Korea Zinc’s tit-for-tat dispute with MBK escalates

The vice chairman of Korea Zinc on Tuesday strongly condemned a takeover attempt by its major shareholder Young Poong, which teamed up with private equity firm MBK Partners for the bid, calling it a “predatory action” that would lead to the outflow of homegrown technology and put the country’s industrial competitiveness under threat. “Non-ferrous metals are a vital industry that supplies key raw materials to major domestic industries such as automobiles, semiconductor

CompaniesSept. 24, 2024

Kia to debut PV5 electric van in Japan in 2026

Hyundai Motor Company’s smaller sibling Kia is poised to enter Japan’s purpose-built vehicle market, a tricky segment already crowded with Japanese rivals. Kia said Tuesday it joined hands with Japan-based trading company Sojitz to launch its PV5 van, the carmaker's first PBV model built on an electric vehicle platform, in Japan in 2026. The car's Japanese debut hopes to benefit from the country’s net-zero goals. Currently, Japan offers hefty incentives to EV buyers

MobilitySept. 24, 2024

SPC eyes foray into Eastern Europe

South Korean bakery giant SPC Group said Tuesday it hosted a conference in Prague last week to explore strategies for expanding its global business in Europe. SPC Group held the Paris Baguette Europe Conference in the Czech capital on Thursday and Friday. Chairman Hur Jin-soo and Jack F. Moran, head of SPC's European operations, put their heads together for ways to penetrate the Eastern European market. On the first day, Hur met with CzechInvest CEO Jan Michal to discuss investment strategi

IndustrySept. 24, 2024

Google pays way less tax in Korea: lawmaker

Google Korea allegedly evaded more than 600 billion won ($450 million) in taxes in 2023, paying only 2.5 percent of its estimated corporate tax obligations, a ruling party lawmaker said on Tuesday. Rep. Choi Su-jin of the People Power Party, citing reports from the Korean Association of Financial Management and filings from the US Securities and Exchange Commission, revealed that Google Korea paid 15.5 billion won in corporate taxes last year, but considering its estimated revenue, the company s

IndustrySept. 24, 2024

Daewoo E&C, Czech's Sudop Praha sign MOU for nuclear plant project

South Korean builder Daewoo Engineering & Construction said Tuesday it has signed a memorandum of understanding with Czech infrastructure company Sudop Praha as part of efforts to strengthen its partnership with local firms in constructing nuclear power plants in the Czech Republic. According to Daewoo E&C, the signing ceremony took place during South Korean President Yoon Suk Yeol’s visit to Doosan Skoda Power -- the Czech subsidiary of Doosan Enerbility, specializing in power gen

CompaniesSept. 24, 2024

Seoul seeks to improve foreign nanny program after two abscond

In the wake of two caregivers from the Philippines abruptly disappearing just two weeks into Seoul's foreign caregiver pilot program, officials from the Seoul Metropolitan Government and the Ministry of Employment and Labor convened a meeting in Seoul Tuesday to address operational challenges faced by the caregivers. Among the issues the meeting participants highlighted were lengthy commutes between assignments and a heavy workload associated with caring for multiple children. The meeting i

Social AffairsSept. 24, 2024

KITA chief discusses EU’s regulatory impact in Brussels

Korea International Trade Association Chairman and CEO Yoon Jin-sik visited Brussels this week to convey South Korean companies' concerns regarding upcoming EU environmental regulations to key European Commission and European Parliament representatives. During his visit Monday through Tuesday, Yoon was accompanied by a KITA delegation, comprising executives from member companies, including Meta Biomed, Hanyoung Nux, Exicon and Daejoo Autotech, according to the KITA on Tuesday. In a meeting

IndustrySept. 24, 2024

KFA Chair denies unfair hiring of national coach

Korea Football Association chief Chung Mong-gyu on Tuesday denied any attempts to plot a “scheme or cover up the truth,” in the hiring of men’s national football team head coach Hong Myung-bo, which has been under suspicion of irregularities. He was summoned to testify before the National Assembly’s Culture, Sports, and Tourism Committee on the allegations that the KFA hired the 55-year-old star football player-turned-coach in July as the head coach of the men’s squ

PoliticsSept. 24, 2024

CJ ENM seeks to diversify its presence at 29th BIFF with TV series, K-pop documentary

South Korean entertainment conglomerate CJ EJM, a leading movie distributor as well as the operator of the country’s largest multiplex chain CJ CGV, is seeking to diversify its presence at the 29th Busan International Film Festival by showcasing its series and a documentary. According to CJ ENM subsidiary Tving, a leading domestic streaming platform, two of its original series “Dongjae, the Good or the Bastard” and “Way Back Love” are screening at the BIFF’s O

FilmSept. 24, 2024

[Herald Review] Two misfits’ evolving friendship, chemistry spice up ‘Love in the Big City’

“Why it doesn’t make sense that we live together? I mean, the house price in Seoul is so damn expensive!” In a conservative country like South Korea, it’s hard to imagine two friends -- man and woman -- living under the same roof. If that line were from a typical K-rom-com, the next scene would show two friends found in the same bed and falling in love, almost inevitably. But in director Lee Eon-hie’s “Love in the Big City,” they get to know and understa

