Korea daily news(June 14th 2024)

Politics

  • People Power Party Primary Election Ratio Set: The People Power Party (PPP) has set the ratio for reflecting party members’ and the public’s opinions in the party convention primary elections at 8:2. Representative Ahn Cheol-soo has expressed a critical stance on this decision.
  • Han Dong-hoon’s Intent to Run for Party Leadership: Han Dong-hoon, former chairman of the PPP emergency committee, is firming up his intention to run in the party convention.

Economy

  • SK Securities Credit Rating Downgraded: SK Securities has recorded a net loss for two consecutive quarters, resulting in its credit rating being downgraded from A to A-.
  • EcoPro Materials Stake Sale: BRV Capital Management has sold its stake in EcoPro Materials through a block trade.
  • Coupang Fined: The Fair Trade Commission has imposed a fine of 140 billion KRW on Coupang and its subsidiaries for customer enticement practices.

Society

  • Mental Illness Mitigation Denied: The court has denied mitigation for a defendant based on mental illness.
  • Personal Information Protection Investigation: The Personal Information Protection Commission is investigating the privacy policies of 49 companies, including Naver, Kakao, and AliExpress.

Technology

  • Apple Intelligence Unveiled: Apple has unveiled its generative AI service called ‘Apple Intelligence’.
  • Contec and KSAT Collaboration: NewSpace pioneer Contec has signed a cooperation agreement with Norwegian ground station specialist KSAT for business expansion.

Finance and Real Estate

  • Individual Treasury Bonds Subscription: On the first day of individual treasury bond subscriptions, 126 billion KRW was raised.
  • Kiwoom Securities Target Price Raised: Kiwoom Securities has raised the target price for Samyang Foods to 830,000 KRW.
  • Ministry of Land, Infrastructure and Transport Housing and Land Regulation Improvement: The Ministry of Land, Infrastructure and Transport has improved the house price calculation method for the Housing and Urban Guarantee Corporation’s lease deposit return guarantee review.

Environment

  • Eco-friendly Refrigerant Research: The Korea Fire Insurance Association is conducting a fire simulation experiment on air conditioners using eco-friendly refrigerants to prepare for summer fires.
  • Heatwave Forecast: The Korea Meteorological Administration has forecasted that temperatures will reach up to 35 degrees Celsius on Friday.

International

  • Heatwave in Türkiye: An unprecedented heatwave is sweeping across various regions of Türkiye, including the western metropolis of Izmir.
  • Tesla Shareholders’ Meeting: Tesla’s shareholders’ meeting has decided to award Elon Musk a substantial performance bonus.
  • Crackdown on Beggars in Thailand: The Thai government is cracking down on beggars in major tourist areas and requesting foreign tourists to refrain from giving donations.
  • Bagel Chain Crisis: The iconic Georgetown location of the popular Washington D.C. bagel chain ‘Call Your Mother’ is facing the threat of closure. 

Korea Daily News in English