Qoo10 Founder Gu Young-bae Denies Fraud Charges in Tmon-Wemakeprice Settlement Case Executives at Qoo10 Group, including founder Gu Young-bae, denied fraud allegations in court after prosecutors filed additional charges tied to the Tmon-Wemakeprice unpaid settlement crisis. The criminal trial over responsibility for the large-scale nonpayment is now moving into a fuller phase. The Seoul Central District Court’s Criminal Division 24, led by Judge Lee Young-seon, held a hearing on 21 for Gu and seven others, including Ryu Gwang-jin of Tmon and Ryu Hwa-hyeon of Wemakeprice, on charges including fraud and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes. Prosecutors said Gu, Qoo10 Technology head Kim Hyo-jong and Qoo10 finance chief Lee Si-jun conspired to deceive marketplace sellers into believing payments would be made even after Qoo10 had lost the ability to pay settlement funds, and allegedly took about 844 million won. Gu’s attorney said the defense denies the indictment, and the other defendants took the same position. Whether the company was already unable to make settlements, and whether executives intentionally misled sellers, is expected to be central to the case. The court decided to merge the newly indicted case with the ongoing trial over the broader Tmon-Wemakeprice settlement crisis, meaning allegations of fraud, breach of trust and embezzlement will be heard together. Prosecutors previously indicted Gu and others in December, alleging they misappropriated about 1.85 trillion won in seller settlement funds from Tmon and Wemakeprice and embezzled about 100 billion won by siphoning affiliate money under the guise of loans and consulting fees. Authorities have put total damages at 1.8563 trillion won. The crisis surfaced in July 2024, when it became known that about 500 merchants on Wemakeprice did not receive payments on their scheduled settlement date. The nonpayment later spread to Tmon, widening the fallout. Qoo10, a Korea-linked e-commerce company founded in Singapore, acquired Tmon in 2022 and Wemakeprice in 2023. After the settlement crisis deepened its management troubles, Tmon was sold to Oasis, and Wemakeprice entered bankruptcy proceedings. Separately, Gu and others are also on trial over allegations of unpaid wages and severance. Prosecutors said they failed to pay about 5.6 billion won in wages to 613 workers and about 20.7 billion won in severance to 733 workers. Future hearings are expected to focus on when the company lost the ability to make settlements, what executives knew at the time, and whether fund management violated the law. * This article has been translated by AI. 2026-04-21 16:00:52

Number of EVs tops 1 million in cumulative registrations SEOUL, April 21 (AJP) - The number of registered electric vehicles this year has surpassed 100,000 as of last week, bringing cumulative registrations to more than 1 million, the Ministry of Climate, Energy and Environment said on Tuesday. The milestone is coming faster than in previous years, as it took until early July to hit 100,000 registrations last year, and until mid-September a year earlier. Until March, EVs accounted for about 20 percent of new vehicle registrations, or 83,533 units out of 415,746, much higher than 13 percent in 2025 and 8.9 percent in 2024. The ministry attributed the increase to a wave of new models, fiercer price competition among automakers, expanded government subsidies, and incentives for those switching from internal combustion vehicles. Some market watchers also pointed to surging fuel prices due to supply disruptions caused by the prolonged conflict in the Middle East. The trend is likely to continue, as the government's supplementary budget will extend subsidies to an additional 20,000 passenger cars and 9,000 trucks, bringing this year's estimated total to 280,000 passenger cars, 45,000 trucks, and 3,800 buses. "This year will be recorded as a historic year that opens the era of 1 million electric vehicles," said Minister Kim Sung-hwan, vowing that the government will take steps to ensure EV users face no inconvenience. 2026-04-21 15:59:30

Indonesia’s Megawati urges revival of Bandung Conference amid global tensions Indonesia’s former President Megawati Sukarnoputri on the 18th called for the Asia-Africa Conference, known as the Bandung Conference, to be convened again so countries can renew solidarity, marking the 71st anniversary of the meeting that helped lay the foundations of the Non-Aligned Movement. Referring to U.S. attacks on Venezuela and Iran, she said “the international order is being shaken.” She said rising geopolitical tensions are “a wake-up call to the world,” and argued that countries should return to the principle of equality among nations set out in the “10 Principles of Bandung.” The Bandung Conference was held in April 1955 in Bandung, West Java, with 29 countries taking part. A joint statement issued afterward set out principles including respect for national sovereignty, noninterference in internal affairs and equality among states. Megawati is the eldest daughter of Sukarno, Indonesia’s first president and a “father of the nation.” She is chair of the Indonesian Democratic Party of Struggle (PDIP), the largest party in parliament. 2026-04-21 15:57:15

