yna--2020-05-26--S. Korea's telecom market lacks competition: report

`` The market share and concentration ratio of the country 's top telecom operator dropped and improved index related to @ @ @ @ @ this is mainly due to government policy of supporting 'altteul ' phone operators , '' @ @ @ @ @ report for the 2019 telecom market , using the Korean word for thrifty .
`` @ @ @ @ @ achievements , we can not conclude there is active competition in the market . ''

SEOUL, May 26 (Yonhap) -- South Korea's telecommunications market dominated by three major firms lacks competition and needs to improve its structure to provide better services to consumers, a state-run think tank said Tuesday.
The Korea Information Society Development Institute (KISDI) said although competition in the local telecom market, viewed as an oligopoly, has grown over the years, it still appears to be "insufficient."
"The market share and concentration ratio of the country's top telecom operator dropped and improved index related to the market structure, but this is mainly due to government policy of supporting 'altteul' phone operators," the KISDI said in its report for the 2019 telecom market, using the Korean word for thrifty. "Considering its market structure and achievements, we cannot conclude there is active competition in the market."
This photo provided by KT Corp. on Jan. 17, 2020, shows engineers from LG Uplus Corp. (L), KT (C) and SK Telecom Co. checking their 5G networks at a subway station in Gwangju. (PHOTO NOT FOR SALE) (Yonhap)
Altteul phone service providers refer to mobile virtual network operators that rent infrastructure from major telecom firms and provide wireless service at a cheaper price.
Excluding altteul phone operators, the market share of the country's top mobile carrier, SK Telecom Co., stood at 47.3 percent in terms of the number of subscribers at end-2018, according to the report.
SK Telecom was followed by KT Corp. with 29.8 percent and LG Uplus Corp. with 22.9 percent.
The market share difference between the country's top and second-largest telecom operators was 18.9 percentage points, which was 5.4 percentage points higher than data from OECD members.
"When compared with internationally, there is a big gap between the No. 1 and No. 2 service providers, and there is relatively small pressure from altteul phone operators," the KISDI said.
"At this point, there is little possibility for a new telecom operator with infrastructure to enter the market, so improving market structure is likely to be limited."
Such a market situation may affect the companies' investment and mobile tariff plans, and could limit active competition in the market in the long term, according to the report.
The KISDI said competition in the future mobile market will depend on the industry's response to the 5G sector and performance of altteul phone operators.
kdon@yna.co.kr
(END)


yna--2020-05-26--Seoul stocks open higher on economic recovery hopes

The KOSPI extended gains from the previous day largely on investors ' optimism for an economic recovery fueled by South @ @ @ @ @ push for a third and possibly largest-ever supplementary budget .

SEOUL, May 26 (Yonhap) -- South Korean shares opened higher Tuesday on expectations for an economic recovery amid eased worries over the new coronavirus.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.7 points, or 0.54 percent, to 2,005.30 in the first 15 minutes of trading.
The KOSPI extended gains from the previous day largely on investors' optimism for an economic recovery fueled by South Korean President Moon Jae-in's push for a third and possibly largest-ever supplementary budget.
U.S. stock markets closed Monday (New York time) for the Memorial Day holiday.
Large caps were mixed.
Market kingpin Samsung Electronics lost 0.31 percent, and No. 2 chipmaker SK hynix slipped 0.61 percent.
Top automaker Hyundai Motor soared 1.25 percent, while its smaller affiliate Kia Motors advanced 1.64 percent.
Internet portal giant Naver slipped 0.83 percent, and its local rival Kakao spiked 1.31 percent.
Pharmaceutical industry leader Samsung Biologics added 0.79 percent, while Celltrion lost 0.23 percent.
The local currency was trading at 1,239.85 won per dollar, up 4.35 won from the previous session's close.
jwc@yna.co.kr
(END)


KOSDAQ 723.28 UP 3.39 points (open)

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


KOSPI 2,001.00 UP 6.40 points (open)


Tuesday's weather forecast

SEOUL , May 26 ( Yonhap ) -- The following is the weather forecast for South Korea 's 12 major @ @ @ @ @ .


yna--2020-05-26--Dollar opens at 1,242.0 won DN from 1,244.2 won


yna--2020-05-26--Eight more COVID-19 cases linked to Coupang logistics center

The facility was closed Monday after its workers were confirmed to be infected .
The center 's first case confirmed @ @ @ @ @ one of dozens of chain transmissions traced to an instructor at a private educational institute @ @ @ @ @ contracted the virus at a nightclub in Itaewon , Seoul .

INCHEON/BUCHEON, South Korea, May 26 (Yonhap) -- Health authorities on Tuesday confirmed eight more coronavirus cases linked to a logistics center of Coupang, the country's leading e-commerce operator, bringing the center's total infection tally to 11.
The uptick in COVID-19 cases related to the facility in Bucheon, west of Seoul, raised fears of another infection cluster as the country is struggling to return to normal after months of aggressive containment efforts.
Of the 11 patients, one contracted the virus after close contact with a COVID-19 patient linked to the Bucheon center, while another is a daughter of a worker at the Coupang logistics center who tested positive.
The remaining nine are workers at the Bucheon center.
Health authorities have started to conduct virus tests on a total of 3,626 people linked to the logistics center. They include permanent workers at the center as well as temporary staff and employees of the company's contract suppliers.
The facility was closed Monday after its workers were confirmed to be infected. The center's first case confirmed Saturday is believed to be one of dozens of chain transmissions traced to an instructor at a private educational institute in nearby Incheon, who contracted the virus at a nightclub in Itaewon, Seoul.
The Bucheon municipality decided to suspend the logistics center until after it has been cleared of any infection risks.
The possibility of COVID-19 spreading through the transportation of packages from the logistics center appeared low, health officials said.
"There has been no report of a case around the world in which COVID-19 has been transmitted by mid- and long-distance deliveries," Korea Centers for Disease Control and Prevention's Deputy Director Kwon Jun-wook said.
"If it is not the case of patients without masks and gloves unleashing the virus at the logistics center, the possibility of virus transmission when a client receives a delivery is deemed to be considerably low," he added.
But the official said that the authorities intend to check if the personnel at the center have complied with personal hygiene rules and track the movement of confirmed cases should there be any infection risks associated with them.
As of midnight, South Korea has logged 19 new cases, bringing its total caseload to 11,225, with its death toll at 269.
This photo, taken on May 26, 2020, shows the logistics center of Coupang, the country's leading e-commerce operator, in Bucheon, west of Seoul. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-05-26--(4th LD) Second phase of school reopening set for Wednesday amid pandemic

School reopening is considered one of the most important steps in the government 's `` everyday life quarantine '' scheme @ @ @ @ @ May 6 .
The scheme is designed to help people learn to live with the @ @ @ @ @ amid relaxed social distancing .

(ATTN: UPDATES with more info in 11th para)
SEOUL, May 26 (Yonhap) -- South Korea is on track for its second phase of school reopening Wednesday, bringing back more than 2 million students to their schools nationwide amid the new coronavirus pandemic.
School reopening is considered one of the most important steps in the government's "everyday life quarantine" scheme, which was introduced on May 6. The scheme is designed to help people learn to live with the virus and resume normal life amid relaxed social distancing.
Under the government's phased school reopening plan, schools are scheduled to resume in-person classes for the two lowest grades of elementary school, kindergarten students, middle school seniors and second-year high school students.
The estimated number of affected students amounts to 2.37 million.
About 440,000 high school seniors returned to school last week after more than two months of delay due to the COVID-19 pandemic.
A teacher prepares the classroom for students at a school in Suwon, Gyeonggi Province, on May 25, 2020, ahead of school reopening. (Yonhap)
The resumption of in-person classes, however, has faced hurdles.
The latest came Tuesday when a teacher at an elementary school in Bucheon, south of Seoul, tested positive for COVID-19, though details are still sketchy.
On Monday, a 6-year-old kindergarten boy was confirmed to have contracted the virus from his art teacher at Young Rembrandts, a private art school in Magok of Gangseo on the south side of the Han River.
The teacher, who tested positive Sunday, had taught 35 students at the institute until Friday and had contact with three other teachers there.
Last week, dozens of schools in Incheon and Daegu were also closed following several infections involving high school students.
A total of 451 schools and kindergartens across the country, including 15 in Seoul, 251 in Bucheon and 185 in North Gyeongsang Province, had rescheduled their reopenings to later dates, according to the ministry, citing concerns about the spread of the virus.
A teacher checks students' temperatures at a high school in Seoul on May 21, 2020, the second day of school reopening. (Yonhap)
The second phase of school reopening raised more concerns than the first, particularly because it involves younger children who find it more difficult to comply with quarantine and social distancing rules.
To ease parents' anxiety, the Ministry of Education increased the number of permissible absent days so that students can stay at home without worrying about school attendance.
Also, schools have more leeway over setting up schedules to minimize classroom crowding, such as alternating school days for different classes. High school seniors go to school every day to prepare for the national university entrance exam slated for November.
By grade, high school classrooms will run at two-thirds of their full attendance, while the figure is one-third for middle and elementary schools.
Schools in areas with more infections are strongly advised not to fill classrooms with more than two-thirds of students.
The ministry also offers staffing and logistics assistance to schools to help run after-school day care programs smoothly for working parents.
To monitor and tackle potential outbreaks at schools, the ministry is in close coordination with the Korea Centers for Disease Control and Prevention (KCDC) and provincial education offices.
The government is also expected to unveil a set of revised quarantine and disinfection guidelines Wednesday in time for the second phase of the reopening.
"There are considerable difficulties (for students and teachers) to wear masks all the time at schools," Yoon Tae-ho, a senior health official, said during a regular coronavirus briefing at the Central Disaster and Safety Countermeasures Headquarters on Monday.
The guidelines are said to include details on, for example, "how to wear masks on a playground and at recess," according to Yoon, which will go into effect immediately.
The government reassures the public that the second phase will go off without a major hitch.
"I understand there are many concerns, but based on the school reopening situation for high school seniors, we can see things have been going relatively well," Son Young-rae, another health official, told a press briefing Tuesday.
"Now is the time for the reopening of schools and the running of safety and quarantine measures to be balanced harmoniously," he said, calling for the public's support for creating a safe learning environment for the country's youth.
The ministry said about 90 percent of the students who are scheduled to attend schools Wednesday finished self health checkups on a mobile phone application. Students are required to regularly monitor their health conditions using the app for one week before going to schools.
jaeyeon.woo@yna.co.kr
(END)


yna--2020-05-26--S. Korea to develop close-in weapon system for warships

The new weapon is expected to be mounted on the country 's major naval ships , including its 6,000 ton-class @ @ @ @ @ built under the Korean Destroyer Next Generation ( KDDX ) project , and 3,000-ton Batch-III @ @ @ @ @ the DAPA .

