LG Group Chairman Koo Kwang-mo to Meet Nvidia CEO Jensen Huang Next Week
Koo Kwang-mo, chairman of LG Group, is set to visit Nvidia's headquarters in Silicon Valley, California, next week to meet with CEO Jensen Huang. This meeting comes two months after their last encounter on June 8 in Seoul.According to industry sources, Koo's visit to Silicon Valley marks his first trip there in four months since April.
The two executives previously met on June 5 at LG Group's headquarters in Yeouido, Seoul, where they held a private discussion for about an hour. They expressed intentions to expand cooperation in various fields, including robotics, artificial intelligence (AI), and autonomous driving.
After the meeting, Koo stated, "We didn't have enough time to discuss details today, but we talked about inviting him to California next time. I plan to discuss more collaboration when I go there."
Blue House Holds Emergency Security Meeting After North Korea's Missile Launch
The National Security Office of the Blue House convened an emergency security situation assessment meeting on August 6 after North Korea launched a short-range ballistic missile into the East Sea from the Wonsan area.During the meeting, attended by the Ministry of National Defense and the Joint Chiefs of Staff, the National Security Office directed military and relevant agencies to maintain an immediate response posture. They analyzed and evaluated the impact of North Korea's launch on national security and reviewed necessary measures, including the potential for further provocations.
In a press release, the Blue House stated, "The National Security Office held an emergency security situation assessment meeting with the Ministry of National Defense and other relevant agencies following North Korea's missile launch into the East Sea from the Wonsan area."
The meeting reportedly shared information on the missile launch situation and military readiness, while also exploring coordination measures among agencies to respond to North Korea's future actions. However, the National Security Office did not disclose the specific list of attendees or details of the discussed measures.
Police Conduct 11-Hour Search of Korea Football Association Over Hong Myung-bo Appointment
Police have completed an 11-hour search of the Korea Football Association (KFA) as part of an investigation into allegations surrounding the appointment of former national team coach Hong Myung-bo.The Seoul Metropolitan Police Agency's Financial Crime Investigation Unit concluded the search around 8:20 PM on August 6, having begun the operation at approximately 9 AM. This marks the first time the KFA has been subjected to a search since its establishment.
The police confirmed that they secured internal documents from the KFA during the search. The search warrant cited allegations of obstruction of business, among other charges. The police plan to review the materials obtained to determine if there was any improper interference in the coaching appointment process.
Seoul Mayor Oh Se-hoon Appeals Conviction Over Alleged Polling Payment Scheme
The appeal hearing for Seoul Mayor Oh Se-hoon, who was convicted in the first trial for allegedly having polling costs covered by a supporter, has been scheduled for August 21. He was sentenced to lose his mayoral position in the first trial.According to legal sources on August 6, the Seoul High Court's Criminal Division 7, led by Judge Koo Hoe-geun, will hold the first hearing for Oh's appeal at 2 PM on that date. Businessman Kim Han-jeong and former Seoul Deputy Mayor for Political Affairs Kang Cheol-won, who face similar charges, will also appear in court on the same day.
Oh was indicted last December for allegedly receiving polling results from political broker Myung-tae Kyun and having Kim cover the costs of 33 million won. The first trial court, the Seoul Central District Court's Criminal Division 22, imposed a fine of 10 million won and ordered the forfeiture of 21 million won on Oh on July 22. Kang received a fine of 3 million won, while Kim was fined 5 million won.
The first trial found that Oh had commissioned five of the ten polling instances listed in the indictment (three of which were not disclosed and two were public) and that Kim had covered the costs of 21 million won. The court determined that it could not definitively conclude that Oh had commissioned or that Kim had covered the costs for the remaining five instances.
Industry Minister Kim Jeong-kwan Opposes Profit-Based Bonuses, Seeks Shareholder Approval
On August 6, Industry Minister Kim Jeong-kwan expressed his opposition to incentive structures that base bonuses on operating profit. He announced plans to amend commercial and capital market laws to require shareholder approval for substantial bonuses.Speaking at a forum held at the Press Center in Seoul, Kim highlighted that shareholders and investors are often excluded from the process of distributing a portion of operating profit to employees. He stated, "The owners of the company are the shareholders, and the investors bear the risks. However, in the bonus debate, shareholders and investors are often left out."
He added, "If companies ignore the opinions of shareholders and investors, who would want to invest or become shareholders? Ultimately, the consequences will fall on management and employees."
* This article has been translated by AI.
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