[[K-Pop]] Rapper PSY under police investigation over alleged proxy receipt of prescription drugs SEOUL, August 28 (AJP) - South Korean rapper PSY, well known for his global hit song "Gangnam Style," is under police investigation on suspicion of violating medical laws by allegedly receiving prescription-only psychotropic drugs through a proxy, authorities confirmed Thursday. According to the Seodaemun Police Station in Seoul, the 47-year-old K-pop star and a university hospital professor are being investigated following a complaint that accused them of breaching medical regulations. Police are also looking into whether PSY's manager collected the medication on his behalf. Investigators suspect that since 2022, PSY has obtained prescriptions for Xanax and Stilnox, both classified as psychotropic drugs for treating anxiety and sleep disorders, from a Seoul university hospital without in-person consultations and had them picked up by his manager. The police recently raided the hospital to secure related medical records. Under South Korean law, such drugs must be prescribed after face-to-face consultations, and patients are required to collect them in person. Proxy receipt is only permitted in limited cases, such as by a family member or caregiver. Temporary rules during the COVID-19 pandemic allowed phone prescriptions and proxy collection beginning in February 2020, but those measures were rolled back in November 2021. In a statement released through his agency, Pnation, PSY admitted fault in allowing a third party to collect prescription sleeping pills on his behalf. "The proxy collection of prescription sleeping pills was clearly a mistake and negligence. We are sorry," the statement said. The gaency added that PSY has long suffered from chronic sleep disorders and has taken sleeping pills only under medical supervision at prescribed dosages. "There was no proxy prescription," the agency stressed. "However, there were cases where sleeping pills were collected by a third party, and the police are currently investigating. We sincerely apologize once again for causing concern." 2025-08-28 13:36:24

Probe into martial law debacle likely to hit snag as ex-PM avoids arrest SEOUL, August 28 (AJP) - Independent investigators probing disgraced former President Yoon Suk Yeol's martial law debacle are likely to face a setback in their inquiry after former Prime Minister Han Duck-soo avoided arrest on Wednesday. The Seoul Central District Court rejected a request for an arrest warrant for Han, citing that there is "room for legal dispute" over his alleged role in the debacle late last year, which eventually led to Yoon's ouster from office in April of this year. The court also dismissed prosecutors' concerns that he might destroy evidence. Prosecutors had sought Han's arrest on charges of dereliction of duty, perjury, and document falsification, believing that he conspired with Yoon and former Defense Minister Kim Yong-hyun to prepare documents related to Yoon's Dec. 3 declaration of martial law. Han, who initially denied all allegations, claiming he only learned of Yoon's plan to declare martial law during a late-night cabinet meeting that day, recently admitted he was aware of it after CCTV footage and other evidence emerged. Han reportedly insisted through his lawyers that he did not collude with Yoon, arguing that the urgently convened cabinet meeting lasted only a few minutes, leaving him no time to object to Yoon's plan. Among the former cabinet members, Kim and ex-Interior Minister Lee Sang-min have been arrested on related charges and are currently detained at separate remand prisons. Prosecutors are now weighing whether to file another request for an arrest warrant against Han. 2025-08-28 11:25:14

LG H&H weighs sale of beverage unit amid broader restructuring push SEOUL, August 28 (AJP) - LG Household & Health Care, South Korea’s leading consumer goods company, is weighing the sale of its beverage subsidiary Haitai HTB. The company has tapped Samjong KPMG as lead adviser to evaluate options for Haitai HTB, formerly Haitai Beverage, as part of a broader review of its drinks division. Haitai HTB, best known for its Sunkist and Cocopalm juices, generated 414 billion won ($301 million) in revenue and 3.6 billion won in operating profit last year. LG, which acquired Haitai in full in 2010 and rebranded it six years later, reported overall beverage revenue of 1.82 trillion won in 2023, with operating profit of 168.1 billion won. The review does not extend to its Coca-Cola bottling operations, which remain a core part of its drinks portfolio. The possible divestment comes as LG H&H faces mounting pressure from investors after posting disappointing second-quarter results. Revenue fell 8.8 percent from a year earlier to 1.6 trillion won, while operating profit plunged 65.4 percent to 54.8 billion won, sharply missing market forecasts. The company has also struggled in its flagship cosmetics business, where pandemic disruptions in China — once its largest overseas market — eroded growth. While global demand for so-called K-beauty products has surged, LG H&H has failed to keep pace and has been restructuring its overseas operations. An LG spokesperson said the company was exploring “various options,” emphasizing that no final decision had been made. “This review is not only about divestment,” the spokesperson said, “but about structural reorganization and distribution optimization across multiple fronts.” 2025-08-28 10:00:05

