yna--2020-03-31--(LEAD) N. Korea appears to launch new department handling negotiations with U.S.: official

`` Basically , the government expects that the North and the U.S. will resume negotiations as swiftly as possible with @ @ @ @ @ of denuclearization of the Korean Peninsula and establishment of permanent peace , '' he said @ @ @ @ @ , if necessary , the government will make all diplomatic efforts . ''

(ATTN: RECASTS throughout with details)
By Koh Byung-joon
SEOUL, March 31 (Yonhap) -- 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."
Speculation has since arisen that the department is newly created since it has not been mentioned in North Korean media before. The North's foreign ministry has a department exclusively handling North American affairs.
"It appears certain that the post is a newly created position," the ministry official told reporters on condition of anonymity. "It is not clear, however, whether it would replace the existing department for North American affairs or would be run independently."
Monday's statement came after Pompeo urged major countries to maintain sanctions and pressure against the North until it takes denuclearization steps during a press briefing last week.
In a telephone briefing with Yonhap News Agency and other news outlets held hours after the North's statement, Pompeo reaffirmed that international sanctions should be in place against North Korea but added that Washington looks forward to sitting down with its leadership for nuclear talks.
Nuclear talks have stalled since the no-deal summit between North Korean leader Kim Jong-un and U.S. President Donald Trump about a year ago as they failed to narrow differences over how to match Pyongyang's denuclearization steps and Washington's concessions, such as sanctions relief.
Last week, North Korea said that Trump sent a letter to its leader to offer help with the country's fight against the coronavirus, calling it "a good example showing the special and firm personal relations."
The North still cautioned against misjudging the two countries' ties based only on the personal relations of the two leaders, warning that the bilateral relations will continue to be harmed "if impartiality and balance are not provided and unilateral and greedy intention is not taken away."
The ministry official said that South Korea is ready to help North Korea and the United States resume their long-halted denuclearization talks.
"Basically, the government expects that the North and the U.S. will resume negotiations as swiftly as possible with mutual respect for the stake of denuclearization of the Korean Peninsula and establishment of permanent peace," he said. "To that end, if necessary, the government will make all diplomatic efforts."
kokobj@yna.co.kr
(END)


yna--2020-03-31--S. Korea to issue message on planned furloughs of citizens working in USFK

About 4,500-5,000 workers , mostly in nonessential positions , are expected to go on unpaid leave , starting Wednesday , @ @ @ @ @ yet to reconcile differences in their negotiations over the sharing of the cost for the @ @ @ @ @ .
Forces Korea ( USFK ) .

By Song Sang-ho
SEOUL, March 31 (Yonhap) -- 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).
Seoul's top negotiator, Jeong Eun-bo, will issue a public message amid concerns that the furloughs 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.
But Jeong may not send out the message through a press briefing, as he has been self-isolating at home since he returned to Korea after three days of the latest negotiations with his U.S. counterpart, James DeHart, in Los Angeles earlier this month.
Since September last year, the two sides have held seven rounds of talks to negotiate the cost-sharing deal, called the Special Measures Agreement (SMA). But they have failed to bridge gaps, particularly about the total amount of Seoul's payments for stationing the USFK.
The United States 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.
In the last negotiations, Seoul sought to strike a separate arrangement to first address the Korean workers' wage issue. But Washington opposed the move, saying it could further delay the overall negotiations for a comprehensive SMA.
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--Foreigners extend stock selling streak to 19th straight session

Foreigners scaled back their selling spree , however , as optimism over news of a possible cure for COVID-19 and @ @ @ @ @ globe .

SEOUL, March 31 (Yonhap) -- Foreign investors on Tuesday continued to sell local stocks for the 19th consecutive session amid the coronavirus scare, data showed, with offshore investors offloading a net 72.8 billion won (US$59.7 million) worth of local stocks.
Since March 5, foreigners have net sold a total of 11.6 trillion won in stocks. They sold a net 1.31 trillion won on March 9, marking the biggest sell-off on record.
An electronic signboard at Hana Bank in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) up 2.19 percent to close at 1,754.64 points on March 31, 2020. (Yonhap)
Despite foreigners' continued selling binge, South Korea's benchmark Korea Composite Stock Price Index (KOSPI) rose 2.19 percent to close at 1,754.64 points on Tuesday, led by strong buying by individual investors.
Foreigners scaled back their selling spree, however, as optimism over news of a possible cure for COVID-19 and massive stimulus packages around the globe.
jwc@yna.co.kr
(END)


yna--2020-03-31--(LEAD) Seoul stocks spike over 2 pct on stimulus hopes

SEOUL , March 31 ( Yonhap ) -- South Korean stocks closed sharply higher Tuesday , extending earlier gains on @ @ @ @ @ measures in major economies , such as China and the United States , to minimize @ @ @ @ @ coronavirus outbreak .
The local currency rose against the U.S. dollar .

(ATTN: ADDS bond yields at bottom; photo)
SEOUL, March 31 (Yonhap) -- 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.
The index opened sharply higher, tracking overnight gains on Wall Street.
Dealers work in the trading room of Hana Bank in Seoul on March 31, 2020. The benchmark Korea Composite Stock Price Index (KOSPI) surged 37.52 points, or 2.19 percent, to close at 1,754.64. (Yonhap)
"The New York stock market closed higher on the news that the U.S. government will come up with additional stimulus measures and efforts to develop a vaccine," said Kim Hoon-gil, an analyst at Hana Financial Investment.
"However, investors are expected to remain cautious for some time as uncertainties still remain high."
Investor sentiments were further boosted by hopes that China may soon take massive stimulus measures.
"To market investors, the key factor will certainly be the size of (China's) stimulus package," said Park Seok-jung, an analyst at Shinhan Financial Investment, noting China may be moving to hold its annual political meetings in mid-April.
"At the meetings, China is expected to declare termination of its COVID-19 outbreak, pledge its implementation of a massive economic stimulus package and highlight its role in ending the spread of the disease and boosting the global economy," Park added.
Foreign investors continued to offload local shares, dumping a net 73 billion to extend their latest selling streak to a 19th consecutive session. Institutions sold a net 291 billion won, while retail investors scooped up a net 387 billion won.
Most large caps closed in positive terrain.
Market kingpin Samsung Electronics shed 0.21 percent to 47,750 won, but top pharmaceutical firm Samsung BioLogics surged 7.11 percent to 482,000 won, with Celltrion spiking 23.78 percent to 229,000 won.
Leading automaker Hyundai Motor added 3.86 percent to 88,700 won, while its smaller affiliate Kia Motors soared 4.21 percent to 26,000 won.
The Korean won closed at 1,217.40 won per dollar, up 7 won from the previous session's close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 2.8 basis points to 1.070 percent, and the return on the benchmark five-year government bond lost 2 basis points to 1.296 percent.
bdk@yna.co.kr
(END)


yna--2020-03-31--S. Korean Bond Yields on Mar. 31, 2020

S. Korean Bond Yields on Mar. 31, 2020

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


yna--2020-04-01--Baek Heena wins 2020 Astrid Lindgren Award

The award-presenting ceremony of this year 's Astrid Lindgren Memorial Award was originally slated for June 1 in Stockholm , @ @ @ @ @ off indefinitely due to the novel coronavirus pandemic .

SEOUL, April 1 (Yonhap) -- South Korean author and illustrator Baek Heena has won the 2020 Astrid Lindgren Memorial Award, the world's largest children's book award.
"With exquisite feeling for materials, looks and gestures, Baek Heena's filmic picture books stage stories about solitude and solidarity," a jury of the award said in a statement released on its website Tuesday (Swedish time).
"In her evocative miniature worlds, cloud bread and sorbet moons, animals, bath fairies and people converge. Her work is a doorway to the marvelous: sensuous, dizzying and sharp," it said.
Baek is the first South Korean author to win the prize, established by the Swedish government in 2002 to honor the Swedish children's author Astrid Lindgren, who wrote "Pippi Longstocking" (1945).
The annual winner is given prize money of US$500,000.
This year, 240 writers from 67 countries competed for the award.
Baek, one of the most renowned picture book artists in South Korea, has published 13 books so far, including the best-selling "Cloud Bread" (2004).
The award-presenting ceremony of this year's Astrid Lindgren Memorial Award was originally slated for June 1 in Stockholm, but it has been put off indefinitely due to the novel coronavirus pandemic.
A photo of Baek Heena from the homepage of the Astrid Lindgren Memorial Award (PHOTO NOT FOR SALE) (Yonhap)
brk@yna.co.kr
(END)


yna--2020-04-01--Top 10 groups' operating profit dips 60 pct in 2019

They also took a blow from Japan 's move in July to slap export controls on chemicals vital to the @ @ @ @ @ apparent retaliation against a Seoul court 's ruling last year that ordered Japanese firms to @ @ @ @ @ forced labor .
( END )

