Taiwan Wire Service

Rayong, The DOE continues to monitor the air quality around the warehouse storing hazardous waste and hazardous chemicals. Found sulfur dioxide Acrylonitrile and hydrogen cyanide at a level that will affect the respiratory system Irritating to eyes and skin. Meanwhile, the Ministry of Industry filed a complaint against Winprocess Company Limited at Ban Khai Police Station. Consider sending the matter to DSI as well.

The Pollution Control Department (PCD) reported on the situation of suppressing the fire at the factory warehouse of Winprocess Co., Ltd., Rayong Province, stating that at Building 5, fuels of various types of chemicals and solvents were used. It’s all been burned. Only paper fuel remains. plastic, which will create smoke for another 2 days

From the results of air quality measurement yesterday (24 April 2024) outside the factory and the community area on the windward side. The distance from the factory to the north is approximately 500 meters to 5 kilometers. 8 points detected sulfur dioxide (Su
lfur Dioxide), acrylonitrile. (Acrylonitrile) and hydrogen cyanide (Hydrogen cyanide) are at levels that will affect the respiratory system. Irritating to eyes and skin. In addition, unextinguished fires cause smoke and soot contaminated with acid fumes. Causes skin irritation, which the DandC will continuously monitor.

The information has been communicated through the command center of Rayong Province to warn the public. They asked to remain at the evacuation center until the fire is over and no chemical vapors have been detected. It will also work with the Department of Industrial Works to check for chemicals in the atmosphere using mobile vehicles along with a fast moving inspection unit which the public can report to check at any point where people have concerns.

The Ministry of Industry sent representatives to report legal action against Winprocess Company Limited at Ban Khai Police Station because of the said company. has been ordered closed But they also store dangerous chemicals in the factory area.
When the fire broke out, it spread widely. From now on, we will further examine various related laws and will consider sending the matter to the Department of Special Investigation (DSI).

As Rayong Province has issued an announcement for the areas of Village No. 1-11, Nong Bua Subdistrict and Village No. 1-12, Bang But Subdistrict, Ban Khai District. Rayong Province is a disaster affected area. will make government agencies, agencies, local government organizations and the private sector involved can take action according to their authority in the disaster area according to the Disaster Prevention and Mitigation Act of 2007, the National Disaster Prevention Plan. Provincial Disaster Prevention and Mitigation Plan and other related plans, as well as related laws, regulations, orders, announcements, and Cabinet resolutions.

Those with symptoms have been sent for treatment to local hospitals and bedridden patients have been moved to appropriate places. As for fire officials Provincial public health officials w
ill inspect the body to prevent inhalation or exposure to chemicals during the performance of duties. If there are symptoms, further treatment will be given.

Source: Thai News Agency

Overdue wages for migrant workers averaged 6.63 million won (US$4,825), a survey conducted by the state human rights watchdog showed Thursday.

The survey, which was conducted on 379 migrant workers who are currently working in the country or have worked here for over a year, also showed the average number of times wages were overdue was 1.09, according to the National Human Rights Commission of Korea.

By amount, 34.4 percent of the respondents said they were due between 1 million won and 3 million won, followed by 5 million won to 10 million won at 28.8 percent, 3 million won to 5 million won at 17 percent and more than 50 million won at 1.2 percent.

Around 32 percent said they received none of their overdue wages even though they asked for them, while 30.9 percent said they received the entire amount due after taking action and 34.8 percent received part of it.

Nearly 80 percent of the respondents said they filed complaints with the labor or oceans ministries or other relevant agencies in order to receiv
e their overdue wages but experienced difficulty due to language barriers and a lack of understanding of local labor laws.

The commission said solutions to the problem of overdue wages include increasing the number of help centers for migrant workers, punishment for employers who delay wage payments and efforts to improve perceptions of migrant workers.

Source: Yonhap News Agency

Deputy Minister for Trade Yang Byeong-nae held a meeting with Dutch Vice Infrastructure Minister Kees van der Burg in Seoul and they discussed ways to expand cooperation in the fields of mobility, batteries and supply chains, officials said Thursday.

The two officials also pledged to broaden their collaboration to cover electric and hydrogen-powered automobiles, as well as battery technology, according to the Ministry of Trade, Industry and Energy.