SEOUL, May 26 (Yonhap) -- South Korea decided Tuesday to develop an indigenous close-in weapon system (CIWS) for its warships by 2030.
The Defense Acquisition Program Administration (DAPA) said the defense project promotion committee approved the 350 billion-won (US$283.51 million) project that will be launched next year.
The CIWS is designed to detect and destroy short-range anti-ship missiles and aircraft that have penetrated outer defenses. Currently, South Korea uses the U.S. CIWS system.
The new weapon is expected to be mounted on the country's major naval ships, including its 6,000 ton-class destroyers, which have been built under the Korean Destroyer Next Generation (KDDX) project, and 3,000-ton Batch-III Ulsan-class frigates, according to the DAPA.
This photo provided by the Hyundai Heavy Industries Co. on March 16, 2020, shows an image of the Ulsan-class Batch-III frigate to be built by the company. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-05-26--China shares info on proposed Hong Kong security law with S. Korea: embassy official

The push for the law came amid an intensifying rivalry between Washington and Beijing over trade , technology and security @ @ @ @ @ major powers have escalated as the United States is pushing for its Economic Prosperity Network @ @ @ @ @ global supply chains away from China .

SEOUL, May 26 (Yonhap) -- China has shared information with South Korea on its push for a controversial security law for Hong Kong, a Chinese Embassy official said Tuesday, in an apparent move to seek Seoul's backing for the proposal.
The proposed law, seen as a bid to tighten Beijing's control over the semiautonomous territory, has triggered fears from Washington and democracy advocates that the legislation would erode Hong Kong's autonomy and civil liberties.
"(China) has shared information related to the efforts for the legislation related to safeguarding the safety of Hong Kong with the South Korean government and other sectors through a diplomatic channel," the official told Yonhap News Agency over the phone.
"As China's National People's Congress opened on May 22, Beijing has shared the content of the legislation with Korea's foreign ministry," the official added.
The proposal would prohibit subversion, secession or treason and allow the central government to set up security bases in Hong Kong, spawning worries that it could undermine China's "one country, two systems" principle.
China's apparent move to seek South Korea's backing is posing a tricky diplomatic challenge to Seoul, as Washington opposes the proposal threatening to revoke Hong Kong's special trade privileges.
The push for the law came amid an intensifying rivalry between Washington and Beijing over trade, technology and security. Tensions between the two major powers have escalated as the United States is pushing for its Economic Prosperity Network, an initiative to diversify global supply chains away from China.
In the face of such brewing geopolitical challenges, Seoul's Foreign Minister Kang Kyung-wha plans to hold an interagency meeting Thursday to discuss diplomatic solutions to tackle the increasingly convoluted geopolitics.
Protesters run during a protest against Beijing's national security legislation in Causeway Bay in Hong Kong on May 24, 2020, in this photo released by the Associated Press. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-05-26--(4th LD) Club-linked virus cases still on rise ahead of further school reopening

To prevent the further spread of the virus , the government has required all people to wear masks when using @ @ @ @ @ who do not wear masks may not be allowed to board buses and taxis .

(ATTN: ADDS info on group infections in Bucheon in paras 8-9)
SEOUL, May 26 (Yonhap) -- South Korea's virus fight appears to be dragging on as sporadic outbreaks tied to an infection cluster in Seoul's nightlife district of Itaewon continued ahead of another phase of school reopening.
The 19 new cases, with 16 being local infections, raised South Korea's total coronavirus caseload to 11,225, according to the Korea Centers for Disease Control and Prevention (KCDC).
The daily increase in new virus cases stayed below 20 for the second day after hovering around the threshold for three days.
Health workers speak to citizens waiting in line for virus tests at a public medical center in Gangseo Ward, western Seoul, on May 26, 2020, one day after a kindergarten student in the district tested postive for the novel coronavirus. (Yonhap)
Itaewon has emerged as a new hotbed for the spread of COVID-19 after a 29-year-old man tested positive for the virus on May 6 following his visits to multiple clubs and bars in Itaewon.
As of noon, 255 cases have been linked to Itaewon clubs, up 18 from a day earlier. Nearly half of those cases were identified in Seoul.
One recent case involved seven stages of transmission traced to a patient in Incheon, who lied about visiting Itaewon and infected students he taught at a cram school. More than 83,000 have been tested over the Itaewon outbreak.
The KCDC said it is also keeping a close eye on cases coming from bible study meetings in some cities, as well as group infections at a logistics center in Bucheon, west of Seoul.
Eight more cases linked to the Bucheon logistics center owned by Coupang, the country's leading e-commerce operator, were confirmed Tuesday, the authorities said, raising the total number to 11. The company closed the logistics center Monday.
Health authorities said all 3,626 workers at the facility, including contract firm workers, are being tested for the virus.
The country reported two more additional virus fatalities, raising the death toll to 269.
The total number of people released from quarantine after making full recoveries stood at 10,275, up 49 from the previous day, according to the KCDC, with 681 patients currently under treatment.
People wearing masks board a bus in Seoul on May 26, 2020. Health authorities said all bus, taxi and airplane passengers are required to wear masks to prevent COVID-19 infection. (Yonhap)
Despite the sporadic transmissions detected nationwide in connection with the Itaewon cluster, health authorities said they are not considering rolling back stricter social distancing as the country's quarantine capabilities remain sufficient to handle the recent virus situation.
But health authorities are staying vigilant over the further reopening of schools as an estimated 2.37 million students are to return to classes Wednesday.
Last week, about 440,000 high school seniors returned to school after more than two months of delay due to the pandemic.
Some schools in Gangseo Ward, western Seoul, decided to push back their reopening by one week after a kindergarten student tested positive for the virus.
"As students are to meet their classmates after a long time, there is a possibility that they may forget about personal hygiene rules," said Son Young-rae, a spokesperson for the country's health ministry.
To prevent the further spread of the virus, the government has required all people to wear masks when using buses and taxis. Those who do not wear masks may not be allowed to board buses and taxis.
Mandatory mask use will also be applied to air passengers starting Wednesday, regardless of their flights.
Health workers disinfect a classroom at an elementary school in Gwangju on May 26, 2020, one day ahead of school reopening. (Yonhap)
Some municipal governments have issued an administrative order banning gatherings at entertainment establishments with high infection risks, such as clubs and bars, as recent cases stemmed from those facilities.
Health authorities said as of 6 p.m. Monday, 33,468 people are in self-isolation, with most of them being those who arrived from overseas. Overseas arrivals are required to self quarantine for 14 days here.
South Korea has been ordering violators of self-isolation rules to wear electronic wristbands to track their movements. Currently 17 people are wearing the device, according to the health ministry.
The KCDC said two suspected cases of multisystem inflammatory syndrome in children (MIS-C), a mysterious pediatric inflammatory illness possibly linked to COVID-19, have been reported in the country.
The suspected cases, involving one child aged under 10, came one day after health authorities decided to establish a system to detect and analyze MIS-C, after such a disease was reported overseas.
The KCDC said the country will decide whether it should grant special importation of Remdesivir, an Ebola treatment that has emerged as a new hope in treatment of the new coronavirus, following a central clinical committee meeting Thursday.
kdon@yna.co.kr
(END)


yna--2020-05-26--(2nd LD) UNC says it cannot determine whether N.K. started border gunfire accidentally

`` Our military unit at the scene took appropriate measures ... in accordance with a response manual , '' the @ @ @ @ @ .
`` We express regret that the results of this probe have been announced without @ @ @ @ @ North Korean military 's gunfire . ''

(ATTN: ADDS more details, S. Korea's response throughout)
By Oh Seok-min
SEOUL, May 26 (Yonhap) -- The United Nations Command (UNC) said Tuesday that it could not "definitively" determine whether North Korea started a recent exchange of gunfire with South Korea intentionally or by mistake but found that both sides violated the armistice agreement.
The U.S.-led command, which administers the Demilitarized Zone (DMZ) and enforces the armistice that halted the 1950-53 Korean War, came to the conclusion after a weekslong investigation into the May 3 incident, where four bullets from the North hit a South Korean guard post, leading South Korean troops to return fire.
According to the investigation, North Korea committed the violation as it fired four rounds of 14.5-millimeter small arms from its guard post located on the northern side of the inter-Korean border at a South Korean guard post.
"However, the investigation was unable to definitively determine if the four rounds were fired intentionally or by mistake," UNC said in a release uploaded on its Facebook page.
The command invited the North Korean military to provide information on the case, and the North acknowledged receipt of the request. But it has not offered a formal response, UNC added.
South Korea also violated the armistice by responding "with two volleys of gunfire" toward North Korea, according to UNC.
"Based on the investigation's comprehensive findings, UNC personnel will engage in follow-on discussions with both sides to encourage an implementation of measures to prevent a recurrence of Armistice violations," the command said.
According to Article 1 of the agreement, neither side "shall execute any hostile act within, from, or against the demilitarized zone."
South Korea's defense ministry expressed regret that the UNC drew the conclusion without investigating North Korea and claimed that the South responded to the North's gunfire appropriately in accordance with a response manual.
"Our military unit at the scene took appropriate measures ... in accordance with a response manual," the ministry said in a release. "We express regret that the results of this probe have been announced without a practical investigation of the North Korean military's gunfire."
"We will continue to fully implement the Sept. 19 military agreement and take other measures to ease military tensions and to promote peace on the Korean Peninsula," the ministry said, citing the inter-Korean military pact signed in 2018.
Noting that the armistice agreement is meant to minimize the risk of incidents such as gunfire exchange, UNC said it will continue to identify and implement ways to improve conditions for peace and stability on the Korean Peninsula.
This photo, taken on May 22, 2019, shows a South Korean guard post inside the Demilitarized Zone (DMZ) in Cheorwon, Gangwon Province. (Pool photo) (Yonhap)
Following the incident, UNC dispatched a multinational special investigation team for a probe, which was observed by the Neutral Nations Supervisory Commission to ensure transparency and fairness, the command said, adding that the South Korean military fully cooperated with the investigation.
Earlier, South Korean military authorities said they believe the incident was not an intentional provocation based upon evidence secured from various intelligence sources.
U.S. Secretary of State Mike Pompeo also said on the day of the incident that he believes the incident was "accidental."
The Joint Chiefs of Staff said earlier that the South Korean troops fired about 15 rounds with a K-3 machine gun at the North Korean guard post.
Upon learning that the North used a 14.5-millimeter anti-aircraft machine gun, however, the South fired another 15 rounds with a 12.7-mm K-6 heavy machine gun "in accordance with the principle of proportional responses."
Right after the gunfire, South Korea sent a notice to the North and called for an explanation, but Pyongyang remains mum on the issue.
It was the first exchange of gunfire between South and North Korea in years. Under the Comprehensive Military Agreement signed in September 2018, the two Koreas agreed to halt all hostile acts against each other, a move aimed at reducing tensions and building trust.
The DMZ, which is about 250 kilometers long and 4 km wide, is one of the world's most heavily fortified borders and has often been a flashpoint between the rival Koreas, though South Korea has been pushing to turn it into a global peace zone.
This photo taken on Sept. 19, 2019, shows a North Korean guard post on the northern side of the Demilitarized Zone viewed from a South Korean observatory in Paju, Gyeonggi Province. (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-05-26--(URGENT) S. Korea expresses regret over UNC's conclusion of DMZ gunfire probe without investigating

(URGENT) S. Korea expresses regret over UNC's conclusion of DMZ gunfire probe without investigating N. Korea


yna--2020-05-26--(LEAD) UNC says it cannot determine whether N.K. started border gunfire accidentally

The DMZ , which is about 250 kilometers long and 4 km wide , is one of the world 's @ @ @ @ @ has often been a flashpoint between the rival Koreas , though South Korea has been @ @ @ @ @ a global peace zone .

