list of highly paid executives from owner families, CJ Group Chairman Lee Jay-hyun came next by earning 12.46 billion won in 2019, according to the company's report.
Lotte Group Chairman Shin Dong-bin arrives at Gimpo International Airport, western Seoul, to fly to Japan on Oct. 23, 2018. (Yonhap)
Hyundai Motor Group Chairman Chung Mong-koo got 7.04 billion won last year, down 26.5 percent from the previous year, while the annual salary of his son and heir apparent, Chung Euisun, spiked 75.8 percent on-year to 5.18 billion won, according to the corporate report.
SK Group chief Chey Tae-won was paid 6 billion won in 2019, and Koo Kwang-mo, who chairs LG Group, received 5.4 billion won.
Samsung Electronics Vice Chairman Lee Jae-yong did not receive salary for the third year in a row in 2019 as he faced trial over a graft scandal.
Outside owner families, Bae Jae-hyun, vice president of online game publisher NCSoft, topped the list with 16.2 billion won in wages last year.
SK SUPEX Council chairman Cho Dae-sik came next with 4.66 billion won, followed by Samsung Electronics Vice Chairman Kwon Oh-hyun who earned 4.64 billion won, their company data showed.
In South Korea, companies are legally required to disclose the salaries of corporate executives who earn more than 500 million won.
graceoh@yna.co.kr
(END)


yna--2020-03-30--(LEAD) Camp Humphreys contractor tests positive for coronavirus, raising USFK infections to 13

USFK remains at a level of `` high '' risk across the peninsula and is implementing various control measures to @ @ @ @ @ virus , including a declared Public Health Emergency by its commander Gen. Robert Abrams last @ @ @ @ @ and enforce compliance , according to his office .

(ATTN: ADDS more details in paras 5, 7-8, photo)
SEOUL, March 30 (Yonhap) -- A U.S. citizen working at a U.S. Forces Korea (USFK) base tested positive for the coronavirus on Monday, bringing the total number of USFK-related infections to 13, the military said.
The latest COVID-19 patient is an American contractor working at Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul, according to USFK.
He is currently in isolation at his off-base residence, and he last visited the garrison on Friday, it added.
"KCDC and USFK are actively conducting contact tracing to determine whether anyone else may have been exposed," USFK said in a release. KCDC is the acronym of the Korean Centers for Disease Control and Prevention.
Of the 13 confirmed cases, two are active-duty soldiers and the remainder are either USFK employees or family members of service members.
A military guard checks the temperature of a driver at the entrance to the U.S. Army Garrison Humphreys compound in Pyeongtaek, 70 kilometers south of Seoul, on Feb. 28, 2020, to prevent spread of the novel coronavirus, in this photo provided by United States Forces Korea. (PHOTO NOT FOR SALE) (Yonhap)
USFK remains at a level of "high" risk across the peninsula and is implementing various control measures to stop the spread of the virus, including a declared Public Health Emergency by its commander Gen. Robert Abrams last week to issue related guidance and enforce compliance, according to his office.
As the Pyeongtaek compound has seen a series of coronavirus infections in recent days, USFK brought its Health Protection Condition Levels (HPCON) a notch higher to "Charlie Plus," or "C+" for Camp Humphreys on Friday. All other installations are operating at HPCON-Charlie.
The C+ level calls for restricting all movement, except for mission essentials and basic needs, and shutting down several major facilities, such as schools, government offices and religious facilities, according to USFK.
This image captured from U.S. Forces Korea's website on March 30, 2020, shows a comparison between Health Protection Condition Levels Charlie (HPCON-C) and HPCON Charlie Plus (HPCON-C+). (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-03-30--(LEAD) N. Korea slams Pompeo over remarks on increased pressure

President Donald Trump has boasted of his good relations with North Korean leader Kim Jong-un .
Last week , North @ @ @ @ @ a personal letter to Kim and expressed his intention to help Pyongyang fight against the @ @ @ @ @ not responded to the U.S. offer , according to Pompeo .

(ATTN: ADDS more details in paras 3, 5-10, photo)
SEOUL, March 30 (Yonhap) -- North Korea lashed out at U.S. Secretary of State Mike Pompeo on Monday for seeking continued international pressure against the regime while calling for the resumption of dialogue.
In a statement carried by the North's Korean Central News Agency (KCNA), the North's "new director" in charge of negotiations with the U.S. threatened Pyongyang will take its "own way" amid stalled talks over its nuclear program.
The official accused Pompeo of encouraging other nations to stay committed to applying diplomatic and economic pressure against North Korea during a press conference last week after a video conference among foreign ministers of the Group of Seven (G7) major economies.
"The initiative for dialogue that the U.S. has proposed to earn time and create environments favorable for its president was seriously damaged," the statement read. "His words led us to lose will for dialogue for sure again."
The official then claimed, "However great and strong the friendly relationship between the leaders of the two nations is, it cannot change the U.S.' hostile policy against us."
President Donald Trump has boasted of his good relations with North Korean leader Kim Jong-un. Last week, North Korea said that Trump sent a personal letter to Kim and expressed his intention to help Pyongyang fight against the coronavirus. But Pyongyang has not responded to the U.S. offer, according to Pompeo.
The North Korean official then warned the U.S. not to provoke the North, which would only to lead to adverse consequences.
Negotiations between the two sides on the North's nuclear weapons program have been stalled since the no-deal Hanoi summit between Trump and Kim in February last year due to wide differences over the scope of Pyongyang's denuclearization measures and Washington's sanctions relief.
Since then, the North has stressed its self-reliance and moved to beef up defense capabilities. Late last year, Kim Jong-un said that he has no expectation that the U.S. would lift sanctions and called for seeking a breakthrough to tackle challenges.
U.S. President Donald Trump (R) and North Korean leader Kim Jong-un hold talks at the Sofitel Legend Metropole hotel in Hanoi on Feb. 28, 2019, in this photo carried by the North's official Korean Central News Agency the next day. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-03-30--Moon vows efforts toward G-20 support for Africa's fight against coronavirus

In a 17-minute conversation , Abiy pointed out that responding to COVID-19 has emerged as one of the biggest problems @ @ @ @ @ needs to learn from South Korea 's experience , the presidential office Cheong Wa Dae @ @

SEOUL, March 30 (Yonhap) -- South Korean President Moon Jae-in pledged efforts on Monday to induce international support for Africa in fighting the coronavirus pandemic during his phone talks with Ethiopian Prime Minister Abiy Ahmed.
In a 17-minute conversation, Abiy pointed out that responding to COVID-19 has emerged as one of the biggest problems in Africa and the continent needs to learn from South Korea's experience, the presidential office Cheong Wa Dae said.
"Ethiopia is suffering huge damages in its economy due to COVID-19," the prime minister, the 2019 Nobel Peace Prize laureate, was quoted as saying by Cheong Wa Dae spokesman Kang Min-seok.
During the talks, made at Abiy's request, he told Moon that he was "proud" of the "brother-like president's coronavirus response," saying Africa is in need of "your experience and global leadership," Kang added.
South Korean President Moon Jae-in holds phone talks with Ethiopian Prime Minister Abiy Ahmed at Cheong Wa Dae in Seoul on March 30, 2020, in this photo provided by Moon's office. (PHOTO NOT FOR SALE) (Yonhap)
The president, in response, reminded him that the Group of 20 (G-20) members expressed their concerns in last week's video summit about the vulnerability of Africa's health systems and economies.
"I expect that the issue of providing support to Africa will be addressed intensively in the process of taking follow-up measures to the G-20 joint statement," Moon said.
He extended his gratitude to the Ethiopian government for its cooperation in bringing South Korean troops back home from South Sudan on the nation's chartered flight after their U.N. peacekeeping mission.
Moon requested the prime minister's help, if necessary, for South Korean nationals in Africa seeking to fly to their homeland, noting that Ethiopia is a continental aviation hub.
Abiy said his government would provide South Korea with such help at any time.
lcd@yna.co.kr
(END)


yna--2020-03-30--Camp Humphreys contractor tests positive for coronavirus, raising USFK infections to 13

SEOUL, March 30 (Yonhap) -- A U.S. citizen working at a U.S. Forces Korea (USFK) base tested positive for the coronavirus on Monday, bringing the total number of USFK-related infections to 13, the military said.
The latest COVID-19 patient is an American contractor working at Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul, according to USFK.
He is currently in isolation at his off-base residence, and he last visited the garrison on Friday, it added.
"KCDC and USFK are actively conducting contact tracing to determine whether anyone else may have been exposed," USFK said in a release. KCDC is the acronym of the Korean Centers for Disease Control and Prevention.
USFK remains at a level of "high" risk across the peninsula and is implementing various control measures to stop the spread of the virus, including a declared Public Health Emergency by its commander Gen. Robert Abrams last week to issue related guidance and enforce compliance, according to his office.
A military guard at U.S. Army Garrison Humphreys in Pyeongtaek, 70 kilometers south of Seoul, checks the temperature of a driver to screen entrants to the compound for the novel coronavirus, on Feb. 28, 2020, in this photo provided by United States Forces Korea. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-03-30--(3rd LD) Concerns over new infections grip capital area

Around 70 percent of those who recently returned to the country are based in the wider Seoul metropolitan area , @ @ @ @ @ Friday , stressing that containing the virus in the area would decide `` winning or @ @ @ @ @ the virus .

