Court orders HYBE to pay Min Hee Jin 25.5 Billion Won in put option dispute SEOUL, February 12 (AJP) - A Seoul court has ruled that HYBE must pay roughly 25.5 billion won ($19 million) to Min Hee-jin, former CEO of ADOR and current head of OK Records, in connection with a put option dispute. The Seoul Central District Court’s Civil Division 31, presided over by senior judge Nam In-soo, partially ruled in favor of Min in her lawsuit seeking payment under a shareholder agreement. The court ordered HYBE to pay Min roughly 25.5 billion won. It also dismissed a separate lawsuit filed by HYBE seeking confirmation that its shareholder agreement with Min had been lawfully terminated. The court had reviewed the two cases in parallel, as the validity of the contract termination directly affected Min’s right to exercise the put option. In its ruling, the court acknowledged that Min had explored ways to make ADOR independent from HYBE. However, it determined that such efforts alone did not constitute a material breach of the shareholder agreement. After reviewing KakaoTalk messages exchanged between Min and her associates, as well as her performance and responsibilities as CEO, the court concluded that her actions did not significantly hinder ADOR’s growth or cause demonstrable damage to the company. HYBE’s claim that Min had intended to terminate NewJeans’ exclusive contracts and pursue an initial public offering (IPO) for ADOR independently was also rejected. The court stated that although Min appeared to have discussed independence strategies with external investors, those proposals were premised on HYBE’s consent and could not have taken effect without it. The ruling further noted that Min continued to carry out her duties as CEO during the dispute, including overseeing album releases in Korea and Japan. Allegations raised by Min including claims that ILLIT had copied NewJeans and their album sales had been artificially inflated, were also found insufficient to justify termination of the contract. The court emphasized that the financial harm Min would suffer if the contract termination were upheld was “clear and significant,” while finding that HYBE had not demonstrated a breach serious enough to warrant cancellation of the agreement. Accordingly, the court ordered HYBE to pay Min approximately 25.5 billion won. It also ruled that HYBE must pay a combined 3.1 billion won to Mr. Shin, a former ADOR vice president, and Mr. Kim, a former cheif director, who had jointly notified the company of their intention to exercise the put option. The dispute stems from Min’s notification in November of 2024 that she would exercise her put option rights. Under the shareholder agreement, the put option payout is calculated by multiplying ADOR’s average operating profit over the previous two fiscal years by 13, and then applying 75 percent of Min’s ownership stake in the company. Based on ADOR’s earnings during the reference period and Min’s shareholding, the court determined that the amount due to her totals approximately 25.5 billion won. Including the claims filed by her associates, the total payout sought amounted to roughly 28.7 billion won. 2026-02-12 16:16:08

BTS Comeback D-37: Built different, the Suga equation *Editor’s Note — As BTS prepares to return as a full seven-member act with a new album set for March 20 and an open-stage performance at Gwanghwamun on March 21, following a near four-year hiatus for rotational military service, AJP revisits the group’s 13-year trajectory. This series reexamines BTS’s history, music, performance identity and enduring appeal. The Third installment traces the BTS member SUGA's roots and growth. SEOUL, February 12 (AJP) - “Butter” by BTS recently crossed 4 million cumulative points on Japan’s Oricon Weekly Combined Single Ranking. At first glance, the milestone looked like another routine addition to the group’s sprawling archive of records ahead of its comeback. But the number tells a deeper story. Unlike charts based solely on physical sales, Oricon’s Weekly Combined Single Ranking converts multiple consumption formats into a unified score. One physical single sold equals one point, as does one full-track digital download, while streaming figures are converted according to Oricon’s weighted formula. Points are accumulated weekly, meaning the 4 million threshold reflects sustained, long-term consumption rather than a short-lived surge. In Japan’s domestic market — where local artists typically dominate cumulative rankings — surpassing 4 million points is widely regarded as a marker of durable purchasing power. Released on May 21, 2021, “Butter” spent 10 weeks atop the Billboard Hot 100. Crossing the 4 million-point mark on Oricon made it the first such achievement by an overseas act and only the second overall — a reminder that