SEOUL, April 1 (Yonhap) -- Listed units of South Korea's top 10 business groups saw their combined operating income plunge nearly 60 percent in 2019 due to a Sino-U.S. trade war and Japan's export controls, a market tracker said Wednesday.
The total operating income of 94 non-financial listed firms belonging to the family-controlled conglomerates came to 34.8 trillion won (US$28.5 billion) last year, down 59.9 percent from a year earlier, according to Infobigs, an information and data service on big business.
Samsung and seven other conglomerates suffered declines, while Hyundai Motor Group and Hyundai Heavy Industries Group registered increased operating income, said Infobigs run by Yonhap Infomax, the financial news arm of Yonhap News Agency.
The 12 listed subsidiaries of top conglomerate Samsung Group chalked up 16.2 trillion won in combined operating income last year, down a whopping 65 percent from a year ago.
In particular, operating profit of top-cap Samsung Electronics, the crown jewel of Samsung Group, nose-dived nearly 68 percent to 14.1 trillion won due to its slumping chip business and a base effect.
The combined operating income of 19 SK Group affiliates plummeted 76 percent to 6.2 trillion won, with operating income of flagship SK hynix tumbling about 90 percent to 1.98 trillion won.
LG Group saw the total operating income of its listed units tank 64 percent to 1.6 trillion won, and Lotte Group's operating profit sank 31.4 percent to 1.85 trillion won.
In contrast, Hyundai Motor Group's operating income soared 66 percent to 5.9 trillion won thanks to Hyundai Motor Co.'s switch to a profit and a 277 percent jump in operating profit of Kia Motors Corp.
The combined operating income of six Hyundai Heavy Industries Group units skyrocketed 122 percent to 245.9 billion won.
Last year, South Korean companies were hit hard by the blistering trade row between the United States and China, the world's two largest economies.
They also took a blow from Japan's move in July to slap export controls on chemicals vital to the South Korean chip industry in apparent retaliation against a Seoul court's ruling last year that ordered Japanese firms to compensate victims of their wartime forced labor.
(END)


yna--2020-04-01--Korea's exports to face more jitters on COVID-19 pandemic: finance minister

The country 's outbound shipments came to US $ 30.7 billion in the March 1-20 period , rising from $ @ @ @ @ @ period a year earlier , according to the data compiled by the Korea Customs Service @ @ @

SEOUL, April 1 (Yonhap) -- South Korea's exports may face headwinds down the road due to the economic fallout from the new coronavirus pandemic, the finance minister said Wednesday.
"In March, South Korea's outbound shipments are considered to have faced less-than-expected jitters given the current bad conditions, helped by the increased number of working days and improved shipments of chips," Finance Minister Hong Nam-ki said during a meeting with economy-related ministers.
Outbound shipments rose 10 percent in the first 20 days of March from a year earlier despite the COVID-19 pandemic.
The country's outbound shipments came to US$30.7 billion in the March 1-20 period, rising from $27.9 billion in the same period a year earlier, according to the data compiled by the Korea Customs Service last month.
The daily average for the period, however, slipped 0.4 percent on-year. The customs office noted the number of working days over the cited period came to 16 this year, compared with 14.5 last year.
The figure also slowed from the first 10 days of the month, when the country's exports expanded 20 percent, indicating exports have faced greater economic fallout from the pandemic more recently.
By segment, exports of chips advanced 20.3 percent over the period, and those of automobiles increased 13.7 percent.
colin@yna.co.kr
(END)


yna--2020-04-01--S. Korea, U.S. could announce defense cost deal as early as Wednesday: source

A local news report said the two sides reached an agreement on a five-year SMA that would govern how much @ @ @ @ @ 2020-2024 period for the upkeep of the 28,500-strong USFK .
Last year 's SMA , @ @ @ @ @ pay about $ 870 million , expired in December .

SEOUL, April 1 (Yonhap) -- South Korea and the United States could announce a defense cost-sharing agreement as early as Wednesday, a source said, as thousands of Koreans workers in the U.S. Forces Korea went on unpaid leave in the absence of a deal to fund their wages.
"In the broad scheme of things, the two sides have clearly reached the stage of putting the finishing touch on the negotiations, though various possibilities remain still open," the source told Yonhap News Agency on condition of anonymity.
"The possibility (of the announcement) cannot be ruled out," the source added, refusing to delve into other details, such as the duration of the new cost-sharing deal, called the Special Measures Agreement (SMA).
A local news report said the two sides reached an agreement on a five-year SMA that would govern how much Seoul should pay during the 2020-2024 period for the upkeep of the 28,500-strong USFK. Last year's SMA, which called for Seoul to pay about $870 million, expired in December.
A day before the furloughs of 4,500-5,000 Korean employees in the USFK, South Korea's chief negotiator Jeong Eun-bo said that Seoul and Washington have "considerably" narrowed their differences, and voiced expectation for the conclusion of the SMA talks "in the near future."
The furloughs have triggered concerns 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 struggled to meet halfway, particularly about the total amount of Seoul's payments for stationing the USFK.
Jeong Eun-bo (L), South Korea's chief negotiator in defense cost-sharing talks with the United States, poses for a photo with his U.S. counterpart, James DeHart, at their latest negotiation in Los Angeles on March 17, 2020, in this photo provided by the foreign ministry. (PHOTO NOT FOR SALE) (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-04-01--(EDITORIAL from Korea JoongAng Daily on April 1)

Regrettably , the Moon Jae-in administration has failed to react to the challenge effectively because it is engrossed with winning @ @ @ @ @ , as seen in its massive cash handouts to the people in the name of @ @ @ @ @ decided to dole out 1 million won ( $ 820 ) to each family of @ @ @ @ @ percent of incomes , but it still keeps dilly-dallying over setting the standards for payments @ @ @ @ @ 's spending , the opposition United Future Party has come up with a 240 trillion @ @ @ @ @ The Moon administration even talks about drawing up a second — and third — supplementary @ @ @ @ @ supplementary budget is spent .

Preparing for the future
The Korean economy has been nose-diving since the coronavirus outbreak. According to Statistics Korea, our industrial production decreased 3.5 percent in February compared to the previous month, while facilities investment and consumption declined 4.8 percent and 6.0 percent, respectively, as a result of ruptures in global supply networks and increasing social distancing among the public. The business survey index (BSI), a barometer of the future of an economy, fell precipitously in March, signaling a tumultuous future for our economy.
Regrettably, the Moon Jae-in administration has failed to react to the challenge effectively because it is engrossed with winning the April 15 parliamentary elections, as seen in its massive cash handouts to the people in the name of disaster relief. The government decided to dole out 1 million won ($820) to each family of four in the bottom 70 percent of incomes, but it still keeps dilly-dallying over setting the standards for payments. Reacting to the government's spending, the opposition United Future Party has come up with a 240 trillion won emergency aid package. The Moon administration even talks about drawing up a second — and third — supplementary budget even before the first supplementary budget is spent.
Short-term solutions are important, but a responsible government must prepare for a post-coronavirus era. If it expects the economy to rebound thanks to a recovery in demand once the outbreak is over, that's a big mistake. Even if the economy bounces back, it will most likely be a weak upturn. Or worse, it could fall into a double-dip recession or turn to an L-shaped decline due to seismic shifts in the world's industrial structure.
The future of travel, airlines, hotels and restaurants, which have been hit hard by the outbreak, is not bright either. And yet, the government does not discuss this inevitable and alarming change in the global economy.
To make matters worse, our fiscal condition is deteriorating due to unavoidable reductions in corporate and income taxes in the aftermath of the outbreak. There is no other solution than creating a good environment for entrepreneurs to do business and stimulate investment.
The government must immediately scrap its ill-conceived economic policies such as hikes in the minimum wage and the uniform application of a 52-hour workweek. If companies cannot survive, the economy cannot stand on its own feet. We urge Moon to be briefed by the deputy prime minister for economic affairs about his plans for rebuilding a post-coronavirus economy and present a blueprint to the people before it's too late.
(END)


yna--2020-04-01--(EDITORIAL from Korea Times on April 1)

(EDITORIAL from Korea Times on April 1)

There was also public uproar over a Korean woman and her mother , living in Gangnam-gu , Seoul , who @ @ @ @ @ Jeju Island despite showing symptoms .
The daughter recently returned home from the U.S. , @ @ @ @ @ ignoring the two-week quarantine rules .
In another case , a man with Polish nationality @ @ @ @ @ Yongsan-gu , Seoul , is also facing punishment for visiting public places although he had @ @ @ @ @ quarantine after one of his friends he contacted tested positive for the virus .
The @ @ @ @ @ later and was hospitalized .

Zero tolerance
Violators of quarantine rules threaten public health
South Korea will enforce a two-week mandatory quarantine for all people entering the country from Wednesday, except for those visiting for diplomatic and government affairs.
This will serve as a de facto entry ban for foreigners. It cannot come at a worse time for the country's struggling tourism, hotel and other businesses, but the measure is surely necessary considering a steady inflow of COVID-19 cases from abroad.
The government has already implemented mandatory virus tests and two-week quarantine for all entrants from Europe and the United States. But from Wednesday, the measures will be expanded to all visitors from overseas, regardless of their nationality or departure place. Visitors without local addresses here will be required to stay in government-designated facilities for two weeks at their own expense.
The compulsory quarantine measure, if carried out as planned, will help the country contain the spread of the coronavirus. To have the desired effect, however, it is important to deal sternly with violators of the quarantine rules. Under the current law, those violating quarantine rules or obstructing quarantine efforts may face up to 1 year in prison and fines of up to 10 million won (US$8,200). Additionally, foreign violators could face deportation.
The reason the government should implement a "zero-tolerance" policy for any violators is quite clear. As President Moon Jae-in stated at a weekly Cabinet meeting, Tuesday, "a small hole can break a dam." Any violator can be a potential risk to the safety of our community, so there should be resolute and strong legal measures against them, regardless of their nationality.
In fact, there have been reports about some worrisome cases of quarantine rule violation. A British national resident, after returning from a trip to Thailand, may face deportation for traveling by bike and visiting an indoor golf range although he was required to isolate himself until the test results were determined. He eventually tested positive and was hospitalized.
There was also public uproar over a Korean woman and her mother, living in Gangnam-gu, Seoul, who tested positive after travelling to Jeju Island despite showing symptoms. The daughter recently returned home from the U.S., but travelled to Jeju, ignoring the two-week quarantine rules. In another case, a man with Polish nationality, who is living in Yongsan-gu, Seoul, is also facing punishment for visiting public places although he had been placed under a two-week quarantine after one of his friends he contacted tested positive for the virus. The Polish man also tested positive later and was hospitalized.
As of Tuesday morning, the country reported 518 imported COVID-19 cases, which account for 5.3 percent of 9,786 infections in total. The portion has increased gradually recently, posing a major threat to public health here. The mandatory quarantine measure may not be enough to prevent an inflow of infections. The government should introduce even tougher travel restrictions, if necessary.
(END)


yna--2020-04-01--(EDITORIAL from Korea Herald on April 1)

