The Bank of Korea (BOK) will deliver an additional $2 billion to local banks this week in its third injection of US banknotes under a bilateral currency swap arrangement with the US Federal Reserve aimed at preventing a foreign exchange liquidity crunch here, the bank said Tuesday. The BOK held an online auction to provide up to $4 billion in seven-day debt and 84-day loans. Bids undershot the BOK target of $3.5 billion in 84-day loans and $500 million in seven-day loans. Successful bidders

Economy April 14, 2020

North Korea is likely to scale down celebrations for the birthday of late founder Kim Il-sung this week as the country is in an all-out fight against the new coronavirus, a unification ministry official said Tuesday. The North is to mark the 108th birthday anniversary of the grandfather of current leader Kim Jong-un on Wednesday, one of the biggest national holidays for the reclusive communist state that is usually celebrated with various events, including a military parade. This year's anniv

North Korea April 14, 2020

South Korea's domestic stock investment funds are enjoying a recovery in their returns on a recent market rebound, data showed Tuesday. Domestic equity funds with a net asset value of 1 billion won ($821,000) or more yielded an average 7.59 percent in the week ending Monday, according to the data from market tracker FnGuide. The number outperformed an average 5.5 percent return for overseas stock investment funds and 0.22 percent for local bond funds over the cited period. The average yield

Economy April 14, 2020

The Cabinet on Tuesday approved a revised ordinance on advance payments in state contracts to help companies damaged by the coronavirus pandemic, officials said. Under the revised ordinance, the government will be allowed to make up to 80 percent of a total contract sum in an advance payment from late this month, the Ministry of Economy and Finance said in a statement. Currently, the government is allowed to make up to 70 percent of a total contract sum in an advance payment, officials said.

Economy April 14, 2020

President Moon Jae-in stressed the importance of close international coordination on both antivirus quarantine and the economy Tuesday in the face of a shift in global order. He was speaking at a weekly Cabinet meeting hours before participating in a video summit on COVID-19 with the leaders of China, Japan and 10 ASEAN member states. "Quarantine cooperation and economic cooperation are two sides of the same coin," he said. "The government will cooperate actively with the entir

Politics April 14, 2020

A series of live concerts K-pop boy band BTS performed since 2014 will be shown for free on YouTube this weekend to entertain fans at home in this time of coronavirus self-quarantine. The band's management agency, Big Hit Entertainment, said a total of eight concerts and fan meeting events by the boy band will be broadcast on the BTS channel on YouTube, BANGTANTV, on Saturday and Sunday under the title "BTS Online Concert Weekend." The first set of four performances, including "

K-pop April 14, 2020

An Army soldier has tested positive for the new coronavirus after having fully recovered from the disease, the defense ministry said Tuesday. Including the soldier, based in Seoul, two service members are currently in treatment for COVID-19, according to the ministry. The military has so far reported 39 infections in barracks. All of the others have fully recovered. As a preventive measure, around 1,200 service personnel are being quarantined at their bases, the ministry said. South Korea r

Defense April 14, 2020

The number of COVID-19 relapses in South Korea has steadily risen in the past few days, putting health authorities to the test again in the fight against the virus, though the country's new infections have slowed. According to the Korea Centers for Disease Control and Prevention (KCDC), 116 people had been confirmed as relapsed COVID-19 cases as of Monday, up three from a day earlier. Health authorities are striving to find the cause of such cases that could possibly lead to a new source of in

Social Affairs April 14, 2020

An American soldier stationed in South Korea died of "natural causes" last week, the US military said Tuesday, noting that his death is unrelated to the coronavirus. Sgt. Timothy J. Pressley of the 2nd Infantry Division died on Friday at St. Mary's Hospital in the city of Pyeongtaek, located near his base, Camp Humphreys, 70 kilometers south of Seoul, US Forces Korea (USFK) said in a release. Pressley, a 54-year-old petroleum supply specialist, joined the US Army in 2007, and this w

Defense April 14, 2020

The Army is pushing to set up a research institute for next-generation technologies, such as artificial intelligence and drones to expedite the development of "next-generation game changers," officers said Tuesday. The military recently launched a preliminary feasibility test on the establishment of its own research center and has been looking into foreign cases, according to the officers. Stressing a paradigm shift in terms of warfare on future battlefields, the Army has been worki

Defense April 14, 2020

4·15 총선을 하루 앞두고 투표를 하다가 신종 코로나바이러스 감염증(코로나19)에 걸리지 않을까 하는 우려가 커지고 있다. 혹시 투표소에서 코로나19 감염자와 마주치는 건 아닌지, 책상이나 도장 등에 묻어있는 감염자의 비말(침방울)을 만져 감염될 위험이 있는 건 아닌지 걱정이 쏟아진다. 14일 의료계에 따르면 투표소에서 코로나19 감염자의 비말이 묻은 물체를 만진 뒤 손을 입에 갖다 대는 행동 등을 하면 감염될 수 있다. 코로나19는 주로 비말로 전파되기 때문에 마스크를 착용하면 비말이 상대에 튀는 것을 막을 수 있다. 하지만 마스크 틈새로 빠져나간 일부 비말이 바닥이나 물체 표면에 떨어질 수 있어 주의해야 한다. 코로나19 바이러스가 물체 표면에서 얼마나 생존할 수 있는지는 아직 연구가 진행 중이지만 플라스틱이나 종이, 스테인리스 등에서는 수일간 생존하는 것으로 알려져 있다. 홍콩에서는 코로나19 바이러스가 지폐, 유리 등의 표면에서는 4일, 플라스틱이나

한국어판 April 14, 2020

The United States is grateful to South Korea for supplying COVID-19 testing kits, a senior US government official said Monday ahead of the planned arrival of a shipment of Korean-made kits. Two South Korean companies were set to load their test kits on a US cargo flight Tuesday (Seoul time) after getting interim approval from the US Food and Drug Administration. "We are grateful to our Republic of Korea partners for assisting the United States in procuring COVID-19 tests, and for its sup

Foreign Affairs April 14, 2020

An Army soldier accused of involvement in a high-profile sexual blackmail case has been referred to the military prosecution, officials said Tuesday. The private first class, whose identity has been withheld, was arrested last week on suspicion of distributing content of women performing gruesome sex acts under coercion with the Nth room case's prime suspect, Cho Ju-bin. After an initial investigation, military police referred him to the military prosecution with a recommendation that he be i

Social Affairs April 14, 2020

The United States supports the people of North Korea and other countries vulnerable to the COVID-19 pandemic, the White House National Security Council said Monday, underscoring Washington's commitment to providing humanitarian aid. The NSC statement was posted on its Twitter account together with a link to a press release issued by the Treasury Department last week. The Treasury said Thursday that it continues to allow US sanctions exemptions for the delivery of humanitarian aid to countries

North Korea April 14, 2020

US Health Secretary Alex M. Azar reached out to his South Korean counterpart, Park Neung-hoo, on Monday to learn from Seoul's handling of the coronavirus pandemic, the health ministry here said. It said Park and Azar discussed testing procedures and managing of people who have come in contact with patients, as well as recent cases in South Korea where people have retested positive for COVID-19. The number of new cases has stayed below 50 for the past five days in South Korea, while the virus

Foreign Affairs April 14, 2020