(ATTN: UPDATES figures in paras 7, 11; ADDS details in para 8)
SEOUL, March 30 (Yonhap) -- New infections reported in the wider Seoul area surpassed those in Daegu and North Gyeongsang Province, the epicenter of the coronavirus outbreak here, on Monday, spurring concerns over transmission in the capital area that is home to half of the South Korean population.
New COVID-19 infections reported in Seoul, Gyeonggi Province and Incheon totaled 31, bringing the total number of cases in the metropolitan area to 947, according to data compiled by the Korea Centers for Disease Control and Prevention (KCDC).
Health authorities guide passengers arriving from London and Frankfurt at Incheon International Airport, west of Seoul, on March 29, 2020. (Yonhap)
This marked the second straight day that the number of new infections in the capital surpassed that in the southeastern city of Daegu and North Gyeongsang Province, where nearly 8,000 cases have been reported.
A total of 25 cases were reported in Daegu and North Gyeongsang Province, according to the KCDC data. The two areas also reported 25 new cases the previous day, while 42 cases were reported in the capital area.
A majority of the recent cases reported in Seoul, Gyeonggi Province and Incheon, a port city just west of Seoul, are believed to be imported cases, as South Koreans living abroad flocked back to their home country to evade the contagious virus.
Around 70 percent of those who recently returned to the country are based in the wider Seoul metropolitan area, Prime Minister Chung Sye-kyun said Friday, stressing that containing the virus in the area would decide "winning or losing" the fight against the virus.
This photo, taken March 28, 2020, shows Manmin Central Church in the southwestern ward of Guro where group infections occurred. The ward office has temporarily closed the church. (Yonhap)
Separate data compiled by the Seoul Metropolitan Government showed that 126 of the estimated 448 patients in the country's capital are associated with imported cases.
This is currently the biggest source of infection identified among cases reported in the city. The city's data includes cases that were reported before 6 p.m. Monday, while the KDCD's includes those reported before midnight.
Other major infection clusters in the city include a call center and a church, both located in the southwestern Seoul ward of Guro.
A total of 96 cases have been reported in relation to the call center, where outsourced workers reportedly worked in narrow booths in a packed office.
Another 27 cases were traced to Manmin Central Church. While the church has held online services since early March, the infections are believed to have occurred among members who were preparing for the online service.
By district, the southern ward of Gangnam reported the highest number of cases at 38, followed by Guro at 31. Cases in the eastern ward of Dongdaemum, where group transmissions were reported at a church and an internet cafe, totaled 26.
South Korea has reported 9,661 coronavirus cases so far, according to the KCDC data. A total of 158 have died, and 5,228 have been released after recovery.
mlee@yna.co.kr
(END)


yna--2020-03-30--N. Korea slams Pompeo over remarks on increased pressure

`` The initiative for dialogue that the U.S. has proposed to earn time and create environments favorable for its president @ @ @ @ @ the statement read .
`` His words led us to lose will for dialogue for @ @ @ @

SEOUL, March 30 (Yonhap) -- North Korea lashed out at U.S. Secretary of State Mike Pompeo on Monday for seeking continued international pressure against the regime while calling for the resumption of dialogue.
In a statement carried by the North's Korean Central News Agency (KCNA), the North's "new director" in charge of negotiations with the U.S. threatened Pyongyang will take its "own way" amid stalled talks over its nuclear program.
The official accused Pompeo of encouraging other nations to up pressure against North Korea during a press conference on Friday after a video conference among foreign ministers of the U.S.' partner countries.
"The initiative for dialogue that the U.S. has proposed to earn time and create environments favorable for its president was seriously damaged," the statement read. "His words led us to lose will for dialogue for sure again."
The director then warned the U.S. not to provoke the North, which would only to lead to adverse consequences.
graceoh@yna.co.kr
(END)


yna--2020-03-30--(URGENT) N. Korea slams Pompeo's remarks, vows to quit dialogue

(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--2020-03-30--N.K. paper warns against alcohol-related misconduct amid anti-coronavirus efforts

The article was seen as a warning towards officials and people to tighten their discipline , as efforts to prevent @ @ @ @ @ in the North have been ongoing for over two months in an economy already faltering @ @ @ @

SEOUL, March 30 (Yonhap) -- North Korea's main newspaper on Monday warned its people against alcohol-related misconduct, days after an official was dismissed for duty negligence amid the country's efforts to prevent an outbreak of the coronavirus.
The Rodong Sinmun, an organ of the North's ruling Workers' Party, made the appeal in an editorial, saying, "We must fight strongly against the infiltration of immoral and uncivilized lifestyles into our country."
It also warned against "indecent acts" by those under the influence of alcohol and those with uncivilized manners in public spaces, such as theaters.
Earlier, the paper carried an unusual report saying an official from the Kangwon Province had been expelled from the party for unspecified alcohol-related misconduct and negligence of duty in violation of coronavirus quarantine measures.
It is rare for state media to openly criticize an official for dereliction of duty related to alcohol.
The article was seen as a warning towards officials and people to tighten their discipline, as efforts to prevent an outbreak of the virus in the North have been ongoing for over two months in an economy already faltering under international sanctions.
In late January, North Korea declared the launch of a national emergency system against the new coronavirus, calling such preventive efforts a "political matter" that could determine the fate of the country.
Since then, it has stepped up efforts to prevent an outbreak, shutting down its border with China, where the virus originated, and toughening quarantine procedures for foreigners.
Concerns are lingering, however, that North Korea could be vulnerable as it shares a long and porous border with China, and lacks key medical supplies and infrastructure to test and treat infected people.
This photo, released by the North's Korean Central News Agency on Jan. 22, 2020, shows a new propaganda poster highlighting the important tasks set forth at the fifth plenary meeting of the 7th Central Committee of North Korea's ruling Workers' Party early this year. This poster reads, "Self-reliance. Self-prosperity. Let's break through all hardships that hinder our progress." (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
julesyi@yna.co.kr
(END)


yna--2020-03-30--Tougher entry policy for overseas arrivals more reasonable than blanket entry ban: ministry

`` It was not a global pandemic at the beginning , and it is now .
There have been many @ @ @ @ @ rankings of confirmed cases have changed , '' he said .
`` I think the @ @ @ @ @ in line with those changes . ''

SEOUL, March 30 (Yonhap) -- Quarantining all arrivals from overseas is a better way of dealing with the inflow of coronavirus cases than a blanket entry ban, a senior foreign ministry official said Monday.
The government announced Sunday that it will enforce 14-day self-isolation for all passengers arriving from abroad regardless of their nationalities, starting Wednesday, as the country has seen a sharp rise in imported cases of COVID-19.
The decision marks an expansion of quarantine measures in place for all arrivals from Europe and the United States. But critics have asked why the government has decided against imposing an all-out entry ban.
"At this stage, we believe that it is best and reasonable to respond with stronger entry restrictions rather than a blanket entry ban," a senior foreign ministry official told reporters on condition of anonymity.
"Out of the various options, related ministries within the government are making a comprehensive decision based on the opinions of the quarantine authorities," he said.
The official added that an outright ban would not be a solution, citing the worsening situation in other countries that adopted such a measure from the beginning.
The official also said the government's principle of maintaining "openness" could change depending on the circumstances.
"It was not a global pandemic at the beginning, and it is now. There have been many changes as the countries' rankings of confirmed cases have changed," he said. "I think the government policy should also come in line with those changes."
South Korea has stressed that its response to COVID-19 is based on "openness and transparency," taking a cautious stance about adopting aggressive entry restrictions.
On Monday, South Korea reported a total of 9,661 confirmed cases of the novel virus, with 158 deaths. The number of imported cases rose to about 290 last week, from 77 tallied the previous week, according to the Korea Centers for Disease Control and Prevention (KCDC).
Arrivals from Germany wait to be transported to a coronavirus testing station at Incheon International Airport, west of Seoul, on March 22, 2020, after South Korea toughened quarantine measures for arrivals from Europe in order to contain the virus outbreak. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-03-30--GM Korea to defer 20 pct of pay from April amid virus woes

In an email statement , the Detroit carmaker said , `` GM 's business and its balance sheet were very @ @ @ @ @ and the steps we are taking now will help ensure that we can regain our @ @ @ @ @ after this crisis is over . ''

