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Min sues Hybe top executives

SEOUL (ANN/THE KOREA HERALD) – The ongoing feud between Hybe and Ador CEO Min Hee-jin has intensified, as Min filed a lawsuit on Wednesday against Hybe’s CEO Park Ji-won and four other top executives for obstruction of business, unauthorised access to electronic records, and defamation.

The lawsuit also targets Outside Director Lim Soo-hyon, Chief Legal Officer Jung Jin-soo, Chief Financial Officer Lee Kyung-jun, and Chief Communications Officer Park Tae-hee.

Min alleges that these Hybe officers have illegally accessed private messenger conversations, leaked personal information without consent, and manipulated the content to suit their purposes. This legal action follows Source Music’s announcement of their intention to sue Min for allegedly spreading false information about the launch of the K-pop girl group NewJeans.

On Tuesday, Source Music addressed the issue on social media platform X, stating, “Min Hee-jin’s claim that Source Music copied her girl group launching strategy is false.” The label clarified that the strategy approved by Hybe Chairman Bang Si-hyuk in May 2020 was for a new girl group under Min’s label, Ador, and not for the so-called “N team,” a project girl group being trained by Source Music.

Source Music accused Min of distorting the truth to suggest that Chairman Bang instructed her to apply her strategy to the N team. They emphasised that Min’s strategy was never intended for the N team.

This conflict escalated after Min refuted allegations, reported by local entertainment media outlet Dispatch, that she had “stolen” trainees from Source Music who later formed NewJeans. Dispatch reported that Min had taken Minji, Hanni, Danielle, and Haerin from Source Music, where they were training as part of the N team. They also claimed Min delayed the trainees’ debut to expand her role and responsibilities.

In a statement, Min’s lawyers countered these allegations, asserting that Chairman Bang had instructed Min to implement her launch strategy at her own label, Ador, as it was difficult to proceed under Source Music’s infrastructure. Min also contended that she officially complained in August 2020 about Source Music’s new girl group project, which she claimed had copied her May 2020 launch strategy. She added that Source Music admitted to the copying.

Earlier this month, Source Music filed a KRW500 million (GBP361,000) lawsuit against Min, citing defamation and obstruction of business due to her April press conference, which allegedly caused damages to the girl group Le Sserafim.

Both Min and Source Music have stated they will release additional documents to clarify the facts if necessary.

NewJeans. PHOTO: ANN/THE KOREA HERALD SOURCE

Tanker carrying 1.4 million litres of oil capsizes in Manila Bay

MANILA (AFP) A Philippine-flagged tanker carrying 1.4 million litres of industrial fuel oil capsized and sank off Manila on Thursday, authorities said, as they sought to contain a spill stretching several kilometres.

The MT Terra Nova had been heading for the central city of Iloilo when it sank in Manila Bay, nearly seven kilometres (4.3 miles) off Limay municipality in Bataan province, near the capital, in the early hours.

Strong winds and high waves were hampering response efforts, Transport Secretary Jaime Bautista told a briefing.

“We were able to rescue 16 out of 17 crew, one is missing,” Bautista said.

Four of the crew were receiving medical treatment.

For illustration purposes only. PHOTO: UNSPLASH

A search and rescue operation was under way for the missing crew member, the Philippine Coast Guard said.

The MT Terra Nova “capsized and eventually submerged”, the coast guard said in a report.

The coast guard said it was investigating “if there was an existing weather disturbance in the vicinity waters when the maritime incident occurred.”

An oil slick stretching about 3.7 kilometres was being carried by a “strong current” in an easterly, north-easterly direction.

Marine environmental protection personnel have been mobilised to help contain it.

Coast guard Commandant Admiral Ronnie Gavan said he has ordered an investigation into the incident.

The vessel’s sinking happened as heavy rains fuelled by Typhoon Gaemi and the seasonal monsoon lashed Manila and surrounding regions in recent days.