(ATTN: ADDS more details throughout)
By Oh Seok-min
SEOUL, May 26 (Yonhap) -- The United Nations Command (UNC) said Tuesday that it could not "definitively" determine whether North Korea started a recent exchange of gunfire with South Korea intentionally or by mistake but found that both sides violated the armistice agreement.
The U.S.-led command, which administers the Demilitarized Zone (DMZ) and enforces the armistice that halted the 1950-53 Korean War, came to the conclusion after a weekslong investigation into the May 3 incident, where four bullets from the North hit a South Korean guard post, leading South Korean troops to return fire.
According to the investigation, North Korea committed the violation as it fired four rounds of 14.5-millimeter small arms from its guard post located on the northern side of the inter-Korean border at a South Korean guard post.
"However, the investigation was unable to definitively determine if the four rounds were fired intentionally or by mistake," UNC said in a release uploaded on its Facebook page.
The command invited the North Korean military to provide information on the case, and the North acknowledged receipt of the request. But it has not offered a formal response, UNC added.
South Korea also violated the armistice by responding "with two volleys of gunfire" toward North Korea, according to UNC.
"Based on the investigation's comprehensive findings, UNC personnel will engage in follow-on discussions with both sides to encourage an implementation of measures to prevent a recurrence of Armistice violations," the command said.
Noting that the armistice agreement is meant to minimize the risk of incidents such as gunfire exchange, UNC said it will continue to identify and implement ways to improve conditions for peace and stability on the Korean Peninsula.
This photo, taken on May 22, 2019, shows a South Korean guard post inside the Demilitarized Zone (DMZ) in Cheorwon, Gangwon Province. (Pool photo) (Yonhap)
Following the incident, UNC dispatched a multinational special investigation team for a probe, which was observed by the Neutral Nations Supervisory Commission to ensure transparency and fairness, the command said, adding that the South Korean military fully cooperated with the investigation.
Earlier, South Korean military authorities said they believe the incident was not an intentional provocation based upon evidence secured from various intelligence sources.
On the day of the incident, U.S. Secretary of State Mike Pompeo also said that he believes the incident was "accidental."
It was the first exchange of gunfire between South and North Korea in years. Under the Comprehensive Military Agreement signed in September 2018, the two Koreas agreed to halt all hostile acts against each other, a move aimed at reducing tensions and building trust.
The DMZ, which is about 250 kilometers long and 4 km wide, is one of the world's most heavily fortified borders and has often been a flashpoint between the rival Koreas, though South Korea has been pushing to turn it into a global peace zone.
This photo taken on Sept. 19, 2019, shows a North Korean guard post on the northern side of the Demilitarized Zone viewed from a South Korean observatory in Paju, Gyeonggi Province. (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-05-26--Number of surviving victims of sexual slavery by Japan falls to 17

The woman 's funeral will be held privately in accordance with the wishes of her and her bereaved family , @ @ @ @ @ death , the third such death this year , brought the number of registered surviving @ @ @ @ @ 17 .

SEOUL, May 26 (Yonhap) -- A South Korean woman forced into sexual slavery for Japanese troops during World War II has died, a civic group said Tuesday, bringing down the number of surviving victims to 17.
The woman, whose identity was withheld, died early Monday morning at the House of Sharing, a shelter for sexual slavery victims, euphemistically called "comfort women," in Gwangju, about 40 kilometers southeast of Seoul, according to the Korean Council for Justice and Remembrance for the Issues of Military Sexual Slavery by Japan.
This photo taken on May 25, 2020, shows the House of Sharing in Gwangju, just southeast of Seoul. (Yonhap)
The woman's funeral will be held privately in accordance with the wishes of her and her bereaved family, the council said. Her death, the third such death this year, brought the number of registered surviving victims in South Korea to 17.
Historians say that around 200,000 Asian women, mostly Koreans, were forcibly sent to front-line brothels to provide sex services for Japanese soldiers.
The latest death came amid allegations of donation embezzlement by the operators of the House of Sharing and the Korean council.
ycm@yna.co.kr
(END)


Yonhap News Summary

At the same time , it could be argued that Big Hit 's heavy reliance on BTS poses a risk @ @ @ @ @ .
It presents a fundamental and structural hurdle that the company must address to grow @ @ @ @ @ forward -- to prove that its achievement is n't just tied to the success of @ @ @ @ @ franchise .

The following is the second summary of major stories moved by Yonhap News Agency on Tuesday.
----------------
UNC finds both Koreas violated armistice agreement in DMZ gunfire incident
SEOUL -- The United Nations Command (UNC) said Tuesday that both South and North Korea violated the armistice agreement in their recent exchange of fire inside the Demilitarized Zone (DMZ).
The U.S.-led command, which administers the DMZ and enforces the armistice that halted the 1950-53 Korean War, came to the conclusion after a weekslong investigation into the May 3 incident, where four bullets from the North hit a South Korean guard post, leading South Korean troops to return fire.
----------------
(LEAD) Seoul sees double-digit rise in infections as club cluster balloons
SEOUL -- South Korea's capital saw double-digit growth in new coronavirus cases Tuesday, with most of them linked to a swelling infection cluster traced to nightspots.
Cases in the capital totaled 792 as of 10 a.m., up 16 cases from 776 tallied at 10 a.m. the previous day, according to data from the Seoul metropolitan government.
----------------
FM to attend diplomatic strategy meeting amid Sino-U.S. tensions
SEOUL -- Foreign Minister Kang Kyung-wha will hold an interagency meeting this week to discuss rising tensions between the United States and China, her office said Tuesday, amid concerns that South Korea could find itself in an awkward position if it is pressured to take either side.
The diplomatic strategy session, set for Thursday, comes after U.S. Under Secretary of State Keith Krach revealed last week that the U.S. had already discussed with South Korea its "Economic Prosperity Network" initiative aimed at reducing dependence on China-based supply chains.
----------------
S. Korea to host online seminar on virus responses for S. American countries
SEOUL -- South Korea is hosting an online session this week to share its know-how and experience in tackling the coronavirus pandemic with foreign partners in South America, the foreign ministry said Tuesday.
The web seminar, set to take place early Wednesday, is the third of its kind to be arranged by the government since Seoul launched the task force late last month to respond to growing foreign requests for Korea to share its policy measures against COVID-19.
----------------
Mozambique says 97 North Korean doctors still working in the country
SEOUL -- A total of 97 North Korean doctors are working in Mozambique, the African nation said in a report to the U.N. Security Council, despite U.N. sanctions aimed at cutting off Pyongyang's revenue from labor exports.
"There are currently 97 doctors of various specialties, mainly active in the provision of primary health-care assistance," Mozambique said in the sanctions implementation report submitted to the Security Council's Sanctions Committee on North Korea.
----------------
(News Focus) Amid growing IPO rumblings, Big Hit shifts away from heavy reliance on BTS
SEOUL -- K-pop mega group BTS are undoubtedly a huge financial blessing for their record label-management agency Big Hit Entertainment. Thanks to the septet's smash hit album "Map Of The Soul: Persona" and sellout concerts worldwide, Big Hit posted record sales of 587.2 billion won (US$472.2 million) in fiscal year 2019, with net earnings soaring to 72.4 billion won.
At the same time, it could be argued that Big Hit's heavy reliance on BTS poses a risk for the company as well. It presents a fundamental and structural hurdle that the company must address to grow bigger and remain strong going forward -- to prove that its achievement isn't just tied to the success of a single artist or a franchise.
----------------
(Yonhap Interview) South Korea's first female assembly vice speaker calls for more female seats
SEOUL -- As the first woman to take office this week as vice speaker of the country's National Assembly, four-term lawmaker Rep. Kim Sang-hee has pledged her dedication to shattering a parliamentary glass ceiling for women.
"I want to contribute to expanding female participation in politics. There's still a very solid glass ceiling at every corner (of the National Assembly)," Kim said in an interview with Yonhap News Agency on Monday.
(END)


yna--2020-05-26--FM to attend diplomatic strategy meeting amid Sino-U.S. tensions

Washington has criticized Beijing 's move to enact a new national security law for Hong Kong to effectively ban anti-government @ @ @ @ @ response , warned the U.S. not to hurt its interests , with Chinese Foreign Minister @ @ @ @ @ two countries seemed `` poised at the brink of a new Cold War . ''