BTS’s commercial gravity has not faded during its members’ staggered military service. At the structural core of that trajectory stands rapper and producer Suga (Min Yoon-gi, born March 9, 1993). Unlike many idol rappers whose roles remain performance-centered, Suga’s influence extends into composition, arrangement, and conceptual direction. More than 100 songs are registered under his name at the Korea Music Copyright Association. He has contributed to defining BTS tracks such as “I Need U,” “Spring Day,” and “Life Goes On,” the latter becoming the first Korean-language song to debut at No. 1 on the Billboard Hot 100 in December 2020. His solo career operates under a different logic. Performing as Agust D — a name derived from reversing “DT SUGA,” with “DT” referring to “Daegu Town” — he foregrounds authorship and locality within a global pop framework. His 2016 mixtape Agust D reached No. 3 on Billboard’s World Albums chart. D-2, released in 2020, entered the Billboard 200 at No. 11. The title track “Daechwita” accumulated 17 million views within 24 hours of release and has since surpassed 500 million views on YouTube. By the time D-DAY debuted at No. 2 on the Billboard 200 in 2023, the arc was unmistakable: a transition from group rapper to independently touring artist. His world tour, which began on April 26, 2023, spanned 10 cities and 28 performances, drawing more than 290,000 attendees — figures usually reserved for established solo acts rather than first-time headliners. Collaboration has served as another extension of his authorship. He produced and featured on “Eight” with IU, co-produced and appeared on “That That” with PSY, and partnered with Halsey on “Lilith.” Each project expanded his reach beyond BTS’s immediate ecosystem. Behind the numbers lies a long record of physical and emotional endurance. During his trainee years, Suga sustained a serious shoulder injury in a traffic accident while working a delivery job. He later revealed on tvN’s You Quiz on the Block that he performed for years while receiving injections, before eventually undergoing surgery in November 2020. The injury later influenced his assignment during mandatory military service. He was discharged on June 21, 2025. In Daegu, murals near Myeongdeok Station now mark the neighborhood where his early studio once stood. Global chart dominance has translated into a physical landmark — an unusual trajectory for a rapper who once operated in the underground under the name “Gloss.” Four million Oricon points. Ten weeks atop the Billboard Hot 100. A No. 2 debut on the Billboard 200. More than 100 registered copyrights. Over 500 million YouTube views. A 290,000-attendance world tour. Individually, each figure signals scale. Taken together, they outline something more enduring: a producer who has built parallel credibility inside and outside one of the world’s largest music groups. Major chart records, hundreds of millions of views, global touring power, and years of performing through injury — these are not merely statistics. They trace a career constructed on both expansion and resilience. The next installment will track RM. 2026-02-12 16:15:13

South Korea watchdog chief urges banks to overhaul governance, put consumers first Lee Chan-jin, head of South Korea’s Financial Supervisory Service, met with the heads of major domestic banks and called for a shift in management practices, including stronger corporate governance. He urged banks to make consumer protection their top priority and to move on governance reforms on their own if needed. Speaking at a meeting with the CEOs of 20 domestic banks at the Korea Federation of Banks building in central Seoul on Feb. 12, Lee said banks should make “gyeonri-saui” — putting what is right ahead of profit — a core management value. He also urged them to “think about consumer protection before anything else.” Lee emphasized the need to improve governance. While the Financial Services Commission and the FSS plan to release a “governance advancement” package in March, he said banks should not delay if preemptive changes are necessary. The meeting was held about six months after Lee first met bank chiefs shortly after taking office in August last year. He asked banks to overhaul the entire process of financial product design, review and sales from a consumer-protection perspective and to establish a consumer-focused key performance indicator system to match. He also urged banks to move away from relying on easy interest income and to more actively supply funding to innovative companies and small and midsize firms. Cho Yong-byeong, chairman of the Korea Federation of Banks, said the industry would work together to meet rising public expectations by strengthening consumer protection and improving governance. Bank CEOs also said they would tighten consumer-focused checks across the full process, from product sales to dispute mediation. Meanwhile, the heads of the four major commercial banks — KB Kookmin, Shinhan, Hana and Woori — did not respond when asked what issues they planned to raise with financial authorities. They also declined to comment when asked about possible reductions in penalties tied to equity-linked securities linked to Hong Kong’s H Index. Choi Woo-hyung, CEO of K Bank, which is preparing for an initial public offering, said, “I think it will go well.” 2026-02-12 16:15:00

