Kwon Seong-dong Sentenced to 2 Years in First Trial Over Alleged 100 Million Won Unification Church Payment Breaking: Kwon Seong-dong, accused of taking 100 million won from the Unification Church, was sentenced to two years in prison in a first trial.* This article has been translated by AI. 2026-01-28 16:21:44

Kim Keon Hee Sentenced to 1 Year, 8 Months; First Case of Ex-President Couple Jailed Together Kim Keon Hee, who was indicted in custody on charges including receiving valuables tied to the Unification Church, was sentenced to prison in a first-trial ruling. The decision came after former President Yoon Suk Yeol was sentenced to five years in prison on charges of obstructing an arrest by the Corruption Investigation Office for High-ranking Officials, marking the first time in South Korea’s constitutional history that a former president and spouse have both received prison terms at the same time. The Seoul Central District Court’s Criminal Division 27, led by Presiding Judge Woo In Sung, sentenced Kim to one year and eight months on charges of violating the Capital Markets Act, violating the Political Funds Act and influence peddling under the Act on the Aggravated Punishment of Specific Crimes. The court ordered the confiscation of one seized Graff necklace and imposed forfeiture of 12,815,000 won, payable in advance. The court found Kim guilty on only part of the influence-peddling allegations involving the receipt of money and valuables connected to Unification Church-related matters. It acquitted her of allegations tied to Deutsche Motors stock-price manipulation under the Capital Markets Act and claims involving free opinion polling provided by Myung Tae Kyun under the Political Funds Act. The sentence was far below what Special Counsel Min Joong Ki’s team sought at last month’s closing arguments: 15 years in prison, a 2 billion won fine and about 900 million won in forfeiture. After the ruling, the special counsel team said it would appeal, saying, “The court’s findings on co-perpetration, political-funds donations and solicitation that led to acquittals are difficult to accept in light of legal principles and common sense, and the sentencing for the guilty portion is also insufficient.” Kim’s lawyers also said they are reviewing whether to appeal, arguing the sentence is excessive. 2026-01-28 16:21:22

Kia's Q4, 2025 profit slides nearly 30% as U.S. tariffs bite despite record sales SEOUL, January 28 (AJP) - Kia Corp., South Korea’s second-largest automaker, saw its fourth-quarter and full-year 2025 operating profit fall by around 30 percent as higher U.S. tariffs dented the bottom line despite record-high sales volumes and revenue. In its earnings filing Tuesday, Kia disclosed consolidated operating profit for the October–December period at 1.84 trillion won ($1.3 billion), up 26 percent from the previous quarter but down 32.2 percent from a year earlier. Quarterly revenue reached 28.09 trillion won, slipping 2.1 percent quarter on quarter but rising 3.5 percent from the same period last year, marking the company’s best for a fourth quarter. The automaker’s operating margin narrowed to 6.6 percent in the quarter, while the full-year margin stood at around 8.0 percent. Profitability was squeezed by a sharp rise in costs. The cost-of-sales ratio climbed to 81.7 percent from 78.8 percent a year earlier, dragging the gross margin down to 18.3 percent from 21.2 percent. Selling and administrative expenses also increased, further weighing on earnings. For the full year, Kia posted operating profit of 9.08 trillion won, down 28.3 percent from 12.67 trillion won in 2024, even as annual revenue jumped 6.2 percent to a record 114.14 trillion won. Global vehicle sales reached an all-time high of 3.14 million units. Korean-made vehicles, which had previously enjoyed near-zero duties under a bilateral free trade agreement, were hit with a uniform 25-percent “reciprocal” tariff from spring last year under the Trump administration. Although a subsequent trade deal lowered the rate to 15 percent — in line with tariffs applied to European and Japanese vehicles and retroactive to November — Kia said inventories at its U.S. operations were subject to the 25-percent duty for about two months. Weaker sales volumes trimmed operating profit by an additional 13.2 billion won. These impacts were partially offset by favorable foreign-exchange effects from a weaker won, which lifted profit by about 42.4 billion won, as well as pricing adjustments, an improved model mix and cost-cutting efforts. Balance-sheet metrics improved despite softer earnings. Kia’s debt ratio fell 4.3 percentage points year on year to 61.8 percent, while net cash rose to 19.64 trillion won as borrowings declined. Equity increased by 5.35 trillion won to 61.19 trillion won. Return on equity, however, slipped to 12.8 percent, reflecting the earnings slowdown. Kia shares closed down 2.48 percent at 149,700 won. 2026-01-28 16:20:13