By Kim Seung-yeon
SEOUL, May 26 (Yonhap) -- Foreign Minister Kang Kyung-wha will hold an interagency meeting this week to discuss rising tensions between the United States and China, her office said Tuesday, amid concerns that South Korea could find itself in an awkward position if it is pressured to take either side.
The diplomatic strategy session, set for Thursday, comes after U.S. Under Secretary of State Keith Krach revealed last week that the U.S. had already discussed with South Korea its "Economic Prosperity Network" initiative aimed at reducing dependence on China-based supply chains.
The rivalry between Washington and Beijing over global supremacy has also been intensifying over the outbreak of COVID-19, with the Trump administration turning increasingly overt in pinning the blame on China for the virus spread.
"The meeting will be about discussing our approach to complicated key international issues amid the uncertainties caused by the coronavirus pandemic," ministry spokesperson Kim In-chul told a press briefing.
The fresh Sino-U.S. tensions have renewed worries about South Korea falling into the pressure of having to keep a balance between the two major powers -- its ally and biggest trade partner.
Washington has criticized Beijing's move to enact a new national security law for Hong Kong to effectively ban anti-government protests. Beijing, in response, warned the U.S. not to hurt its interests, with Chinese Foreign Minister Wang Yi saying that the two countries seemed "poised at the brink of a new Cold War."
When asked about Seoul's position regarding Hong Kong, the ministry declined to comment.
"The government is closely watching the matter related to Hong Kong. Hong Kong has a close relationship with our country in terms of people-to-people as well as economic exchanges," Kim said.
Foreign Minister Kang Kyung-wha speaks during the second session of a diplomatic strategy coordination meeting in Seoul on Dec. 30, 2019. (PHOTO NOT FOR SALE) (Yonhap)
elly@yna.co.kr
(END)


yna--2020-05-26--(2nd LD) S. Korea looking into 2 suspected cases of Kawasaki-like illness in children

The two cases -- one under the age of 10 and one teenager -- were reported in Seoul for the @ @ @ @ @ to the rare illness Kawasaki , according to the Korea Centers for Disease Control and @ @ @ @ @

(ATTN: ADDS more info in paras 5-6, 12)
SEOUL, May 26 (Yonhap) -- South Korea on Tuesday reported two suspected cases of an unknown inflammatory syndrome in children possibly linked to the new coronavirus for the first time.
The two cases -- one under the age of 10 and one teenager -- were reported in Seoul for the disease whose symptoms are similar to the rare illness Kawasaki, according to the Korea Centers for Disease Control and Prevention (KCDC).
The KCDC said the two children did not test positive for COVID-19.
"One of the two suspected cases currently do not fit the definition of the disease," KCDC's Deputy Director Kwon Jun-wook told a briefing. "However, we are looking into both reported cases."
The disease, named Multisystem Inflammatory Syndrome in Children (MIS-C), first emerged in Britain in late April. Hundreds of children in a total of 13 countries have since been treated in hospitals, with some cases leading to death.
People wearing masks walk at Seoul Station on May 26, 2020, as the quarantine authorities began to require all bus, taxi and airplane passengers to wear masks the same day amid the coronavirus pandemic. (Yonhap)
The cases were first reported in Europe and then in the United States and later in Asian countries, adding to speculation that certain populations may be more genetically susceptible to the illness.
The symptoms of MIS-C include inflammation of the blood vessels, swollen hands and feet, vomiting, abdominal pain and diarrhea, which are similar to those of the Kawasaki disease, a rare illness that occurs in 1 in 10,000 children under the age of 5.
There is no currently no proof that MIS-SC is linked to COVID-19, with the exact cause remaining unidentified, according to the KCDC. The disease remains exceedingly rare.
The KCDC published a case definition for the disease. Children and adolescents under 19 show symptoms of a fever of 38 degrees Celsius or above lasting 24 hours or longer, with inflammation and multisystem (two or more) organ involvement in severe clinical condition requiring hospitalization.
No other pathogenic cause of inflammation should be found, and evidence of COVID-19 infection, or history of COVID-19 exposure within four weeks prior to the onset of illness, should be found, according to the KCDC.
The suspected cases come just a day after the KCDC established a system to detect and analyze MIS-C. Doctors are advised to report to health authorities if they identify patients showing such symptoms.
The country, meanwhile, reported 19 new COVID-19 cases, with 16 being local infections, raising the total caseload to 11,225, according to the KCDC.
khj@yna.co.kr
(END)


yna--2020-05-26--EXO's Baekhyun tops 68 global iTunes charts with solo EP

SEOUL , May 26 ( Yonhap ) -- Baekhyun , a member of K-pop boy band EXO , climbed to @ @ @ @ @ than 60 Apple iTunes charts with his latest solo record , according to the singer @ @ @ @

SEOUL, May 26 (Yonhap) -- Baekhyun, a member of K-pop boy band EXO, climbed to the top spot on more than 60 Apple iTunes charts with his latest solo record, according to the singer's agency Tuesday.
The seven-track EP "Delight" climbed to No. 1 on the Top Album charts run by Apple in 68 countries and regions upon release, SM Entertainment said. The record was released Monday.
The countries included the United States, Japan, France, Australia, Indonesia and Thailand.
Baekhyun also topped QQ Music's Digital Album chart, selling over 100,000 digital copies in China, and was certified "double platinum" by China's largest music chart operator.
The lead track, "Candy," also reached the top spot on real-time streaming charts in South Korea, including Melon and Genie Music, as of Tuesday morning.
The 27-year-old singer's second solo EP was released amid the current hiatus of nine-piece act EXO due to some of its members' military enlistment.
The group's leader, Suho, began his mandatory military service on May 14, with D.O. and Xiumin currently serving their two-year duty.
In this file photo, Baekhyun, a member of South Korean boy band EXO, performs during a showcase for his first mini album, "City Lights," at a concert hall in Seoul on July 10, 2019. (Yonhap)
odissy@yna.co.kr
(END)


yna--2020-05-26--(LEAD) Jin Air, other budget carriers set to resume flights on some int'l routes

Jin Air has suspended all of its international flights since April , as countries strengthened entry restrictions on incoming passengers @ @ @ @ @ the new coronavirus .
But seven domestic routes have been in service despite the virus @ @

(ATTN: RECAST headline, lead; ADDS other airlines' plans in last 6 paras)
SEOUL, May 26 (Yonhap) -- Jin Air Co. and other low-cost carriers plan to resume flights on some international routes next month to cater to incoming passengers and meet cargo-carrying demand.
Jin Air plans to restart flight services on routes from Incheon to Bangkok, Taipei, Narita, Osaka and Vietnam on June 1, to bring overseas Koreans, those studying abroad and businessmen to the country, the company said in a statement.
The company said it will operate one to two flights a week to the five cities from June to also meet cargo-carrying orders, it said.
This undated file photo provided by Jin Air shows a B777-200ER taking off at Gimpo International Airport, just west of Seoul. (PHOTO NOT FOR SALE)(Yonhap)
Jin Air has suspended all of its international flights since April, as countries strengthened entry restrictions on incoming passengers to stem the spread of the new coronavirus. But seven domestic routes have been in service despite the virus outbreak.
It offered flights on 32 international routes to cities that include Guam, Hawaii, Shanghai and Hong Kong before the COVID-19 pandemic hit the airline industry.
Jin Air has 22 B737-800s and four B777-200ERs, all chartered planes. Korean Air Lines Co.'s parent Hanjin KAL Corp. holds a 60 percent stake in the carrier.
From January to March, Jin Air shifted to a net loss of 45.77 billion won (US$37 million) from a net profit of 31.8 billion won, as the coronavirus outbreak cut into its bottom line.
Among other budget carriers, Jeju Air Co. plans to resume flights to Manila, the Philippines, next month. It currently serves three international routes to Tokyo, Osaka and Weihai, sharply down from 82 at the end of 2019.
Air Busan Co. and Air Seoul Inc. are planning to gradually resume flights on international routes from July. The two budget carrier affiliates of Asiana Airlines Inc. have suspended all of their international flights since February.
International flights by T'way, Eastar Jet and Fly Gangwon are not in service. They do not have any specific plans to resume international flights.
The country's budget carriers, except for Eastar, are running most of their domestic routes despite virus fears.
As for full-service carriers, Korean Air Lines Co. and Asiana Airlines plan to resume flights on dozens of long-haul routes next month.
The planned resumption comes as they strive not only to offset decreased passenger travel demand with increased cargo delivery demand but also to prepare for revived travel demand after countries ease entry restrictions on incoming passengers.
kyongae.choi@yna.co.kr
(END)


yna--2020-05-26--(LEAD) Seoul stocks soar to almost 3-month high on hopes of economic reopening

The index got off to a strong start and extended gains throughout the day .
The gains were largely buoyed @ @ @ @ @ coronavirus-incurred economic lockdowns , particularly in Europe , analysts said .

(ATTN: RECASTS headline, paras 1-2; ADDS bond yields at bottom, photo)
SEOUL, May 26 (Yonhap) -- South Korean shares rallied to the highest in almost three months Tuesday, as hopes of major economies reopening boosted investor sentiment. The Korean won rose sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,029.78, spiking 35.18 points, or 1.76 percent, and breaching the psychologically significant 2,000-point mark for the first time since March 6.
Trading volume was high at about 999.5 million shares worth some 12.39 trillion won (US$10.03 billion), with gainers outnumbering losers 664 to 184.
An electronic signboard at a KEB Hana Bank trading room in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) gained 35.18 points, or 1.76 percent, to close at 2,029.78 on May 26, 2020. (Yonhap)
The index got off to a strong start and extended gains throughout the day. The gains were largely buoyed by the rollbacks of the coronavirus-incurred economic lockdowns, particularly in Europe, analysts said.
"The major economies are pushing for economic reopening ahead of the holiday season, especially among the tourist-rich regions in Western Europe," NH Investment & Securities analyst Noh Dong-kil said.
"Spain decided to lift the two-week self-distancing orders for local visitors starting July, while Greece allowed restaurants and cafes to resume operations on condition of keeping a certain distance," he added.
Institutions purchased a net 341.8 billion won, with foreigners scooping up a net 8.9 billion won. Retail investors sold a net 480.2 billion won, ending a three-day buying streak.
Most large caps closed in positive terrain.
Market kingpin Samsung Electronics rose 0.82 percent to 49,250 won, and No. 2 chipmaker SK hynix added 0.61 percent to 81,900 won.
Top automaker Hyundai Motor soared 1.88 percent to 97,800 won, with its smaller affiliate Kia Motors spiking 3.62 percent to 31,500 won.
Internet portal giant Naver slid 0.83 percent to 239,000 won while its local rival Kakao added 0.75 percent to 270,000 won.
The local currency closed at 1,234.30 won per dollar, up 9.90 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 2.4 basis points to 0.839 percent, and the return on the benchmark five-year government bond gained 3.0 basis points to 1.080 percent.
jwc@yna.co.kr
(END)


yna--2020-05-26--Moon to replace protocol secretary, source says

Moon picked Tak Hyun-min , a former Cheong Wa Dae official , to succeed Bahk Sahng-hoon , a career diplomat @ @ @ @ @ according to the source , who asked not to be named .