Pharma and Biotech Briefs: Daewon cold medicine, SK Biopharm U.S. meeting, Samsung Bioepis patent deal, Jaseng events Daewon Pharmaceutical launches three Daewoncol soft-capsule cold medicines Daewon Pharmaceutical said Wednesday it has launched a new cold-medicine line, the Daewoncol Soft Capsule series, with different formulations tailored to symptoms. The series has three products: Daewoncol Cold (multi-symptom), Daewoncol Cough (cough cold) and Daewoncol Nose (nasal cold), allowing consumers to choose based on symptoms. Daewon said the key difference is the dosage form: soft capsules filled with liquid ingredients, which it said can be absorbed faster than tablets and offer higher bioavailability for quicker effects. The company said it also boosted ingredient content, including 250 mg of acetaminophen per capsule, the maximum allowed under revised drug rules. Adults taking two capsules per dose would get 500 mg, which Daewon said helps relieve headaches, fever and muscle aches. Daewoncol Cold is designed to ease multiple symptoms such as runny nose, cough and fever. Daewoncol Cough strengthens ingredients aimed at throat-related symptoms including cough, phlegm and sore throat. Daewoncol Nose focuses on runny nose, congestion and sneezing. SK Biopharm holds U.S. national sales meeting in Orlando SK Biopharm’s U.S. unit, SK Life Science, said Wednesday it held its “2026 National Sales Meeting” from Feb. 9-12 in Orlando, Florida. The company said the event has been held annually since the 2020 launch of cenobamate, sold in the United States as Xcopri, and marked its seventh meeting this year. About 290 employees from South Korea and overseas attended, including CEO Lee Dong Hoon, to discuss strategies to strengthen sales. This year’s slogan was “We Will,” emphasizing voluntary execution and proactive growth, the company said. SK Biopharm said the central message was “One Team,” highlighting cooperation between headquarters and the U.S. unit based on each side’s expertise, as it seeks to strengthen the cenobamate business and expand into oncology. The company said cenobamate posted record U.S. sales of 630.3 billion won in 2025, up about 44% from a year earlier. Samsung Bioepis completes global patent settlements for Eylea biosimilar Samsung Bioepis said Wednesday it has signed a U.S. settlement and license agreement with Regeneron and Bayer, the makers of the original drug, covering the 2 mg formulation of its ophthalmology biosimilar Opuviz (aflibercept). Under the agreement, Samsung Bioepis said it will be able to launch Opuviz in the United States in January 2027. The company said it completed global patent settlements for the Eylea biosimilar in January, following agreements in Europe and other markets. Opuviz was approved by the U.S. Food and Drug Administration in 2024. In South Korea, it was approved under the brand name Apilibu and launched in May 2024. The original drug, Eylea, treats eye diseases including wet age-related macular degeneration. Samsung Bioepis said Eylea had global sales of about 14 trillion won in 2024, including about 9 trillion won in the United States. Jaseng Korean Medicine Hospital holds Lunar New Year events for patients Jaseng Korean Medicine Hospital said Wednesday it held Lunar New Year events for inpatients and outpatients at five hospitals nationwide: Incheon, Daejeon, Busan, Cheongju and Changwon. The Incheon hospital ran traditional games such as biseokchigi for inpatients, with medical staff joining in, and offered winter snacks and prizes. The Daejeon hospital held games with added penalties and missions. The Busan hospital ran traditional folk-game programs with staff participation, while the Cheongju hospital held a capsule-draw event and provided holiday gifts. The Changwon hospital said it plans to hold events and hands-on programs for outpatients from Feb. 13-16.* This article has been translated by AI. 2026-02-12 16:12:00