Yang told the meeting that the two nations could help stabilize global supply chains as they play a key role in the semiconductor industry.

In addition, Yang asked his Dutch counterpart to closely monitor EU trade regulations, including the Critical Raw Materials Act, to prevent excessive administrative burdens on companies outside the bloc.

Source: Yonhap News Agency

A stronger partnership between South Korea and African countries is “no longer a choice but a necessity,” South Korean envoys stationed in Africa said Thursday, ahead of the upcoming Korea-Africa Summit.

“In terms of diplomacy, (Africa) is a good place to realize our global pivotal state diplomacy, with 55 members in the African Union,” one of the ambassadors told reporters on condition of anonymity.

The envoy stressed that the conditions for South Korea’s entry into the African market are “in place,” given the widespread awareness of Korean technology and the strong desire toward the success story of Korea.

“Overall, (cooperation with) Africa is no longer a choice but a necessity,” he said.

Another envoy, also speaking on condition of anonymity, stressed the need to differentiate South Korea’s approach to cooperation with Africa from those of China and Japan.

He highlighted Seoul’s unique position as a country that has the experience of being colonized and a country that has advanced from an underdevelo
ped country to a developed country.

“We’re the only country to have experienced all levels of development,” he said.

South Korea is set to host the inaugural summit with African nations in Seoul on June 4 and 5.

Source: Yonhap News Agency

South Korea’s economy grew at the fastest pace in over two years in the first quarter of the year on the back of a continued recovery in exports and a rise in construction investment, central bank data showed Thursday.

The country’s real gross domestic product — a key measure of economic growth — increased at a higher-than-expected rate of 1.3 percent on-quarter in the January-March period, according to preliminary data from the Bank of Korea (BOK).

The first-quarter expansion beat the market estimate of 0.6 percent and the 0.6 percent on-quarter expansion in the September-December period.

The reading marks the highest since the fourth quarter in 2021, when the economy expanded 1.4 percent.

On a yearly basis, South Korea’s economy advanced 3.4 percent in the first quarter, higher than the 2.2 percent growth for the last quarter of 2023.

Private spending logged a 0.8 percent rise in the January-March period, compared with a 0.2 percent advance the previous quarter.

The country’s exports climbed 0.9 per
cent in the first quarter, slowing from the previous quarter’s 3.5 percent gain, while imports declined 0.7 percent from a 1.4 percent increase the previous quarter.

Government spending gained 0.7 percent, and construction investment went up 2.7 percent in the first quarter, a shift from the previous quarter’s 4.5 percent dip, according to the data.

“The first-quarter expansion was higher than our estimates in February, but it is hard to say that domestic demand will enter a full-fledged recovery,” a BOK official said, adding that the central bank will unveil an adjusted economic growth estimate next month.

The better-than-expected growth came as the central bank is delaying its easing policy amid high inflation.

Earlier this month, the central bank held its key interest rate steady at 3.5 percent for the 10th straight time as it weighs a slower-than-expected moderation in inflation.

The rate freezes came after the BOK delivered seven consecutive rate hikes from April 2022 to January.

South Korea’s econ
omic growth slowed to the lowest in three years last year due to a slump in exports amid tightening monetary policies around the globe.

The economy expanded 1.4 percent last year, slowing from a 2.6 percent advance in 2022 and 4.3 percent growth in 2021.

The 2023 expansion marks the lowest since a 0.7 percent contraction in 2020 during the coronavirus pandemic.

For the year, the bank expects the economy to rebound slightly, at around 2 percent.

Source: Yonhap News Agency

South Korea’s largest K-pop company, Hybe, said Thursday it will file a complaint against executives of its sublabel ADOR, including CEO Min Hee-jin, on charges of breach of trust.

The move comes amid a widening conflict between the two sides over an alleged attempt by Min and others to take over control of the company that manages popular girl group NewJeans. Min has denied the allegations and countered by accusing Hybe of copying NewJeans’ main concept and choreography for a rookie girl group.

Hybe said it has secured evidence supporting its claim that the management plotted to seize control under Min’s initiative since it began conducting an audit of the label Monday.

The targets of the audit were found to have discussed ways to break away from the parent company taking NewJeans with them after making the sublabel “an empty shell” or to terminate contracts with NewJeans, Hybe said.