SEOUL, May 26 (Yonhap) -- President Moon Jae-in plans to replace his protocol secretary and two other presidential aides in charge of public communication, a source said Tuesday.
Moon picked Tak Hyun-min, a former Cheong Wa Dae official, to succeed Bahk Sahng-hoon, a career diplomat serving in the post, according to the source, who asked not to be named.
Tak worked for Moon's presidential election camp and served as assistant secretary at Cheong Wa Dae.
He has planned a number of major events involving Moon.
A file photo of Tak Hyun-min, a former Cheong Wa Dae official. (Yonhap)
Moon also plans to appoint Hang Jung-woo, director of the Chunchugwan press center of Cheong Wa Dae, as secretary for public information, the source said.
Kim Jae-joon, who is working at the Personal Secretary Office of Cheong Wa Dae, will assume the Chunchugwan position, the source added.
lcd@yna.co.kr
(END)


yna--2020-05-26--UNC finds both Koreas violated armistice agreement in DMZ gunfire incident

The U.S.-led command , which administers the DMZ and enforces the armistice that halted the 1950-53 Korean War , came @ @ @ @ @ weekslong investigation into the May 3 incident , where four bullets from the North hit @ @ @ @ @ , leading South Korean troops to return fire .

SEOUL, May 26 (Yonhap) -- The United Nations Command (UNC) said Tuesday that both South and North Korea violated the armistice agreement in their recent exchange of fire inside the Demilitarized Zone (DMZ).
The U.S.-led command, which administers the DMZ and enforces the armistice that halted the 1950-53 Korean War, came to the conclusion after a weekslong investigation into the May 3 incident, where four bullets from the North hit a South Korean guard post, leading South Korean troops to return fire.
But the UNC said it was unable to determine definitely if North Korea opened fire intentionally or by mistake.
Earlier, the South Korean military authorities and the U.S. said they assessed the incident as accidental based upon evidence secured from various intelligence sources.
This photo, taken on May 22, 2019, shows a South Korean guard post inside the Demilitarized Zone (DMZ) in Cheorwon, Gangwon Province. (Pool photo) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-05-26--Two opposition parties to merge ahead of new parliamentary term

`` From its birth , the Future Korea Party has promised to return ( to the umbrella party ) after @ @ @ @ @ Now , the party is about to carry out the promise , '' the party @ @ @ @ @ during the party meeting .

SEOUL, May 26 (Yonhap) -- The minor opposition Future Korea Party (FKP) decided Tuesday to merge with its bigger sister party to form a united opposition front ahead of the 21st National Assembly's launch this week.
At a meeting of its lawmakers and lawmaker-elects, the FKP made the decision to merge with the United Future Party (UFP), the main opposition party.
The former was launched as a satellite organization of the UFP ahead of the April 15 parliamentary elections as part of the latter's election strategy to win more proportional representation seats. The parties won a combined 103 electoral and proportional representation seats.
"From its birth, the Future Korea Party has promised to return (to the umbrella party) after the April 15 elections. Now, the party is about to carry out the promise," the party said in a resolution adopted during the party meeting.
The party also pledged all-out reform efforts, saying, "We will boldly part with the old ways and come up with the kind of politics with which we relieve people's pain and dry their tears."
The merger of the two conservative parties came ahead of the start of the chamber's new four-year term Saturday.
Last week, the ruling Democratic Party merged with its sister organization, the Platform Party, solidifying its parliamentary majority with 177 seats.
Rep. Won Yoo-chul, the leader of the Future Korea Party, speaks during a party meeting at the National Assembly in Seoul on May 26, 2020, (Yonhap)
pbr@yna.co.kr
(END)


yna--2020-05-26--(LEAD) Seoul sees double-digit rise in infections as club cluster balloons

The KCDC official voiced concern over continued transmission among the younger generation , hinting that `` a stronger social distancing @ @ @ @ @ if the speed of transmissions is seen going out of control .

(ATTN: ADDS details in paras 7, 12-14)
SEOUL, May 26 (Yonhap) -- South Korea's capital saw double-digit growth in new coronavirus cases Tuesday, with most of them linked to a swelling infection cluster traced to nightspots.
Cases in the capital totaled 792 as of 10 a.m., up 16 cases from 776 tallied at 10 a.m. the previous day, according to data from the Seoul metropolitan government.
The daily increase is double the eight cases reported Monday and higher than the six cases reported Sunday.
Of the 16 new cases reported Tuesday, 15 were related to the infection cluster originating from the nightlife district of Itaewon.
Authorities have been on alert over local transmission after a 29-year-old tested positive following visits to nightspots in the central Seoul neighborhood in early May.
The case has grown into a infection cluster of 255 as of Tuesday noon, with recent infections involving acquaintances and families of Itaewon clubbers.
More than half of the cases are concentrated in the so-called capital area, including 127 in Seoul, 59 in the surrounding Gyeonggi Province and 45 in Incheon, west of Seoul.
Pedestrians are seen wearing masks at a bus stop in the southern Seoul ward of Seocho on May 25, 2020. (Yonhap)
Most recently, a transmission chain involving seven stages of infections has also been reported, further raising concerns over additional outbreaks in local communities.
Kwon Joon-wook, deputy-general of the Korea Centers for Disease Control and Prevention (KCDC), explained that the cases -- which spread through several restaurants, a karaoke facility and a cram school -- were linked to a 25-year-old private institute instructor who had visited Itaewon in early May.
The patient, based in Incheon, had lied about visiting Itaewon in an epidemiological probe, spurring criticism that he had hindered efforts to track and contain infections.
"It has been confirmed that one patient can trigger many transmissions," Kwon said in a press briefing, urging people to get tested if they have symptoms and to honestly report their movements.
The KCDC official voiced concern over continued transmission among the younger generation, hinting that "a stronger social distancing campaign" may be necessary if the speed of transmissions is seen going out of control.
South Korea eased its social distancing campaign earlier this month and shifted to "everyday quarantine" as the country flattened its infection curve, which peaked in late February.
The Itaewon cluster which emerged just after the move, however, has rekindled worries over another wave of outbreak in the capital area.
South Korea reported 19 new cases Tuesday, bringing the country's total COVID-19 infection caseload to 11,225.
mlee@yna.co.kr
(END)


yna--2020-05-26--(URGENT) UNC says probe failed to confirm if N. Korea's DMZ gunfire intentional or by mistake

(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--2020-05-27--New virus cases spike on steady rise in club-linked infections, another looming cluster

South Korea was on the verge of fully controlling the COVID-19 pandemic on the back of its extensive testing regime @ @ @ @ @ without a comprehensive lockdown , with the daily increase falling to as low as just @ @ @ @ @ .

SEOUL, May 27 (Yonhap) -- South Korea's new virus cases spiked by the most in nearly two months on Wednesday as the country grapples with a steady rise in club-linked transmission and yet another cluster infection looms.
The country reported 40 new cases, including 37 local infections, raising the total coronavirus caseload to 11,265, according to the Korea Centers for Disease Control and Prevention (KCDC).
The daily new virus cases marks the largest in 49 days.
South Korea was on the verge of fully controlling the COVID-19 pandemic on the back of its extensive testing regime and strict social distancing, without a comprehensive lockdown, with the daily increase falling to as low as just two cases three weeks ago.
But new group infections from a popular nightlife district in Seoul splashed cold water on the fight.
Itaewon emerged as a new hotbed for the spread of COVID-19 after a 29-year-old man tested positive for the virus on May 6 following his visits to multiple clubs and bars.
A group of teachers inspects facilities at a middle school in the administrative capital of Sejong, on May 26, 2020, ahead of the re-opening of the school on May 27. (Yonhap)
As of Tuesday, a total of 255 cases have been linked to Itaewon clubs.
Health authorities have been on alert as the Itaewon cluster is leading to other sporadic transmission across the country, including at a logistics center in Bucheon, west of Seoul.
At least 15 cases are traced to e-commerce operator Coupang's logistics center, and more related cases are likely to come down the road, according to city government and health authorities.
Should the daily number of new infections bounce back to above 50, the country may have to consider imposing tougher social-distancing scheme, which was lifted earlier this month. The last time the figure surpassed the threshold was April 8.
The country reported no new additional virus-linked deaths, keeping the death toll at 269.
The total number of people released from quarantine after making full recoveries came to 10,295, up 20 from the previous day, according to the KCDC.
The spike in new virus cases came as more schools reopened, putting health authorities on edge.
South Korea has started to re-open schools in phases, with some 440,000 high school seniors returning to classrooms after more than two months of delay.
A handful of schools, however, were forced to again shut down as students were tested positive of the virus. On Wednesday, students of some grades of middle and elementary schools, as well as kindergartners, will take in-person classes.
Schools will be fully normalized by June 8, but that may be delayed if cluster infections are not brought under control. Some 450 schools already have decided to delay their normal routine.
An official from a public clinic in Seoul disinfects the building to prevent the spread of the new coronavirus on May 26, 2020. (Yonhap)
colin@yna.co.kr
(END)


yna--2020-05-27--Mirae Asset fined for unfair business practices

Mirae Asset has been accused of allegedly awarding contracts to its affiliates , allowing them to pocket profits , the @ @ @ @ @ ) said .

SEJONG, May 27 (Yonhap) -- South Korea's antitrust regulator said Wednesday it fined Mirae Asset Financial Group, a major financial conglomerate, 4.39 billion won (US$3.56 million) for unfair business practices.
Mirae Asset has been accused of allegedly awarding contracts to its affiliates, allowing them to pocket profits, the Fair Trade Commission (FTC) said.
The unfair intra-affiliate trading was worth some 43 billion won, the FTC said.
But the FTC decided not to refer Mirae Asset Chairman Park Hyeon-joo to prosecutors for further investigation.
kdh@yna.co.kr
(END)


yna--2020-05-27--(URGENT) 50 more people released after full recovery from coronavirus, total cured patients at 10,29

(URGENT) 50 more people released after full recovery from coronavirus, total cured patients at 10,295: KCDC


yna--2020-05-27--(URGENT) S. Korea reports no additional virus death, death toll now at 269: KCDC


yna--2020-05-27--(URGENT) S. Korea reports 40 more cases of new coronavirus, total at 11,265: KCDC


yna--2020-05-27--Coronavirus dents major business sectors' Q1 output

The novel coronavirus has infected 5.58 million people and killed more than 350,000 globally since its first case was reported @ @ @ @ @ South Korea 's caseload hovers above 11,200 with its death toll reaching 269 .