SEOUL, March 30 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Monday it will defer 20 percent of pay for manager-level employees from April amid the new coronavirus outbreak.
In a message to employees, the company said the managers will receive the deferred salary in a lump-sum payment later this year or in the first quarter of next year.
The company also plans to defer 20 percent of pay for executives from next month and in addition, cut 5 to 10 percent of their salaries, as the company moves to protect its balance sheet in response to COVID-19, a GM Korea spokesman said.
The move is in line with parent GM's plan to delay paying 20 percent of salary for its 69,000 employees worldwide.
In an email statement, the Detroit carmaker said, "GM's business and its balance sheet were very strong before the COVID-19 outbreak and the steps we are taking now will help ensure that we can regain our momentum as quickly as possible after this crisis is over."
This photo, taken on Feb. 17, 2020, shows GM Korea's plant in Incheon, just west of Seoul. (Yonhap)
kyongae.choi@yna.co.kr
(END)


yna--2020-03-31--Seoul stocks open sharply higher on Wall Street gains

SEOUL , March 31 ( Yonhap ) -- South Korean stocks opened sharply higher Tuesday , apparently tracking overnight gains @ @ @ @ @ and drastic stimulus measures around the globe to minimize the economic fallout from the spread @ @ @ @ @

SEOUL, March 31 (Yonhap) -- South Korean stocks opened sharply higher Tuesday, apparently tracking overnight gains on Wall Street amid massive and drastic stimulus measures around the globe to minimize the economic fallout from the spread of the new coronavirus.
The benchmark Korea Composite Stock Price Index (KOSPI) added 23.21 points, or 1.35 percent, to 1,740.33 in the first 15 minutes of trading.
The strong start follows overnight gains on Wall Street that came on the hope of economic stimulus steps.
The Dow Jones Industrial Average spiked 3.19 percent to close at 22,327.48 on Monday (New York time).
In Seoul, most large caps were bullish.
Market kingpin Samsung Electronics added 0.52 percent, while No. 2 chipmaker SK hynix surged 1.19 percent.
Leading automakers Hyundai Motor and Kia Motors spiked 2.22 percent and 2.81 percent, respectively.
The local currency was trading at 1,221.40 won against the U.S. dollar, up 3.0 won from the previous session's close.
bdk@yna.co.kr
(END)


yna--2020-03-31--BOK to offer US$12 bln to banks using U.S. currency swap

The money is the first batch of the BOK 's $ 60 billion currency swap agreement signed with the U.S. @ @ @ @ @ , aimed at tackling a dollar crunch and a plunge in the local currency sparked @ @ @ @ @ coronavirus and a plunge in oil prices .

SEOUL, March 31 (Yonhap) -- The Bank of Korea (BOK) was to inject US$12 billion into banks Tuesday in its first round of dollar lending using a currency swap line with the United States Federal Reserve in a bid to stabilize the currency market.
The 30-minute online auction starts at 10 a.m., and lenders will be allowed to apply for seven-day debt of $2 billion and $10 billion in 84-day loans, the central bank said in a statement.
The minimum bidding rate begins at 0.322 percent per year for seven-day debt and 0.3210 percent for the longer-dated loans. Successful bidders will actually receive dollars Thursday.
A BOK official said the dollar supply will help stabilize the currency market, and the central bank will auction off more dollars considering the market situation.
The money is the first batch of the BOK's $60 billion currency swap agreement signed with the U.S. central bank on March 19, aimed at tackling a dollar crunch and a plunge in the local currency sparked by the spread of the coronavirus and a plunge in oil prices.
South Korea's latest deal with the Fed is the second of its kind. In 2008, South Korea signed the first currency swap deal with the U.S. to cushion the country from the fallout from the global financial crisis.
Currently, South Korea has bilateral currency swap arrangements with eight countries, including Australia, Canada and China.
(END)


KOSPI 1,739.29 UP 22.17 points (open)


KOSDAQ 551.48 UP 9.37 points (open)


Tuesday's weather forecast

SEOUL , March 31 ( Yonhap ) -- The following is the weather forecast for South Korea 's 12 major @ @ @ @ @ .


yna--2020-03-31--S. Korea to begin new school year with online classes on April 9 amid virus

The new school year here usually starts in March , but the country has postponed it three times by five @ @ @ @ @ over concerns that schools are vulnerable to cluster infections of COVID-19 .

SEOUL, March 31 (Yonhap) -- South Korea will begin the new school year with online classes on April 9 following repeated delays due to the novel coronavirus, the prime minister said Tuesday.
The unprecedented move to introduce online classes will be applied step by step to schools, Prime Minister Chung Sye-kyun said, without elaborating.
The new school year here usually starts in March, but the country has postponed it three times by five weeks to this coming Monday over concerns that schools are vulnerable to cluster infections of COVID-19.
"The government judged that it is reasonable to begin the new school year step by step starting on April 9 to take into account preparation situations and help students adapt (to online classes)," Chung said at a pan-government meeting on virus responses.
Calling for thorough preparations, the prime minister said all students should be granted computer access and connection to the internet.
Chung also hinted at the possibility that the state college entrance exam set for Nov. 19 will be delayed.
sooyeon@yna.co.kr
(END)


yna--2020-03-31--Dollar opens at 1,223.0 won DN from 1,224.4 won


yna--2020-03-31--Six major banks' dividend payouts soar 18.5 pct in 2019

The total is the highest paid out since 2016 , from which comparable figures are available .
Hana Bank was @ @ @ @ @ between Hana Bank and Korea Exchange Bank in 2015 .

SEOUL, March 31 (Yonhap) -- Dividend payouts by six major banks in South Korea surged 18.5 percent on-year in 2019 on the back of near-record earnings, industry data showed Tuesday.
Combined dividend payments by the lenders -- KB Kookmin, Shinhan, Woori, Hana, Standard Chartered Bank Korea and Citibank Korea -- came to 4.7 trillion won (US$3.8) last year, according to the lenders' business reports, according to the data.
The total is the highest paid out since 2016, from which comparable figures are available. Hana Bank was born out of a merger between Hana Bank and Korea Exchange Bank in 2015.
Woori paid out the most dividends of 1.35 trillion won to shareholders last year, nearly 90 percent of its net income and three times the amount paid the previous year.
Hana followed with 961.5 billion won, Shinhan with 890 billion won, KB Kookmin with 731.9 billion won and Standard Chartered Bank Korea came next with 655 billion won, with dividend payments by Citibank Korea reaching 65.2 billion won.
The sharp increase in dividend payments reflects their bumper earnings last year that totaled slightly over 9 trillion won.
Their dividend payout ratios, or the proportion of earnings paid out as dividends to shareholders, averaged 51.6 percent last year, up 8.8 percentage points from a year earlier and the highest since 2016.
The headquarters of Woori Bank in Seoul (Yonhap)
(END)


yna--2020-03-31--(LEAD) Korea's industrial output dips most in 9 years in Feb. on virus fallout

`` Local carmakers were acutely hurt by the pandemic as they faced hurdles in securing necessary parts , '' an @ @ @ @ @ .
`` The virus outbreak also dealt a harsh blow to the service and retail @ @ @ @ @ in consumption . ''

(ATTN: ADDS details throughout, photo)
By Kang Yoon-seung
SEOUL, March 31 (Yonhap) -- South Korea's overall industrial output contracted the most in nine years in February as the economic fallout from the spread of the new coronavirus began to affect the manufacturing activity and domestic spending, data showed Tuesday.
The 3.5 percent on-month drop in February marks the sharpest decline since February 2011, when the output dipped 3.7 percent, according to the data compiled by Statistics Korea.
The country's production in the mining, manufacturing, gas and electricity industries also fell 3.8 percent in February from a month earlier, marking the sharpest fall since December 2008, the data showed.
Production of chips increased 3.1 percent on-month, but that of automobiles nose-dived 27.8 percent. The output of machinery also decreased 5.9 percent over the period, according to the data.
The spiraling number of COVID-19 cases around the globe has dealt a harsh blow to South Korean industries.
"Local carmakers were acutely hurt by the pandemic as they faced hurdles in securing necessary parts," an official from the agency said. "The virus outbreak also dealt a harsh blow to the service and retail segments due to changing patterns in consumption."
Local manufacturers have been facing hurdles in securing key parts as suppliers around the globe suspended their operations amid the pandemic, with global shipments of goods also being disrupted by entry bans.
The production from the service sector sank 3.5 percent, marking the sharpest drop since the agency started compiling the data in 2000. The output from the hospitality and restaurant industries crashed 18.1 percent.
The virus pandemic weighed on consumers' sentiment as well, leading to a 6 percent drop in retail sales over the period.
Sales of durable goods, such as cars, moved down 7.5 percent, and those of nondurable ones, such as cosmetics, shed 0.6 percent, the data showed.
The demand for semi-durable goods, including clothes, especially plummeted 17.7 percent as people refrained from going outside due to the virus pandemic.
The facility investment decreased a whopping 4.8 percent in February from a month earlier, led mostly by the automobile segment.
Amid the dire global pandemic, South Korea detected 9,661 cases of infections as of Sunday.
A Kia Motors Corp. plant in Gwangju, some 330 kilometers south of Seoul, is quiet in this file photo taken on Feb. 11, 2020, as its operation was temporarily suspended due to a shortage of parts from China amid the coronavirus crisis. (Yonhap)
colin@yna.co.kr
(END)


yna--2020-03-31--(URGENT) S. Korea to begin new school year with online classes gradually on April 9: PM


yna--2020-03-31--Korea's industrial output falls sharply in Feb. on virus fallout

SEOUL , March 31 ( Yonhap ) -- South Korea 's overall industrial output plunged 3.5 percent in February from @ @ @ @ @ the four straight months of on-month growth due to the economic fallout from the spread @ @ @ @ @ data showed Tuesday .

