South Korea

BTS to become multi-millionaires after label goes public

Soaring demand for shares in Big Hit has given it a market valuation of £3.2bn ($4.1bn), with shares priced at the top of the expected price range.

Big Hit boss Bang Si-hyuk, who owns 43% of the management label, will become a billionaire.

In August, he gave each BTS member 68,385 shares, worth £6.2m in total.

Currently priced at between 105,000-135,000 won (£70.03-£88.70) per share, Big Hit expects to raise about £638.3m with the sale of 7.13 million new shares when it is listed on Korea's Stock Exchange, the KOSPI, on 15 October.

South Korea closes Seoul schools amid rise in cases

Nearly 200 staff and students have been infected in the greater Seoul area over the past two weeks.

Remote learning will continue until 11 September, the Ministry of Education said.

Health authorities have warned that the country is on the brink of a nationwide outbreak.

All students in the greater Seoul area, home to over 25 million people, will now take classes online with the exception of those in their final year of high school who are due to take university entrance examinations in December.

South Korea tightens Covid-19 curbs amid warning of new 'crisis'

Tuesday saw a three-digit increase in cases for a fifth day after weeks with numbers generally around the 40s.

South Korea is viewed as one of the world's coronavirus success stories for its management of the disease.

But a spike in new cases linked mostly to a church has sparked concerns of a wider outbreak.

The country recorded 246 new infections on Tuesday, bringing the nationwide total to 15,761.

Many of the new cases have been linked to the Sarang Jeil Church, whose pastor has been a vocal critic of President Moon Jae-in.

Professional football K League returns in South Korea

 

The 2020 K League season started on Friday with a match between Jeonbuk Hyundai Motors and Suwon Samsung Bluewings played without spectators after a delay of more than two months caused by the Covid-19 outbreak.

The Jeonju World Cup Stadium, home turf of Jeonbuk Hyundai Motors, was not filled with fans but giant yellow and white cards saying "#CU SOON STAY STRONG" were placed on empty seats, while coaches and substitutes wore face masks.

South Korean coronavirus patients re-diagnosed after they recovered

Jeong Eun-kyeong, the director of the Korea Centers for Disease Control and Prevention (KCDC), says the virus appears to have been "reactivated" rather than the patients being reinfected, Reuters reported.

The number of patients has grown after 51 were announced on Monday and officials say it brings doubt into what it means for a patient to be cleared of the virus and when they should be allowed to return home.

Bloomberg reported a patient is currently deemed fully recovered when two tests conducted with a 24-hour interval show negative results.

     

South Korea confirms huge rise in coronavirus cases

Officials said on Saturday that 229 new cases had been confirmed since Friday, raising the total to 433.

In a televised address, Prime Minister Chung Sye-kyun described the situation as "grave".

Many of the new cases are linked to a hospital and to a religious group near the south-eastern city of Daegu, authorities have said.

Two patients in South Korea have died so far and there are fears the number will rise.

South Korean church head accused of enslaving followers in Fiji

The Grace Road Church has extensive business networks in Fiji, but the government said these would not be affected by Shin Ok-joo's arrest.

The police in South Korea said Ms Shin, who was arrested last week, has been charged with slavery and foreign exchange violation.

Her church believes an armageddon is coming, and Fiji is the only place in the world that will escape it.

Up to 400 Korean followers are reported to have worked in Fiji, but South Korean authorities said their passports were confiscated and they're not being allowed to leave.

South Korea 2 Germany 0

Joachim Low's side went into the game needing to match or better Sweden's result against Mexico, but they failed to break down Korea's dogged resistance and were undone at the last as Kim Young-gwon and Son Heung-min netted, while the Scandinavians romped to a 3-0 victory.

If World Cup-winning head coach Low thought his problems were behind him after a superb second half in Germany's 2-1 win over Sweden in their second Group F game, he was wrong, and the inclusion of Mesut Ozil in the front four did little to inspire his turgid team.

N Korea cancels talks with South Korea and warns US

The North's official KCNA news agency said the exercises were a "provocation" and a rehearsal for an invasion.

It also warned the US over the fate of the historic summit between Kim Jong-un and US President Donald Trump that is scheduled for 12 June in Singapore.

In March, Mr Trump stunned the world by accepting an invitation to meet Mr Kim.

"We will both try to make it a very special moment for World Peace!" the US leader later tweeted.

North Korea's Kim Jong-un crosses into South Korea

Smiling and waving, South Korean President Moon Jae-in met Mr Kim at the border before talks begin.

At the summit venue, Mr Kim said that he hoped for frank discussions.

The historic meeting will focus on the North's recent indications it could be willing to give up its nuclear weapons.

In a moment rich with symbolism, Mr Kim and Mr Moon shook hands on both sides of the border in the demilitarised zone.

The South Korean president briefly stepped into the border into North Korea as well - an unexpected moment.