SEOUL, May 27 (Yonhap) -- More than half of South Korea's 29 major business sectors suffered setbacks in output in the first quarter due to the new coronavirus outbreak, boding ill for their second-quarter earnings, a market tracker said Wednesday.
CEO Score said aviation, smartphone, display and 14 other industrial sectors saw their production shrink in the January-March period from a year earlier.
The aviation sector was hit hardest with a 35.9 percent tumble as travel demand tanked following lockdowns and business shutdowns sparked by the coronavirus pandemic.
The smartphone industry came next with a 26.7 percent fall, with production of display makers sinking roughly 24 percent.
Global smartphone shipments dipped 13 percent on-year to only 295 million units in the first quarter with industry leader Samsung Electronics Co. suffering an 18 percent on-year drop to 59 million units.
The display sector's output sank approximately 24 percent in the first quarter from a year earlier.
In contrast, the semiconductor industry enjoyed a 34.9 percent spike in first-quarter output as demand surged due to to stay-at-home orders and online teaching.
Gainers of more than 10 percent included delivery companies, petrochemical firms and pharmaceutical makers.
The novel coronavirus has infected 5.58 million people and killed more than 350,000 globally since its first case was reported in China in December. South Korea's caseload hovers above 11,200 with its death toll reaching 269.
This undated file photo shows planes grounded at Incheon Interational Airport, west of Seoul. (Yonhap)
(END)


yna--2020-05-27--Seoul stocks open slightly lower on escalating US-China tensions

The weak start came after a news report suggested the U.S. Treasury Department could freeze assets of Chinese officials and @ @ @ @ @ 's new national security law .

SEOUL, May 27 (Yonhap) -- South Korean stocks opened lower Wednesday on souring Sino-American relations, bucking overnight gains on Wall Street amid hopes of economic reopening.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.49 points, or 0.32 percent, to 2,023.29 in the first 15 minutes of trading.
The weak start came after a news report suggested the U.S. Treasury Department could freeze assets of Chinese officials and businesses in retaliation for China's new national security law.
The U.S. and China are South Korea's two largest trade partners.
In Seoul, most large caps traded lower.
Market bellwether Samsung Electronics lost 0.81 percent and No. 2 chipmaker SK hynix slipped 0.85 percent.
Top automaker Hyundai Motor gained 0.41 percent, while its smaller affiliate Kia Motors shed 0.48 percent.
Leading pharmaceutical firm Samsung BioLogics slid 2.02 percent, with leading chemical maker LG Chem retreating 2.42 percent.
The local currency was trading at 1,234.70 won against the U.S. dollar, down 0.40 won from the previous session's close.
jwc@yna.co.kr
(END)


yna--2020-05-27--Korea's May exports tipped to dip 22.5 pct on pandemic: poll

South Korea has brought the COVID-19 pandemic mostly under control , at least compared to other key trade partners .
@ @ @ @ @ , depends on when the major economies fully normalize their business activities , which may @ @ @ @ @ is made , experts said .

SEOUL, May 27 (Yonhap) -- South Korea's exports are expected to dip nearly 23 percent in May from a year earlier and post a trade deficit for the second consecutive month, a poll showed Wednesday, as the new coronavirus continued to disrupt global supply chains.
The country's outbound shipments are estimated at US$35.4 billion this month, falling sharply from $45.9 billion posted a year earlier, according to the poll by Yonhap Infomax, the financial news arm of Yonhap News Agency. The survey was carried out on eight local brokerage houses.
South Korea suffered its first monthly trade deficit since 2012 in April, snapping 98 straight months of having more exports than imports. Last month, exports fell 24 percent on-year.
Customs data showed that the country's outbound shipments have already fallen 20.3 percent on-year in the first 20 days of May.
In 2019, South Korea's annual exports fell by more than 10 percent due to growing protectionism in the face of the Sino-American trade row, coupled with the falling prices of chips.
Outbound shipments of chips, a key item for exports, are expected to rise 13.4 percent on-year in May.
The growth, however, is expected to be offset by the sharp decrease in sales of cars and petrochemical goods, the data showed.
Exports of cars are likely to fall 58.6 percent this month over the period, with those of petrochemical products decreasing 68.6 percent, due mainly to weak demand and falling global oil prices.
South Korea has brought the COVID-19 pandemic mostly under control, at least compared to other key trade partners. A full-fledged recovery, however, depends on when the major economies fully normalize their business activities, which may not come until a vaccine is made, experts said.
The country will release its official exports data for May on Monday.
colin@yna.co.kr
(END)


yna--2020-05-27--Samsung to sponsor esports company with gaming monitors

`` At the highest level of professional esports , the right technology and equipment mark the difference between winning and @ @ @ @ @ Marsh , CEO of T1 .
`` We are thrilled to partner with Samsung to @ @ @ @ @ leading gaming monitor technology . ''

SEOUL, May 27 (Yonhap) -- Samsung Electronics Co. said Wednesday it has signed a partnership with a global esports organization to boost its presence in the gaming monitor market.
Samsung said it will sponsor its latest display products at T1 Entertainment & Sports (T1), a joint venture between South Korea's leading mobile carrier SK Telecom Co. and U.S. entertainment firm Comcast Spectacor LLC.
Under the partnership, T1 players will practice using Samsung's curved gaming monitors, the Odyssey G9 and G7, at their training facility in Seoul, according to Samsung. The gamers will also wear uniforms displaying the logo of Odyssey when participating in esports events.
"Our lineup of Odyssey monitors provides the latest in gaming monitor technology with lightning-fast speed, comfortable curvature and a sleek design, offering professional esports gamers the competitive edge they need to make every split second count," said Ha Hye-sung, a senior vice president of Samsung's visual display business.
In this photo provided by Samsung Electronics Co. on May 27, 2020, T1's "League of Legends" team poses for a photo with Samsung's Odyssey curved gaming monitors. (PHOTO NOT FOR SALE) (Yonhap)
Samsung said its Odyssey monitors provide a "powerful combination of high-performance 1000R curvature, QLED picture quality, rapid 1 ms response time and 240 Hz refresh rate for the most immersive gaming experience."
The tech titan said the Odyssey G9 and G7 will be launched in South Korea next month.
T1, which legally operates as SK Telecom CS T1 Co., was founded last year and runs 10 teams in the competitive gaming sector in online games like "League of Legends," "Fortnite" and "Overwatch."
"At the highest level of professional esports, the right technology and equipment mark the difference between winning and losing," said Joe Marsh, CEO of T1. "We are thrilled to partner with Samsung to equip our players with the leading gaming monitor technology."
According to market researcher IDC, the global gaming monitor market was projected to grow from US$3.6 billion this year to $4.5 billion in 2023.
kdon@yna.co.kr
(END)


yna--2020-05-27--S. Korea's GDP ranks 10th worldwide in 2019

The United States topped the global GDP list with $ 21.43 trillion last year , trailed by China with $ @ @ @ @ @ $ 5.08 trillion .
Germany , Britain and France followed with $ 3.85 trillion , @ @ @ @ @ 2.71 trillion , respectively .

SEOUL, May 27 (Yonhap) -- South Korea's gross domestic product (GDP) ranked 10th in the world in 2019, down two notches from the previous year, data showed Wednesday.
Asia's fourth-largest economy registered US$1.64 trillion in nominal GDP last year, according to the data from the Organization for Economic Cooperation (OECD).
It marked South Korea's first ranking drop since the 2008 global financial crisis. The OECD analyzed 38 advanced and emerging economies.
South Korea's fall in GDP rankings came as its nominal economic growth rate stood at 1.4 percent in 2019, the third-lowest among 47 countries surveyed by the Paris-based organization.
GDP, the broadest measure of an economy's performance, refers to the total value of goods and services produced within the economy in a given period.
The United States topped the global GDP list with $21.43 trillion last year, trailed by China with $14.34 trillion and Japan with $5.08 trillion. Germany, Britain and France followed with $3.85 trillion, $2.83 trillion and $2.71 trillion, respectively.
South Korea's per capita GDP dropped to $31,682 last year from $33,340 in 2018, but its global ranking remained unchanged at 22nd among 35 major economies, according to the data.
(END)


KOSDAQ 728.26 DN 0.85 points (open)


KOSPI 2,027.90 DN 1.88 points (open)


yna--2020-05-27--Military football club set to welcome back injured young guns

Starting in 2020 , every K League club must start at least one U-22 player and put one other U-22 @ @ @ @ @ .
If teams do not include U-22 players , then they can only carry 16 @ @ @ @ @ instead of the usual 18 .
Those undermanned teams are only allowed two substitutions per @ @ @ @ @ typical three .

By Yoo Jee-ho
SEOUL, May 27 (Yonhap) -- Riding a two-match winning streak, military football club Sangju Sangmu will receive some welcome reinforcement this week in the form of their youngsters.
After dropping the opening match, Sangju have won their past two matches in the K League 1 with a depleted roster. For all three matches, they were without their three under-22 players, forwards Oh Se-hun, Jeon Se-jin and Kim Bo-sub, who sustained injuries in a car accident while riding a team van to a coronavirus testing site on April 29. It happened 10 days before the start of the new season.
Sangju announced Wednesday that some of the injured players will be available for Friday's match against Daegu FC.
This photo, provided by the Korea Professional Football League on May 26, 2020, shows Sangju Sangmu midfielder Kang Sang-woo in action in a K League 1 match. (PHOTO NOT FOR SALE) (Yonhap)
Though the club did not name anybody, Kim and Jeon, who were discharged from hospital last week, are likely the ones who will suit up for Friday.
The three players were initially ruled out for at least six weeks. But Kim and Jeon returned to their base just three weeks after the accident and began working out on their own. They rejoined the club earlier this week.
Starting in 2020, every K League club must start at least one U-22 player and put one other U-22 player on the substitution list. If teams do not include U-22 players, then they can only carry 16 players for each match, instead of the usual 18. Those undermanned teams are only allowed two substitutions per match, rather than the typical three.
Without his U-22 players available, Sangju head coach Kim Tae-wan had to bite the bullet and take 16 players to each of the first three matches. Sangju, perhaps predictably, lost the season opener against Ulsan Hyundai FC by 4-0, but they bounced back to beat Gangwon FC and then Gwangju FC in back-to-back weeks, both by the score of 2-0.
Midfielder Kang Sang-woo has scored in each of the past two matches to carry Sangju, while former national team midfielder Moon Seon-min, a runner-up in league MVP voting last year, has contributed a goal in his two appearances.
Daegu will be looking for their first win of 2020 after posting two draws and a loss through last week.
This photo, provided by the Korea Professional Football League on May 16, 2020, shows Sangju Sangmu players celebrating their 2-0 victory over Gangwon FC in their K League 1 match at Sangju Civic Stadium in Sangju, 270 kilometers southeast of Seoul. (PHOTO NOT FOR SALE) (Yonhap)
jeeho@yna.co.kr
(END)


Wednesday's weather forecast

SEOUL , May 27 ( Yonhap ) -- The following is the weather forecast for South Korea 's 12 major @ @ @ @ @ .


yna--2020-05-27--Dollar opens at 1,230.5 won DN from 1,234.3 won


yna--2020-05-27--Hyundai, Kia rank 2nd in global EV market in Q1

Tesla was also the world 's top marketer of EVs and plug-in hybrid EVs in the first quarter , trailed @ @ @ @ @ Hyundai and Kia placed fifth in the category .