HD Hyundai's 2025 profit more than doubles on shipbuilding boom SEOUL, February 12 (AJP) - HD Hyundai said in a regulatory filing on Thursday that its 2025 operating profit more than doubled, driven by strong profitability in shipbuilding and offshore operations. The group reported consolidated revenue of 71.26 trillion won ($49.5 billion) for 2025, up 5.2 percent from a year earlier, while operating profit surged 104.5 percent to 6.1 trillion won. HD Hyundai said earnings growth was led by improved margins in shipbuilding and offshore businesses, with broad-based gains also recorded across units including power equipment. Shipbuilding and offshore holding company HD Korea Shipbuilding & Offshore Engineering posted revenue of 29.93 trillion won, up 17.2 percent, while operating profit jumped 172.3 percent to 3.9 trillion won. The company attributed the improvement to a higher proportion of high-priced vessels and increased production volumes resulting from efficiency gains. Among key subsidiaries, HD Hyundai Heavy Industries reported revenue of 17.58 trillion won and operating profit of 2.04 trillion won, while HD Hyundai Samho posted revenue of 8.07 trillion won and operating profit of 1.36 trillion won. Ship services and parts provider HD Hyundai Marine Solution reported revenue of 1.98 trillion won, up 13.6 percent, and operating profit of 350.1 billion won, up 28.9 percent. Engine affiliate HD Hyundai Marine Engine recorded revenue of 402.4 billion won and operating profit of 75.9 billion won, supported by higher engine output and parts sales. Solar panel unit HD Hyundai Energy Solutions posted revenue of 492.7 billion won and operating profit of 41.2 billion won, benefiting from stronger global sales and a recovery in selling prices. Energy affiliate HD Hyundai Oilbank reported revenue of 28.02 trillion won, down 8 percent from a year earlier, but operating profit rose 83.7 percent to 474 billion won as refining margins improved. The company said it plans to respond to global supply-chain shifts by diversifying crude sourcing and optimizing refinery operations. Power equipment maker HD Hyundai Electric posted revenue of 4.08 trillion won, up 22.8 percent, with operating profit climbing 48.8 percent to 995.3 billion won. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 16:06:51

Foreign home purchases in Seoul halve after Korea tightens property rules SEOUL, February 12 (AJP) - Foreign purchases of homes in Seoul fell by more than half after the government designated the capital and key parts of the greater metropolitan area as land-transaction permit zones for foreign buyers. The Ministry of Land, Infrastructure and Transport said Thursday its review of apartment and other home transactions from September to December last year showed sales by foreign buyers declined across designated areas compared with a year earlier. In the wider capital region — encompassing Seoul, Gyeonggi Province and Incheon — foreign home purchases fell 35 percent to 1,481 transactions from 2,279 a year earlier. The government introduced the permit requirement in August following criticism that foreign buyers were purchasing high-priced properties for speculative purposes and contributing to market overheating. Under the rule, approved buyers must occupy the property for at least two years. Seoul recorded the sharpest decline, with transactions dropping 51 percent to 243 from 496. Within the capital, purchases in the upscale Gangnam, Seocho and Songpa districts, along with Yongsan District, fell 65 percent. Seocho posted the steepest decline among Seoul’s 25 districts, with transactions plunging 88 percent to 11 from 92. By nationality, purchases by Chinese buyers fell 32 percent to 1,053, while transactions by U.S. buyers declined 45 percent to 208. Chinese nationals still accounted for 71 percent of foreign purchases, with Americans making up 14 percent, largely unchanged from a year earlier. First Vice Minister Kim I-tak said the decline suggested that demand contributing to overheating in parts of the housing market was easing. “The government will cooperate closely with local governments to thoroughly verify compliance and establish a housing market centered on real demand,” Kim said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-12 15:53:13

Cheong Wa Dae expresses regret over canceled meeting with DP, PPP leaders SEOUL, February 12 (AJP) - Cheong Wa Dae on Thursday expressed "regret" over the cancellation of a planned luncheon meeting hosted by President Lee Jae Myung with the leaders of the leading parties. "It is very regrettable that the meeting was canceled," said Hong Ik-pyo, senior presidential secretary for political affairs. "It was meant to improve communication and bipartisan cooperation on key state affairs, but the chance to fulfill that purpose was lost." Lee's planned meeting with the ruling Democratic Party (DP)'s leader Jung Chung-rae and the main opposition People Power Party (PPP)'s leader Jang Dong-hyeok was called off earlier in the day after Jang abruptly decided not to attend. Criticizing Lee's proposal for talks as a "mere photo-op" to distract from his wrongdoings, Jang cited a couple of reasons he could not attend. Among them was a DP-led bill to increase the number of Supreme Court justices, which opponents argue would undermine judicial independence by stacking the top court with ideologically like-minded and favorable judges. But Hong said Cheong Wa Dae would continue to seek cooperation and pursue dialogue to improve people's livelihoods. 2026-02-12 15:36:17