Special Prosecutor Says Kim Keon Hee Ruling Is Hard to Accept, Will Appeal Breaking: Special prosecutor says Kim Keon Hee first-trial ruling is hard to accept; will appeal* This article has been translated by AI. 2026-01-28 16:15:23

South Korea Secures Record 54,000 New-Build Rental Homes, Plans 44,000 Starts in Capital Area 정부가 지난해 역대 최대 규모의 신축매입약정을 체결하고 도심 주택공급에 속도를 낸다. The Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corp. (LH) said Tuesday they secured 54,000 homes through new-build purchase agreements last year, the largest total on record. The figure was up 128% from the previous year’s 41,955 homes and about six times the 9,253 recorded in 2023, the ministry said. About 48,000 of the homes were in the Seoul metropolitan area, including 15,000 in Seoul. Under the new-build purchase-lease program, LH buys privately built or planned homes after completion and supplies them as rental housing. Many are non-apartment units, including small apartment buildings and multi-family housing. Based on last year’s results, the ministry said it plans to start construction on more than 44,000 new-build purchase homes in the capital area this year, including 13,000 in Seoul. It said the plan is intended to keep on track with targets in the Sept. 7 housing supply expansion plan: 70,000 capital-area starts in 2026-2027 and a total of 140,000 by 2030. LH said it will recruit tenants this year for 11,000 purchase-lease homes in the capital area, including 3,000 in Seoul, and supply about 60% of them to young people and newlyweds. The ministry and LH said they will also strengthen quality control to provide higher-quality, tailored housing for newlyweds and young people. They also said they will conduct a full review of whether purchase prices under the program were appropriate, after President Lee Jae Myung last year criticized LH for buying newly built private homes at high prices for the purchase-lease program. The ministry said it will form an external expert-led review committee and complete the review by April. “Especially when the housing market is difficult, it is important for the public sector to send a clear supply signal backed by results,” Minister Kim said. “If last year was a year of preparation with record agreements, this year will be a year of execution through starts of more than 44,000 homes in the capital area and more than 13,000 in Seoul.” Cho Kyung-sook, LH’s acting president, said about 11,000 homes contracted in Seoul last year are in strong locations with proven infrastructure, including near transit hubs. She said LH will “take the lead in stabilizing the housing market” through strict quality control, phased starts and on-time supply.* This article has been translated by AI. 2026-01-28 16:15:00

Factory Fire in Siheung’s Geumi-dong Sends Up Thick Black Smoke A fire broke out in Geumi-dong in Siheung, Gyeonggi province. On Tuesday, the Siheung city government said in a disaster safety text alert, "A factory fire has occurred at 554-4, Geumi-dong, and a large amount of black smoke is being generated." It urged nearby drivers to detour and asked residents in the area to close their windows and take other safety precautions. * This article has been translated by AI. 2026-01-28 16:13:28

Samsung C&T Posts 29.6% Jump in Q4 Operating Profit to 822.2 Billion Won Samsung C&T said in a regulatory filing Tuesday that its fourth-quarter operating profit rose 29.6% from a year earlier to 822.2 billion won on a consolidated basis. Revenue increased 8.4% to 10.8324 trillion won. Net profit surged 137.6% to 1.5582 trillion won. For the full year, revenue totaled 40.7422 trillion won and operating profit was 3.2927 trillion won. Compared with the previous year, revenue fell 3.2% while operating profit rose 10.4%. Samsung C&T said it maintained solid results despite growing global uncertainty and shifts in the business environment, citing a diversified portfolio and competitiveness across its divisions. By business segment, the construction unit posted weaker results as large projects, including high-tech work, moved into completion stages. The trading unit lifted revenue by expanding sales despite the spread of protectionism, but operating profit edged down. The fashion unit saw a slight rise in revenue, but operating profit declined due to higher costs including marketing. The resort unit reported higher revenue on expanded food service and food-and-beverage distribution.* This article has been translated by AI. 2026-01-28 16:13:11