Under the plan , 1 million won ( $ 820 ) would be doled out to each household with four @ @ @ @ @ middle- and low-income range , with the payment being scaled down gradually for households with @ @ @ @ @

Relief money
Caution needed to preserve fiscal room to cope with full range of virus-caused difficulties
In its latest measure to cushion the impact of the novel coronavirus crisis, President Moon Jae-in's administration on Monday decided to grant what it called emergency disaster relief money to households in the bottom 70 percent income bracket.
A total of 14 million households that comprise 35 million people in a country with a population of 51 million are expected to benefit from the relief program.
Under the plan, 1 million won ($820) would be doled out to each household with four or more members in the middle- and low-income range, with the payment being scaled down gradually for households with three or less members.
Unveiling the relief scheme during a third meeting of the emergency economic council, Moon said that people deserve "compensation" for their difficulties observing the social distancing guideline and other quarantine steps.
According to estimates from the Ministry of Economy and Finance, it will cost 9.1 trillion won to finance the program. Finance Minister Hong Nam-ki, who doubles as deputy prime minister for economic affairs, told reporters after the council meeting that the government would draw up an extra budget worth 7.1 trillion won to help fund it.
Critics note the relief package goes against the principle of using limited financial resources in the most efficient way based on economic logic.
The Finance Ministry initially proposed doling out the relief money to households whose income stands at or below the median income. The number of households in this income bracket is about 10 million.
But the ruling Democratic Party of Korea and presidential aides pressured the ministry into expanding the scope of recipients to include households that earn between 100 percent and 150 percent of the median income.
Households earning more than the median income will most likely refrain from spending more than essential expenditures amid growing concerns over the prolonged economic slump.
The government plans to provide the relief aid in the form of shopping coupons and gift certificates instead of cash, intent to stimulate consumption spending. But this would still lead most middle-income families to reduce the expenditure they might otherwise have made.
It is more desirable to provide a larger sum of relief money to those left more vulnerable to the economic impact of the coronavirus pandemic, including small business owners and nonregular and daily workers. Concentrating financial support on low-income households would be more effective in helping boost the economy by promoting consumption spending.
The ruling party and the presidential office apparently hoped that expanding the scope of beneficiaries from the relief package would help forge more favorable voter sentiment ahead of the April 15 general election. President Moon said Monday his government would submit the proposed extra budget bill to the parliament shortly after the election.
What is worrying is that massive spending under the Moon government may hurt the country's long-term fiscal soundness.
The envisioned extra budget comes just two weeks after the National Assembly passed an 11.7 trillion-won supplementary budget aimed at helping fight the spreading coronavirus and minimizing its negative impact on the economy.
Finance Minister Hong said a large part of the proposed extra budget would be funded by readjusting existing fiscal spending plans, but he still conceded it might be necessary to issue more state bonds.
The government has already decided to issue 60 trillion won worth of state bonds to help finance the regular budget for 2020 set at 512 trillion won and sell another 10.3 trillion won worth of state bonds to cover the supplementary budget approved by the parliament last month.
Korea's national debt is estimated to reach a record high of 820 trillion won this year, with its proportion of the country's gross domestic product exceeding 40 percent -- a level that has been considered a "psychological Maginot Line."
It is certainly important and necessary to expand government spending to help people go through increasing hardships caused by the coronavirus outbreak. Still, caution needs to be taken to preserve fiscal room to cope with massive unemployment, liquidity crunches and other challenges that will face the nation down the road.
The sharp rise in the national debt-to-GDP ratio could lead global rating agencies to lower the country's sovereign credit rating. Massive issuance of state bonds might result in reducing demand for corporate bonds.
Bolder and more serious consideration should be given to readjusting spending items of the regular budget, which includes 180 trillion won in welfare expenditure, to secure anti-virus funding without resorting to issuing more debt.
(END)


yna--2020-04-01--Top headlines in major S. Korean newspapers

Korean-language dailies -- Elementary , middle , high schools to open on April 9 with online classes ; CSAT pushed back 2 weeks to Dec. 3 ( Kyunghyang Shinmun ) -- Schools , teachers , families not prepared for online classes ( Kookmin Daily ) -- Schools to open April 9 with online classes ; CSAT postponed 2 weeks to Dec. ( Donga llbo ) -- S. Korea , U.S. to reach agreement on defense cost-sharing as early as today ( Seoul Shinmun ) -- Chaos in education with online classes , CSAT in Dec. ( Segye Times ) -- @ @ @ @ @ @ @ companies saw operating profits halved last year ( Chosun Ilbo ) -- In unprecedented move , high school , middle school seniors to begin academic year on April 9 at home ( JoongAng Ilbo ) -- Education system faces test with unprecedented online classes on horizon ( Hankyoreh ) -- Schools to open on April 9 with online classes ( Hankook Ilbo ) -- Schools to open on April 9 with online classes for high school , middle school seniors ( Maeil Business Newspaper ) -- Bank of Korea secures new channel for @ @ @ @ @ @ @ )

SEOUL, April 1 (Yonhap) -- The following are the top headlines in major South Korean newspapers on April 1.
Korean-language dailies
-- Elementary, middle, high schools to open on April 9 with online classes; CSAT pushed back 2 weeks to Dec. 3 (Kyunghyang Shinmun)
-- Schools, teachers, families not prepared for online classes (Kookmin Daily)
-- Schools to open April 9 with online classes; CSAT postponed 2 weeks to Dec. (Donga llbo)
-- S. Korea, U.S. to reach agreement on defense cost-sharing as early as today (Seoul Shinmun)
-- Chaos in education with online classes, CSAT in Dec. (Segye Times)
-- Even before coronavirus, top-50 S. Korean companies saw operating profits halved last year (Chosun Ilbo)
-- In unprecedented move, high school, middle school seniors to begin academic year on April 9 at home (JoongAng Ilbo)
-- Education system faces test with unprecedented online classes on horizon (Hankyoreh)
-- Schools to open on April 9 with online classes (Hankook Ilbo)
-- Schools to open on April 9 with online classes for high school, middle school seniors (Maeil Business Newspaper)
-- Bank of Korea secures new channel for dollars through Fed (Korea Economic Daily)
English-language dailies
-- Online classes to start on April 9 (Korea JoongAng Daily)
-- Virus forces schools to go virtual, but many are still unprepared (Korea Herald)
-- Schools to start 'online' semester on April 9 (Korea Times)
(END)


yna--2020-04-01--USFK begins indefinite furloughs for Korean employees over stalled cost-sharing talks

The furlough has also drawn criticism that Washington is risking the livelihoods of South Koreans who have worked many years @ @ @ @ @ sake of its own financial interests and to pressure its ally in the defense cost @ @

By Oh Seok-min
SEOUL, April 1 (Yonhap) -- Thousands of South Koreans working for the U.S. Forces Korea (USFK) were furloughed indefinitely starting Wednesday amid a deadlock in defense cost-sharing negotiations between the two countries, sparking concerns over the possible impact on Korea's readiness posture.
The furlough has also drawn criticism that Washington is risking the livelihoods of South Koreans who have worked many years for the USFK for the sake of its own financial interests and to pressure its ally in the defense cost talks.
South Korea and the U.S. have failed to bridge differences over a new Special Measures Agreement (SMA) that stipulates how much Seoul would pay for the upkeep of the 28,500-strong USFK.
"Just as the U.S. has long said, the furloughs begin on April 1 as planned," a USFK official said.
Around half of about 9,000 workers whose salaries are covered by the agreement will be affected, he added.
The U.S. Department of the Army notified the USFK workers subject to the unpaid leave last week, saying, "You were reached for furloughs as there were no remaining funded positions in your competitive area to which you have a placement right."
It added the furlough would be in effect until further notice.
Those who continue to work in areas of life, health, safety and other essential services will get paid by the U.S. government, as the Pentagon earlier pledged.
Choe Ung-sik, head of the labor union of South Korean employees for the U.S. Forces Korea, has his head shaved in protest over potential furloughs during a rally in Seoul on March 20, 2020. (Yonhap)
"The USFK community relies heavily on our installations for quality of life services, and the potential furlough will have more than just a negative impact on military operations and readiness," USFK Commander Gen. Robert Abrams said during a town hall with its population in late February.
The impact may be worse as installation services have already been partially halted and soldiers' off-installation travel has been restricted due to the COVID-19 virus.
During the latest and seventh round of talks last month, South Korea proposed concluding a separate agreement to first address the wage issue, but the United States rejected the idea over concerns that such a move could further delay a comprehensive deal, Seoul's top negotiator Jeong Eun-bo has said.
Critics said the U.S. has been using the issue as leverage in the negotiations.
On Tuesday, Jeong expressed regrets over the furloughs, and called on Washington to strive for their swift return to work.
The negotiator then noted, "Given that the countries have considerably narrowed differences, we expect the final conclusion of the negotiations in the near future."
The U.S. reportedly has demanded a hefty increase in Seoul's financial contribution, while Seoul appears to have expressed its willingness to pay more than its earlier proposal of an approximate 10 percent increase.
The previous one-year SMA expired at the end of 2019. Under the deal, South Korea agreed on a 8.2 percent increase.
Seoul's top negotiator Jeong Eun-bo (L) and his U.S. counterpart, James DeHart, pose for a photo prior to the start of their two-day negotiations in Los Angeles on March 17, 2020, in this photo provided by the foreign ministry. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-04-01--Korean Air suspends flights between Incheon, Washington

The suspensions follow an increase in U.S. states ordering residents to stay at home and incoming travelers to self-quarantine to @ @ @ @ @ , which will likely reduce demand for travel , according to the airline .