SEOUL, March 31 (Yonhap) -- South Korea's overall industrial output plunged 3.5 percent in February from a month earlier, snapping the four straight months of on-month growth due to the economic fallout from the spread of the new coronavirus, data showed Tuesday.
The on-month drop marks the sharpest decline since February 2011, when the output dipped 3.7 percent, according to the data compiled by Statistics Korea.
The country's production in the mining, manufacturing, gas and electricity industries also fell 3.8 percent in February from a month earlier, marking the sharpest fall since December 2008, the data showed.
colin@yna.co.kr
(END)


yna--2020-03-31--(URGENT) S. Korea's industrial output falls 3.5 pct in Feb.


yna--2020-03-31--(EDITORIAL from Korea JoongAng Daily on March 31)

However , the ministry can not avoid responsibility for such a slow reaction after doing nothing over the past month @ @ @ @ @ to distribute face masks to ordinary citizens .
It delayed opening schools three times , @ @ @ @ @ concrete plan to protect students ' right to learn .
If it followed the lead @ @ @ @ @ classes two to three weeks ago , it could have prepared for such a loss @ @ @ @

Tackling the education vacuum
The Ministry of Education will announce plans for online classes for primary, middle and high schools today. Such measures are unavoidable, because our schools cannot be shut down indefinitely as a result of the coronavirus outbreak.
However, the ministry cannot avoid responsibility for such a slow reaction after doing nothing over the past month, beyond withdrawing a plan to distribute face masks to ordinary citizens. It delayed opening schools three times, but could not devise a concrete plan to protect students' right to learn. If it followed the lead of universities that started online classes two to three weeks ago, it could have prepared for such a loss of school hours.
The Education Ministry belatedly took action last week, announcing some guidelines for online classes and checking digital readiness of students. By Monday afternoon, the ministry asked each education office across the country to offer information on computers, smartphones and other digital equipment students have. That's the same as asking football players if they have football shoes right before the game starts.
The most vulnerable group is students whose digital access is limited. About 130,000 students do not use digital gadgets at all. Usually, each household has one computer, but what if it has two or more children?
A number of schools are suddenly required to brace for online classes. Most of them have to record teachers' online classes with smartphones, as they don't have quality recording equipment. They cannot afford the expensive digital equipment available in colleges. The ministry promised to increase online-learning content and augment the capacity of computer servers. But that is impossible in such a short period of time, and most schools will most likely experience a severe online traffic jam.
No one knows for how long this education crisis will last. The Education Ministry must present long-term measures before it is too late. It also must consider readjusting its school calendar and delay the annual Scholastic Ability Test for college admissions. (The test takes place in November.) The government must tackle the unprecedented challenge in a proactive way.
The Ministry of Education needs to consider the introduction of "edutech" for public education. Even without the coronavirus outbreak, digital education is a new global trend. Many interactive programs, such as Zoom and Webex, have already hit the market. Khan Academy Korea also offers free-of-charge interactive programs that can offer customized lessons to students. The government needs to find ways to take advantage of such services.
(END)


yna--2020-03-31--(EDITORIAL from Korea Times on March 31)

The relief money will be given to about 14 million households , or 35 million people .
The remaining 30 @ @ @ @ @ get the money because they are well-to-do .
This might raise the issue of fairness @ @ @ @ @ are included among the eligible beneficiaries of the aid .
That is why President Moon @ @ @ @ @ easy to make .

Disaster relief money
Time to stabilize people's livelihoods, boost consumption
The Moon Jae-in administration has decided to provide "emergency disaster relief money" to 70 percent of the nation's households to help them ride out the economic difficulties arising from the coronavirus pandemic. This decision is inevitable to help cushion the shock of the virus outbreak.
President Moon announced the disaster relief plan during the third Emergency Economic Council meeting at Cheong Wa Dae, Monday. Under the plan, 1 million won ($820) will be given to a four-person household, whose gross monthly income is below 7.12 million won, or 150 percent of the average median income. A household with three persons will be given 800,000 won, while 600,000 won and 400,000 won will be offered to a two-member household and a single person household, respectively.
The relief money will be given to about 14 million households, or 35 million people. The remaining 30 percent of households will not get the money because they are well-to-do. This might raise the issue of fairness as relatively high income earners are included among the eligible beneficiaries of the aid. That is why President Moon said the decision was not easy to make.
However, Moon said the people deserve the relief money for their difficulties participating in social distancing and quarantine measures in the face of the rapid spread of COVID-19. He added that the cash provision was required to "console" and "cheer up" the people. The measure came after Moon announced an economic rescue package worth 100 trillion won last week to keep struggling businesses afloat and prevent the economy from collapsing amid fears of a global recession.
Now the central government and local authorities should work together to finance the aid package. The government plans to mobilize 7.1 trillion won by drawing up a supplementary budget bill. The remaining 2 trillion won will be paid by provincial and municipal governments.
The Moon administration and the ruling Democratic Party of Korea also must promote bipartisanship with the opposition parties to ensure the speedy passage of the budget bill through the National Assembly. The bill is expected to be presented to the Assembly soon after the April 15 general election.
The conservative main opposition United Future Party and other splinter parties should not try to politicize the aid program. They have so far opposed providing direct cash payments to people, arguing that this was is a populism-based policy ahead of the election to woo voters. They have also expressed worries about the soaring budget deficit which undermines fiscal soundness.
The opposition's argument is somewhat understandable. But considering the aggravating coronavirus crisis and its economic damage, more radical measures are required to stem the spread of the virus and overcome its fallout. Various relief measures should be offered for hard-hit businesses and individuals, including small business owners and the self-employed.
So it is the time to end any wasteful political and ideological debate over the cash provision. Rather, the rival parties need to pool their wisdom to make sure that the support program will be effectively executed so as to stabilize people's livelihoods and help boost consumption.
(END)


yna--2020-03-31--(EDITORIAL from Korea Herald on March 31)

It is important to grasp the intention of provocation , but what is more important is to deter provocations and @ @ @ @ @ , the government should let the people know what it is doing in that direction @ @ @ @ @ as a formality is pointless .
It must not end up only announcing data such @ @ @ @ @ flight distance and number of missiles fired .

Keep up vigilance
Seoul neither denounces NK projectile provocation nor expresses regret
The presidential office said Sunday its National Security Office chief held an emergency meeting shortly after North Korea fired two short-range projectiles off its east coast early in the morning.
Cheong Wa Dae disclosed the meeting to debunk criticism that it had not responded to the emergency situation. It neither condemned the North's provocation, nor expressed regret. It only said through a spokesperson that "we are watching the situation."
North Korea's short-range missiles threaten South Korea most. If it fires them southward, they can reach the US military base in Pyeongtaek, Gyeonggi Province.
It is the government's duty to protect the lives and properties of citizens. It is a matter of course to denounce a provocation that threatens its people, or at least to express regret.
Watching the situation is almost meaningless, as Cheong Wa Dae effectively made no response. Sometimes indifference may work as a strategic choice, but considering the North's frequent provocations of late, it appears too easy-going.
North Korea has launched similar projectiles on four occasions this month alone. It appears to be acting on a schedule to improve the performance of its launch vehicles and short-range missiles, as it repeats the process of preparation, launch and evaluation.
Sunday's two projectiles were reportedly fired within an interval of 20 seconds. They reached a maximum altitude of 30 kilometers and flew a distance of 230 kilometers. If the interval is shortened and the maximum altitude is lowered, it will become more difficult for the combined South Korea and US forces to intercept them.
Even as the North keeps attempting to upgrade its weapons, the South is frustratingly responding in the same way. The military authorities said Sunday that "the North's military action is inappropriate in a situation where the world is fighting the coronavirus," and urged the North to stop provocations. This sounds like a mere formality.
The statement is almost identical to the response after the March 21 short-range missile launches. At that time, Cheong Wa Dae said the same thing: "We are watching the situation." And it did not even mention whether it had held an emergency meeting.
The South links the North's provocations to an international coronavirus situation, but Pyongyang seems to be relentless in such a situation.
There are speculations the North may have carried out provocations to rally residents discontented with the dire economic conditions -- Pyongyang sealed the border with China for fear of transmission of the novel coronavirus. Nevertheless, an easy-going response is hardly warranted.
It is important to grasp the intention of provocation, but what is more important is to deter provocations and secure defense capabilities. Besides, the government should let the people know what it is doing in that direction. Repeating a tenuous response as a formality is pointless. It must not end up only announcing data such as the flight time, flight distance and number of missiles fired.
North Korea focused on strategic weapons targeting the US, such as mid- and long-range ballistic missiles, until 2017. Afterward it shifted focus to tactical weapons targeting South Korea, such as short-range missiles. Last year, it tested short-range projectiles on 12 occasions, and this year it began to integrate them into its existing weapons system for deployment.
The North disclosed in January that it has reshuffled the command of its People's Army. Overhauling the military command and improving the performance of weapons are signs the North is trying to strengthen its capability to wage war. The government must brace thoroughly for the escalating threat.
There is little possibility of Pyongyang stopping its weapon development. It is worrisome that South Koreans appear to be growing insensitive to its provocations. If we keep responding easily, saying "they are doing it again, it's no big deal," the dike of security will collapse eventually.
Cheong Wa Dae and the government must keep up vigilance against the North's military moves, big or small.
(END)