OpenAI to launch Seoul office in September SEOUL, August 28 (AJP) - OpenAI, the San Francisco company behind ChatGPT, will open a branch office in Seoul next month, underscoring its push to cement a foothold in Asia’s artificial intelligence market. The new office, OpenAI Korea, will be located on Teheran-ro in Gangnam, Seoul’s financial and technology corridor. The company is scheduled to hold a press conference on Sept. 10 to mark the opening, according to industry officials. Jason Kwon, OpenAI’s chief strategy officer, is expected to outline the company’s regional roadmap and introduce the local office head, who has yet to be named. OpenAI has been recruiting for its Korean operation since May, advertising six roles and building a staff of about 10. The Seoul branch will be the company’s 12th worldwide and its third in Asia, following Japan and Singapore. OpenAI also maintains offices in Britain, France and Germany. The expansion reflects the company’s rapid adoption in South Korea, where ChatGPT has become one of the country’s most widely used digital services. South Korea ranks second only to the United States in paid ChatGPT subscriptions, and more than 10 million people used the service in May, according to Mobile Index, an app analytics firm. On Aug. 18, OpenAI recorded its highest daily active user count in Korea: 3.33 million. 2025-08-28 09:52:32

Korea Zinc emerges as key player in global battle for critical minerals Editor's Note: This article is the 33rd installment in our series on Asia's top 100 companies, exploring the strategies, challenges, and innovations driving the region's most influential corporations. SEOUL, August 27 (AJP) - As Washington scrambles to secure supplies of critical minerals, a South Korean metals giant has emerged as an unlikely player in the great-power contest — and a target of boardroom intrigue at home. Korea Zinc, the world’s largest non-ferrous metal smelter, shipped its first batch of antimony to Baltimore in June, a milestone for both U.S.-Korea ties and Washington’s efforts to cut reliance on Chinese-dominated supply chains. The mineral, essential for producing ammunition and missiles, is among the materials the Pentagon deems vital for national security. “South Korean exports of antimony to the U.S. will play an important role in diversifying supply chains away from their original dependence on China,” said Park So-young, a senior researcher at the Korea International Trade Association. Yet even as Korea Zinc positions itself as a linchpin in Western supply chains, the company faces an existential threat at home: a hostile takeover attempt by its founding partner and largest shareholder, Young Poong. The drama traces back to 1974, when entrepreneurs Chang Byung-hee and Choi Ki-ho created twin corporate empires — Young Poong, controlled by the Chang family, and Korea Zinc, run by the Chois. For nearly five decades, the arrangement held. Korea Zinc built smelters for zinc, copper and lead, then expanded globally with Sun Metals Corporation in Australia in 1996. By late 2023, it had begun building the world’s first integrated nickel smelter. The balance shifted in 2022, when Choi Yun-birm, grandson of co-founder Choi Ki-ho, became chairman and began cutting ties with Young Poong. A year later, Young Poong, backed by private equity giant MBK Partners, launched a tender offer to acquire nearly 15 percent of Korea Zinc. The battle has since spiraled into lawsuits, shareholder clashes and speculation about Chinese influence. Korea Zinc struck back in January, with its Australian unit buying a 10 percent stake in Young Poong — a countermove that all but ensured a prolonged stalemate. Despite the turmoil, Korea Zinc reported its strongest-ever half-year results in August: 7.66 trillion won (about $5.5 billion) in revenue, up 41 percent from a year earlier, and 530 billion won in operating profit. It was the company’s 102nd consecutive profitable quarter. The surge was fueled by its unique capacity to extract more than 10 types of rare metals from ore concentrates. Antimony sales alone rose nearly 30 percent in volume, with revenue more than quintupling. Silver and gold revenues also jumped, reflecting strong demand for precious and industrial metals. Betting on the future Choi has framed the company’s “Troika Drive” strategy — focused on green hydrogen, secondary battery materials and resource recycling — as essential for Korea Zinc’s survival. Speaking at the company’s 51st anniversary in August, he alluded to the takeover fight without naming names. “Last September, we faced a shocking challenge that made us reconsider our company’s reason for existence and the values we must protect,” he said. On Aug. 25, Korea Zinc announced a memorandum of understanding with Lockheed Martin to supply germanium, a key mineral used in night-vision gear and satellite systems. The company plans to invest about $100 million in a new germanium plant in South Korea, slated to open in 2028. The contest for Korea Zinc carries stakes beyond corporate Korea. In an era when minerals underpin both clean-energy transitions and national defense, the company’s independence — and its orientation toward Western supply chains — could prove as consequential as the metals it refines. 2025-08-28 09:47:28