WASHINGTON, March 31 (Yonhap) -- Korean Air is suspending flights between Incheon and Washington from April 13 through May 31 due to the impact of the coronavirus, airline officials said Tuesday.
Korean Air flies between the two cities on Wednesdays, Fridays and Sundays, and will continue to do so through April 12 before temporarily suspending the flights, according to the officials.
Other U.S. cities subject to the same action include Boston, Dallas, Seattle, Las Vegas and Honolulu. In Canada, flights to Toronto and Vancouver will be suspended.
Meanwhile, flights to Los Angeles, New York, San Francisco, Chicago and Atlanta will continue, the officials added.
The suspensions follow an increase in U.S. states ordering residents to stay at home and incoming travelers to self-quarantine to contain the spread of COVID-19, which will likely reduce demand for travel, according to the airline.
This file photo shows Korean Air aircraft at Incheon International Airport, west of Seoul. (Yonhap)
hague@yna.co.kr
(END)


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yna--2020-03-31--(2nd LD) Major hospital in Seoul on alert after 9-year-old tests positive for coronavirus

Meanwhile , the Uijeongbu hospital , where 10 cases have been reported , is scheduled to close from 8 a.m. @ @ @ @ @ if no additional cases are reported .
The hospital will continue to treat in-patients .

(ATTN: UPDATES 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 10 cases have been reported, is scheduled to close from 8 a.m. Wednesday and reopen on Monday if no additional cases are reported. 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--(4th LD) New cases up again on cluster, overseas infections; new school year further delayed

`` We believe the number of short-term foreign visitors will go down if we enforce a two-week mandatory quarantine , @ @ @ @ @ Ganglip said at a press briefing .
`` We will utilize quarantine facilities with 1,600 @ @ @ @ @ but we can provide more rooms depending on the situation . ''

(ATTN: ADDS details in para 5)
SEOUL, March 31 (Yonhap) -- 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.
The 125 new cases, which were detected Monday and up from 78 new cases a day earlier, brought the nation's total infections to 9,786, according to the Korea Centers for Disease Control and Prevention (KCDC).
The KCDC said the country's death toll rose by five to 163, with more than half of fatalities being patients aged 80 or older. The number of patients in critical condition was 51.
Two more deaths were reported, in the southeastern cities of Andong and Ulsan, on Tuesday but have yet to be added to the official tally. Both patients had underlying illnesses.
Health workers in protective suits enter Keimyung University Dongsan Hospital in Daegu on March 31, 2020. (Yonhap)
Of the 125 new cases of COVID-19, 60 were in Daegu, the epicenter of the virus outbreak here, following mass infections at a hospital. The total number of cases reported in Daegu and the surrounding North Gyeongsang Province reached 6,684 and 1,300, respectively.
Other major provinces and cities also reported infections, with 24 additional cases in Seoul after more confirmed cases were reported at a church that already had over 20 cases. Gyeonggi Province identified 13 new infections following cluster transmission reported at a hospital. Incheon, a port city just west of Seoul, added six new cases.
The country also detected 15 cases coming from overseas at quarantine checkpoints, up from 12 cases reported the previous day, raising the country's total number of imported cases to 518.
Of the 518 imported virus cases, only 42 were foreign nationals, according to the KCDC.
To better contain imported cases, South Korea will enforce a two-week mandatory quarantine on all entrants from overseas, starting Wednesday.
Under the new measure, all arrivals to the country regardless of nationality are required to stay in isolation for 14 days. Visitors without local addresses are to stay in government-designated facilities at their own expense.
"We believe the number of short-term foreign visitors will go down if we enforce a two-week mandatory quarantine," Vice Health Minister Kim Ganglip said at a press briefing. "We will utilize quarantine facilities with 1,600 rooms to accommodate arrivals, but we can provide more rooms depending on the situation."
This photo, taken March 31, 2020, shows a drive-thru coronavirus testing clinic in Seoul. (Yonhap)
Kim said around 530 South Koreans who are to be airlifted from virus-hit Italy will also be isolated for two weeks after they arrive here Wednesday and Thursday.
He added that the government will enforce stern legal measures against those who breach quarantine rules, adding that authorities will not show leniency.
Amid persistent concerns over infections in communities, the education ministry announced that the new school year for middle and high school senior students will start with online classes on April 9.
The new academic year here usually starts in early March, but the country had already postponed it three times over the spread of COVID-19.
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 ministry.
South Korea has been pushing for an extensive 15-day social distancing campaign since March 22 to stem small-scale cluster infections.
Citizens are strongly urged to stay home, except for essential needs or jobs. The government has also strongly recommended people suspend religious gatherings, indoor sports activities, and visits to nightclubs and other entertainment venues.
"If we ease our social distancing campaign, there is a high possibility that the virus could spread rapidly in the country again," Kim said.
Entrants from Europe who have no COVID-19 symptoms board a bus bound for the KTX station in Gwangmyeong, south of Seoul, at the second terminal of Incheon International Airport, west of Seoul, on March 29, 2020. (Yonhap)
The KCDC said 5,408 patients have recovered as of Tuesday, up from 5,228 the previous day, and 4,216 are receiving treatment, slightly down from 4,275 the previous day.
Health authorities said they are preparing to release COVID-19 treatment guidelines using blood plasma from those who have recovered.
A total of 383,886 people have tested negative for the virus out of 410,564 people tested since Jan. 3. The virus was first detected in the country on Jan. 20.
Meanwhile, to help minimize the economic fallout from the spread of the new coronavirus, South Korea said Monday it will push for a second extra budget worth 7.1 trillion won (US$5.8 billion) to provide shopping coupons and certificates to households.
The government also decided to set aside 9.1 trillion won for the relief package for 14 million low-income households that comprise 35 million people in a country with a population of 51 million.
Under the plan, 1 million won would be given to each household with four or more people that rank in the bottom 70 percent of income earners.
kdon@yna.co.kr
(END)


yna--2020-04-01--(5th LD) New infections again on slide, but cluster, imported cases still on rise

The KCDC said the death toll rose by three to 165 .
Four more deaths were reported later in the @ @ @ @ @ of Daegu , Gyeongsan , and Bonghwa , but have yet to be added to @ @ @ @ @ .
The latest fatality involved a man in his 40s who had no underlying health @ @ @ @ @ .

(ATTN: UPDATES death toll in 3rd para)
SEOUL, April 1 (Yonhap) -- South Korea saw a slight decline in new coronavirus cases Wednesday, but cluster infections in Seoul and the surrounding area and imported cases continued to emerge.
The 101 new cases of COVID-19, detected Tuesday and down from 125 new cases a day earlier, brought the country's total cases to 9,887 and marked the 20th consecutive day that new infections have hovered around 100 or fewer additional cases, according to the Korea Centers for Disease Control and Prevention (KCDC).
The KCDC said the death toll rose by three to 165. Four more deaths were reported later in the day in the southeastern cities of Daegu, Gyeongsan, and Bonghwa, but have yet to be added to the KCDC's official tally. The latest fatality involved a man in his 40s who had no underlying health issues, health authorities said.
Medical workers stand by at a makeshift clinic in a parking lot of a hospital in Uijeongbu, northeast of Seoul, to wait for testing of the COVID-19 virus on April 1, 2020, after an 82-year-old patient on the hospital's eighth floor tested positive for the new coronavirus. (Yonhap)
A total of 52 additional cases were reported in Seoul and the surrounding region that includes Gyeonggi Province and the western port city of Incheon, bringing the total to 1,042, it said.
The number of daily new cases in the metropolitan area had so far hovered between 20 and 40. It breached 50 for the first time Wednesday, mainly due to mass cluster infection cases at major general hospitals and churches, the KCDC said.
Seoul reported 24 new cases, bringing the total to 474, partly due to a cluster infection at a church in the Guro district that has emerged as a new hotspot of cluster infections in the capital city.
Eight more people were newly confirmed as COVID-19 patients from the church, bringing the total number to 41, the KCDC said.
Meanwhile, all of some 500 people, including medical staff and patients, who had contact with a 9-year-old girl hospitalized at Asan Medical Center tested negative for the virus.
The girl, who was being treated for non-respiratory symptoms in a single-bed room, tested positive for the coronavirus Tuesday, raising alert over possible transmissions at one of the biggest hospitals in the country.
Still, the KCDC said medical staff members and the patient's parents have been put under self-isolation with another 43 patients at the hospital under cohort isolation.
Cohort isolation is the separating of a group of patients with the same infectious disease from others.
The cohort isolation comes as there have been several cases of patients testing positive for the new strain of virus after fully recovering and being released from quarantine, according to KCDC Director-General Jeong Eun-kyeong.
Gyeonggi Province reported 23 additional COVID-19 cases after a total of 13 people, up six from a day earlier, tested positive for the virus at Uijeongbu St. Mary's Hospital.
Daegu and North Gyeongsang Province, the nation's two worst-affected regions, reported 20 and two new cases, respectively, the KCDC said.
The KCDC said 35 percent of the newly confirmed COVID-19 cases over the past two weeks are from overseas, with another 34.9 percent from hospitals and nursing hospitals.
"An average of less than 10,000 people have entered the country every day since March 22 when quarantine measures were strengthened against foreign arrivals," Jeong said. The number of foreigners entering the country for a short-term visit is expected to dramatically decrease in the future.
The country also detected seven additional cases coming from overseas at quarantine checkpoints on Wednesday, raising the country's total number of imported cases to 560.
Starting Wednesday, all new arrivals to the country are placed in self-quarantine for two weeks as it struggles to stem a rise in new coronavirus cases coming from abroad.
The pediatric emergency center of Asan Medical Center in Seoul is closed on April 1, 2020, as a 9-year-old girl hospitalized there tested positive for the coronavirus the previous day, raising alarm over possible transmissions at one of the biggest hospitals in South Korea. (Yonhap)
"Starting today, all entrants from overseas are subject to a two-week quarantine measure," Vice Health Minister Kim Ganglip said at a press briefing. "Authorities will focus on thoroughly monitoring all quarantined entrants starting from airports to homes and other facilities to block imported COVID-19 cases."
The KCDC said the number of people entering the country shrank by 93 percent during the last week of March, compared with the first week of the same month.
Around 800,000 people entered the country during the first week, compared with 50,000 people during last week. Over 70 percent of them were South Korean nationals.
Those that do not have a place of residence here will be charged around 100,000 won (US$82) per day for using public facilities.
In addition, all people in isolation must install a mobile app that allows authorities to monitor them in real time and ensure they are following the rules. They will also be able to report their condition via the app.
"All foreigners entering the country for a short-term visit must self-isolate for 14 days except for those visiting for national interests or public interests who will be faced with active monitoring," Jeong said.
South Korea has already been enforcing both a two-week quarantine period and virus tests for all long-term arrivals from Europe, regardless of symptoms. Entrants from the United States have also been required to self-isolate at home for two weeks.
In the face of community spread of the virus, the country on Tuesday 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.
The KCDC said 159 more people were fully recovered and released from quarantine, bringing the number of the total cured people to 5,567.
As of Tuesday 4,155 are receiving treatment, down from 4,216 the previous day, according to the KCDC.
The virus was first detected in the country on Jan. 20, it said.
khj@yna.co.kr
(END)