yna--2020-03-31--Top headlines in major S. Korean newspapers

Korean-language dailies -- Gov't to provide country 's first financial relief package amid growing virus fallout ( Kyunghyang Shinmun ) -- 47 pct of S. Koreans overseas can not vote in April general election over virus-caused procedural disruption ( Kookmin Daily ) -- Gov't to provide financial relief package to low-income families in May amid virus woes ( Donga llbo ) -- Gov't to provide financial relief package up to 1 mln won to low-income families from May ( Seoul Shinmun ) -- Gov't to provide financial relief package to 14 mln low-income households ( Segye Times ) -- 7,000 @ @ @ @ @ @ @ daily basis from April ( Chosun Ilbo ) -- Specific standards yet to be decided to deliver emergency relief package ( JoongAng Ilbo ) -- Gov't to provide country 's first financial relief package amid growing virus fallout ( Hankyoreh ) -- Gov't to provide financial relief package to 14 mln low-income households ( Hankook Ilbo ) -- Gov't to provide financial relief package up to 1 mln won to 14 mln low-income households ( Maeil Business Newspaper ) -- Gov't to provide financial relief package worth 9 tln won for low-income households @ @ @ @ @

SEOUL, March 31 (Yonhap) -- The following are the top headlines in major South Korean newspapers on March 31.
Korean-language dailies
-- Gov't to provide country's first financial relief package amid growing virus fallout (Kyunghyang Shinmun)
-- 47 pct of S. Koreans overseas cannot vote in April general election over virus-caused procedural disruption (Kookmin Daily)
-- Gov't to provide financial relief package to low-income families in May amid virus woes (Donga llbo)
-- Gov't to provide financial relief package up to 1 mln won to low-income families from May (Seoul Shinmun)
-- Gov't to provide financial relief package to 14 mln low-income households (Segye Times)
-- 7,000 incoming passengers subject to 2-week quarantine on daily basis from April (Chosun Ilbo)
-- Specific standards yet to be decided to deliver emergency relief package (JoongAng Ilbo)
-- Gov't to provide country's first financial relief package amid growing virus fallout (Hankyoreh)
-- Gov't to provide financial relief package to 14 mln low-income households (Hankook Ilbo)
-- Gov't to provide financial relief package up to 1 mln won to 14 mln low-income households (Maeil Business Newspaper)
-- Gov't to provide financial relief package worth 9 tln won for low-income households (Korea Economic Daily)
English-language dailies
-- Payment plan will give funds to 14 million households (Korea JoongAng Daily)
-- Seoul hopes to soften economic impact of virus with financial subsidy (Korea Herald)
-- Households to get up to W1 mil. in relief funds (Korea Times)
(END)


yna--2020-03-31--Korean manufacturers' sentiment sinks to over decade low for April

Many believe the spread of COVID-19 in other countries , including the United States , may also undermine South Korea @ @ @ @ @ a heavy setback last year due to the lengthy trade dispute between the U.S. and @ @

SEOUL, March 31 (Yonhap) -- The business sentiment of South Korean manufacturers dropped to the lowest point in over a decade for next month, central bank data showed Tuesday, amid concerns that the coronavirus pandemic may weaken trade and consumption around the globe.
The business sentiment index (BSI) for manufacturing here came to 54 for April, down from 69 for this month, according to the data from the Bank of Korea (BOK).
The reading marks the lowest since March 2009, when the index stood at 50.
In this file photo, taken on March 9, 2020, a worker checks a production line for masks at a facility in Yongin, just south of Seoul. (Yonhap)
The sharp decline comes amid the continued spread of the novel coronavirus at home and abroad. The World Health Organization this month declared a COVID-19 pandemic.
South Korea had reported around 9,600 confirmed cases as of Monday, with the daily number of new infections showing signs of slowing recently.
Many businesses here have been dealt a harsh blow, with local sales plummeting.
The BOK has slashed its growth outlook for Asia's fourth-largest economy to 2.1 percent from 2.3 percent, citing a delayed recovery in consumption here.
Many believe the spread of COVID-19 in other countries, including the United States, may also undermine South Korea's exports, which suffered a heavy setback last year due to the lengthy trade dispute between the U.S. and China.
The manufacturers anticipated both their local sales and exports would drop down the road.
Their BSI on exports came to 66 for April, down 16 points from 82 for this month. Their BSI on local sales moved down 15 points to 60 for the upcoming month.
The BSI of non-manufacturing firms came to 52 for April, down 16 points from 67 for March.
bdk@yna.co.kr
(END)


yna--2020-03-31--Corporate direct financing up 53 pct in February: data

Last month , six firms went public , and the aggregate amount of proceeds raised via initial public offerings came @ @ @ @ @ up from 21 billion won in January , the FSS said .

SEOUL, March 31 (Yonhap) -- South Korean companies' stock and bond sales rose 52.9 percent in February from a month earlier on the back of a sharp rise in sales of corporate debt and rights offerings, data showed Tuesday.
Local companies raised a combined 17.13 trillion won (US$14 billion) by selling stocks and bonds in February, compared with 11.2 trillion won in January, according to the data from the Financial Supervisory Service (FSS).
The surge is attributable to the 51.4 percent on-month gain in debt offerings, including bank bonds and asset-backed securities, to 16.89 trillion won, the FSS said.
Last month, six firms went public, and the aggregate amount of proceeds raised via initial public offerings came to 138.1 billion won, up from 21 billion won in January, the FSS said.
The outstanding value of bonds issued by South Korean businesses came to 531.5 trillion won as of the end of February, up 1.2 percent from a month earlier.
entropy@yna.co.kr
(END)


yna--2020-03-31--(LEAD) Major hospital in Seoul on alert after 9-year-old tests positive for coronavirus

The children 's emergency center and several other facilities , as well as 45 wards on the 13th floor of @ @ @ @ @ shut down indefinitely .

(ATTN: ADDS details in last para)
SEOUL, March 31 (Yonhap) -- A nine-year-old girl hospitalized at Asan Medical Center in Seoul tested positive for the coronavirus Tuesday, raising alert over possible transmissions at one of the biggest hospitals in South Korea.
The patient, who was being treated for non-respiratory symptoms in a single-bed room, was transferred to a negative pressure room after testing positive, according to the hospital in eastern Seoul.
An official said the hospital conducted the screening test after she was found to have visited Uijeongbu St. Mary's Hospital in nearby Gyeonggi Province.
The patient initially tested negative when she arrived at the children's emergency room at Asan Medical Center.
The children's emergency center and several other facilities, as well as 45 wards on the 13th floor of the hospital, have been shut down indefinitely.
Patients who had been in adjacent wards have also been moved to negative pressure rooms, the hospital said.
Asan Medical Center is one of the biggest general hospitals in the country, with 2,700 beds, including those for patients in critical condition.
Meanwhile, the Uijeongbu hospital, where nine cases have been reported, is scheduled to close from 8 a.m. Wednesday. The hospital will continue to treat in-patients.
The pediatric emergency center of Asan Medical Center, a major general hospital in Seoul, is closed after a nine-year-old hospitalized girl tested positive for the novel coronavirus on March 31, 2020. (Yonhap)
(END)


yna--2020-03-31--Major hospital in Seoul on alert after 9-year-old tests positive for coronavirus

An official said the hospital conducted the screening test after she was found to have visited Uijeongbu St. Mary 's @ @ @ @ @ , where nine cases have been reported .

