Seoul court backs Korea Zinc share buyback amid control battle

SEOUL, October 02 (AJP) - A Seoul court on Wednesday allowed Korea Zinc Inc. to continue acquiring its own shares to defend against what it calls a hostile takeover bid by its largest shareholder, Young Poong, and the private equity firm MBK Partners. Young Poong and MBK are seeking to secure management control of the world's largest zinc smelter by acquiring an additional 7 to 14.6 percent stake through a tender offer from Sept. 13 to Oct. 4. They filed an injunction with th

October 2, 2024

Busan film fest to open with Korean historical drama

SEOUL, October 2 (AJP) - The annual Busan International Film Festival is set to kick off with an outdoor red carpet event in the southern port city on Wednesday, featuring some 224 films from 63 countries. Netflix's Korean historical drama "Uprising" opens this year's festival, which marks its 29th year. The film, starring Gang Dong-won and Park Jeong-min, explores the complex relationship between two close friends from different social classes. The much-anticipate

October 2, 2024

Ohtani secures fifth Player of Month award, first in National League

SEOUL, October 02 (AJP) - Major League Baseball (MLB) superstar Shohei Ohtani has been named the National League's Player of the Month for September, marking his fifth such accolade and his first since joining the Los Angeles Dodgers. The team said on Monday that the 30-year-old Japanese player, who is not pitching this season due to elbow surgery recovery, achieved a historic milestone on Sept. 19 by becoming the first MLB player to record 50 home runs and 50 stolen bases in a

October 2, 2024

UAE denounces attack on embassy residence, Sudanese army blames RSF

SEOUL, October 2 (AJP) - The United Arab Emirates' foreign ministry announced on Monday that its ambassador's residence in Khartoum, Sudan, suffered significant damage. The UAE emphasized the need to protect diplomatic properties and embassy staff residences, in accordance with international treaties that govern diplomatic relations. The Sudanese army denied responsibility for the attack, blaming the paramilitary Rapid Support Forces (RSF), with whom they are currently engag

October 2, 2024

Israel launches ground operation against Hezbollah amid rising tensions

SEOUL, October 2 (AJP) - Israel has initiated a ground operation in southern Lebanon, which it describes as "limited, localized, and targeted" against Hezbollah. Lebanese civilians have been warned not to travel south of the Litani River, and residents in 25 villages have been advised to evacuate. The Israel Defense Forces (IDF) claim the operation targets Hezbollah's infrastructure, which they consider an immediate threat to northern Israel. An Israeli official stated

October 2, 2024

China honors foreign expats, pledges increased support

SEOUL, October 2 (AJP) - China recognized 100 foreign experts on Monday, with the 2024 Chinese Government Friendship Award for their significant contributions to the country's development. At a ceremony in Beijing, State Councilor Shen Yiqin presented the awards and committed to enhancing support and opportunities for international professionals working in China. Shen emphasized that the Chinese people deeply appreciate the foreign experts' notable role in advancing China

October 2, 2024

Xi Jinping calls for national growth on PRC anniversary

SEOUL, October 2 (AJP) - Chinese President Xi Jinping expressed confidence in the Chinese people's ability to achieve remarkable feats and contribute to global peace and development at a reception marking the 75th anniversary of the People's Republic of China early this week. Speaking at the Great Hall of the People in Beijing on Monday, Xi, who also heads the Communist Party of China and the Central Military Commission, addressed an audience of about 3,000 Chinese and inter

October 2, 2024

LG Chem develops new material to prevent battery fires

SEOUL, October 02 (AJP) - South Korea's leading chemical company LG Chem said Tuesday it has developed a new material that could significantly reduce the risk of fires in electric vehicle batteries. Its research team created a temperature-responsive safety-enhancing functional layer that acts like a fuse, cutting off electrical flow when temperatures rise abnormally. The ultra-thin layer, about 1 micrometer thick, is placed between the diodes and the current collector in the

October 2, 2024

India arrests cryptocurrency fraudsters linked to game app

SEOUL, October 02 (AJP) - The Enforcement Directorate (ED) of India has arrested cryptocurrency fraudsters associated with the game app Fiewin in collaboration with cryptocurrency exchange Binance, according to news reports. The arrested individuals lured users into online betting and gaming. Once the payment amounts accumulated, they froze the accounts, siphoning off about $47.6 million from victims through cryptocurrency wallet transfers to evade detection. During the investiga

October 2, 2024

India resumes non-basmati white rice exports amid rising domestic surplus

SEOUL, October 02 (AJP) - India has resumed exports of non-basmati white rice amid a significant rise in rice surplus. Basmati is a type of rice known for its low stickiness and long grains. On Saturday, the Indian government removed tariffs on non-basmati white rice exports and set a minimum export price of $490 per ton. This move is seen as part of the Indian government's efforts to ease rice export restrictions. On Friday, the government lowered the export tariff on parboi

October 2, 2024