President Moon Jae-in on Monday urged South Korean banks to ensure that the government’s financial measures against the COVID-19 pandemic are executed as smoothly as possible. Speaking at a meeting with heads of major private and state-run financial institutions, Moon stressed the importance of the financial sector’s role in shoring up the economy against the impact of the pandemic. “The finance (sector) is like the medical staff on the frontlines of quarantine. Just as th

The campaigns for the April 15 general elections are heating up, with the ruling and main opposition parties each hoping to secure the majority of constituencies. While there are only 253 constituencies up for grabs, both the ruling Democratic Party and the main opposition United Future Party are projecting victory in 123 to 130 constituencies. The Democratic Party considers its candidates to have the upper hand in 134 of the 253 constituencies, while the United Future Party considers victo

Campaigns for general elections have kicked off, with both mainstream parties vowing victory, but the outlook remains unclear. Thursday saw the start of the official campaign period for the April 15 general elections, which includes proportional representative parties for the first time, adding new variables to the mix. Recent polls show that both the ruling Democratic Party of Korea and main opposition United Future Party’s support ratings, and those of their satellite parties, have

South Korea on Wednesday implemented a 14-day mandatory isolation procedure for all visitors from abroad, stepping up efforts to limit the influx of novel coronavirus infections. From midnight Tuesday, Koreans and foreign nationals arriving from aoverseas are required to enter 14 days isolation at home or in government facilities regardless of having symptoms linked to COVID-19. Those staying in government facilities are required to cover the daily cost of about 100,000 won ($81). While the

President Moon Jae-in on Tuesday stressed the need to limit an influx of COVID-19 cases from overseas, calling for stern legal measures against those who violate related regulations.　 At the meeting, the government also postponed the Partnering for Green Growth and the Global Goals 2030, or P4G, summit scheduled to be held in Seoul in June to next year.　 Speaking at Tuesday’s Cabinet meeting, Moon said that while the outbreak is slowing in Korea, the country must remain vigilant as each

South Korea will offer up to 1 million won ($820) in disaster relief subsidy to households as part of the efforts to soften the economic impact of the COVID-19 pandemic, President Moon Jae-in revealed Monday. The government plans to submit a bill for another supplementary budget to raise the required funds. Speaking at an emergency economy meeting, Moon said that the subsidies will be given to households in the bottom 70 percent income group. The amount will vary depending on the number of

President Moon Jae-in on Thursday held a telephone conversation with Canadian Prime Minister Justin Trudeau discussing the pandemic and their governments’ responses, continuing his COVID-19 diplomacy hours ahead of the G-20 teleconference. According to Cheong Wa Dae, Trudeau said that Seoul was responding to the issue scientifically and had avoided putting too much pressure on the country’s health system, and that Canada plans to take a similar approach. Cheong Wa Dae spokespers

The ruling Democratic Party and the main opposition United Future Party are heading into a double clash in the April 15 general elections, with both fielding satellite parties for proportional representative seats. The Future Korea Party, a satellite party of the United Future Party, has shortlisted 40 candidates. The ruling Democratic Party’s satellite party, whose name roughly translates to “Citizen’s Party,” is entering the race with 30 candidates. In proportional

The Seoul Metropolitan Government on Monday issued a “prohibition of gatherings” order on a church that violated government guidelines on social distancing. The move came hours after Prime Minister Chung Sye-kyun on Monday warned that firm legal measures will be taken against groups that violate measures to limit the spread of COVID-19. The church, run by Rev. Jun Kwang-hoon, held a service on Sunday that violated the social distancing guidelines. According to Seoul City, about

Police nabbed a 20-something man for allegedly subjecting at least 74 people, including 16 minors, to sexual exploitation and assault and operating a pornography ring on Telegram, the police revealed Friday. The alleged crimes involved the messenger service Telegram, where videos of a sexual nature were posted in return for cryptocurrency payments. The suspect, currently known by the surname Cho and by the Telegram nickname “doctor,” is thought to be one of a large number of ind