SEOUL, May 27 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. became the fourth-largest seller of electric vehicles (EVs) globally in the first quarter of the year, industry data showed Wednesday.
Hyundai and Kia sold a combined 24,116 EVs in the January-March period, accounting for 8 percent of the global market, according to the data from the Korea Automobile Manufacturers Association.
U.S. electric carmaker Tesla Motors Inc. clinched the top position with sales of 88,400 units, or 29 percent of the global EV market.
Renault-Nissan came next with 39,355 (13 percent), followed by Volkswagen Group with 33,846 (11 percent). China's BYD Auto Co. placed fifth with 18,834 (6 percent).
This image provided by Hyundai Motor Group shows the Kona Electric. (PHOTO NOT FOR SALE) (Yonhap)
South Korean automakers' EV exports came to 20,173 in the three-month period, up nearly 26 percent from a year earlier.
Tesla was also the world's top marketer of EVs and plug-in hybrid EVs in the first quarter, trailed by Volkswagen and Renault-Nissan. Hyundai and Kia placed fifth in the category.
The world's leading EV maker was the top seller in South Korea with 4,070 units in the first quarter, taking up 46 percent of the local market. Sales by Hyundai, Kia and other local makers fell 34 percent on-year to 3,945.
Hyundai and Kia, which together form the world's fifth-biggest carmaker by sales, ranked sixth in the global EV market in 2019, with sales of about 84,200.
(END)


yna--2020-05-27--(LEAD) More students to return to school despite virus risk

The resumption comes as the health authorities are on alert over local transmissions after a 29-year-old tested positive following visits @ @ @ @ @ Seoul neighborhood of Itaewon in early May .
The case has grown into an infection @ @ @ @ @ Tuesday at noon , with recent infections involving acquaintances and family members of Itaewon clubbers @

(ATTN: UPDATES with some schools' decisions to reschedule reopening in paras 2, 11)
By Woo Jae-yeon
SEOUL, May 27 (Yonhap) -- More than 2 million additional South Korean students will return to school Wednesday as parents worry about a recent rise in local transmissions of the new coronavirus from a club cluster infection and unknown sources.
Some 450 schools and kindergartens across the country decided to postpone their reopenings as of Tuesday due to concerns over the spread of COVID-19, according to the education ministry.
The reopening of schools is considered a test for the government's "everyday life quarantine" scheme, which was introduced May 6. The scheme is designed to help people learn to live with the virus and resume normal life amid relaxed social distancing.
The students affected by the second phase of reopening are the two lowest grades of elementary school, kindergarten students, middle school seniors and second-year high school students. The estimated number of students is 2.37 million.
Last week, 440,000 high school seniors returned to school, more than two months behind schedule due to the COVID-19 pandemic. The country's academic year begins in March.
Teachers disinfect toys at Hanil Kindergarten in Suwon, south of Seoul, on May 26, 2020, one day ahead of the reopening of kindergartens nationwide. (Yonhap)
The resumption comes as the health authorities are on alert over local transmissions after a 29-year-old tested positive following visits to nightspots in the central Seoul neighborhood of Itaewon in early May. The case has grown into an infection cluster of 255 as of Tuesday at noon, with recent infections involving acquaintances and family members of Itaewon clubbers.
While the first phase is considered to have gone off without a major problem, there is pervasive fear about potential COVID-19 outbreaks among young students.
There has been a spate of coronavirus infections involving students of various ages.
Earlier this week, a 6-year-old kindergarten boy was infected with the virus from his teacher. In another case, a teacher at an elementary school was found to have tested positive for the virus.
Despite the government's confidence in managing the pandemic, parents and teachers are still worried that young children could struggle to keep quarantine and social distancing rules.
A total of 451 schools and kindergartens across the country -- 15 in Seoul, 251 in Bucheon, west of Seoul, and 185 in North Gyeongsang Province -- had rescheduled their reopenings to later dates and more schools are expected to follow suit. With this, the actual number of students returning to school Wednesday is expected to be lower than 2.37 million.
To calm parents' anxiety, the Ministry of Education increased the number of permissible absent days so that students can stay at home without worrying about school attendance.
Also, schools have more leeway over setting up schedules to minimize classroom crowding, such as alternating school days for different classes. High school seniors go to school every day to prepare for the national university entrance exam slated for November.
A teacher attaches tape on the floor of a corridor to show movement paths for students at Dongho Elementary School in Seoul on May 25, 2020, two days ahead of the reopening of primary schools for first and second graders nationwide. (Yonhap)
By grade, high school classrooms will run at two-thirds of their full attendance, while the figure is one-third for middle and elementary schools.
Schools in areas with more infections are strongly advised not to fill classrooms with more than two-thirds of students.
The ministry also offers staffing and logistics assistance to schools to help run after-school day care programs smoothly for working parents.
To monitor and tackle potential outbreaks at schools, the ministry is in close coordination with the Korea Centers for Disease Control and Prevention (KCDC) and provincial education offices.
The government is also expected to unveil a set of revised quarantine and disinfection guidelines later in the day, including details on mask wearing at schools.
jaeyeon.woo@yna.co.kr
(END)


yna--2020-05-27--(EDITORIAL from Korea JoongAng Daily on May 27)

However , after suspicions arose over the crash — such as the allegation that it had been plotted by the @ @ @ @ @ a predecessor of the current National Intelligence Service , in the conservative administration one month @ @ @ @ @ 1987 — the Roh Moo-hyun administration launched a reinvestigation of the case and reaffirmed that @ @ @ @ @ was committed by Kim , the North Korean spy .
Then , does Rep. Sul @ @ @ @ @ denial of the conclusion by the liberal administration ?

Obsessed with the past
After winning a super majority of 177 seats in the National Assembly in the April 15 parliamentary elections, the ruling Democratic Party (DP) is increasingly looking to the past. Following an attempt to reverse the Supreme Court's ruling against former prime minister Han Myeong-sook for bribery through a retrial of the case, a senior lawmaker of the DP has demanded a reinvestigation of the crash of KAL Flight 858, which exploded in mid-air in 1987 en route to Seoul from Baghdad, killing all 115 passengers and crew on board.
In a radio interview on Monday, Rep. Sul Hoon, a ranking member of the ruling party, raised questions about the results of the government's investigation of the case in 2007, which held North Korean agent Kim Hyun-hee accountable for the crash. The jumbo jet exploded over Myanmar and some fragments were discovered in the Andaman Sea near the Southeast country.
However, after suspicions arose over the crash — such as the allegation that it had been plotted by the National Security Planning Agency, a predecessor of the current National Intelligence Service, in the conservative administration one month before the presidential election in 1987 — the Roh Moo-hyun administration launched a reinvestigation of the case and reaffirmed that the midair explosion and crash was committed by Kim, the North Korean spy. Then, does Rep. Sul's allegation translate into a denial of the conclusion by the liberal administration?
That's not all. In a political event at the National Cemetery in Seoul, Lee Soo-jin, a lawmaker-elect of the DP, stressed the need for the government to "remove the graves of collaborators with Japan during the colonial days" from the cemetery. She vowed to enact a bill that will enable the government to do that.
Her comments are shocking. In an extraordinary meeting in the Blue House on Monday, President Moon Jae-in compared the Covid-19 pandemic to a "wartime situation" and called for a massive fiscal input to recover. Given such urgent challenges, can the ruling party afford to be stuck in the past?
The ruling camp's obsession with the past only helps fuel partisan conflict. The DP must not forget that if it digs up past issues, that will provoke other parties to do the same in the future.
The DP must remember the bitter memories of then-ruling Uri Party, which collapsed shortly after snatching a sweet victory in the parliamentary elections in 2004 due to its relentless push for the revisions of the national security law. As a result of its obsession with an ideological approach by hardliners, the party fell apart shortly thereafter.
As history repeats itself, arrogance can ruin anyone. We are deeply concerned to see such a mentality re-emerge immediately after the DP's victory in the legislative elections. Members of the party must not forget Chairman Lee Hae-chan's confession that "we pushed our way over the top at the time regardless of what others think."
(END)


yna--2020-05-27--(EDITORIAL from Korea Times on May 27)

(EDITORIAL from Korea Times on May 27)

From a broader perspective , a recent eye-catching survey by the Korea Enterprises Federation cited more and more deregulation as @ @ @ @ @ priority .
Among 222 business and economic professors surveyed , 73.4 percent cited abolishing high @ @ @ @ @ entrants , and deregulation for new industries as the top tasks for the Assembly .
@ @ @ @ @ reform , followed by 33.8 percent who indicated a stronger welfare and social safety net @ @ @ @ @ .
Also , 14.4 percent of respondents said that reform of chaebol was necessary .