SEOUL, March 31 (Yonhap) -- A nine-year-old girl hospitalized at Asan Medical Center in Seoul tested positive for the coronavirus Tuesday, raising alert over possible transmissions at one of the biggest hospitals in South Korea.
The patient, who was being treated for non-respiratory symptoms in a single ward, was transferred to a negative pressure room after testing positive, according to the hospital in eastern Seoul.
An official said the hospital conducted the screening test after she was found to have visited Uijeongbu St. Mary's Hospital in nearby Gyeonggi Province, where nine cases have been reported.
The patient initially tested negative when she arrived at the children's emergency room at Asan Medical Center.
The children's emergency center and several other facilities, as well as 45 wards on the 13th floor of the hospital, have been shut down indefinitely.
Patients who had been in adjacent wards have also been moved to negative pressure rooms, the hospital said.
Asan Medical Center is one of the biggest general hospitals in the country, with 2,700 beds including those for patients in critical condition.
The pediatric emergency center of Asan Medical Center, a major general hospital in Seoul, is closed after a nine-year-old hospitalized girl tested positive for the novel coronavirus on March 31, 2020. (Yonhap)
(END)


yna--2020-03-31--(LEAD) Seoul church emerges as new coronavirus infection cluster

The figure includes at least 25 patients who are congregants of Manmin Central Church , located in the southwestern Seoul @ @ @ @ @ well as their families and work colleagues , according to the Seoul metropolitan government .

(ATTN: UPDATES headline, lead, details in paras 2-3, 8)
SEOUL, March 31 (Yonhap) -- At least 35 cases of the novel coronavirus have been linked to a church of a fringe Protestant sect in Seoul, the city government said Tuesday, raising concerns over cluster infections in the populous capital.
The figure includes at least 25 patients who are congregants of Manmin Central Church, located in the southwestern Seoul ward of Guro, as well as their families and work colleagues, according to the Seoul metropolitan government.
The number of cases, released by the city government on Tuesday evening, may rise as cases connected to the church have been quickly increasing since the first infection was reported on Wednesday.
Health authorities have traced the closed contacts of 487 church members and their acquaintances, including 444 people who tested negative for the virus and 11 awaiting test results.
The church has held online services since early March, but some of its members have held meetings for the filming and production of online services, according to city officials.
It has emerged as a new hot spot of infections in Seoul, which has a population of 10 million, following nearly 100 cases at a call center in Guro.
South Korea's capital city has reported a cumulative 450 confirmed cases of the COVID-19 as of Tuesday, while the country's total stands at about 9,800 patients.
By district, the biggest number of cases, 38, was reported in the southeastern ward of Gangnam. Guro came next at 32 cases, according to the city government.
This photo, taken March 28, 2020, shows Manmin Central Church in the southwestern ward of Guro where cluster infections occurred. The ward office has temporarily closed the church. (Yonhap)
brk@yna.co.kr
(END)


yna--2020-03-31--Foreign Korean Air pilots to take 3 months of unpaid leave

The company has launched an internal emergency response committee and a special task force to evaluate and respond to the @ @ @ @ @ that it will be cutting executives ' salaries by up to 50 percent , starting @ @ @ @ @ is back on track .

SEOUL, March 31 (Yonhap) -- Korean Air Lines Co. is set to put all of its non-Korean pilots on three months of unpaid leave starting next month in a self-rescue effort amid worsening business conditions caused by the coronavirus outbreak.
Under the measure, 387 pilots are expected to go on mandatory unpaid leave from April 1 to June 30, an industry source said Tuesday.
Around 60 of them have already been off without pay, the source added.
"(The measure) is aimed at adjusting workforce following a sharp reduction in operations and entry restrictions in countries," a company official said, adding that the company factored in how foreign national employees will be more liable to tightened border restrictions.
The unprecedented measure comes as the airline industry is suffering from a plunge in demand due to the pandemic.
Korean Air has suspended most of its flights on international routes as an increasing number of countries close their borders or tighten entry procedures.
The company has launched an internal emergency response committee and a special task force to evaluate and respond to the crisis. It has announced that it will be cutting executives' salaries by up to 50 percent, starting in April, until business is back on track.
The company is also reportedly considering expanding the salary reduction and temporary leave to all employees.
This file photo, taken on March 24, 2020, shows Korean Air Lines Co. aircraft parked at Incheon International Airport in Incheon, just west of Seoul, amid growing fears over COVID-19. (Yonhap)
(END)


yna--2020-03-31--(LEAD) S. Korean negotiator expresses regret over planned furloughs of Korean USFK employees

`` The decision by the U.S. side to press ahead with the furloughs for our workers as planned does not @ @ @ @ @ the negotiations and we think this is regrettable , '' Jeong said .

(ATTN: CHANGES slug, headline, lead; UPDATES throughout)
By Song Sang-ho
SEOUL, March 31 (Yonhap) -- South Korea's top negotiator in defense cost-sharing talks with the United States expressed regrets Tuesday over the planned furloughs of thousands of Koreans employed by U.S. Forces Korea, calling on Washington to make efforts to enable their swift return to work.
Jeong Eun-bo also voiced expectation for the conclusion of the negotiations in the near future, stressing Seoul and Washington have "considerably" narrowed their differences over the sharing of the cost for stationing 28,500 American troops here.
The message came a day before about 4,500-5,000 workers, mostly in nonessential positions, are expected to go on unpaid leave due to a failure to reach agreement on the cost-sharing deal, called Special Measures Agreement (SMA).
"The decision by the U.S. side to press ahead with the furloughs for our workers as planned does not properly reflect the situation of the negotiations and we think this is regrettable," Jeong said.
"We urge the U.S. to take measures to ensure the workers subject to the furlough scheme can swiftly return to work," he added.
Jeong was referring to Seoul's efforts in the previous negotiations to reach a separate arrangement to first address the workers' wage issue. The U.S. rejected the efforts, saying they would hinder the overall negotiations for a comprehensive SMA.
On the outlook for the negotiations going forward, Jeong struck a positive note.
"Currently, South Korea and the U.S. are making their best efforts to conclude the negotiations, now at their last phase, in a mutually beneficial way," he said.
"Given that the countries have considerably narrowed differences, we expect the final conclusion of the negotiations in the near future," he added.
The planned furloughs have triggered concerns that they could disrupt day-to-day USFK operations and undercut the military's readiness against the backdrop of military tensions caused by Pyongyang's repeated rocket tests.
Since September last year, the two sides have held seven rounds of talks to negotiate the SMA. But they have failed to bridge gaps, particularly about the total amount of Seoul's payments for stationing the USFK.
The U.S. has revised downward its initial demand of a fivefold increase to US$5 billion. But Seoul believes the reduced amount is still unrealistically high, while it reportedly wants about a 10 percent increase from the previous year.
Last year's SMA, which called for Seoul to pay about $870 million, expired in December.
The delay in the conclusion of the negotiations has spawned criticism here that the U.S. is focusing more on the pecuniary interests of the alliance than on more strategic security interests for regional stability.
This photo, taken on March 21, 2020, shows Jeong Eun-bo, South Korea's top negotiator in the defense cost-sharing talks with the United States, speaking to the press upon arriving at Incheon International Airport, west of Seoul. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-03-31--(URGENT) S. Korean negotiator expresses regret over planned furloughs of Korean USFK employees

(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--2020-03-31--S. Korean-made coronavirus test kits to be shipped to the U.S. soon: official

`` As you know about the situation in the U.S. , they urgently need diagnostic tests and as far as @ @ @ @ @ trying to transport them as early as possible , '' the official said .

SEOUL, March 31 (Yonhap) -- South Korean-made coronavirus test kits will soon be shipped to the United States, a foreign ministry official said Tuesday.
The ministry has announced that three local test kit makers have won interim approval from the U.S. Food and Drug Administration and their products can be exported to the U.S., now a country hard hit by the COVID-19 outbreak.
"It appears that kits will be transported to the U.S. by plane soon," the official told reporters on condition of anonymity.
Kits from the three firms will be shipped first, with more expected to follow, he said.
"As you know about the situation in the U.S., they urgently need diagnostic tests and as far as we know, we're trying to transport them as early as possible," the official said.
A total of 12 Korean test kit makers have applied for pre-emergency use authorization and more companies are expected to gain the approval, given the high demand for the devices amid the urgency of the outbreak situation in the U.S., officials earlier said.
The announcement on the pre-FDA approval of Korean test kits came days after President Moon Jae-in spoke by phone with U.S. President Donald Trump and called for FDA approval of South Korean test kits. Trump asked for Korea to provide medical devices to help contain the spread of the novel virus.
A C-17 NATO aircraft on a mission to deliver relief items, including protective gear, to Romania, prepares to take off from Incheon International Airport, west of Seoul, on March 27, 2020. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-03-31--In phone summit, Bulgaria requests S. Korea's virus test kits

The leaders also expressed hope that exchanges between their countries , which mark the 30th anniversary of bilateral diplomatic ties @ @ @ @ @ more active as soon as the pandemic is brought under control .