yna--2020-04-01--(LEAD) S. Korea voices regret over Japan's entry ban

`` It 's regrettable that the Japanese government decided to impose an entry ban on travelers from all parts of @ @ @ @ @ country is showing clear signs of improvement with the daily number of new coronavirus cases @ @ @ @ @ a foreign ministry official said on condition of anonymity .

(ATTN: CHANGES headline, lead; ADDS details throughout; FIXES info at bottom)
SEOUL, April 1 (Yonhap) -- South Korea expressed regret Wednesday over Japan's decision to ban the entry of people from the country to prevent the spread of the novel coronavirus.
Earlier in the day, Japanese Prime Minister Shinzo Abe announced an entry ban on foreigners coming from 49 countries and territories, including South Korea, China and the United States.
Under the new measure, to be effective from Friday to the end of this month, those who had been staying in the designated places for two weeks will not be allowed to enter Japan.
This photo, taken on March 30, 2020, shows a departures board at Incheon International Airport in Incheon, west of Seoul. (Yonhap)
"It's regrettable that the Japanese government decided to impose an entry ban on travelers from all parts of South Korea even though our country is showing clear signs of improvement with the daily number of new coronavirus cases on steady decline," a foreign ministry official said on condition of anonymity.
"Japan gave prior notice about the decision through a diplomatic channel on Sunday and we also expressed our regret then over its decision."
Japan already barred those arriving from South Korea's southeastern city of Daegu and several nearby counties that have reported large numbers of COVID-19 infections.
On Tuesday, Tokyo raised its travel warning for the 49 countries to Level 3, the second-highest level on a four-tier scale, calling for its nationals to suspend visits to those destinations.
kdon@yna.co.kr
(END)


yna--2020-04-01--Two more Samsung workers contract coronavirus after overseas business trips

Samsung said there will be no shutdown of its plants , since the two had been under self-quarantine after they @ @ @ @ @ did not visit any business facilities .

SEOUL, April 1 (Yonhap) -- Samsung Electronics Co. said Wednesday two more employees have contracted the novel coronavirus following overseas business trips.
The company said two employees who work at its factory in Gumi, North Gyeongsang Province, tested positive for COVID-19 after they went to Brazil.
The two, who work for its mobile business unit, departed for Brazil together in early February and arrived back in South Korea on Monday.
Samsung said there will be no shutdown of its plants, since the two had been under self-quarantine after they returned home from Brazil and did not visit any business facilities.
In this photo provided by Gumi city government on March 26, 2020, Samsung Electronics employees receive virus tests at the company's factory in Gumi, North Gyeongsang Province. (PHOTO NOT FOR SALE) (Yonhap)
The South Korean tech titan had already reported employees diagnosed with COVID-19 following overseas business trips, although they have not affected the company's operations.
In recent weeks, Samsung said one employee tested positive for COVID-19 after returning from Brazil, while another worker contracted the virus following a business trip to Europe.
Samsung said neither case is related with the other COVID-19 infections reported at its domestic production sites.
Samsung also reported a virus-infected worker at its chip plant in Austin, Texas, over the weekend, but said that its production has not been affected.
kdon@yna.co.kr
(END)


yna--2020-04-01--S. Korea calls for Japan to exempt essential business travel from planned entry ban

In the videoconference , Kim also urged Japan to deliver on its earlier pledge to take steps to enable the @ @ @ @ @ brought `` against their will and forced to work under harsh conditions '' in the @ @ @ @ @ Meiji-era industrial facilities that were designated in 2015 as UNESCO World Heritage sites .

SEOUL, April 1 (Yonhap) -- South Korea called Wednesday for Japan to allow essential visits by businesspeople, the foreign ministry said, as Tokyo was set to tighten entry restrictions to stem the spread of the new coronavirus.
Kim Jung-han, director-general for Asian and Pacific affairs at the ministry, made the call during a videoconference with his Japanese counterpart, Shigeki Takizaki, as Tokyo was set to enforce an entry ban on foreigners from an additional 49 countries and territories, including South Korea and the United States, starting Friday.
"Director-General Kim mentioned the need to strike a balance to enable visits for humanitarian purposes and essential visits by our businesspeople, despite the strengthened anti-infection measures," the ministry said in a press release.
The two sides explained their governments' anti-virus efforts and shared understanding on the importance of their close communication and cooperation in fighting the COVID-19 pandemic.
In the videoconference, Kim also urged Japan to deliver on its earlier pledge to take steps to enable the understanding that many Koreans were brought "against their will and forced to work under harsh conditions" in the 1940s at some of its Meiji-era industrial facilities that were designated in 2015 as UNESCO World Heritage sites.
Kim's request came amid reports that Tokyo opened an information center at those facilities on Tuesday, but did not reveal the forcible mobilization of workers from Korea, during its 1910-45 colonization of the country.
The designated sites include those on the notorious Hashima Island, where many Koreans were forced into labor -- a reason why there was fierce public opposition in South Korea to the designation.
Upon the heritage designation, the World Heritage Committee called for Japan to prepare an interpretive strategy that allows an understanding of the "full history of each site." Tokyo then agreed to take such steps as remembering the victims by establishing an information center.
This photo, taken on July 11, 2019, shows Kim Jung-han, director-general for Asian and Pacific affairs at the foreign ministry, preparing to depart for Tokyo from Gimpo International Airport, western Seoul. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-04-01--Listed firms' net profits more than halve in 2019: data

The results may be attributable to the trade war between the United States and China last year , analysts said @ @ @ @ @ in the semiconductor industry that has been a major revenue source for large companies , @ @ @ @ @

SEOUL, April 1 (Yonhap) -- The net profits of South Korean firms listed on the country's main stock exchange more than halved last year, the bourse operator said Wednesday.
The combined net profit of 583 KOSPI-listed companies, excluding financial firms, came to 52.42 trillion won (US$42.5 billion) in 2019 on a consolidated basis, down 52.82 percent from a year ago, according to the Korea Exchange (KRX).
The combined annual sales rose 0.47 percent on-year to stand at 2,006.45 trillion won in 2019, but operating profits plunged 37.04 percent to 102.28 trillion won, it added.
The results may be attributable to the trade war between the United States and China last year, analysts said, coupled with a slump in the semiconductor industry that has been a major revenue source for large companies, like Samsung Electronics Co.
"Global trade struggled following the prolonged dispute between the United States and China," Cho Seung-bin, an analyst at Daishin Securities, said. "As South Korea's exports declined, major listed firms also suffered."
This photo taken on Jan. 1, 2020, shows containers at a port in Busan. (Yonhap)
Top cap Samsung Electronics saw its net profit tumble 50.98 percent on-year to 21.7 trillion won last year, while No. 2 chipmaker SK hynix Inc. reported a whopping 87.02 percent decline in net profit after posting only 2.1 trillion won in 2019.
Excluding Samsung Electronics, the listed firms posted 30.7 trillion won in net profit in 2019, down 54.04 percent from a year earlier, while their operating profits slid 28.02 percent on-year to 74.2 trillion won, the data showed.
The KRX said 416 firms, or 71.36 percent of the total, were in the black last year, while the remainder posted net losses. It added that a total of 72 firms swung to the red last year.
Companies in the textile, construction, transportation, machinery, steel and pharmaceutical industries saw increases in their net profits last year, according to the data.
The secondary KOSDAQ-listed firms had relatively better performances last year, according to the KRX.
The combined net profit of 946 KOSDAQ-listed companies, excluding financial firms, decreased 10.47 percent on-year to 4.1 trillion won in 2019. However, their operating profits rose 4.63 percent on-year to 9.2 trillion won, while their sales increased 8.39 percent on-year to 181.5 trillion won last year.
The KRX data showed that 597 firms, or 63.11 percent of the total, on the KOSDAQ bourse were in the black last year.
kdon@yna.co.kr
(END)


yna--2020-04-01--Japan bans entry of travelers from S. Korea, other countries, over coronavirus

Under the new measure , those who had been staying in the designated places for two weeks will not be @ @ @ @ @

TOKYO, April 1 (Yonhap) -- Japanese Prime Minister Shinzo Abe on Wednesday announced an entry ban on foreigners coming from 49 countries and territories, including South Korea, China and the United States, in its latest move to stem the novel coronavirus outbreak.
Under the new measure, those who had been staying in the designated places for two weeks will not be allowed to enter Japan.
This photo, taken on March 30, 2020, shows a departures board at Incheon International Airport in Incheon, west of Seoul. (Yonhap)
Japan previously barred the entry of people from the southeastern city of Daegu and several nearby counties that have reported large numbers of COVID-19 infections.
On Monday, Tokyo raised its travel warning for the 49 countries to Level 3, the second-highest level on a four-tier scale, calling for its nationals to suspend visits to those destinations.
South Korea on Monday expressed regret over the travel restriction.
kdon@yna.co.kr
(END)


yna--2020-04-01--S. Korean sees record-low air passenger number in March amid coronavirus pandemic

The number of air passengers stood at 1.74 million in March , according to data from the Korea Civil Aviation @ @ @ @ @ This is the first time that the figure has fallen below 2 million since the @ @ @ @ @ statistics from 1997 .