Kolon Industries to Showcase Sustainable Engineering Plastics at Chinaplas 2026 Kolon Industries is showcasing sustainable materials solutions at Asia’s largest chemical industry exhibition. The company said April 21 it is taking part in Chinaplas 2026, being held in Shanghai through April 24. Chinaplas draws about 4,000 companies worldwide and is considered one of the three major global chemical industry exhibitions, along with the U.S. NPE and Germany’s K-SHOW. Under the theme “e-Mobility & Sustainability,” Kolon Industries is exhibiting automotive engineering-plastics parts and high-strength POM (polyoxymethylene). It plans to highlight its sustainability capabilities with eco-friendly products such as PCR (post-consumer recycled) PA (polyamide) made with recycled plastics and bio-based POM. In automotive parts, the company is focusing on engineering plastics for electric vehicles. Its PA materials, citing high rigidity, dimensional stability, heat resistance and color stability, can be used for battery pack housings and charging door modules. Products using high-strength HS POM are also a key display item. The company said HS POM offers at least 10% higher mechanical strength and wear resistance than general POM and is used for auto window motor gears and seat belt parts. A dedicated display zone will be set up around the material. Kolon Industries is also presenting products for medical and consumer applications, including insulin pens, showerhead parts and cosmetic containers, to underscore quality competitiveness that meets global standards. As background, the company said it strengthened its high value-added portfolio by merging its engineering plastics subsidiary, Kolon ENP, into the parent company on April 1. It added engineering plastics to its mobility, specialty and chemical businesses as it accelerates a shift toward becoming a global specialty materials company. “Eco-friendly engineering plastics are an effective solution for building a sustainable industrial ecosystem,” said Jeong Hong-ryeong, head of Kolon Industries’ ENP Business Division. “We will continue to expand our eco-friendly product portfolio based on our technology.”* This article has been translated by AI. 2026-04-21 15:55:04

Samchully Asset Management Expands AI Infrastructure Investments in Power, Data Centers and Grids Samchully Asset Management is expanding integrated infrastructure investments across power generation, data centers and electric grids to meet demand in the artificial intelligence era. The firm said on the 21st it is pursuing a strategy that spans renewable power supply, a data center-centered infrastructure value chain, and next-generation grid investments such as CPOs (charging point operators) and VPPs (virtual power plants). To respond to surging electricity demand driven by wider AI adoption, the company said it is focusing on expanding a global renewable energy portfolio. It began in 2020 by forming a 200 billion won renewable-energy blind private equity fund and now manages four infrastructure PEFs totaling 396.1 billion won, along with multiple renewable-energy trust funds. It is investing a total of 1.55 gigawatts in projects in South Korea and in the United States, Australia and France, it said, to build a stable power-supply base. Samchully Asset Management is also accelerating efforts to secure a data center value chain. It said it is pursuing vertical integration, linking power production and supply to data center operations based on its own generation assets. In Yongin, Gyeonggi Province, it is investing to develop a 60-megawatt hyperscale data center and an urban edge data center. The company said it plans to combine external grid connections with its own generation facilities to ensure stable power supply. The firm said it is expanding investments aimed at building future power networks. On the physical side, it plans to build CPO infrastructure that includes electric-vehicle charging stations and energy storage systems. On the operational side, it plans to improve demand forecasting and efficiency through a VPP platform that integrates and manages distributed energy resources. The company said the goal is to optimize supply and demand and generate revenue through electricity sales. Samchully Asset Management said it has built broad investment experience from conventional energy to renewables, positioning itself as an energy-focused asset manager, and has expanded into alternative investments such as corporate finance and real estate. "We are expanding investments into a range of areas including AI-based infrastructure, secondary batteries and power semiconductors, and continuing proactive investment and management across the value chain," the company said. "We will lead investment trends and strengthen the foundation for future growth in a rapidly changing AI era." 2026-04-21 15:54:23