SEOUL, March 31 (Yonhap) -- Bulgarian Prime Minister Boyko Borissov on Tuesday requested South Korea's help in the fight against the coronavirus, especially the supply of testing kits, speaking by telephone with President Moon Jae-in, Cheong Wa Dae said.
In the 15-minute conversation, made at his request, the Bulgarian leader pointed out that the world is paying heed to South Korea as an "exemplary case" in quarantine.
He then cited hikes in demand for testing in Bulgaria and said the country is in desperate need of testing kits, according to Cheong Wa Dae spokesman Kang Min-seok.
Moon replied that his government would "actively consider" ways to provide help and suggested consultations on details through the diplomatic channel, including the amount of goods, shipment schedule and transport.
South Korean President Moon Jae-in holds phone talks with Bulgarian Prime Minister Boyko Borissov at Cheong Wa Dae in Seoul on March 31, 2020, in this photo provided by Moon's office. (PHOTO NOT FOR SALE) (Yonhap)
He reaffirmed the government's plan to share its experience and knowhow on the COVID-19 response with the international community.
Borissov took note of South Korea's "technology, science, clinical data and treatment experience" as well, Kang said.
South Korea has been lauded for its relatively effective handling of the virus, highlighted by its quick and aggressive testing, tracing and treatment.
The leaders also expressed hope that exchanges between their countries, which mark the 30th anniversary of bilateral diplomatic ties this year, will get more active as soon as the pandemic is brought under control.
lcd@yna.co.kr
(END)


Yonhap News Summary

On Monday , the North Korean foreign ministry 's `` new department director general for negotiations with the U.S. '' @ @ @ @ @ of State Mike Pompeo for seeking to maintain sanctions on the North .
The unnamed @ @ @ @ @ has lost interest in dialogue and will `` go our own way . ''

The following is the second summary of major stories moved by Yonhap News Agency on Tuesday.
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(3rd LD) New cases up again on cluster, overseas infections; new school year further delayed
SEOUL -- South Korea reported a slight uptick in new cases of the novel coronavirus Tuesday, driven by a steady rise in cluster infections and imported cases.
In the face of community spread of the virus, the country again pushed back the new school year, with the introduction of online classes. The opening of kindergartens and child care centers has been delayed indefinitely.
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(3rd LD) S. Korea to begin new school year with online classes April 9 amid virus outbreak
SEOUL -- South Korea said Tuesday it will begin the new school year on April 9 with online classes for middle and high school senior students following repeated delays due to the novel coronavirus.
The unprecedented move to introduce online classes at elementary, middle and high schools nationwide will be carried out step by step, depending on grades, according to the education ministry.
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BOK minutes hint at additional rate cut
SEOUL -- The Bank of Korea (BOK) may further cut its policy rate to help minimize the economic fallout from the new coronavirus pandemic, BOK minutes showed Tuesday.
The central bank delivered a surprise rate cut in an emergency meeting of its monetary policy board held March 16, slashing the policy rate by a half percentage point to a new record low of 0.75 percent.
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(LEAD) N. Korea appears to launch new department handling negotiations with U.S.: official
SEOUL -- North Korea appears to have created a new foreign ministry department tasked with handling negotiations with the United States, a unification ministry official said Tuesday, after the bureau's new chief issued a statement blasting the U.S. the previous day.
On Monday, the North Korean foreign ministry's "new department director general for negotiations with the U.S." issued a statement criticizing Secretary of State Mike Pompeo for seeking to maintain sanctions on the North. The unnamed official also said the North has lost interest in dialogue and will "go our own way."
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S. Korea to issue message on planned furloughs of citizens working in USFK
SEOUL -- The government plans to announce its stance Tuesday on the eve of the U.S. military's planned furloughs of thousands of South Korean employees in the absence of a defense cost-sharing deal to fund their wages, a Seoul official said.
About 4,500-5,000 workers, mostly in nonessential positions, are expected to go on unpaid leave, starting Wednesday, as Seoul and Washington have yet to reconcile differences in their negotiations over the sharing of the cost for the upkeep of the 28,500-strong U.S. Forces Korea (USFK).
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BTS performs from home for U.S. TV show in time of social distancing
SEOUL -- K-pop super band BTS cheered up its fans and audiences across the world Tuesday with a special performance on a U.S. TV show, broadcast from the band's own studio in South Korea, in a time of social distancing over the COVID-19 pandemic.
The members of BTS were the penultimate artists that James Corden, the host of the CBS program "The Late Late Show with James Corden," connected with in his video calls for the special quarantine edition of the show, which aired Monday night (U.S. time) from his own garage.
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(LEAD) Seoul stocks spike over 2 pct on stimulus hopes
SEOUL -- South Korean stocks closed sharply higher Tuesday, extending earlier gains on hope for massive economic stimulus measures in major economies, such as China and the United States, to minimize the fallout from the new coronavirus outbreak. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) surged 37.52 points, or 2.19 percent, to close at 1,754.64. Trading volume was high at slightly over 1 billion shares worth 13.6 trillion won (US$11.2 billion), with gainers far outnumbering losers 782 to 108.
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Seoul church emerges as new coronavirus infection cluster, with 32 confirmed cases
SEOUL -- A total of 32 confirmed cases of the novel coronavirus have been linked with a church of a fringe Protestant sect in Seoul, authorities said Tuesday, raising concerns over cluster infection in the populous capital.
Of the total, 25 patients are followers of Manmin Central Church, located in the southwestern Seoul ward of Guro, while the remaining seven are their family members and friends, according to the Seoul metropolitan government.
(END)


yna--2020-03-31--Baseball league defends about-face on quarantining foreign players

But later that Thursday , the KBO said all foreign players who flew in from their home countries in recent @ @ @ @ @ for two weeks .
This was after the government decided to require all travelers from @ @ @ @ @ 14 days , following a spike in imported COVID-19 cases .
And public health experts @ @ @ @ @ that players who did n't come from the U.S. still should be quarantined regardless of @ @ @ @ @ the virus ' incubation period and the possibility that there may be asymptomatic carriers .

SEOUL, March 31 (Yonhap) -- The South Korean baseball league on Tuesday defended its choice to retroactively apply a tough quarantining rule on foreign players for some teams, saying the safety of fans and athletes is its top priority amid the coronavirus pandemic.
The Korea Baseball Organization (KBO) did an about-face last week, when it required foreign players who'd recently returned from overseas to self-isolate for two weeks. Previously, the KBO had said that these players had to be tested for COVID-19 immediately upon arrival, and that they would be allowed to join their clubs immediately if their results came back negative.
Jake Brigham of the Kiwoom Heroes (R) arrives at Incheon International Airport in Incheon, west of Seoul, on March 26, 2020. Trailing Brigham are his teammates Eric Jokisch (L) and Taylor Motter. (Yonhap)
Five clubs -- the Samsung Lions, the KT Wiz, the Hanwha Eagles, the LG Twins and the Kiwoom Heroes -- were subject to the new quarantining rule, put in place to prevent the spread of the coronavirus.
Those teams cried foul and demanded the league's explanation during an executive board meeting Tuesday, with all general managers on hand. Foreign players who had been in South Korea since the start of the month weren't required to self-isolate, and the five teams said it was unfair for their import players to sit for two weeks.
But Ryu Dae-hwan, KBO's secretary general, said those concerns were secondary to the efforts to contain the virus.
"Our No. 1 priority is to help fight the coronavirus," he said. "I understand some teams were taken aback by our sudden change, but it's more important for us to ensure our fans and players will not be infected."
After the end of spring training earlier this month, some foreign players chose not to travel to South Korea with the rest of their teams, as the country was struggling to contain the surge in COVID-19 cases. They instead went back to their home countries, with most returning to the United States. Roberto Ramos of the Twins went to Mexico, and Warwick Saupold headed to Australia.
But as the spread slowed here while the virus started to ravage the U.S. and other parts of the world, the players came back to Korea, one by one. For the Twins, Ramos and Tyler Wilson reported to practice last Thursday.
But later that Thursday, the KBO said all foreign players who flew in from their home countries in recent days had to stay home for two weeks. This was after the government decided to require all travelers from the U.S. to self-isolate for 14 days, following a spike in imported COVID-19 cases. And public health experts had also told the KBO that players who didn't come from the U.S. still should be quarantined regardless of their test results because of the virus' incubation period and the possibility that there may be asymptomatic carriers.
The regular season was supposed to start last Saturday but has been pushed back to late April or early May due to the virus outbreak. The KBO plans to start preseason action on April 21. Meanwhile, teams are limited to playing intrasquad games at their home parks.
This photo provided by the KT Wiz shows the Korea Baseball Organization club's three foreign players at Incheon International Airport in Incheon, west of Seoul, on March 23, 2020. From left are Odrisamer Despaigne, Mel Rojas Jr. and William Cuevas. (PHOTO NOT FOR SALE) (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-03-31--BOK minutes hint at additional rate cut

BOK minutes hint at additional rate cut

`` A rate cut itself may not be expected to promote consumption and investment by easing travel restrictions , but @ @ @ @ @ buffer the shock from a sharp drop in economic conditions by limiting the spread of @ @ @ @ @ interest burden on households and companies , '' a board member was quoted as saying @ @ @ @ @ emergency meeting in over a decade .