SEOUL, April 1 (Yonhap) -- South Korea saw a record-low number of air passengers last month due to the novel coronavirus pandemic, data showed Wednesday, as countries around the globe impose lockdowns and restrict travel.
The number of air passengers stood at 1.74 million in March, according to data from the Korea Civil Aviation Association (KCA). This is the first time that the figure has fallen below 2 million since the country started to record such statistics from 1997.
"The figure is based on real-time statistics, so it could change a little bit," a KCA official said. "However, that does not mean its downward trend will change."
This photo, taken on March 30, 2020, shows a departure terminal at Incheon International Airport in Incheon, west of Seoul. (Yonhap)
According to the KCA, the passenger number was 10.62 million in January but was halved to 5.5 million in February when the country reported wide spread of the novel coronavirus.
South Korea reported its first COVID-19 patient on Jan. 20.
Due to COVID-19, local air carriers have been cutting and suspending their flights. Some have even shut down all of their international air services.
"It's no exaggeration to say that the airline industry is facing an unprecedented crisis," an official at a local full service carrier said. "If the situation prolongs, the number of air passengers in April could be worse."
According to data, Korean Air Lines Co., South Korea's top air carrier, served only 378,588 air passengers in March, which was the first time in its history that the number of its air passengers fell below that of Asiana Airlines Inc., which served 398,260 passengers last month.
kdon@yna.co.kr
(END)


yna--2020-04-01--FM discusses easing entry ban for S. Korean businesses with Kuwaiti counterpart

Seoul has been asking other countries to ease entry restrictions at least for Korean workers involved in overseas projects , @ @ @ @ @ travel curbs on foreigners to stem the inflow of the new coronavirus from outside .

SEOUL, April 1 (Yonhap) -- Foreign Minister Kang Kyung-wha spoke by phone with her Kuwaiti counterpart Wednesday and discussed allowing entry exceptions for South Korean businesspeople seeking to visit the Middle Eastern country, her office said.
In the phone talks, made at the request of Kuwait's Foreign Minister Ahmed Nasser Mohammad Al-Sabah, Ahmed said the Kuwaiti government is positively reviewing Korea's call for giving exceptions to businesspeople so long as they have essential reasons and health documents ready.
Seoul has been asking other countries to ease entry restrictions at least for Korean workers involved in overseas projects, as many countries have imposed travel curbs on foreigners to stem the inflow of the new coronavirus from outside.
Kuwait has barred the entry of all foreigners and suspended flight operations.
Regarding anti-coronavirus efforts, the Kuwaiti minister asked for Korea's cooperation in helping his country purchase Korean diagnostic test kits and sharing its quarantine experiences to fight COVID-19.
Earlier in the day, Kang also spoke with Costa Rican Foreign Minister Rodolfo Solano and exchanged views on ways to boost cooperation to tackle the novel virus.
Solano also said that the Central American Bank for Economic Integration (CABEI), a regional development bank, is seeking to purchase Korean-made diagnostic kits to supply its members in the region, and asked for assistance with the supply of Korean quarantine goods, according to Kang's office.
elly@yna.co.kr
(END)


yna--2020-04-01--(LEAD) USFK reports another coronavirus case at Camp Humphreys, total at 14

USFK has put the Pyeongtaek garrison under a partial lockdown , shutting down several facilities and restricting all movement except @ @ @ @ @ needs following a series of coronavirus infections at the base where the USFK headquarters is @ @

(ATTN: ADDS more info in 2-4 paras; TRIMS)
SEOUL, April 1 (Yonhap) -- U.S. Forces Korea (USFK) reported another coronavirus case Wednesday, bringing the total number of USFK-related infections to 14.
The new COVID-19 patient is an American contractor at Camp Humphreys, 70 kilometers south of Seoul, according to USFK.
The patient is currently in isolation at his off-base residence as directed by USFK medical personnel, it said. He last visited the base on Monday.
"KCDC and USFK are actively conducting contact tracing to determine whether anyone else may have been exposed," USFK said in a release. KCDC refers to the Korea Centers for Disease Control and Prevention.
USFK has put the Pyeongtaek garrison under a partial lockdown, shutting down several facilities and restricting all movement except for mission essentials and basic needs following a series of coronavirus infections at the base where the USFK headquarters is located.
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 the photo provided by United States Forces Korea. (PHOTO NOT FOR SALE) (Yonhap)
scaaet@yna.co.kr
(END)


yna--2020-04-01--Fake news on April Fools' Day raises eyebrows

`` Some of my close friends and acquaintances got infected with the virus .
This is not at all a @ @ @ @ @ , '' Kim said .
`` I will accept any punishment , if I have @ @ @ @ @ to the message . ''

SEOUL, April 1 (Yonhap) -- Fake news that spread on social media on April Fools' Day raised eyebrows in South Korea at a time when people have been feeling fatigued as the country fights to contain the new coronavirus.
The office of the national park at Mount Seorak on the east coast dismissed Wednesday the rumor that a major tourist attraction at the mountain, known as "wobbling rock," had fallen off a cliff.
It had been rumored on social media that 11 American tourists had been booked for allegedly damaging cultural assets after they pushed the rock down the mountain.
The inaccurate report said the tourists pushed the rock to test out a tour guide's claim that the rock would not fall no matter how people tried to move it.
The rumor quickly spread, and the park office received phone calls, prompting it to write on its Facebook account that "the rock stands solid."
This image (L), captured from portal sites, shows the fake news that a major tourist attraction at Mount Seorak, known as "wobbling rock," fell down the mountain. The other image, captured from the Facebook account of the office of the national park at Mount Seorak, shows its response to the report. (PHOTO NOT FOR SALE) (Yonhap)
Since 2001, the wobbling rock story has been the subject of jokes on April Fools' Day.
But this year, some Koreans showed discomfort at the jokes, calling for restraint, as people are fighting COVID-19.
Singer Kim Jae-joong of boy band JYJ drew criticism after he made April Fools' jokes about the new coronavirus.
Kim wrote on social media that he was at a hospital, as he was confirmed to be infected with the coronavirus.
As the message was made public, his management agency said it was checking details. Media reports followed, citing his message. Kim is known to be in Japan.
Hours later, Kim confessed that it was an April Fools' joke.
"Some of my close friends and acquaintances got infected with the virus. This is not at all a story in a far-away country," Kim said. "I will accept any punishment, if I have to receive one, due to the message."
Kim said that his online message was aimed at sounding the alarm against the pandemic, but he came under fire online for the act.
This photo, taken on Feb. 3, 2020, shows singer Kim Jae-joong of boy band JYJ. (Yonhap)
(END)


yna--2020-04-01--Car sales fall 15 pct in March on coronavirus impact

Kia has eight domestic plants -- two in Gwangmyeong , three in Hwaseong and three in Gwangju -- and seven @ @ @ @ @ China and one each in the U.S. , Slovakia , Mexico and India .
Their @ @ @ @ @ units .

SEOUL, April 1 (Yonhap) -- South Korea's car sales fell 15 percent last month from a year earlier as the spreading coronavirus outbreak affected vehicle production and sales.
The country's five carmakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 597,826 vehicles in March, down from 702,929 units a year ago, according to data from the companies.
The lower sales largely resulted from suspended operations of Hyundai and Kia's major overseas plants and three other carmakers' parent firms' output reduction in their plants as COVID-19 spread across the world and had a bigger impact on the global economy.
This computer graphic image shows the logos of South Korea's five carmakers: (clockwise from top L) Hyundai Motor, Kia Motors, SsangYong Motor, GM Korea and Renault Samsung Motors. (Yonhap)
Hyundai and Kia, which together form the world's fifth-biggest carmaker by sales, suspended most of their plants, in the United States, Europe, Russia, and India, following the local governments' directives to prevent the spread of the novel coronavirus.
As a result, Hyundai's sales plunged 21 percent to 308,503 vehicles last month from 390,177 units a year ago. Kia's declined 6.4 percent to 226,960 from 242,370 during the same period.
The companies plan to boost sales in the domestic market to offset declining sales in overseas markets.
Hyundai has seven domestic plants -- five in Ulsan, one in Asan and one in Jeonju -- and 10 overseas plants -- four in China and one each in the United States, the Czech Republic, Turkey, Russia, India and Brazil. Their combined capacity reaches 5.5 million vehicles.
Kia has eight domestic plants -- two in Gwangmyeong, three in Hwaseong and three in Gwangju -- and seven overseas ones -- three in China and one each in the U.S., Slovakia, Mexico and India. Their overall capacity is 3.84 million units.
They set a combined sales goal of 7.54 million autos in global markets this year, higher than 7.2 million units they sold last year. But they are widely expected to fall short of the sales target due to the coronavirus impact.
Hyundai and Kia are likely to report poor earnings results this year as their sales in China remain weak, while showing no signs of a rebound.
To offset tepid demand in China, Hyundai and Kia had planned to put a bigger focus on boosting sales in the U.S. market this year by launching Hyundai's Tucson SUV, Hyundai's independent Genesis brand's GV80 SUV and G80 sedan and Kia's Sportage SUV.
But the coronavirus outbreak and suspension of their overseas plants won't allow them to offset weak Chinese sales with U.S. sales.
SsangYong Motor was the worst performer. Its sales plunged 29 percent on-year to 9,345 units in March from 13,158 due to weaker demand for its models.
GM Korea's sales declined 12 percent to 37,918 from 42,996 during the same period on weak exports. Renault Samsung's sales rose 9.5 percent to 15,100 from 13,796 helped by robust sales of its SUV models.
From January to March, the five carmakers sold 1,687,905 vehicles, down 9.2 percent from 1,859,767 a year earlier.
kyongae.choi@yna.co.kr
(END)


