Here’s a summary of top news stories from Yonhap News Agency on Monday.
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■ Lee Jae Myung Denies Opposition’s Housing Supply Plan Criticism
SEOUL — President Lee Jae Myung on Monday refuted criticism by the main opposition party regarding the government’s housing supply strategy aimed at stabilizing the property market. He addressed concerns raised by Choi Bo-yun of the People Power Party, who likened the plan to “rationing of real estate.” The government maintains the plan is a necessary solution utilizing available land.
President Lee Jae Myung (Yonhap)
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■ (LEAD) ‘Golden’ from ‘KPop Demon Hunters’ Wins Grammy Award
SEOUL — “Golden,” the soundtrack song from Netflix’s popular animated series “KPop Demon Hunters,” has won Best Song Written for Visual Media at the 68th Grammy Awards. This marks a groundbreaking achievement for the K-pop genre, signifying its growing influence on the global stage.
The prestigious award was presented during the premiere ceremony held at the Crypto.com Arena in Los Angeles on Sunday (U.S. time). While South Korean recording engineer Hwang Byeong-joon and Korean American artist Yungin have previously won Grammys, “Golden” is the first win for K-pop producers and songwriters in this category.
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■ Heavy Snowfall Disrupts Morning Commute Across South Korea
SEOUL — South Korea experienced heavy snowfall overnight, causing disruptions to the morning commute. The Korea Meteorological Administration (KMA) forecasts continued snowfall in eastern and southern regions of the country.
A heavy snow advisory for Seoul was lifted at 4 a.m., but city officials deployed snow removal trucks to spread de-icing agents to minimize inconvenience for commuters. Residents are urged to exercise caution while traveling.
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■ Special Counsel Investigates Coupang Affiliate CEO over Severance Pay Dispute
SEOUL — A special counsel team is questioning the CEO of a Coupang Corp. affiliate concerning allegations of unpaid severance pay to company employees. The investigation is focusing on potential violations related to labor laws and employee compensation.
Chung Jong-chul, CEO of Coupang Fulfillment Services (CFS), a logistics subsidiary of Coupang, appeared at the office of special counsel Ann Gweon-seob for questioning regarding the severance pay dispute.
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■ Seoul Stocks Plummet on Risk-Averse Sentiment
SEOUL — South Korean stocks experienced a significant decline late Monday morning, driven by investor sell-offs of tech heavyweights and growing risk aversion in the market. Market analysts cite increasing global economic uncertainty as a key factor.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 181.36 points, or 3.47 percent, to 5,043 as of 11:20 a.m.
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■ (Olympics) South Korean Speed Skaters Aim for Gold at Milan-Cortina Games
By Yoo Jee-ho
MILAN, Italy — South Korea’s speed skating team is determined to reclaim its gold medal-winning form at the upcoming Milan-Cortina Winter Olympics, after their streak ended at the Beijing 2022 Games.
While two silver and two bronze medals are a respectable achievement, the team is focused on returning to the top of the podium. They face stiff competition but are committed to showcasing their skills and bringing home gold for South Korea. The competition is fierce, with the Netherlands, Canada, and Japan all strong contenders.
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