Korea Zinc claims MBK Partners violated confidentiality agreement

SEOUL, December 16 (AJP) - Korea Zinc has filed a complaint to the Financial Supervisory Service (FSS) against private equity firm MBK Partners, alleging violations of a non-disclosure agreement (NDA) in a potential hostile takeover attempt. The complaint centers on accusations that MBK Partners misused confidential information from a 112-page consulting document about Korea Zinc's "Troika Drive" strategy and corporate value forecasts, which was provided during an inve

December 16, 2024

North Korean media covers Yoon's impeachment

SEOUL, December 16 (AJP) - North Korea's state media reported Monday on the impeachment of South Korean President Yoon Suk Yeol, two days after the National Assembly passed a motion to impeach him over his short-lived declaration of martial law earlier this month. The North first reported on South Korea's political turmoil on Dec. 11, about a week after Yoon's botched martial law gambit. Describing him as the "ringleader of the rebellion," the official state

December 16, 2024

OPINION: Trump wants China's help in making peace in Ukraine

SEOUL, December 16 (AJP) - U.S. president-elect Donald Trump has invited China's president Xi Jinping to his inauguration on Jan. 20 in a surprise move which appears to be part of a plan to involve Beijing in ceasefire negotiations in Ukraine. Just after his recent meeting with Ukrainian president Volodymyr Zelensky in Paris, Trump posted, "There should be an immediate ceasefire and negotiations should begin," and "China can help." That latter remark has sudd

December 16, 2024

Democratic Party leader proposes bipartisan body to stabilize country

SEOUL, December 15 (AJP) - Lee Jae-myung, leader of South Korea’s biggest Democratic Party, on Sunday proposed the creation of a bipartisan policy consultative body to stabilize the nation quickly following the impeachment of President Yoon Suk Yeol. Lee also announced a temporary pause on impeachment proceedings against Prime Minister Han Duck-soo, who became acting president automatically after Yoon's impeachment. Speaking at a press conference at the National Assem

December 15, 2024

Young Koreans lead vibrant, energetic new era of protests

Participants of a rally demanding the impeachment of President Yoon Suk Yeol display their protest items in Yeouido, Seoul, on Dec. 14, 2024. AJP Im Yoon-seo SEOUL, December 15 (AJP) - Singing and dancing with K-pop light sticks became one of the most captivating scenes at rallies against South Korean President Yoon Suk Yeol in Yeouido, western Seoul, where the National Assembly is located. The purpose of these rallies was reminiscent of the 2016 demonstrations that called for the impe

December 15, 2024

Bill proposed to halt salary, perks for Yoon Suk Yeol

SEOUL, December 15 (AJP) - An opposition lawmaker has introduced a bill to suspend salary payments and restrict privileges for public officials, including the president, whose duties are halted following impeachment. Rep. Park Yong-gap of the Democratic Party proposed amendments to the National Public Service Act and the Passport Act on Friday. The revisions would immediately suspend all salary payments to public officials once they are impeached by the National Assembly. The b

December 15, 2024

North Korea silent on Yoon's impeachment

SEOUL, December 15 (AJP) - North Korea has remained silent on the impeachment of South Korean President Yoon Suk Yeol, a striking contrast to its quick response to similar political upheavals in the past. As of Sunday morning, state-controlled media outlets, including the Korean Central News Agency and the Workers’ Party newspaper Rodong Sinmun, had made no mention of Yoon’s impeachment. This silence differs from Pyongyang’s reaction to the impeachment of form

December 15, 2024

Russian envoy expresses hope for improved ties following Yoon's impeachment

SEOUL, December 15 (AJP) - Russian Ambassador to Seoul Georgy Zinoviev said after South Korean President Yoon Suk Yeol was impeached on Saturday that the current political turmoil in South Korea could "rather contribute" to the relationship between the two countries. Following the impeachment, the Russian Embassy in Seoul shared the ambassador's message on its Facebook page. “I hope that the dramatic events in Korean domestic politics will ultimately not interf

December 15, 2024

Calls for immediate arrest of Yoon Suk Yeol growing louder

SEOUL, December 15 (AJP) - The impeachment of President Yoon Suk Yeol is expected to accelerate investigations into the December 3 martial law declaration, an event widely condemned by legal experts as unconstitutional and illegal at every stage. The prosecution’s special probe team, led by Park Se-hyun, has intensified efforts to reconstruct the full sequence of events surrounding the martial law. Investigators are focusing on how troops were deployed to the National Assemb

December 15, 2024

Acting President Han reassures US on alliance in call with Biden

SEOUL, December 15 (AJP) - Acting President Han Duck-soo spoke by phone with President Biden on Sunday, pledging to uphold and strengthen the South Korea-U.S. alliance in the wake of President Yoon Suk Yeol’s impeachment, Han’s office said. The conversation came a day after Yoon was impeached by the National Assembly over his controversial imposition of martial law on December 3. Han, who has assumed presidential duties, assured Biden of continuity in South Korea&rs

December 15, 2024