Naver, Krafton, Mirae Asset unveil India-focused tech fund during presidential visit SEOUL, April 21 (AJP) - South Korean internet giant Naver joined forces with gaming company Krafton and financial services firm Mirae Asset to hold a briefing in New Delhi on Tuesday to promote the Unicorn Growth Fund, a jointly established investment vehicle targeting up to 1 trillion won ($681 million) in high-growth technology companies across Asia with India at its core. The briefing was held on the sidelines of President Lee Jae Myung's three-day state visit to India, the first by a South Korean leader in eight years. South Korean Minister of Trade, Industry and Resources Kim Jung-kwan, who attended the briefing, said the initiative could serve as a bridgehead for Korean companies seeking to enter emerging markets. The fund, which began operations earlier this year with an initial pool exceeding 500 billion won, builds on the success of the Asia Growth Fund that Naver and Mirae Asset co-launched in 2018. That predecessor fund backed prominent unicorns including Indian food delivery platform Zomato and Southeast Asian ride-hailing giant Grab. Krafton CEO Kim Chang-han said the company would leverage its track record in India's gaming ecosystem to support promising firms through the fund. Separately, Naver has forged a strategic partnership with Tata Consultancy Services (TCS), the information technology arm of India's largest conglomerate, as it accelerates its foray into one of the world's fastest-growing digital economies. Naver said it signed a memorandum of understanding with TCS on Monday during the Korea-India Business Forum in New Delhi, hosted by the Federation of Korean Industries. Under the deal, the two companies will combine their capabilities in artificial intelligence, cloud computing and business-to-consumer services to pursue opportunities in AI transformation and digital transformation for Indian enterprises. The IT firm said it expects the partnership to unlock new revenue streams by pairing its platform technology with TCS's global service network and data assets. "As India is actively expanding its AI ecosystem with the goal of becoming an AI powerhouse, we expect to create new business opportunities through this partnership with TCS, leveraging collaboration in AI, cloud and B2C services," Naver CEO Choi Soo-yeon said. 2026-04-21 15:51:26

Incheon Mayor Yoo Jung-bok Rejects Lawmaker’s Criticism Over Incheon KTX Delays Incheon Mayor Yoo Jung-bok on April 21 pushed back against criticism from Rep. Park Chan-dae over delays to the Incheon KTX project. After Park raised the delay issue in a morning post on social media, Yoo responded in his own post following an inspection at Songdo Station. The Incheon KTX project is being pursued with a target opening in December 2026, and overall progress — including expansion work at Songdo Station — stands at about 71%. Yoo wrote that he had held back from talking about the project because it was “my biggest achievement,” but said Park’s mention of it gave him an opening to ask: “First, who came up with the Incheon KTX and who has pushed it forward; second, what role did the Democratic Party and Rep. Park play; and third, who interfered and delayed the Incheon KTX?” Yoo said he made the Incheon KTX his top campaign pledge when he ran for mayor in 2014, and that the project was pushed quickly with a 2021 opening target. He added that the transport minister at the time officially announced the opening would proceed without setbacks, and said he put the project “back on track” after returning as mayor in 2022. Yoo focused his criticism on the 2018 transition to the city’s seventh elected administration, writing that the incoming team for then-Mayor-elect Park Nam-choon announced a delay that “turned the 2021 opening goal into nothing,” leaving Incheon residents to bear the impact. In June 2018, Park’s transition committee said it expected the earliest possible opening to slip three years, from 2021 to 2024. The project was later delayed further through changes to the implementation plan. In 2025, the project’s completion date was adjusted again to December 2026, citing a cultural heritage excavation survey and measures to relocate legally protected species. Addressing Rep. Park, Yoo wrote that the Democratic Party had “stood by” during the confusion and delays under the seventh administration, and said Park — who Yoo wrote now intends to run for mayor — was trying to damage him without understanding the full context. Yoo added that Incheon residents already know where responsibility lies for the delay, and said Park should first apologize to the public. He also accused Park of political attacks, calling them “a self-defeating move” and “an own goal.” The Incheon KTX project includes building a new 3.19-kilometer connection line linking the Suin Line and the Gyeongbu high-speed rail line, and upgrading Songdo, Choji and Eocheon stations. Incheon City said during the site inspection that it plans to complete major work, including roadbed construction, by the first half of the year, begin integrated test runs in August, and aim for an opening by year’s end. At the site, Yoo called the Incheon KTX a key transport project that would significantly improve residents’ mobility, and urged thorough management to ensure safe, disruption-free construction. The city said it views the line as a core axis of regional transportation and is also pursuing plans to extend it to Incheon International Airport and to develop a mixed-use complex around Songdo Station.* This article has been translated by AI. 2026-04-21 15:51:22