Yonhap News Summary

The furloughs have also drawn criticism that Washington is risking the livelihoods of South Koreans who have worked many years @ @ @ @ @ sake of its own financial interests and to pressure its ally in the defense cost @ @

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.
-----------------
(4th LD) New infections again on slide, but cluster, imported cases still on rise
SEOUL -- South Korea saw a slight decline in new coronavirus cases Wednesday, but cluster infections in Seoul and the surrounding area and imported cases continued to emerge.
The 101 new cases of COVID-19, detected Tuesday and down from 125 new cases a day earlier, brought the country's total cases to 9,887 and marked the 20th consecutive day that new infections have hovered around 100 or fewer additional cases, according to the Korea Centers for Disease Control and Prevention (KCDC).
-----------------
(3rd LD) USFK begins indefinite furloughs for Korean employees over stalled cost-sharing talks
SEOUL -- Thousands of South Koreans working for the U.S. Forces Korea (USFK) were furloughed indefinitely starting Wednesday amid a deadlock in defense cost-sharing negotiations between the two countries, sparking concerns over the possible impact on Korea's readiness posture.
The furloughs have also drawn criticism that Washington is risking the livelihoods of South Koreans who have worked many years for the USFK for the sake of its own financial interests and to pressure its ally in the defense cost talks.
-----------------
S. Korea voices regret over furloughs for USFK workers, vows supportive measures
SEOUL -- South Korea expressed regret Wednesday after U.S. Forces Korea put thousands of South Korean employees on indefinite furloughs, vowing to come up with diverse measures, including extending loans, to help support the workers.
About 4,500-5,000 employees were forced to go on unpaid leave starting Wednesday as Seoul and Washington have failed to work out a new Special Measures Agreement (SMA) that covers wages of South Korean employees and other costs of the upkeep of about 28,500 U.S. troops stationed here.
-----------------
S. Korean chartered plane returns with some 300 nationals from virus-hit Italy
SEOUL -- A South Korean government-chartered plane with 309 citizens on board returned from coronavirus-hit Italy on Wednesday, amid the worsening virus outbreak in the European country.
The Korean Air flight from Milan landed at Incheon International Airport, west of Seoul, at about 2:30 p.m. It was the first of the two flights the government has sent to airlift citizens stranded in Italy, a country under nationwide lockdown due to the virus spread.
-----------------
(2nd LD) S. Korea begins overseas voting for April 15 general elections amid coronavirus outbreak
SEOUL -- South Korea kicked off six days of overseas elections for the April parliamentary polls Wednesday, with only about half the eligible voters being allowed to cast ballots due to the new coronavirus.
About 86,000 eligible voters in 66 countries and territories were to cast their absentee ballots for the April 15 elections until Monday, according to the National Election Commission (NEC) and Seoul's foreign ministry.
-----------------
(LEAD) Strict social distancing should go further: health authorities
SEOUL -- Despite growing fatigue among citizens over a prolonged social distancing campaign, South Korea needs to further extend its nationwide drive, rather than loosening it up, as there are still risks from new cases steadily popping up, the country's health authorities said Wednesday.
The country launched a strict, two-week-long social distancing drive on March 22 urging people to keep a safe distance from each other by putting off all meetings, avoiding crowds and working from home to minimize contacts.
-----------------
Infections surge in capital area, hospitals exposed to cluster infections
SEOUL -- The number of coronavirus cases in Seoul, Incheon and Gyeonggi Province has surpassed 1,000, putting South Korea's health and quarantine authorities on high alert despite the flattening of the infection curve nationwide.
Cluster infections have been reported at major hospitals in the capital area, home to nearly half of the country's 52 million-strong population.
(END)


yna--2020-04-01--Late Hanbo founder's son receives 7-year sentence for embezzlement

He was also charged with taking the embezzled money out of the country without permission from the authorities , in @ @ @ @ @ Control Act .
Prosecutors had demanded imprisonment of 12 years and the forfeit of 40.13 @ @ @ @ @ the previous hearing .

SEOUL, April 1 (Yonhap) -- A son of Chung Tae-soo, the late founder of the now-defunct Hanbo Group, was sentenced to seven years in prison Wednesday for embezzlement, illicit capital flight and violating the foreign exchange law.
The Seoul Central District Court also ordered Chung Han-keun, the fourth son of the late Hanbo founder, to forfeit 40.13 billion won (US$32.6 million) after finding him guilty of the charges.
The sentence came 23 years after the junior Chung allegedly committed the financial crimes during the Asian financial crisis in the late 1990s, and 12 years after he was indicted in 2008 on those charges.
The 55-year-old Chung is accused of embezzling 32 billion won by underreporting that the sale value of a Hanbo company's 9 million shares in a Russian oil company was $25.2 million when it was actually worth $57.9 million in 1997.
This file photo shows Chung Han-keun arriving at Incheon International Airport, west of Seoul, on June 22, 2019. (Yonhap)
He was also charged with taking the embezzled money out of the country without permission from the authorities, in violation of the Foreign Exchange Control Act. Prosecutors had demanded imprisonment of 12 years and the forfeit of 40.13 billion won for Chung in the previous hearing.
"The accused's act constitutes an illicit capital flight. He has also been found guilty of other charges," the Seoul court said in its ruling.
"The accused committed the crimes for his own profit. He also incited others to help him flee abroad and committed other offenses on the run," the court said.
Chung was arrested in Panama and extradited to South Korea last June, 21 years after he fled abroad in 1998 to avoid a prosecution probe on his criminal charges.
Hanbo Group, once the 14th-largest conglomerate here, declared bankruptcy in January 1997 due to mounting debt.
Hanbo's founder Chung died in December 2018 in Ecuador, where he was living after fleeing South Korea while standing trial on embezzlement charges.
ycm@yna.co.kr
(END)


yna--2020-04-01--Progress made in allies' defense cost talks, but no deal yet: Cheong Wa Dae

The Cheong Wa Dae official said the SMA was not brought up in the conversation that lasted less than half @ @ @ @ @ no decision has been made on whether Cheong Wa Dae will break the news of @ @ @ @ @ whether the foreign ministry will do so .

SEOUL, April 1 (Yonhap) -- Cheong Wa Dae said Wednesday that South Korea and the United States have yet to strike an agreement on defense cost-sharing despite progress in the prolonged talks.
"It's true that there's progress but negotiations are still under way," a Cheong Wa Dae official told reporters.
Cheong Wa Dae has no announcement yet in connection with the matter, the official added.
He was responding to a media report that the allies have tentatively reached a Special Measures Agreement (SMA) on splitting the cost of stationing the 28,500-strong American troops here.
It came after President Moon Jae-in had a phone conversation with his U.S. counterpart, Donald Trump, last week, in which they mainly discussed cooperation in coping with the coronavirus pandemic.
The Cheong Wa Dae official said the SMA was not brought up in the conversation that lasted less than half a hour.
He added no decision has been made on whether Cheong Wa Dae will break the news of an accord being reached or whether the foreign ministry will do so.
U.S. Forces Korea, meanwhile, put thousands of South Korean workers at its bases here on indefinite unpaid leave as of Wednesday, arguing that it has run out of funds to pay their salaries.
The previous day, South Korea's top negotiator Jeong Eun-bo expressed regret over the measure that comes at a time when the two sides are "in the last stages" of sealing a cost-sharing agreement.
South Korean exployees are on duty at a U.S. military base in Seoul on March 31, 2020. (Yonhap)
lcd@yna.co.kr
(END)


yna--2020-04-01--(LEAD) Strict social distancing should go further: health authorities

Backed by the strong measures and nationwide support from citizens , the country 's new virus cases have been on @ @ @ @ @ 100 daily for the past 20 days .
But it is not the time to @ @ @ @ @ according to Vice Health Minister Kim Ganglip .