Hopes for new Assembly
: Legislators should focus on economic recovery
The 21st National Assembly will host legislators chosen by voters who quintessentially called for generational and political changes, and a bipartisan floor for a "New Korea."
Because the 20th Assembly that wraps up Friday has done one of the worst jobs in passing legislation ― just 39 percent of the 25,000 bills registered ― there is a hope that the incoming legislature will do better. This invariably veils Korea's desperation to keep the economy humming along amid the COVID-19 pandemic.
President Moon Jae-in is moving aggressively to meet with the floor leaders of the ruling Democratic Party of Korea and the main opposition United Future Party, Thursday, to seek cooperation on a myriad of economic issues. One of the foremost topics they can discuss will invariably be the passage of a third supplementary budget by the new Assembly, expected to be at least 30 trillion won ($24.2 billion), required to ease the unemployment crisis, and revive the economy.
Negotiations to form the new Assembly are underway, but there are concerns that the two major parties are wrangling over which party helms the crucial budget and judiciary committees and thereby delaying any meaningful activity at the new parliament.
If the new legislators bear in mind the creeping sense of gloom around Korea Inc., they will surely stop dragging their feet on procedural issues.
From a broader perspective, a recent eye-catching survey by the Korea Enterprises Federation cited more and more deregulation as the legislative body's top priority. Among 222 business and economic professors surveyed, 73.4 percent cited abolishing high entrance barriers for new business entrants, and deregulation for new industries as the top tasks for the Assembly. About 57 percent selected labor reform, followed by 33.8 percent who indicated a stronger welfare and social safety net as being of key importance. Also, 14.4 percent of respondents said that reform of chaebol was necessary.
These are no longer visionary statements but economic realities called for in this pandemic world. Fortunately, the administration is on the same page ― President Moon in his special third year anniversary speech said he would turn Korea into a "digital powerhouse" and the "world factory of high-tech industries."
The new Assembly should get to work promptly and deal urgently with bills that will facilitate deregulation and the transition of the Korean economy in the face of the encroaching economic crisis.
(END)


yna--2020-05-27--(EDITORIAL from Korea Herald on May 27)

(EDITORIAL from Korea Herald on May 27)

The Korea Economic Research Institute , a private think tank , recently forecast that levies collected from local firms would @ @ @ @ @ first time in six years .
Korea 's corporate tax revenue rose to 72 trillion @ @ @ @ @ trillion won in 2015 .
This year , however , the amount is estimated to @ @ @ @ @ 12 percent lower than the government 's projection of 64.4 trillion won , according to @ @ @

Bloated spending
: Tax increase needs to be preceded by restructuring fiscal expenditure
Government officials and a state-run think tank have recently raised the need to increase taxes, reflecting their concerns about the country's mounting fiscal deficit.
In a report released last week, the Korea Development Institute said now is the time to begin debates on tax hikes to increase state revenues.
Vice Finance Minister Kim Yong-beom said earlier this month it is necessary to strengthen efforts toward expanding tax bases. On the heels of the remarks came a suggestion by Kim Sang-jo, the chief presidential secretary for policy, that the issue of tax increase could be addressed through the process of public discussion.
The need for tax increase has been raised on and off in the past. This time, the discourse seems to carry more urgency, as government spending is ballooning at a pace never seen before amid a continuous decline in tax revenues.
On top of the 2020 regular budget set at a record high of 512.3 trillion won ($413.9 billion), the government has implemented two supplementary budgets worth 23.9 trillion won combined so far this year to help cushion the economic impact of the coronavirus outbreak and provide relief funds to all households.
President Moon Jae-in's administration is moving to draw up a third extra budget within the year, which is expected to reach up to 40 trillion won.
In contrast with rising fiscal expenditure, the country's overall tax revenue fell 11 percent on-year to 69.5 trillion won in the first quarter of 2020.
Corporate tax revenue is on a particularly steep downward trend with most companies suffering a plunge in profits due to reduced demand amid the coronavirus crisis.
The Korea Economic Research Institute, a private think tank, recently forecast that levies collected from local firms would decline this year for the first time in six years. Korea's corporate tax revenue rose to 72 trillion won in 2019 from 45 trillion won in 2015. This year, however, the amount is estimated to reach 56.5 trillion won, 12 percent lower than the government's projection of 64.4 trillion won, according to the KERI.
The government is planning to issue state bonds worth more than 100 trillion won this year to help finance the regular budget and additional spending plans.
In the January-March period, the government reported a record quarterly fiscal deficit of 55.3 trillion won, which surpassed the annual deficit of 2019 at 54.4 trillion won.
This bloated budget deficit translates into a spike in national debt.
Korea's national debt is projected to exceed 850 trillion won by the end of this year, accounting for about 45 percent of its gross domestic product -- both figures highest on record.
Officials in the Moon administration and ruling party lawmakers have argued the country still has considerable room to expand fiscal spending.
By any standards, however, it is alarming that the national debt-to-GDP ratio will have increased nearly 8 percent just over a year to the end of 2020.
The estimated ratio for this year is higher than the 39.8 percent the government envisages in its fiscal policy plan for 2019-2023. The plan calls for keeping the ratio at 42.1 percent for 2021 and 44.2 percent for 2022.
With its currency not among key reserve currencies, a rise in the country's debt-to-GDP ratio could result in a downgrading of its sovereign credit rating, which would increase borrowing costs for public entities and private companies as well.
During an annual meeting on fiscal strategy Monday, President Moon dismissed concerns about the country's fiscal soundness, calling for "wartime-like" aggressive fiscal stimulus to cope with the economic fallout from the COVID-19 pandemic.
His emphasis on the need to mobilize all fiscal capabilities is likely to heighten calls for tax hikes to reduce ballooning budgetary deficits.
But it would be difficult to actually raise taxes.
Large corporations and high-income earners, from whom most of levies are collected, could hardly be squeezed into paying more taxes. Increasing taxes from working-class people and raising value-added taxes would be an inconceivable option for the ruling party in the lead-up to the next presidential election in 2022.
It is certainly necessary to increase fiscal spending to cope with difficulties caused by the coronavirus pandemic. But it should also be noted that much of the increased expenditure, implemented or planned, is designed to fund populist programs unrelated to the need to cushion the impact of COVID-19.
Discussion on tax increase should be preceded by more serious efforts to streamline welfare programs and readjust the structure of fiscal spending.
kokobj@yna.co.kr
(END)


yna--2020-05-27--S. Korea to promote open trade to overcome pandemic

In the face of such challenging times , the trade minister said countries must reconnect with each other by allowing @ @ @ @ @ seeking to revitalize the global trade of goods and services .

By Kang Yoon-seung
SEOUL, May 27 (Yonhap) -- South Korea's trade minister said Wednesday the country will continue to promote open trade amid growing protectionism in the aftermath of the new coronavirus pandemic, calling for major trade partners to join efforts to normalize the virus-hit global supply chains.
"In the post-pandemic era, the global environment for trade and commerce will change drastically," Trade Minister Yoo Myung-hee said during a videoconference with experts around the globe, hosted by the Korea International Trade Association (KITA).
"Each country will move toward economic nationalism, and the global supply chain will also be reorganized. The world will also experience the transition to the digital economy," Yoo added.
This file photo, provided by the Ministry of Trade, Industry and Energy on May 20, 2020, shows Trade Minister Yoo Myung-hee. (PHOTO NOT FOR SALE) (Yonhap)
In the face of such challenging times, the trade minister said countries must reconnect with each other by allowing business officials to travel while seeking to revitalize the global trade of goods and services.
The remarks came as the COVID-19 pandemic, which has infected at least 5.5 million across the globe, has virtually suspended international travel, dragging down export-oriented economies such as South Korea.
During the conference, Deputy Director-General Alan Wolff of the World Trade Organization (WTO) echoed the view, saying the global body will make efforts to promote the travel of essential workforce while abolishing unnecessary trade regulations.
South Korea reiterated that the world should establish new guidelines under which countries can maintain normal trade even in the case of emergencies, such as the coronavirus pandemic.
The country's exports are expected to dip nearly 23 percent in May from a year earlier and to post a trade deficit for the second consecutive month, a poll showed earlier.
Outbound shipments of South Korea had fallen 24 percent on-year in April, when it suffered the first monthly trade deficit since 2012.
colin@yna.co.kr
(END)


yna--2020-05-27--S. Korean women's Olympic football qualifiers rescheduled for Feb. 2021

South Korea and China were supposed to meet in the playoffs on March 6 and 11 , but with both @ @ @ @ @ pandemic , the AFC on Feb. 28 moved the matches to April 9 and 14 @ @ @ @ @ , the matches were pushed further back to June 4 and 9 .

By Yoo Jee-ho
SEOUL, May 27 (Yonhap) -- South Korean women's Olympic football qualifying matches against China have been rescheduled for February next year, following the one-year postponement of the 2020 Tokyo Summer Games due to the coronavirus pandemic.
The Asian Football Confederation (AFC) announced Wednesday that, in consultation with FIFA, it has approved proposals by both South Korea and China to play their two-legged Olympic qualifiers on Feb. 19 and 24, 2021.
The winner will book a spot at the Tokyo Olympics, which will be held from July 23-Aug. 8 next year, instead of the original slot for July 24-Aug. 9, 2020.
In this file photo from Feb. 9, 2020, South Korean players celebrate their 3-0 victory over Vietnam in their Group A match in the third round of the Asian qualifying for the 2020 Tokyo Olympics at Jeju World Cup Stadium in Seogwipo, Jeju Island. (Yonhap)
South Korea and China were supposed to meet in the playoffs on March 6 and 11, but with both countries heavily affected by the pandemic, the AFC on Feb. 28 moved the matches to April 9 and 14. Then on March 9, the matches were pushed further back to June 4 and 9.
And after the Tokyo Olympics got pushed back by a year in late March, the AFC, South Korea and China began discussing new dates for the qualifying matches.
"The latest decision was confirmed to allow both member associations to have sufficient preparation time, considering the challenging and unprecedented circumstances brought about by the pandemic," the AFC said in its statement.
In this file photo from Feb. 9, 2020, South Korea head coach Colin Bell directs his players against Vietnam in the teams' Group A match in the third round of the Asian qualifying for the 2020 Tokyo Olympics at Jeju World Cup Stadium in Seogwipo, Jeju Island. (Yonhap)
The winner of this two-legged showdown will qualify for the Olympics. In the other playoff series that has already been played, Australia crushed Vietnam 7-1 in the aggregate score to book their spot first.
Coached by Englishman Colin Bell, South Korea are ranked 18th in the world, three spots below China. In 37 all-time meetings, South Korea have four wins, six draws and 27 losses against China.
Women's football joined the Olympics in 1996, and South Korea, dubbed the Taeguk Ladies, have never played in the event.
In this file photo from Feb. 9, 2020, Ji So-yun of South Korea (C) is carried by her teammates after scoring a goal against Vietnam in their 3-0 victory in the teams' Group A match in the third round of the Asian qualifying for the 2020 Tokyo Olympics at Jeju World Cup Stadium in Seogwipo, Jeju Island. (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-05-27--2.8 magnitude quake hits southern region

`` Those in nearby regions could feel the ground shake , '' the agency said , calling on citizens to @ @ @ @ @ has been reported .

SEOUL, May 27 (Yonhap) -- A 2.8 magnitude earthquake hit the southern county of Gimcheon on Wednesday, the state weather agency said.
The quake occurred at 7:23 p.m., 17 km southwest of Gimcheon, North Gyeongsang Province, at a depth of 6 km, the Korea Meteorological Administration (KMA) said. The epicenter was at 36.01 degrees north latitude and 128.01 degrees east longitude.
Gimcheon is located 230 kilometers south of Seoul.
"Those in nearby regions could feel the ground shake," the agency said, calling on citizens to be careful. No damage has been reported.
This image provided by the Korea Meteorological Administration shows the epicenter of a 2.8 magnitude earthquake that hit Gimcheon, North Gyeongsang Province, on May 27, 2020. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)