Hong Kong Signs Precious Metals Cooperation Deal With Shanghai Gold Exchange Hong Kong’s Financial Services and the Treasury Bureau said Jan. 26 that it signed a cooperation agreement on precious metals trading with mainland China’s Shanghai Gold Exchange at the Asian Financial Forum being held in Hong Kong. The agreement includes setting up a new company, the Hong Kong Precious Metals Central Clearing System, fully funded by the Hong Kong government. The Hong Kong Precious Metals Central Clearing System will be chaired by Financial Services and the Treasury Secretary Christopher Hui, with a Shanghai Gold Exchange representative serving as vice chair. A Hong Kong central clearing system specializing in gold trading, managed by the company, is expected to begin a pilot run within the year. The agreement also includes support to expand gold storage capacity at the Airport Authority Hong Kong and financial institutions. The goal is to increase capacity to more than 2,000 tons within three years. Hui said the Hong Kong government plans to submit a bill in the first half of this year to include precious metals among eligible investments for tax incentives for “single family offices,” including those set up for funds or a single wealthy family.* This article has been translated by AI. 2026-01-28 16:13:05

South Korea rejects Lotte Insurance turnaround plan, moves toward stricter corrective action South Korea’s financial regulators plan to step up prompt corrective action against Lotte Insurance to a management improvement demand after rejecting the insurer’s turnaround plan. The Financial Services Commission said it disapproved Lotte Insurance’s management improvement plan, submitted on Jan. 2, at a regular meeting on Tuesday. The FSC said the plan lacked specificity, feasibility and supporting grounds. After a prior-notice process, the company’s current management improvement recommendation is expected to be upgraded to a management improvement demand. Prompt corrective action has three levels: recommendation, demand and order. If a management improvement demand is imposed, regulators can require steps such as replacing executives, partially suspending insurance business, reducing staff and organization, limiting or disposing of risky assets, and restructuring subsidiaries. They can also restrict branch closures, mergers or openings, or require the company to draw up a sale plan. Measures that were previously only recommended — including raising capital, cutting business expenses, disposing of bad assets, restructuring staff and organization, limiting dividends — can also be required. After receiving a management improvement demand, Lotte Insurance must submit a revised plan within two months. If regulators also reject that plan, the action could be escalated to a management improvement order, the highest level. Industry observers said the rejected plan likely did not sufficiently address a capital increase sought by regulators. Lotte Insurance has said its ability to raise capital on its own is limited because any capital increase is decided by its largest shareholder, JKL Partners. If the corrective action is upgraded, Lotte Insurance may again pursue legal action. When it received a management improvement recommendation in November last year, it filed a lawsuit seeking to overturn the measure and also sought an injunction at the Seoul Administrative Court. The injunction request was denied. A financial regulator said authorities will “review necessary follow-up measures in accordance with laws and principles.”* This article has been translated by AI. 2026-01-28 16:12:43

Korea Sports Council Vows Zero Tolerance in Ski National Team Selection Probe The Korea Sports Council said it will take strict action under a zero-tolerance policy over allegations of match-fixing and unfairness in selecting national team athletes in skiing. The council said Tuesday that it is “actively cooperating” with an ongoing police investigation. It said that if authorities confirm match-fixing, improper interference in selections or conflicts of interest that undermined fairness, it will act “regardless of position, relationships or past practices,” applying a zero-tolerance standard. In the sports community, questions have been raised about whether an unsuitable person was involved with a Korea Ski Association committee during the selection process for the national team in snowboard cross. The council said it asked the Korea Ski Association last year to improve its system to ensure fair national team selections. It said it has prepared revisions to its “National Team Selection and Operations Regulations” to, in principle, exclude people with a stake in the outcome from the selection process. The proposed revisions are set to be reviewed and voted on at the council’s board meeting in February. The council said it revised its “Member Sport Organization Regulations” in November to establish a basis for its guidance and oversight of sport governing bodies. It said it is also checking for possible rules violations, management accountability and needed system improvements. The council said that since Yu took office, he has consistently emphasized that “fairness is not a choice but a core value of sports.” It said it will not tolerate any conduct that undermines fairness and principles, and will work to block room for privilege or cheating and restore trust in national team selections and overall competition operations. 2026-01-28 16:12:22