LocknLock highlights new products, meets partners at Ambiente 2026 SEOUL, February 12 (AJP) - South Korean household goods maker LocknLock said on Wednesday it has completed its participation in Ambiente 2026, the world’s largest consumer goods trade fair, held in Frankfurt from Feb. 6 to 10, where it showcased new and flagship products to global buyers. The company said the event, which drew brands and buyers from 176 countries, served as a platform to present its portfolio across food storage containers, beverageware, cookware and child-friendly product lines. LocknLock added that its booth was designed to allow visitors to navigate each product category and that it hosted partner invitation programs and on-site events to engage buyers and visitors. At the exhibition, LocknLock introduced a range of products planned for 2026, including items from Daekket, a premium cookware brand it launched earlier. The company said Daekket focuses on products that link cooking and plating and has received positive market feedback since its debut. In the food storage segment, LocknLock showcased its Fresh Maestro Vacuum Container, which uses a three-stage vacuum sealing system, while in beverageware it presented the Metro Café Ceramic Tumbler, featuring an interior ceramic coating designed to preserve beverage taste. The company said the tumbler drew strong interest from visitors. LocknLock also displayed products already popular in the Korean market, including the Suit stainless frying pan and the Schoolfit Switch Color stainless steel bottle, which changes color depending on temperature. The company said it held meetings with around 40 partners during the exhibition to discuss operational plans for new products and global sales strategies for 2026, and also met potential new buyers to explore opportunities in new markets. LocknLock exports to about 120 countries through eight overseas subsidiaries, including in Vietnam, the United States and Germany, and has expanded its business beyond food storage containers into beverageware and small appliances, it said. “During the exhibition, we discussed operational plans for new products and global sales strategies for 2026 with key partners, and confirmed the potential to expand into new markets through meetings with new buyers,” said a LocknLock representative. 2026-02-12 15:32:51

Culture minister vows bigger budget to back K-culture, weighs 'Korea Arena' concept "I will firmly support K-culture so it can keep pushing forward," Culture, Sports and Tourism Minister Choi Hwi-young said Feb. 12 at a meeting with reporters in Seoul, repeatedly stressing the need to significantly expand the culture budget. Choi said K-culture is gaining strength and spreading widely into everyday life around the world, adding, "I will not miss this opportunity." He said there is growing agreement that because culture and the arts are recognized as a driver of South Korea's economic growth, the government should increase spending. "I will move to expand the scale of cultural funding," he said. Choi pointed to a pop culture exchange committee that includes major figures in the global entertainment industry, saying the goal is to quickly identify and carry out projects that can speed and broaden K-culture's overseas expansion. He said the committee is discussing mid- and long-term ideas, including a plan for a global festival in 2027 that would bring artists from all agencies together in South Korea. He also said the ministry is reviewing concepts such as a "Korea Arena" and "Korea Stadium," inspired by Korea House, arguing that securing dedicated venues in cities around the world could allow South Korea to install a wide range of K-culture-related elements inside them. Asked about BTS holding a comeback performance at Gwanghwamun, Choi said, "I'm truly grateful," and pledged support so visitors from abroad have an enjoyable, memorable experience. He called it meaningful that a globally watched return would begin at Gwanghwamun and said the ministry is preparing for the event in consultation with BTS, describing it as a chance to showcase South Korea's core culture, including traditional culture, overseas. On tourism, Choi said he expects a stronger control tower as the National Tourism Strategy Meeting is elevated to report directly to the president. He said the move reflects the will of President Lee Jae Myung and said a comparison with