South Korea Launches Global K-Founders Network in India to Expand Startup Cooperation South Korea's Ministry of SMEs and Startups said it held a launch ceremony Monday for the 'Global K-Founders Network in India' at the Global Business Center (GBC) in New Delhi. The Global K-Founders Network is an international project the ministry is starting this year to connect Korean entrepreneurs and investors working across the world. The ministry said it plans to step up efforts to help Korean startups expand overseas, including through high-level talks with the Indian Institutes of Technology (IIT). Starting with the India launch, the ministry said it will broaden exchanges to major regions including the United States, Europe and Southeast Asia, aiming to build a sustainable, private-sector-led framework for international cooperation. The ministry said it chose India as the first hub for supporting Korean startups abroad, citing the country's large domestic market and strong human resources. On Sunday, the ministry said it activated a Korea-India SME cooperation working group with India's Ministry of Micro, Small and Medium Enterprises and signed a memorandum of understanding to build a partnership to support small and midsize companies entering India. First Vice Minister Noh Yong-seok said, “If India's outstanding talent and Korea's innovative startup capabilities come together, it will create strong synergy, and we will further solidify cooperation between the two countries' startup ecosystems so that Korea's 'Entrepreneurship for All' can succeed on the global stage as well.” 2026-04-21 15:50:31

Anabuki-Backed JV to Manage Housing Complex at New Ho Chi Minh City Resort Condominium management firm Anabuki Housing Service said its Vietnam joint venture, Anabuki NL Housing Service Vietnam, in which it holds a 69% stake, signed an operations and management contract on the 18th with local company MDS for a housing complex being developed at a new resort in southern Ho Chi Minh City. The complex, LumiAn Village, is in the heart of the Dat Do resort area in the former Ba Ria-Vung Tau province. It will include townhouses and villas and feature gated shared amenities totaling 4,000 square meters, including a swimming pool, clubhouse, restaurant, pickleball courts, a golf practice range and an outdoor theater. Anabuki NL Housing Service Vietnam began managing LumiAn Village on the 10th of this month, covering 6.3 hectares. As of now, only the clubhouse, model home and swimming pool have been completed, and the residential area will be developed later. 2026-04-21 15:49:47

Samsung Compliance Chief Urges Caution as Union Plans Rally, Strike With a large rally by a Samsung Electronics labor union set for the next day, Lee Chan-hee, chairman of Samsung’s Compliance Monitoring Committee, urged caution, saying Samsung is viewed not simply as a private company but as a “national company.” He said many people are directly and indirectly connected to the company, including shareholders and investors, and the union should act more carefully. Lee made the remarks on April 21 before a regular meeting of the committee’s fourth term at Samsung Life Insurance’s Seocho building in Seoul. He said he hopes the labor-management conflict, which Samsung is facing for the first time, will be resolved “rationally and in an exemplary way” befitting the company’s standing. Samsung Electronics and the union remain deadlocked over wage talks, including a demand to remove the cap on performance bonuses, and negotiations have been suspended. Management proposed compensation that could exceed the cap on excess profit incentive pay, or OPI, through special rewards if the Device Solutions, or DS, division that runs the semiconductor business achieves the industry’s No. 1 position in South Korea. The union is demanding distribution of 15% of operating profit. The union plans to hold a large rally on April 23 at the company’s Pyeongtaek campus in Gyeonggi province and then strike from May 21 to June 7. The union claims a strike could cause losses of 20 trillion won to 30 trillion won if it leads to disruptions such as semiconductor line shutdowns. The company has asked a court for an injunction to bar what it calls illegal labor actions, citing the possibility of unlawful acts such as occupying worksites. A decision is expected soon. On the escalating dispute, Lee said reaching agreement through dialogue is most important, adding it was regrettable that the situation left room for the matter to move into criminal procedures. He said he agrees workers’ rights should be better protected, but added that human rights among workers should also be treated as a basic right. He said the union has not entered an illegal stage so far and added the committee is monitoring the situation to prevent any crackdown or violence driven by unlawful intent. The fourth-term committee, launched in February, has strengthened expertise in labor-management issues. It appointed Kim Kyung-sun, a labor and women’s policy expert, and Lee Kyung-mook, an expert in corporate organization and human resources management, as new members. Lee said the committee reorganized its labor subcommittee into a “Labor Rights Subcommittee” to match the expanded expertise. He said it will consult with a labor-management advisory group and set the committee’s direction based on expert advice. Lee also addressed prosecutors’ recent investigation into suspected insider trading involving Samsung Electronics and Rainbow Robotics. He said it is difficult to comment because the case is under investigation, but added the committee has reviewed the matter through affiliates. Prosecutors are investigating allegations that employees engaged in insider trading during Samsung Electronics’ acquisition of a stake in Rainbow Robotics. Last month, the Seoul Southern District Prosecutors’ Office’s joint financial and securities crime unit conducted searches and seizures at Samsung Electronics’ headquarters in Suwon, Gyeonggi province, and Rainbow Robotics’ headquarters in Yuseong-gu, Daejeon. Homes of employees at both companies who are subject to the probe were also included in the searches. 2026-04-21 15:48:54