In February 2023, a fuel tanker carrying 800,000 litres of industrial fuel oil sank in waters off the central island of Mindoro.

Diesel fuel and thick oil from that vessel contaminated the waters and beaches along the coast of Oriental Mindoro province, devastating the fishing and tourism industries.

The oil dispersed over hundreds of kilometres of waters famed for having some of the most diverse marine life in the world.

Thousands of fishermen were ordered to stay on shore until they could fish safely, and swimming was also banned.

Japanese boxer disowns victory

MANILA (ANN/PHILIPPINE DAILY INQUIRER) – In a display of remarkable sportsmanship, Japanese boxer Keita Kurihara renounced his victory over Filipino fighter Renan Portes last Monday at Korakuen Hall in Tokyo.

What began as a standard eight-round boxing match took an unexpected turn when an emotional Kurihara addressed the audience, declaring, “I didn’t win this fight,” shortly after his split decision win was announced.

Two Japanese judges scored the bout 78-74 in favour of Kurihara, while the third judge had it 78-74 for Portes.

A viral Facebook video shows a regretful Kurihara apologising to Portes in the Bukidnon native’s locker room.

“I was declared the winner, but I believe I lost. It’s shameful that I was declared the winner. I apologise,” said Kurihara through a translator.

A win would’ve been a much needed one for Portes, who instead slumped to his 17th loss against 13 wins.

Kurihara, meanwhile, hiked his record to 19-8-1, 16KOs.

Japanese boxer Keita Kurihara kneels beside Filipino bet Renan Portes after their boxing fight in Tokyo. PHOTO: ANN/PHILIPPINE DAILY INQUIRER

Prior to facing Portes, Kurihara beat another Filipino in Froilan Saludar in a rematch last January in Cebu in a fight where the Japanese knocked out the former world title contender in the eighth round.

It was a heartbreaking loss for the 35-year-old Portes, who had promised his daughter that he would go back home a winner.

“I promised my child that I won’t return home a loser,” Portes said, as seen in a video posted by Edmond Lapitan Dellosa on Facebook. “In the sixth round, I felt groggy but [I fought back] because I promised my child I would bring home the victory.”

“He said you won,” a translator told Portes while Kurihara, still awash in grief, knelt beside the Filipino muttering apologies. “He believes you won and that’s what you should tell your child. He’s going to fight to let the record reflect that you won.”

Electric buses for Japan’s Yakushima Island

SEOUL (ANN/THE KOREA HERALD) – Japan’s commercial vehicle market will see a footprint expansion by Hyundai Motor Company in the provision of electric buses to the Iwasaki Group for use on UNESCO World Natural Heritage Site, Yakushima Island.

Hyundai signed a letter of intent with Iwasaki Group, a leading transportation and tourism service provider in Kagoshima Prefecture, at the Imperial Hotel in Tokyo last Thursday. 

This agreement paves the way for Hyundai to deliver its “Elec City Town” zero-emission electric buses, with the first bus scheduled for delivery in the fourth quarter of this year and a total of five buses by the first quarter of next year.

“Hyundai’s electric buses stand out for their quality and dependability, which is why we picked them over Chinese alternatives. We’re looking forward to transitioning our entire fleet on Yakushima to electric,” said Yoshitaro Iwasaki, CEO of the Iwasaki Group during the signing ceremony.

The Elec City Town will be used as a fixed-route bus on Yakushima, an island celebrated for its rich biodiversity, ancient cedar forests and eco-tourism appeal. Known as the “Alps by the Sea,” Yakushima’s mountainous terrain and unique climate make it an ideal setting for showcasing Hyundai’s electric bus capabilities.

The Elec City Town is a nine-metre, low-floor electric bus equipped with a 145 kilowatts-hour battery and a high-efficiency motor, capable of a peak output of 160 kilowatts. It boasts a range of over 220 kilometres on a single charge and uses the CHAdeMO fast-charging system, tailored to Japan’s infrastructure, allowing charging up to 180 kW.

