Kakao Pay shares double after IPO, obsessed K-Pop fans are happier, and Makgeoli has intestinal health benefits
K-NEWS BITES
Thu 2021-11-04 (KST)
Human Rights Watchdog Recommends School to Suspend Smartphone Ban (1 min read)
“The commission on Wednesday recommended that a high school in Daegu suspend the ban and ease related rules, ensuring that students' rights to freedom of action and telecommunication are not overly restricted. A student at the school had filed a petition, arguing that their rights were violated by the school requiring smartphones to be turned off during class and limiting their use during recess and lunch. Permission from teachers was required for any use. The school, for its part, argued that the ban was a part of measures to reduce indiscreet smartphone use and that students were allowed to use them for justified reasons.”
Korea vows to take leading role in fighting climate change (2 min read)
“Moon officially introduced South Korea's accelerated goal for carbon neutrality ― the country is committed to cutting carbon emissions by 40 percent from 2018 levels by 2030. The reduction target was raised from the 26.3 percent set in 2020 and from 35 percent stated in a relevant bill passed at the National Assembly in August.” he also committed to completely ending coal-fired power generation by 2050. “President Moon Jae-in made the proposals in a speech at the 26th Conference of the Parties (COP26) in Glasgow, Scotland, Monday (local time).”
PM: ‘Living with COVID-19’ Could Stop if Infections Surge Quickly (1 min read)
“Prime Minister Kim Boo-kyum has warned against complacency after the nation’s daily COVID-19 cases surged back to over two-thousand-600… Kim said he understands public fatigue from drawn-out distancing rules, but stressed that the recovery of daily life isn’t possible over a short period of time and called for continued caution while moving forward. On a radio program on Wednesday, he warned that the government will have to suspend the new system if more than 75 percent of COVID-19 hospital beds nationwide are filled.”
New infections spike to over 2,600 amid 'living with COVID-19' (1 min read)
“The country reported 2,667 new COVID-19 cases, raising the total caseload to 370,640, the Korea Disease Control and Prevention Agency (KDCA) said. Wednesday's tally marked a sharp hike from 1,589 reported a day earlier… The death toll rose by 18 to 2,892 on Wednesday, the health authorities said. The fatality rate came to 0.78 percent… The [health] authorities said more than 70 percent of new COVID-19 patients have not been vaccinated, with 24 percent of them in their teens.”
General COVID Information for residents in Korea:
Ministry of Health and Welfare, South Korea
Coronavirus Statistics for South Korea
South Korea’s Approach to the Metaverse (4 min read)
“South Korea is an emerging key player in the metaverse, spring boarding from its strong gaming industry and popular culture content that attracts global fans… It is still too early for the metaverse to significantly alter or replace our reality but at this rate of investment, it might come sooner than we think. It will be interesting to see what role the South Korean government plays in the new realm of technology and how the norms and rules they form could influence industries throughout the world.”
RCEP trade deal reaches ‘milestone’ after ratification by Australia and New Zealand, will take effect in January (2 min read)
“The Regional Comprehensive Economic Partnership (RCEP) trade agreement will take effect at the start of January, according to the Australian government, with the deal to facilitate trade liberalisation and economic integration in Asia and the Pacific. The 15-member* RCEP – the world’s largest free trade agreement despite the absence of the United States – will be Japan’s first trade agreement involving both China and South Korea… RCEP is designed to remove tariffs on 91 per cent of goods, and standardise rules on investment, intellectual property and e-commerce among other trade practices.”
*RCEP includes the 10 member ASEAN states – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – plus Australia, China, Japan, New Zealand and South Korea.
North Korea may launch space rocket next year: expert (2 min read)
“Ko Jae-hong, a researcher at the Institute for National Security Strategy, a think tank run by South Korea’s spy agency… said that it is likely that the North could launch a space rocket next year, in time for the country’s major holidays in the first half of 2022. They include the 80th birth anniversary of Kim Jong-il, North Korean leader Kim Jong-un’s late father, in February and the 110th birth anniversary of Kim Il-sung, the nation’s founder and leader Kim’s grandfather, in April. South Korea’s plan to launch its self-developed Nuri rocket for the second trial next May could be another factor.”
North Korea and China restart rail freight, ending pandemic trade ban (3 min read)
“North Korea and China resumed cross-border rail freight shipments on Monday, promising much needed relief to desperate North Koreans suffering from food shortages and economic upheaval under a trade ban that had been put in place in response to the coronavirus pandemic… Prior to the closure of the Sino-Korean border in January 2020, China had accounted for more than 90 percent of North Korea’s annual international trade. The sudden stoppage in trade wrecked the North Korean economy… “
South Korea's Kakao Pay shares double in stock market debut (2 min read)
“Shares in South Korea's Kakao Pay more than doubled on Seoul's stock market in their trading debut on Wednesday, rising as much as 156% from their initial public offering price on investor enthusiasm for the fintech company's growth potential. Kakao Pay raised 1.5 trillion won ($1.3 billion) in its IPO last week, offering 17 million new shares. It plans to spend part of the proceeds on launching services such as mobile stock trading and nonlife insurance while expanding its reach in overseas markets…”
Seoul to offer new concept administrative services via metaverse platform (2 min read)
“Metaverse, a combination of meta (meaning beyond) and verse (from universe), refers to a 3-D virtual shared world in which all activities can take place with the help of augmented- and virtual-reality services… The Seoul city government said Wednesday it will offer a new concept public service through online virtual worlds by building its own metaverse platform for the first time among local governments nationwide. The city's own high-performance platform, tentatively named Metaverse Seoul, will be established by the end of next year, according to its five-year ‘Metaverse Seoul Basic Plan,’” and plans to offer services in all areas of municipal administration.
Obsessive fans are happier: study (2 min read)
“Obsessive fans of K-pop and those who hold a deep interest in another particular area tend to be happier than others, according to a recent study. In a study introduced by the Korea Food Forum, a team led by professor Park Hyun-ju of the College of Nursing at Kangwon National University analyzed the mental health of college students… These people study or collect anything related with their obsession, which could be anything including celebrities, comics, animations, figurines, science fiction and games.”
Activist professor, comedian promote makgeolli (1 min read)
“Seo Kyoung-duk, a professor of Sungshin Women's University known for his efforts to promote Korean culture abroad, has joined hands with comedian and TV personality Jeong Jun-ha to promote makgeolli, a Korean alcoholic drink made from fermenting rice… [The] two launched a multilingual video... on the occasion of "Makgeolli Day" that falls on the last Thursday in October. The four-minute clip is available in Korean and English on YouTube [Korean, English]”
Fun fact: “According to a report by the Korea Food Research Institute, makgeolli contains various microorganisms, such as yeast and lactic acid bacteria, so it is beneficial for people's intestinal health.” ^^
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