Stories from South Korea

A preliminary injunction was filed with the Suwon District Court on April 16. The filing argues that safety protection facilities on the fourth floor must remain operational.

A major institutional strategy has overtaken BlackRock in terms of total Bitcoin holdings. The strategy acquired 3.7 trillion won worth of Bitcoin in a single week.

The South Korean government has implemented a total ban on naphtha exports to stabilize domestic supply. Previously, 11% of domestic naphtha production was exported. The move follows concerns that industrial production could halt due to shortages of plastics, chemical supplies, and medical items like syringes. The government has secured 2.73 million barrels of crude oil and 2.1 million tons of naphtha to mitigate the impact. Officials are also planning to support companies by subsidizing the price difference for naphtha imports through a supplementary budget. The naphtha supply represents one month of volume, while the crude oil covers more than three months. The government is considering expanding a ban on the hoarding of seven basic petroleum products, including ethylene and propylene produced in Patha.

The ruling was reported by YTN Radio in Seoul.

A defendant received a 35-year prison sentence after prosecutors had requested 45 years. Defense attorney Anthony Malego stated the sentence was a blow to his clients despite the reduction from the initial request.

Incheon Mayor Yoo Jeong-bok, representing the People Power Party, held a campaign kickoff event at the plaza in front of Incheon City Hall. Yoo presented administrative continuity and experience as his core competitive advantages for his reelection bid.

Democratic Party Seoul mayoral candidate Jung Won-ho announced core campaign pledges ahead of the June 3 local elections. The announcement comes as political parties prepare for intense competition to secure victories in the Seoul metropolitan area, including Gyeonggi and Incheon. The candidate's platform follows internal party conflicts and discussions regarding project feasibility. Jang Wi-in's candidate Jeong Won-ho aims to reduce the current 15-year urban redevelopment period to under 10 years. Meanwhile, People Power Party candidate Oh Se-hoon visited the Seoul 9988 Health Center to promote health as his primary campaign pledge. Democratic Party candidate Jung Won-woo pledged to supply 80,000 housing units annually during his appearance on YTN. Jung attributed the surge in monthly and quarterly rent prices to candidate Oh Se-hoon.

The tire industry is considering price adjustments as production costs rise amid a global economic downturn. Industry observers suggest that proactive government measures are needed to ensure supply chain stability. The report was delivered by YTN's Oh Seung-hoon.

Police in Samcheok arrested two men in their 30s on charges of special larceny. The suspects, former insurance planners, stole 416 metal bridge nameplates across 22 cities and counties nationwide. The stolen copper plates weighed approximately 1.9 tons.

Coupang has rejected this designation, stating it does not meet the required criteria. The final candidate announcement related to the ongoing regulatory process is expected by May 2.