Earlier this year, the Elec City Town completed rigorous tests on Yakushima’s terrains, receiving positive feedback from the Iwasaki Group and local operators.

Hyundai will implement an inventory management system to ensure over 95 percent of parts are available within two days, minimising maintenance-related downtime. In collaboration with local insurers, the Korean carmaker plans to offer top-tier after-sales service, including partial coverage for frequently damaged parts.

“Launching our first electric bus in Japan on Yakushima, a UNESCO World Heritage Site, is a proud moment for us. It reinforces our leadership in electric vehicles and aligns with Japan’s efforts to cut carbon emissions,” said a Hyundai Motor official.

Hyundai Motor Company’s “Elec City Town” electric bus, designed for zero-emission transport, will soon service routes on Yakushima Island, Japan, as part of an expansion in the region’s commercial vehicle market. PHOTO: ANN/THE KOREA HERALD SOURCE

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Comic-Con 2024: What to expect

SAN DIEGO (AP) – Comic-Con International, the comic book and pop culture extravaganza, is kicking off in San Diego. The convention, which draws over 130,000 fans annually, opens for a preview night Wednesday and runs through Sunday.

With the COVID-19 pandemic and the Hollywood strikes disrupting past years of the convention either through complete cancellation or modifications to the way they ran, this year will be the most traditional Comic-Con since 2019.

Actors, filmmakers, comic book authors and illustrators and fans are making their way to the San Diego Convention Center and the several official (and unofficial) event locations for a weekend brimming with programming.

Here’s what to expect at the sprawling convention.

Marvel mania

With the highly anticipated release of ” Deadpool & Wolverine,” Marvel is set to be a strong presence, from the costumes fans don to the panels that draw the longest lines.

The Ryan Reynolds and Hugh Jackman-led feature is the first and only Disney-backed Marvel movie of the year. The panel promoting the film and celebrating its release Thursday is expected to draw thousands to the convention’s famed Hall H.

Susie Cramer of Oklahoma City, Okla., dressed as Antiope from “Wonder Woman,” left, and Morgan Duhon of New Orleans, dressed as Mera from “Aquaman,” attend Comic-Con International in San Diego on July 20, 2023. The comic book and pop culture extravaganza, which draws over 130,000 fans annually, opens for a preview night Wednesday and runs from Thursday through Sunday. PHOTO: AP

Marvel is also expected to announce news teasing their upcoming titles in their “Phase 5” cinematic universe plan and beyond, with Marvel president Kevin Feige as the only confirmed speaker on their Saturday panel.

He will be joined by special guests, who may include stars of upcoming Marvel titles like “Captain America: Brave New World,” “Thunderbolts(asterisk)” and ” The Fantastic Four.”

Stars assemble

After their absence from the convention last year due to the actors strike, stars are returning to the convention in full force to showcase upcoming series and movies. While the lineup for Marvel’s panel will likely remain under wraps until the event starts, several A-listers are confirmed to attend the convention.

Chris Hemsworth, Keegan-Michael Key and Brian Tyree Henry will be speaking on a panel for “Transformers One,” the upcoming animated movie with a star-studded cast that also includes Scarlett Johansson, Jon Hamm, Laurence Fishburne and Steve Buscemi.

Signage appears at Comic-Con International on Thursday, July 20, 2023, in San Diego. The comic book and pop culture extravaganza, which draws over 130,000 fans annually, opens for a preview night Wednesday and runs from Thursday through Sunday. PHOTO: AP

The cast of the anticipated August release “Alien: Romulus,” Cailee Spaeny, Isabela Merced and David Jonsson, will speak on a panel with director and writer Fede Alvarez.

Christian Slater, Lupita Nyong’o and the cast members of “The Boys” and “Abbott Elementary” will also make appearances. And of course, Reynolds and Jackman, who have kept busy promoting “Deadpool & Wolverine,” will be there, too.