The government will seek ways to reduce the tax burden as part of its efforts to cushion the economic impact of the COVID-19 outbreak, which may mean delaying corporate and value-added taxes for affected businesses. “Delaying filing, and extending the deadline for value-added tax and general income tax will be discussed,” Prime Minister Chung Sye-kyun said at Friday’s meeting. Saying the outbreak has brought the economy to a halt, Chung added that the economic effects of t

Deadlines on corporate loans will be extended, and a fund to stabilize the country’s stock markets will be established as part of Seoul’s efforts to deal with the economic impact of the COVID-19 outbreak. Under the measures, deadlines for loans taken out by small and medium-sized enterprises and small merchants will be extended by more than six months. In addition, debtors will be given six-month extensions on their interest payments. 　 　According to the government, the measures --

President Moon Jae-in on Wednesday called for the support of businesses, labor unions and financial institutions in minimizing the economic impact of the COVID-19 pandemic, saying the government’s efforts alone would be insufficient. Speaking at a meeting with leaders of business, financial and labor organizations, Moon said that the country’s economy is facing an unprecedented crisis. “COVID-19 is impacting both supply and demand, and causing a compound crisis of real (ec

President Moon Jae-in said Tuesday that he will chair an emergency economic conference, and that all available resources and methods will be mobilized to deal with the economic impact of the COVID-19 pandemic. “Special responses and measures will be decided on quickly, and (the situation) will be dealt with firmly through the emergency economic meeting presided over by the president,” Moon said at Tuesday’s Cabinet meeting, calling the current economic situation more grievou

President Moon Jae-in on Monday called for stronger cooperation among local governments in the capital and surrounding regions, saying that the success of the country’s fight against COVID-19 hinged on the region. “There remains the uncertainty that all the efforts and achievements could go back to the starting point if a large scale cluster transmission occurs, or community transmission expands quickly in the capital region,” Moon said at a meeting with heads of local gover

The testing of Shincheonji Church of Jesus members working at hospices and nursing homes is near completion, with no reports of any new COVID-19 cases so far, the Korea Centers for Disease Control and Prevention said Friday. Shincheonji is the Christianity-based cult at the center of the outbreak in South Korea, and the government announced Tuesday that all Shincheonji believers working at hospices and nursing homes would be tested for the disease. “Hospice and nursing home workers, a

The number of COVID-19 patients in Seoul stood at 231 as of 10 a.m. Friday, the Seoul Metropolitan Government said, up 12 from the previous day. The number is six more than the 225 stated by the Korea Centers for Disease Control and Prevention. The KCDC tallies the numbers up to midnight and releases them at 10 a.m. According to Seoul City, 191 of the 231 patients are currently in isolation and 40 have been released after being cleared of the virus. Those linked to a call center in Guro-gu

Nearly 60 coronavirus patients in South Korea are in critical condition, the government response team said Friday. According to the government’s central COVID-19 response team, 91 people are showing severe symptoms and 59 are in critical condition. The health authorities consider patients to be in critical condition if they require mechanical life support, meaning a ventilator or a device that replaces the heart and lung functions by oxygenating the blood outside the body. When blo

The ruling Democratic Party will join a coalition proportional representative party in the April 15 general election, the party said Friday. In the vote to decide whether to join the coalition, nearly three-quarters of party members with voting rights supported the idea. According to the party, 74.1 percent of those who voted approved of the plan. Of the party’s 789,868 members with voting rights, 30.6 percent or 241,559 took part in the vote. The idea of joining the proportional re

The number of COVID-19 cases in Korea continued the slower pace of increase, coming to 7,979 at midnight Thursday, rising 110 from the same time a day earlier. Thursday also saw 177 people being released from isolation, pushing up the number of those deemed clear of the virus to 510. During the course of Thursday, one more patient died from the illness, pushing the country’s COVID-19 death toll to 67, according to the Korea Centers for Disease Control and Prevention. Daegu continued