SEOUL, March 31 (Yonhap) -- The Bank of Korea (BOK) may further cut its policy rate to help minimize the economic fallout from the new coronavirus pandemic, BOK minutes showed Tuesday.
The central bank delivered a surprise rate cut in an emergency meeting of its monetary policy board held March 16, slashing the policy rate by a half percentage point to a new record low of 0.75 percent.
"A rate cut itself may not be expected to promote consumption and investment by easing travel restrictions, but it is expected to help buffer the shock from a sharp drop in economic conditions by limiting the spread of market uncertainties and easing the interest burden on households and companies," a board member was quoted as saying in the BOK's first emergency meeting in over a decade.
"In addition, I believe it would be desirable to maintain a flexible monetary policy in times of crisis, such as this," the board member added.
In this photo, provided by the Bank of Korea (BOK), BOK Gov. Lee Ju-yeol (C) and other members of the BOK monetary policy board hold an emergency meeting in Seoul on March 16, 2020, when the board delivered its first emergency rate cut in over a decade to help minimize the fallout from the spread of the new coronavirus. (PHOTO NOT FOR SALE) (Yonhap)
The BOK's emergency rate cut came one day after the United States Federal Reserve delivered its second emergency rate reduction in two weeks, sending its base interest rate to a target range of zero percent and 0.25 percent.
Still, the BOK's rate reduction had been widely unexpected, as the central bank had voted to keep the rate steady at its previous rate-setting meeting held on Feb. 27.
In the March 16 meeting, a second board member noted the continued spread of COVID-19 since the February meeting was beginning to have a direct impact on the real economy.
"The recent conditions in the real economy and the financial market showed that problems stemming from the COVID-19 outbreak are spreading to the entire economy from areas directly exposed to the outbreak," the board member said, according to the BOK minutes.
Another member said the fallout from the coronavirus outbreak was now expected to be bigger and to last longer than earlier anticipated.
"Also, the problem has become a global shock, instead of a regional issue, as (COVID-19) is beginning to spread in the United States and EU, the axis of global economy and finance," the BOK member said.
"We now face a situation where we must prepare for large declines in our economic growth and inflation this year, as well as a rise in liquidity risks in the short term. (The BOK) needs to take bold monetary policy steps that will do more than just provide liquidity to vulnerable sectors," the member added.
The BOK has slashed its 2020 growth outlook for the local economy to 2.1 percent from the previous 2.3 percent.
BOK Gov. Lee Ju-yeol, however, has noted the country's economic growth will likely fall short of the 2.1 percent estimate and strongly hinted at negative growth at least in the first quarter.
The BOK is set to hold another rate-setting meeting on April 9.
bdk@yna.co.kr
(END)


yna--2020-03-31--S. Korean EV battery makers' market share tops 40 pct in Feb.

Based on the global usage of their EV batteries , the combined market share of the country 's three EV @ @ @ @ @ Ltd. , Samsung SDI Co. and SK Innovation Co. -- stood at 42 percent in @ @ @ @ @ percent a year earlier , according to data from market tracker SNE Research .

SEOUL, March 31 (Yonhap) -- The combined market share of South Korea's three major electric vehicle (EV) battery producers topped 40 percent in February for the first time, industry data showed Tuesday, as electric vehicles are gaining ground in major markets.
Based on the global usage of their EV batteries, the combined market share of the country's three EV battery makers -- LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. -- stood at 42 percent in February, up from 20.9 percent a year earlier, according to data from market tracker SNE Research.
LG Chem was the second-best performer in the world with a 29.6 percent market share, and 1.7 gigawatt-hours (GWh) worth of its EV batteries was used in February, compared with 666 megawatt-hours (MWh) from a year earlier.
Samsung SDI was fifth on the list with a 6.5 percent market share after the global usage of its EV batteries rose 54.8 percent on-year to 372 MWh, while SK Innovation ranked sixth with a 5.9 percent market share with 342 MWh, the data showed.
SNE Research said Japan's Panasonic topped the list with a 34.1 percent market share, and the usage of its EV batteries increased 74 percent on-year to 1.96 GWh.
China's CATL was the No. 3 player in February with a 9.4 percent market share, and usage of its EV batteries fell 46.8 percent on-year to 544 MWh.
entropy@yna.co.kr
(END)


yna--2020-03-31--Four-time MVP in S. Korean men's basketball announces retirement

Yang was drafted first overall by the KCC Eigis in 2004 but was immediately traded to the Phoebus .
He @ @ @ @ @ with the Ulsan-based team , not counting a couple of years spent doing his mandatory @ @ @

SEOUL, March 31 (Yonhap) -- Yang Dong-geun, the most decorated player in South Korean pro basketball history, announced his retirement Tuesday, following a season disrupted by the coronavirus.
The Mobis Phoebus of the Korean Basketball League (KBL) said the veteran guard had decided to call it quits at age 38 after sitting down with his coaching staff and front office.
Yang is a four-time regular season MVP who also won three playoff MVP awards and six championships. No one has won more MVP awards or more titles than Yang in the KBL's 23-year history.
In this file photo, from Jan. 1, 2020, Yang Dong-geun of the Mobis Phoebus (R) drives to the basket against the Anyang KGC in a Korean Basketball League regular season game at Anyang Gymnasium in Anyang, about 20 kilometers south of Seoul. (Yonhap)
Yang was drafted first overall by the KCC Eigis in 2004 but was immediately traded to the Phoebus. He spent his entire 17-year career with the Ulsan-based team, not counting a couple of years spent doing his mandatory military service.
Yang averaged 11.8 points, 5.0 assists and 2.9 rebounds for his career. He won his first regular season MVP as a sophomore in the 2005-2006 season, and was honored again in 2007, 2015 and 2016.
With Yang as its floor general, the Phoebus won the title in 2007, 2010, 2013, 2014, 2015 and 2019. He was the voted the playoff MVP in 2007, 2013 and 2015.
The 2005 Rookie of the Year and a two-time assist king was also named to the All-KBL First Team nine times.
Yang had an anticlimactic ending to his illustrious career, as the KBL halted regular season play on Feb. 29 and then canceled the remainder of the season last Tuesday in the wake of the coronavirus outbreak.
No champion will be crowned this year. Yang's Phoebus were in eighth place among 10 clubs at 18-24, 2.5 games out of the sixth and final playoff spot.
In 40 games this past season, Yang averaged 10 points with 4.6 assists and 2.7 rebounds.
The Phoebus said it will have a retirement ceremony for Yang at its home opener for the 2020-2021 season, and his No. 6 will be retired.
In this file photo, from Nov. 20, 2019, Yang Dong-geun of the Mobis Phoebus (R) handles the ball against the Samsung Thunders in a Korean Basketball League regular season game at Jamsil Arena in Seoul. (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-03-31--S. Korea voices regret over Japan's decision to toughen travel curbs for Korea: official

`` We are aware of the trend related to ( the planned entry ban ) .
Japan gave a prior @ @ @ @ @ a diplomatic channel on Sunday and explained why these measures were to be taken amid @ @ @ @ @ '' a foreign ministry official said on condition of anonymity .

SEOUL, March 31 (Yonhap) -- South Korea has expressed regret over Japan's decision to ban the entry of people from South Korea and other countries and raise its travel advisory for those countries over coronavirus concerns, a foreign ministry official said Tuesday.
Earlier in the day, Tokyo raised its infectious disease warning for 49 countries, including South Korea, the United States and China, to Level 3, the second-highest level out of a four-tier scale, calling for its nationals to suspend visits to the areas.
It is also expected to announce an entry ban on foreigners coming from the 49 countries as early as Wednesday. For Korea, Japan had barred the entry of people from Daegu city and several other nearby counties that have reported cluster infections.
"We are aware of the trend related to (the planned entry ban). Japan gave a prior notice about the decision through a diplomatic channel on Sunday and explained why these measures were to be taken amid the growing infection trend," a foreign ministry official said on condition of anonymity.
"We expressed regret when the Japanese side informed us about it."
The official said that the government will take additional measures if necessary as it closely monitors the outbreak situation in Japan.
Starting Wednesday, South Korea will also require all passengers flying in from abroad to go into a two-week quarantine as part of stepped-up efforts to curb the rise in imported cases of COVID-19.
A departure board at Gimpo International Airport in western Seoul shows that flights to Japan's Haneda airport have been canceled on March 10, 2020. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-03-31--BOK's dollar selling, buying on par in Q4

The local currency dipped to as low as 1,222.2 won per dollar in August when the U.S.-China trade dispute was @ @ @ @ @ advanced to an average 1,175.57 won per dollar in the fourth quarter .

SEOUL, March 31 (Yonhap) -- South Korea's central bank said Tuesday that its selling and buying of the U.S. dollar remained on par in the fourth quarter of the year.
The Bank of Korea (BOK) said it had net sold US$3.8 billion in the first half of 2019, followed by its net selling of $2.87 billion in the third quarter.
The South Korean central bank began releasing such data in March 2019 to help boost the transparency of its market stabilization steps, as opposed to market intervention.
The local currency dipped to as low as 1,222.2 won per dollar in August when the U.S.-China trade dispute was at its peak, but advanced to an average 1,175.57 won per dollar in the fourth quarter.
bdk@yna.co.kr
(END)