Beyond the convention

Beyond the convention hall, San Diego will be buzzing with activities, brand activations, parties and events celebrating all things pop culture. Pop and R&B artist Jason Derulo, Japanese singer LiSA and the San Diego Symphony Orchestra are each expected to perform at parties during the weekend.

While several parties and events are invitation-only — including the notable Entertainment Weekly party that draws huge crowds and several celebrities — visitors can keep an eye out for events and pop-ups throughout the city’s Gaslamp Quarter. The area surrounding the convention center embraces the spirit of the weekend, with local businesses, restaurants and bars typically rolling out Comic-Con-specific products or menus.

Unique merchandise

Part of the draw for many Comic-Con attendees is the plethora of merchandise available to purchase on the exhibit floor. Booths selling collectibles from Marvel, DC, Star Wars, Lego, Hasbro, Sony, Mattel and dozens of other companies and franchises will take over the sprawling venue. Visitors can also expect some free items and giveaways on the floor.

A robotic creature rolls in front of the convention center on day three of Comic-Con International on Saturday, July 23, 2022, in San Diego. The comic book and pop culture extravaganza, which draws over 130,000 fans annually, opens for a preview night Wednesday and runs from Thursday through Sunday. PHOTO: AP

The “Artists’ Alley” in the exhibit hall also features dozens of rising creators selling art prints, comics, toys, books, collectibles and more.

Many attendees scramble on preview night and in the convention’s first day to try to snag the merchandise that is exclusive to the event. Retailers big and small boast rare collectibles, and they sell out quickly.

Memorable cosplaying

Another highlight of the weekend for many is the inventive (and often lifelike) costumes attendees wear. The main exhibition floor is a good place to scout out the best looks, but visitors can expect to see decked-out fans throughout the city all weekend.

 

Australia sanctions Israeli settlers

SYDNEY (AFP) – Australia on Thursday followed Europe and the United States by levying sanctions on Israeli settlers accused of “beatings, sexual assault and torture” of Palestinians in the occupied West Bank.

Foreign Minister Penny Wong announced financial sanctions and travel bans on seven individuals and the Hilltop Youth religious settler group.

“The individuals sanctioned today have been involved in violent attacks on Palestinians” Wong said.

“This includes beatings, sexual assault and torture of Palestinians resulting in serious injury and in some cases, death.”

Settlement expansion has increased sharply since Prime Minister Benjamin Netanyahu returned to power in late 2022 at the helm of a hardline pro-settler coalition.

The West Bank – occupied by the apartheid regime since 1967 – has seen a significant spike in violence since the start of the Israel-Hamas war in Gaza.

At least 589 Palestinians have been killed in the West Bank by Israeli troops or settlers since the outbreak of the war on October 7, according to Palestinian authorities.

Over the same period at least 17 Israelis, including soldiers, have been killed in attacks in the territory involving Palestinians, according to Israeli official figures.

Canberra’s announcement echoes moves by the US, Britain, Canada and the European Union who have also blacklisted Israeli settlers.

“Israeli settlements in the Occupied Palestinian Territories are illegal under international law and a significant obstacle to peace,” Wong added.

The International Court of Justice found Israel’s occupation of the Palestinian territories illegal on Friday.

Judges enter the International Court of Justice, in The Hague, Netherlands, Thursday, May 16, 2024. The U.N.’s top court opened two days of hearings in a case brought by South Africa to see whether Israel needs to take additional measures to alleviate the suffering in war-ravaged Gaza. PHOTO: AP

 

Stubborn warranty costs push down Ford’s 2Q net profits

DETROIT (AP) – In October of 2020, Ford’s then-new CEO Jim Farley said the company was working to cut warranty costs after glitch-prone small-car transmissions hit the automaker’s bottom line.

Nearly four years later, warranty costs are still vexing the nation’s second-largest automaker and lopping billions off of its profits.