FilmSept. 24, 2024

Malnutrition cases nearly triple in last 5 years

The number of patients suffering from malnutrition in South Korea has increased by nearly three times in the last five years, particularly among low-income households, data showed Tuesday. According to an official report from the National Health Insurance Service delivered to Rep. Jun Jin-sook of the Democratic Party of Korea, a total of 63,274 patients received treatment for malnutrition from 2019 to the first half of this year. The number of patients suffering from malnutrition increased signi

Social AffairsSept. 24, 2024

Couple welcoming quintuplets to receive over W170m in childbirth grants

In a country grappling with the world’s lowest fertility rate of 0.72, the arrival of quintuplets to a couple last week has become national news, generating a flurry of articles. On Tuesday, the focus shifted to the sum of all government grants that the babies will be receiving -- totalling at least 170 million won ($128,000). Whether this is enough is now being hotly debated online. Kim Joon-young and Sagong Hye-ran from Dongducheon, Gyeonggi Province, welcomed three boys and two girls

Social AffairsSept. 24, 2024

Despite 92 calls to ER, young heart attack patient dies

A woman in her 30s in cardiac arrest died last week due to delays in finding an emergency room to treat her during the Chuseok holidays, a government report revealed Monday. It was found that emergency medical technicians in Busan called hospitals in the area 92 times to find a ER that could treat her, but failed to locate while the patient was suffering multiple heart attacks, according to the data submitted to Rep. Youn Kun-young of the main opposition Democratic Party of Korea. The woman su

Social AffairsSept. 24, 2024

Korean automakers pressured to diversify supply chains as US bans Chinese tech

Starting in the second half of 2026, the US will ban the sale of connected cars using Chinese-made software, with further restrictions on hardware to begin in 2029, a move that will pressure global automakers, including South Korea’s Hyundai Motor and Kia, to diversify their supply chains. On Monday, the US Department of Commerce’s Bureau of Industry and Security announced a proposed rule that would prohibit the sale and import of connected vehicles containing Chinese or Russian soft

MobilitySept. 24, 2024

Meteorologist who predicted summer heatwave warns extreme winter cold

The meteorologist who correctly forecast summer heat waves exceeding 40 degrees Celsius this year, has now warned of extreme cold snaps sweeping the country in the upcoming winter. Kim Hae-dong, a professor of environmental engineering at Keimyung University, said in a radio interview with CBS on Monday that “this winter will be very cold, similar to the winter of 2021 and 2022 when the temperature fell below minus 18 degrees Celsius.” Kim added that as Korea enters winter, La Nina

Social AffairsSept. 24, 2024

Yoon denounces 'two Koreas' suggestion as unconstitutional

President Yoon Suk Yeol on Tuesday criticized liberal politicians, including his predecessor Moon Jae-in, for advocating the recognition of North and South Korea as separate states, denouncing the proposal as "unconstitutional." "North Korea is now threatening a nuclear attack while recognizing its relationship with South Korea as belligerent. In this context, how can someone dare to bring up the concept of the peaceful coexistence of the two Koreas?" Yoon said at a Cabinet m

PoliticsSept. 24, 2024

Only 1.4% of med students get low-income scholarships

Only 1.43 percent of all medical school freshmen over the past decade received scholarships for students from low-income households, government data showed Tuesday. Medical schools here received a total of 31,883 new students between 2013 and 2024, but only 469 received the country's national scholarship program aimed at supporting students from low-income backgrounds, according to data submitted by the Education Ministry, the Korea Student Aid Foundation and each medical school to Rep. Cho

Social AffairsSept. 24, 2024

Malaysia celebrates 67th National Day in Seoul

The Malaysian Embassy in Seoul celebrated the country's 67th National Day Monday, commemorating Malaysia's independence from British Colonial rule in 1957. Celebrating the day, which falls on August 31, Malaysian Ambassador to South Korea Mohd Zamruni Khalid emphasized that the country, surrounded by unprecedented political uncertainties, has remained steadfast and resilient in its quest to move forward. "Over the years, Malaysia has shown that it can overcome the odds. ... Today,

Diplomatic CircuitSept. 24, 2024

Call center for digital crimes hit with 20% budget cut

Next year's budget for a state-run call center for victims of digital crimes has been cut by nearly 20 percent, while the country sees a rise in such crimes, government data showed Tuesday. The Korea Communications Commission's 2025 budget for protection of internet users -- which is used to operate the Online Damage 365 Center for victims of digital crimes -- has been revealed to be 921 million won ($690,000), according to KCC data submitted to Rep. Hwang Jung-a of the main oppositi

Social AffairsSept. 24, 2024

Woman accused of deepfake sex crime against ex-boyfriend

A woman in her 20s is under investigation over allegations of releasing digitally produced pornographic images of her former boyfriend, in the first reported deepfake case involving a male victim in Korea. According to local media reports on Tuesday, Busan Metropolitan Police is investigating the suspect for allegedly releasing fake pornographic videos and images of the male victim, also in his 20s. She is also accused of other crimes such as sharing the victim's nude photos on social med

Social AffairsSept. 24, 2024