It added one of them submitted a computer file containing a plan for the control takeover and records of contacts with out
side investors while admitting to having written a document outlining a plan to pressure Hybe.

Min was also found in in-person interviews with officials and a transcript of her conversations with other members of the management to have instructed them to come up with measures to press the parent company to sell its stakes in her company, Hybe said.

Following the instruction, various ways such as terminating contracts with artists before their expirations and nullifying a contract between Min and Hybe were discussed, it said.

Also allegedly included in the transcript were action plans such as “preparing for a war of public opinion in May” and “making ADOR an empty shell and taking out” its artists.

Hybe secured a statement from the officials audited that the expression in the transcript that “we’ll ultimately leave Hybe” was based on what Min said.

“Based on these materials, we’re going to lodge a complaint against those involved on breach-of-trust and other charges,” the company said.

It also released t
o the media an image file of a messenger conversation allegedly discussing the action plans, exchanged early this month between Min and her deputy whose identity was not disclosed.

Addressing concerns among NewJeans’ fans that the ongoing conflict may disrupt the group’s plans for new releases, the company pledged its full support for the psychological and emotional well-being of the group members and their successful return.

It also plans to soon meet the members’ legal representative and discuss ways to protect them.

Later Thursday, Min once again strongly refuted the allegations, saying, “I have neither a plan nor an intention to take management control, nor have I implemented any such plans.”

“I’m wondering why they condemn me by inflating my private conversations into something serious,” she said during a press conference. “It’s not me who betrayed Hybe, but it’s Hybe that betrayed me. This is a frame intended to put me down after sucking me dry as much as they want.”

She also denied the breach of t
rust charges against her.

“This cannot be considered a breach of trust. The only wrongdoing on my part was that I did my job well,” she said.

In the emotional press conference that lasted for two hours, she also claimed NewJeans was disadvantaged in promotions during Le Sserafim’s debut under Source Music, also a subsidiary label of Hybe.

“Parents of NewJeans’ members have many complaints, in particular,” she pointed out.

Source: Yonhap News Agency

South Korea unveiled a plan Thursday to detect illegal stock short selling via a centralized monitoring system after it banned such trades in November last year.

Under the plan, the Korea Exchange, the country’s bourse operator, will set up a monitoring system to detect illegal trades that short stocks without first borrowing them, known as naked short selling.

The centralized monitoring system will collect short-selling data and stock trading balances from 21 foreign and 78 local institutions, according to the Financial Supervisory Service, the country’s financial watchdog.

The set-up of the monitoring system will take 12 months to be completed, the watchdog said, as the stock short selling ban, to be effective by June this year, may be extended again.

Early this year, President Yoon Suk Yeol said the stock short selling ban will only be lifted when an electronic system that can completely remove the side effects is firmly established.

Earlier, financial authorities had imposed a combined fine of 26.5 b
illion won (US$19.8 million) on two foreign investment banks — BNP Paribas and HSBC — late last month over alleged naked short selling between 2021 and 2022.

Source: Yonhap News Agency

The presidential office on Thursday evaluated the economic gain estimate for the first quarter as a “surprise,” hinting at revising up the government’s growth forecast for this year from 2.2 percent.

According to preliminary data released by the Bank of Korea earlier in the day, the country’s real gross domestic product — a key measure of economic growth — for the January-March period expanded at a higher-than-expected rate of 1.3 percent on-quarter. On a yearly basis, the economy advanced 3.4 percent in the cited period.

“This marks the highest growth in four years and six months, excluding the COVID-19 period of 2020-2021,” Sung Tae-yoon, director of national policy at the presidential office, said during a press briefing.

Sung further emphasized the significance of the growth, noting that it was not government-led but driven by the private sector, alongside rebounds in spending, construction and investment.

Construction investment, for instance, increased by 2.7 percent in the first quarter, a shift
from the previous quarter’s 4.5 percent dip, the data showed.

“Given the ongoing improvement in exports and the gradual expansion of domestic consumption recovery, the growth momentum is forecast to continue to some extent,” Sung said.

Furthermore, Sung hinted at moving up the 2024 growth outlook of 2.2 percent for 2024.

“Domestic and international institutions such as global investment banks are also revising the growth forecasts for our economy this year,” he said.

Source: Yonhap News Agency