Ford Motor Co reported Wednesday that its second-quarter net income fell 4.7 per cent from a year ago as its combustion-engine unit posted a pretax loss due to rising warranty and recall costs.

The profit drop and lingering quality problems knocked net income to USD1.83 billion from April through June, compared with USD1.92 billion a year ago. It caused Ford to badly miss Wall Street estimates for adjusted earnings per share, touching off a stock plunge in after-hours trading.

A motorist puts an electric 2024 Ford Mustang Mach-E through its paces on a test track at the Electrify Expo in The Yards Sunday, July 14, 2024, in north Denver. Ford reports earnings on Wednesday, July 24. PHOTO: AP

Warranty and recall costs last quarter, the company said, totaled USD2.3 billion, USD800 million more than the first quarter and USD700 million more than a year ago.

At its investor day event two years ago, Farley said Ford had made progress on quality of new vehicles as well as initial quality after vehicles were sold. “However we are not satisfied at all with our quality performance, including our recalls and customer satisfaction efforts, which we need to quickly accelerate,” he said at the time.

Chief Financial Officer John Lawler told reporters Wednesday that Ford is making progress on quality. The second-quarter costs were attributed to older vehicles from the 2021 model year and earlier.

Farley told analysts that improvements are showing up in internal data, and in research by JD Power, which found that Ford rose 14 places in this year’s initial quality survey, from 23rd to ninth.

Lower warranty costs, Lawler said, lag 12 to 18 months behind quality improvements, and that’s when lower costs should start to show up.

Farley said many of the problems should have been caught before the older vehicles were put on sale. Now, the company is holding vehicles until it works out problems. “We do not release them until we’re happy with the quality and that we’ve done all the testing,” he said. “And it makes our quarters lumpy, and it’s challenging, but it will reduce warranty over time.”

Second-quarter warranty costs rose due to new technology, recalls and inflationary pressures that pushed up the costs of repair, Farley said. The company soon will be able to predict problems and potentially fix them with online software updates before bigger problems arise, he said.

The profit drop and warranty costs from April through June did not sit well with investors.

Shares of Ford, which had grown about 12 per cent this year as of Wednesday’s market closing, plunged in extended trading during the evening, nearly erasing a year’s worth of gains.

Excluding one-time items, Ford made USD0.47 cents per share. That was far short of industry analysts’ estimates of 68 cents, according to FactSet.

The automaker reported USD47.8 billion in revenue for the quarter, a 6.3 per cent increase over the USD44.95 billion in the second quarter of 2023. That barely beat analyst estimates of USD47.79 billion.

Ford Blue, the company’s internal-combustion-engine unit, made USD1.17 billion before taxes during the quarter, down USD1.1 billion from a year earlier. Ford Pro, the commercial vehicle unit, made USD2.56 billion, USD173 million above 2023. Model e, the electric vehicle unit, lost USD1.14 billion, USD63 million worse than a year ago.

Despite the net profit drop, Ford held its full year guidance for pretax income at USD10 billion to USD12 billion.

Asked by analyst if Ford’s stock is still a good value, Farley said it is, pointing to its highly profitable commercial-vehicle business and new high-margin opportunities from increased service and software revenue.

“I think people will understand over time how many exciting opportunities there are for Ford, and I’m not just referring to vehicles,” Farley said. “I’m referring to non-vehicle activities.”

A not-so-small team in California, he said, is working on a new electric vehicle platform that will yield lower-cost and profitable smaller EVs. The team, he said, has designed EVs and parts that are better and cheaper than competitors. He said the company is working on partnerships that will play out in larger vehicles. It is benchmarking Tesla and Chinese automakers on EV costs, he said.

Ford’s second-quarter sales in the US, its most lucrative market, rose just under one per cent to more than 532,000 vehicles.

Lawler said Ford is on track to cut USD2 billion from material, manufacturing and freight expenses this year, which will be partly offset by higher labor and vehicle update costs.

 

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