Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

South Korea tightens curbs in Seoul as COVID-19 cases hit 9-month high

Published 12/05/2020, 08:02 PM
Updated 12/06/2020, 03:55 AM
© Reuters. People wearing face masks walk at a traditional market amid the coronavirus disease (COVID-19) pandemic in Seoul

By Josh Smith

SEOUL (Reuters) - South Korea will impose heightened social distancing rules for the capital Seoul and surrounding areas, health officials said on Sunday, as authorities struggle to contain the nation's largest wave of coronavirus infection in nine months.

The decision comes after the government implemented unprecedented measures on Saturday in a country that had seen initial success through aggressive contact tracing and other steps.

"We are in a very dangerous situation," health ministry official Park Neung-hoo told a briefing, saying localised clusters have the potential to become a national outbreak.

The Korea Disease Control and Prevention Agency (KDCA) reported 631 new cases as of midnight Saturday - the largest daily tally since a peak in February and early March - bringing the country's total to 37,546, with 545 deaths.

Nearly a month of triple-digit daily infections has brought the number of active cases in South Korea to a record 7,873, the KDCA said, raising concerns over the dwindling number of hospital beds.

"Right now it is exceeding the level that we can control in our hospital system," Park said.

New beds are being added and for now there are enough to treat patients, but if the trend continues, the country could face a shortage of beds, he said.

Many of the recent cases have been centred in Seoul, which on Saturday launched unprecedented curfews, shuttering most establishments at 9 p.m. (1200 GMT) for two weeks and cutting back public transportation by 30% in the evenings.

Under the measures announced on Sunday, which go into effect on Tuesday, gatherings of 50 or more people are prohibited, gyms and karaoke bars must close, religious services must be held online or by broadcast, and stricter attendance limits will be placed on school classes, Park said.

While restaurants will still be allowed to provide in-person service, the government is urging people to avoid eating out if possible and not hold non-essential social gatherings, he said.

© Reuters. People wearing face masks walk at a traditional market amid the coronavirus disease (COVID-19) pandemic in Seoul

The curbs will last at least three weeks, until the end of the month, Park said. Other areas of the country will also see heightened restrictions, but at a lower level than the Seoul area.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.