(ATTN: RECASTS headline; CLARIFIES in paras 1-6, 8-9)
SEOUL, April 1 (Yonhap) -- Despite growing fatigue among citizens over a prolonged social distancing campaign, South Korea needs to further extend its nationwide drive, rather than loosening it up, as there are still risks from new cases steadily popping up, the country's health authorities said Wednesday.
The country launched a strict, two-week-long social distancing drive on March 22 urging people to keep a safe distance from each other by putting off all meetings, avoiding crowds and working from home to minimize contacts.
People keep their distance and practice social distancing as they wait in a line to enter a courthouse in southern Seoul on March 30, 2020. (Yonhap)
The measures were scheduled to end on April 5, but the authorities stressed that they should be extended given the current trend of new COVID-19 cases in the country.
Backed by the strong measures and nationwide support from citizens, the country's new virus cases have been on the wane, hovering around 100 daily for the past 20 days. But it is not the time to loosen up the measures, according to Vice Health Minister Kim Ganglip.
"The government is aware that people are getting restless and worried, but with small scale cluster outbreaks being reported in hospitals and religious facilities, the present situation remains difficult," he said in a news briefing. "Maintaining the current social distancing drive is necessary for the time being."
"We can expect more effect from the social distancing drive and we can go back to normal life at an earlier date," he said.
A teacher records a lecture for online education at a high school in Seoul on March 31, 2020, as the education ministry decided to open schools in stages from April 9, with online classes for middle and high school senior students first.
Underscoring concerns over community spread, the country on Tuesday 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.
Seoul had originally wanted to ease social distancing starting next week and adopt a more sustainable way of continuing the quarantine system while also allowing citizens to return to normal.
The proposed guidelines under review call for citizens to go about their daily activities in a way that minimizes the risks of virus infections.
South Korea reported 101 new cases of the novel coronavirus on Tuesday, bringing the total number here to 9,887 since the first infection was confirmed on Jan. 20. The death toll has reached 165, with 5,567 people making full recoveries.
yonngong@yna.co.kr
(END)


yna--2020-04-01--(News Focus) In Seoul, buying face masks becomes easier as rationing system settles

`` Apart from the additional task of wrapping the bulk supply of masks into packages of two , things are @ @ @ @ @ the mask supply crunch .
We all got used to it , '' said the @ @ @ @ @ ward of Dongdaemun .
`` If this keeps up , I think we may end @ @ @ @ @ masks in stock , '' she said .

By Lee Minji
SEOUL, April 1 (Yonhap) -- While unexpected cluster infections and coronavirus blues continue to dispirit people here, there's at least one thing they no longer have to fret about: buying face masks.
Nearly a month into the government's mask rationing system, supply has loosened up in many neighborhoods across the capital, sparing people from the exhausting searching and hourslong queuing for face masks.
In early March, the government launched a rationing system, aiming to disperse purchasing throughout the week, as COVID-19, which has infected more than 9,000 in the country, triggered a mask supply crunch.
Under the scheme, people can buy two masks for 3,000 won (US$2.50) each week on a designated day of the week, depending on the last digit of their birth year. For instance, people born in 1981 and 1986 can buy masks on Monday, while those born in 1982 and 1987 can buy them on Tuesday. Those who didn't purchase masks on weekdays can get them on weekends.
This photo, taken on March 21, 2020, shows a person holding masks purchased at a pharmacy in the Seoul ward of Jongno. (Yonhap)
Initial confusion was reported when the system kicked off. Some queued on the wrong day of the week, while some asked if they could buy masks on behalf of their spouses or children. Both are not allowed under the rationing system.
Some people gave up buying masks as daily stocks -- around 100 per pharmacy -- sold out within minutes. Frustrated customers complained to pharmacists, which devolved into verbal and physical abuse in some cases.
But both customers and pharmacists say the system has pretty much stabilized after three weeks of trial and error.
"In the beginning, people stood in long lines and ranted at us when stocks sold out. Seeing people queuing at pharmacies was itself something I had never experienced in my 44-year career," said an elderly pharmacist in Wangsimni, an eastern Seoul neighborhood known as a transportation hub and student hangout.
"Now we have around 400 masks coming in each day. People can get masks without standing in lines and we don't get as many phone calls from customers. It's so much better now," the pharmacist said.
A pharmacist working at a big pharmacy on the ground floor of a hospital echoed the sentiment.
"Apart from the additional task of wrapping the bulk supply of masks into packages of two, things are not that different from before the mask supply crunch. We all got used to it," said the pharmacist in the eastern Seoul ward of Dongdaemun. "If this keeps up, I think we may end up with a few hundred masks in stock," she said.
Data show that the supply of masks has increased. The government supplied around 7 million masks on March 9, the first day of the rationing system, but the figure reached over 12 million on April 1, according to the Ministry of Food and Drug Safety.
In addition to increased supply, a rise in remote working and voluntary movements encouraging people not to buy unnecessary masks, also appear to have helped stabilize supply.
"I didn't buy a single mask after the virus broke out," 35-year-old Yoon Binna said. "I've been working from home and felt that for young people like me, cotton masks are sufficient for short visits outside."
A notice on the government's mask rationing system is on display at a pharmacy in central Seoul in this photo taken on March 19, 2020. (Yonhap)
For those who've been eagerly searching for masks, the recent trend is a source of comfort.
"Before the rationing system began, I couldn't get even one mask despite visiting several pharmacies near my office. It was frustrating," Lee Chong-seok, who works at the financial district of Yeouido, said.
"Now, I just have to queue for 15 minutes. If I'm lucky, I can get them without waiting. It's relieving to know that I can always get a regular supply of masks," the 65-year-old said.
Face mask supply is expected to further stabilize this month on increased supply of mask filters, a key component for face masks.
"The inconveniences seen in the initial stages of the rationing system have eased somewhat thanks to the people's participation," Prime Minister Chung Sye-kyun said Monday. "We will consider improving the mask rationing system when mask production capacity stabilizes."
mlee@yna.co.kr
(END)


yna--2020-04-01--(LEAD) Korean stocks dip 4 pct on extended foreign selling, won sharply drops

`` The stock market may show different movements from that of the U.S. because the coronavirus outbreak appears to be @ @ @ @ @ Korea , '' said Park Jong-dae , an analyst at Hana Financial Investment .

(ATTN: ADDS bond yields at bottom, photo)
SEOUL, April 1 (Yonhap) -- South Korean stocks sank 4 percent Wednesday as foreign investors continued to sell local shares on fears of the economic fallout from the new coronavirus outbreak. The local currency dropped sharply against the U.S. greenback.
After a choppy session, the benchmark Korea Composite Stock Price Index (KOSPI) plunged 69.18 points, or 3.94 percent, to close at 1,685.46. Trading volume was high at 123 million shares worth some 11.9 trillion won (US$9.67 billion), with losers outnumbering gainers 574 to 291.
The index opened slightly lower, tracking overnight losses on Wall Street but moved to positive terrain on better-than-expected exports. South Korea's outbound shipments slipped 0.2 percent on-year to $46.9 billion in March.
"Exports in March fell short of the market consensus but were still better than anticipated, considering the market concerns created by the spread of COVID-19," Kiwoom Securities analyst Kim Yoo-mi said.
Kim added the slight drop in March may also be attributed to a recent plunge in global oil prices that pulled down the prices of petroleum and petrochemical products, key export items for Asia's fourth-largest economy.
Dealers work in the trading room of Hana Bank in Seoul on April 1, 2020. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 69.18, or 3.94 percent, to close at 1,685.46. (Yonhap)
The stock market lost steam as foreigners again offloaded local shares, extending their selling streak to a 20th consecutive session.
Foreign investors dumped a net 575 billion won, and institutions sold a net 620 billion won. Retail investors scooped up a net 1.15 trillion won.
Still, analysts here insisted South Korea's stock market may increasingly show different movements from those of the United States down the road.
"The stock market may show different movements from that of the U.S. because the coronavirus outbreak appears to be stabilizing in China and South Korea," said Park Jong-dae, an analyst at Hana Financial Investment.
South Korea has so far reported over 9,800 infection cases of COVID-19, but its daily increase has recently remained at around 100 or fewer cases. The country added 101 new cases to the total Wednesday.
Most large caps ended in negative terrain.
Market bellwether Samsung Electronics plunged 4.08 percent to 45,800 won, while No. 2 chipmaker SK hynix tumbled 5.88 percent to 78,400 won.
Top pharmaceutical company Samsung BioLogics lost 6.12 percent to 452,500 won, and leading carmaker Hyundai Motor dipped 3.72 percent to 85,400 won.
The Korean won closed at 1,230.50 won per dollar, down 13.10 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 2.2 basis points to 1.092 percent, and the return on the benchmark five-year government bond gained 3 basis points to 1.326 percent.
bdk@yna.co.kr
(END)


yna--2020-04-01--S. Korean Bond Yields on Apr. 1, 2020

S. Korean Bond Yields on Apr. 1, 2020

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


yna--2020-04-01--S. Korean chartered plane returns with some 300 nationals from virus-hit Italy

The passengers from Italy will be quarantined at designated facilities if any one of them tests positive for the virus @ @ @ @ @ negative , they will be required to self-isolate at home for two weeks .

SEOUL, April 1 (Yonhap) -- A South Korean government-chartered plane with 309 citizens on board returned from coronavirus-hit Italy on Wednesday, amid the worsening virus outbreak in the European country.
The Korean Air flight from Milan landed at Incheon International Airport, west of Seoul, at about 2:30 p.m. It was the first of the two flights the government has sent to airlift citizens stranded in Italy, a country under nationwide lockdown due to the virus spread.
The second plane is set to depart from Rome after a stopover in Milan, carrying about 210 people from the two cities, and is expected to arrive in Incheon on Thursday afternoon.
The passengers from Italy will be quarantined at designated facilities if any one of them tests positive for the virus. If they all test negative, they will be required to self-isolate at home for two weeks.
South Korea has toughened entry procedures by requiring the 14-day home quarantine for all international arrivals, as the country has seen a sharp rise in imported cases of COVID-19.
On Wednesday, Korea reported 9,887 infection cases, with 165 deaths. Of the total infection tally, 560 cases came from overseas, according to the Korea Centers for Disease Control and Prevention (KCDC).
Seoul has thus far run government-arranged flights to evacuate citizens from the central Chinese city of Wuhan, a cruise ship off Yokohama near Tokyo and, most recently, from Tehran.
South Korean nationals arrive at Incheon International Airport, west of Seoul, on April 1, 2020, after taking a government-chartered plane from coronavirus-hit Italy. (Yonhap)
elly@yna.co.kr
(END)