Japan showed that Japan increased inbound tourism as then-Prime Minister Shinzo Abe personally pushed through difficult issues. Choi said the president has expressed a strong intention to take direct charge and break through obstacles, adding he expects it could become a turning point for a new leap forward. Choi also said he will work to quickly fill leadership vacancies at agencies under the ministry, including the Korea Creative Content Agency. On the Hangul signboard at Gwanghwamun, he said the government will decide whether to proceed after gathering public opinion through a public discussion process. Responding to criticism that expanding "Culture Day" would increase burdens on the industry, Choi said it is a misunderstanding to assume existing discount benefits would remain unchanged, adding that nothing has been set uniformly. He said the relocation of the Seoul Performing Arts Company to Gwangju will proceed, while additional plans to move other national arts groups outside Seoul are under review.* This article has been translated by AI. 2026-02-12 15:18:00

BTS Comeback D-37: 600 years, 1 night, and 7 voices bring the world together  SEOUL, February 10 (AJP) - Cities are defined by lines. In Joseon-era Hanyang (now Seoul), those lines were the four great gates. They marked where authority began and where daily life ended, where the state met the street. Within that geometry, one point drew all lines inward: Gwanghwamun, the royal gateway to Gyeongbokgung Palace. For centuries, this was where the king entered the city and the people first met power. Over time, it became something else as well — a site of protests, ceremonies, mourning and celebration. The former heart of a dynasty slowly evolved into the civic face of modern Seoul. What remained constant was its role as a threshold: between palace and street, authority and public, past and present.That threshold is now preparing to host a different kind of procession. The Forgotten Stage Beneath the City In front of Gwanghwamun once stood a broad ceremonial platform known as the weol-dae. Built in 1868 during the restoration of the palace, it elevated the gate both physically and symbolically. This was where royal authority was displayed, where rituals unfolded, and where the court faced the city. It disappeared in 1923, buried beneath tram tracks under the Japanese colonial rule. For nearly a century, it survived only in maps and memory. Then, during restoration work in 2010, its foundations re-emerged underground. After years of excavation and study, the wol-dae was fully restored in 2023. Stone by stone, time was stitched back into place. Today, it stands again — not as a relic, but as a working part of Seoul’s urban landscape. Another king's platform was set in the Geunjeongjeon, the throne hall where kings gave orders for everyday governance. If that inner weol-dae symbolized the king's elevated power, the outer one at Gwanghwamun represented connection — the meeting point of palace and people. It is here, at this historic edge, that BTS’s stage is expected to rise. The King’s Road, Reimagined From Geunjeongjeon, through Heungnyemun, and out to Gwanghwamun, runs a straight ceremonial axis once reserved for royal processions. It was known, informally, as the king’s road. For centuries, only authority moved along it. The government and people have granted for the entrance of seven musicians. According to event plans, the performance area is expected to stretch from the palace gates to the northern end of Gwanghwamun Square, aligning with the statues of King Sejong and Admiral Yi Sun-sin. Large screens will extend the stage across the plaza, turning the entire space into a single, continuous performance zone. The concert will unfold across a historic corridor. A route once designed for monarchs will guide a global pop phenomenon. When History Meets the Present There is a reason this setting matters. Gwanghwamun has always been more than architecture. It is where Korea’s political, cultural and emotional currents have repeatedly converged. Dictatorships fell here. Candlelight protests filled this square. National mourning unfolded on these stones. Now, music will. On stones shaped for royal ritual, choreography will unfold. Along an axis designed for kings, fans will gather. Beneath gates built to defend a dynasty, music will travel instantly around the world. It is a reminder of how Seoul moves forward: not by erasing its past, but by reusing it. From the four gates to the central gate, from throne halls to public squares, from royal processions to pop anthems, one line continues to run through Seoul. On March 21, that line will carry sound, light and memory — from the heart of a former kingdom to a global audience. The oldest stage will host the most contemporary voice. 2026-02-12 15:17:40