PHOTOS: From darkness to light, Gwangmyeong Cave SEOUL, August 27 (AJP) - Standing at the entrance of Gwangmyeong Cave, the sweltering 35-degree summer heat gives way to a sudden chill of 12 degrees. The cool air feels like a natural air conditioner, yet it carries the weight of history. An information board reminds visitors that this was once the Siheung Mine, opened in 1912 during Japan’s colonial rule, when tunnels were dug to extract gold, silver, copper, and zinc. The very path now walked by tourists was once carved for forced labor. The deeper one goes, the clearer the traces of the past become. Vertical shafts open in all directions, massive chambers blasted out with dynamite, and ceilings so low one can almost touch them. From 1912 to 1945, Korean laborers were forced to mine here under harsh and dangerous conditions, their work fueling the war machine of imperial Japan. With no proper equipment and the constant risk of collapse, the suffering of those years is palpable in the darkness. At its peak, the mine produced more than 250 tons of ore a day, making it the largest metal mine in the Seoul metropolitan area. The site is built on eight levels, from ground level to seven stories below. Today, underground water has flooded levels two through seven, turning them into submerged caverns. Even the first level, now open to the public, was once filled with water until it was drained. When the mine closed in 1972, it was abandoned for over 40 years. The tools of the miners lay forgotten in the dark, while environmental damage from floods in the 1970s scarred nearby fields. The space remained sealed until 2011, when the city of Gwangmyeong began restoring it, determined to turn a place of pain into a place of remembrance and hope. Deeper inside, a dazzling scene unfolds. Beams of light cascade from the ceiling in the “Wormhole Plaza,” while the Golden Waterfall glitters under golden lighting, its flow transformed into art. What was once water to quench miners’ thirst has become a centerpiece for visitors. Other displays include massive statues of Yoda and dragons, alongside pop culture figures. One of the most unique sections is the Wine Cave, where bottles of Korean wine are stored and aged under the cave’s steady temperature and humidity. What was once a chamber for storing minerals has been transformed into a space for cultivating homegrown wines, which visitors can also purchase. The cave also preserves its mining past through exhibitions of tools, uniforms, and photographs that recreate the miners’ daily lives. The site now attracts more than one million visitors each year, becoming a landmark of Gwangmyeong. That such a place exists less than an hour from Seoul is a surprise to many. The power of the site lies in its ability to preserve painful history while giving it new value. Rather than erasing the scars, Gwangmyeong Cave transforms them into a place of reflection and renewal. It is, in every sense, where darkness has turned into light. 2025-08-27 17:29:11

Hyundai consolidates shipbuilding units as US defense ties deepen SEOUL, August 27 (AJP) - HD Hyundai Heavy Industries and HD Hyundai Mipo Dockyard said Wednesday they would merge by the end of the year, creating South Korea’s largest shipbuilder as the country seeks to expand its role in global naval modernization and deepen cooperation with the United States. The boards of both firms and their parent company, HD Korea Shipbuilding & Offshore Engineering, approved the consolidation, which will fold Mipo into Hyundai Heavy. Shareholders and regulators must still sign off, but the companies expect the transaction to close in December. The combination unites the world’s biggest commercial shipbuilder with a leading mid-sized yard, a move Hyundai executives say will yield economies of scale, sharper technological capabilities and stronger competitiveness against consolidated rivals in China and Japan. The merged entity will lean heavily into the global defense boom. Hyundai Heavy is already South Korea’s top naval shipbuilder, with a track record in destroyers, submarines and export contracts, while Mipo brings dry-dock capacity and facilities that are suited for warship projects. Together, the companies have set a target of 10 trillion won, or $7.15 billion, in annual defense revenue by 2035. The merger comes just days after HD Hyundai signed a memorandum of understanding on maritime investment with U.S. counterparts, part of a $150 billion initiative dubbed “Make American Shipbuilding Great Again,” or MASGA. The effort underscores Seoul’s growing role as Washington’s shipbuilding partner at a time when global navies are racing to modernize fleets. Hyundai executives also framed the consolidation as a way to accelerate development in specialized vessels such as icebreakers — tied to the Alaska liquefied natural gas project — and to scale up investment in green propulsion systems across vessel sizes. By pooling research, they said, the combined company could cut costs and shorten development timelines. To further streamline its global operations, HD Korea Shipbuilding & Offshore Engineering plans to establish an overseas investment arm in Singapore in December. The new unit will oversee Hyundai’s shipyards in Vietnam and the Philippines, and spearhead international expansion in bulk carriers and tankers, where Chinese competitors have been capturing market share. 2025-08-27 17:19:44

Son Heung-min gears up for ceremonial first pitch at Dodger Stadium SEOUL, August 27 (AJP) - Son Heung-min, who made his Major League Soccer (MLS) debut with Los Angeles FC (LAFC) earlier this month, is set to throw his ceremonial first pitch at Dodger Stadium in California on Wednesday. Excitement has been building among his fans, as LAFC posted a couple of clips of him practicing ahead of his upcoming pitch at the Dodgers' home game against the Cincinnati Reds. With Los Angeles being home to the largest Korean community in the U.S., many compatriots and other fans are expected to pack the ballpark to catch a glimpse of their favorite star. They are also looking forward to his anticipated encounter with Japanese star and Dodgers ace Shohei Ohtani. Earlier this week, V, a member of K-pop juggernaut BTS, also threw the ceremonial first pitch at the stadium. After ending his 10-year stint with Tottenham Hotspur in the English Premier League, Son signed a record MLS deal worth around US$26 million on Aug. 6 to join the American club. His contract runs through 2027, with two one-year renewal options. He scored his debut goal in an away match against FC Dallas in Texas last Saturday, his third MLS appearance, though the game ended in a 1-1 draw. 2025-08-27 17:07:12

Regulators raid MBK Partners in expanding Homeplus probe SEOUL, August 27 (AJP) - South Korean financial regulators raided the Seoul headquarters of MBK Partners on Wednesday, intensifying a long-running inquiry into the private equity firm’s role in the financial troubles of Homeplus, one of the country’s largest discount retailers. Dozens of inspectors from the Financial Services Commission and the Financial Supervisory Service were dispatched to MBK’s Gwanghwamun office, officials said, as part of a joint probe into whether the firm engaged in unfair trading practices during and after its 2015 acquisition of Homeplus. The move comes amid mounting political scrutiny and labor unrest. Homeplus announced earlier this month that it would shutter 15 of its 68 leased stores, sparking renewed criticism from employees and lawmakers, who argue that MBK’s debt-fueled takeover saddled the retailer with unsustainable costs. “The massive financial expenses incurred during the M&A, including loan interest payments, fell on Homeplus, significantly deteriorating the company’s operation,” the Homeplus labor union said in a statement in March. Regulators have been examining whether MBK concealed financial distress at Homeplus while issuing short-term bonds, and whether it had already anticipated a credit downgrade and a potential corporate rehabilitation filing. Officials said Wednesday they had secured evidence that preparations for such a filing were underway even as the bonds were sold. Some individuals tied to the case have already been referred to prosecutors, according to the authorities. The latest phase of the investigation is expected to widen the focus to MBK’s fundraising process for the Homeplus buyout, including how it recruited limited partners and whether the deal’s leveraged structure imposed excessive strain on the retailer’s balance sheet. Sanctions for unfair trading and internal control violations are reportedly under consideration. The case has also become a political flashpoint. Lawmakers from the ruling Democratic Party, which controls the National Assembly, have called for a hearing into MBK’s role. Lee Chan-jin, the new head of the Financial Supervisory Service, has long been a critic of the firm. Last year, as a civic activist, he warned that public investment in MBK would amount to “a breach of duty” for the National Pension Service. Kim Byoung-hwan, chairman of the Financial Services Commission, told lawmakers on Aug. 21 that regulators would “review whether there are areas where supervisory authorities can take appropriate action against MBK Partners.” 2025-08-27 16:58:33

[[K-Pop]] BTS' 'Fake Love' racks up over 1 billion streams on Spotify SEOUL, August 27 (AJP) - Another song by K-pop juggernaut BTS has surpassed 1 billion streams on the world's largest streaming site Spotify, according to their management agency BigHit Music this week. "Fake Love" from their third full-length album "Love Yourself: Tear" reached the milestone last Sunday since its release in May 2018, becoming the septet's fifth song to do so after "Dynamite," "My Universe," "Butter," and "Boy With Luv." The song, which conveys the heartbreak of realizing that a love once thought to be fate was actually a lie, peaked at No. 10 on the U.S. Billboard Hot 100 just two weeks after its release. Meanwhile, BTS member Jungkook's "3D," featuring American rapper Jack Harlow, recently surpassed 1 billion streams, joining his earlier hits like "Left and Right," "Seven," and "Standing Next to You." He now has the most billion-stream songs of any K-pop solo artist on Spotify. 2025-08-27 16:32:25