A worker accused of “stealing” snacks worth less than a dollar in South Korea has finally been acquitted after a legal battle lasting nearly two years.
The logistics firm he was working for had filed a claim against him last year for taking a Choco Pie — a popular South Korean snack — and a mini custard worth 1,050 won (73 cents) from an office fridge last year.
Deeming the offence minor, prosecutors had filed a summary indictment, but the driver insisted he was innocent and requested a formal trial.
A court found him guilty and fined him 50,000 won — around fifty times the value of what he had eaten.
But the worker immediately appealed, and finally won the legal challenge.
“The defendant was acquitted,” an official from the Jeonju District Court told AFP Friday.
The company had argued that unlike its staff, subcontracted workers like the accused were not allowed to open the refrigerator without permission.
But the appellate court said in its final ruling that the drivers were in fact told “they could eat snacks in the office, and the security employees ate snacks during night shifts.”
With 39 other subcontracted workers offering statements that they also ate snack from the fridge, the appellate court ruled that “it is difficult to conclude that the defendant had the intent to steal.”
The defendant’s lawyer told reporters after the ruling the driver “felt deeply ashamed that it led to a trial,” as “he was simply hungry in the early morning and ate a Choco Pie.”
“There were various ups and downs along the way, but I am very grateful for this outcome, and I believe the defendant feels the same,” said the defendant’s lawyer.
The case has sparked public outcry in South Korea, with labour unions comparing the worker to Jean Valjean, the protagonist of French classic novel “Les Miserables” jailed for stealing bread to feed his siblings.
SEOUL (Reuters) -Naver Financial, a unit of South Korean internet giant Naver, has agreed to acquire Dunamu, an operator of the country’s largest cryptocurrency exchange Upbit, in an all-stock deal valued at 15.13 trillion won ($10.27 billion).
The payment platform said in a regulatory filing on Wednesday that the deal, which is one of the largest in Asia this year, aims to secure future growth based on digital assets.
Naver’s fintech subsidiary plans to issue 2.54 shares for every one share in the operator of Upbit.
South Korea has a booming cryptocurrency market, and the merger would help Naver secure new growth drivers in digital assets and stablecoins, allowing investors to expect growth in its fintech business beyond its existing advertising, commerce and content operations, according to analysts.
“Upbit is the largest crypto exchange in South Korea with about 70% market share according to some reports and is hugely profitable,” said Siya Yang, head of marketing at Hong Kong-headquartered HashKey Group, a digital assets services firm.
“Naver can see synergy in the business as it can divert its own user traffic toward the exchange who provides financial products to mostly the younger generation,” said Yang.
Responding to speculation that Naver could list on the Nasdaq, CEO Choi Soo-yeon said on Thursday the company had no specific plans, adding that if a future listing is considered, it will be guided by the goal of enhancing shareholder value.
Naver shares jumped by more than 7% after news of the acquisition, but were trading down 4.2% as of 0507 GMT on Thursday.
Analysts attributed the drop to news about an “abnormal withdrawal” of 54 billion won worth of cryptocurrencies from Upbit on Thursday. Upbit apologised and said it would fully cover the amount using its own assets.
($1 = 1,462.9000 won)
(Reporting by Hyunjoo Jin, Additional reporting by Kane Wu in Hong Kong, Heekyong Yang in Seoul; Editing by Louise Heavens, Ed Davies)
South Korean cryptoasset-related companies can now apply for venture capital (VC) funding after Seoul abolished a seven-year-old ban.
The South Korea newspaper Seoul Kyungjae reported that the Ministry of SMEs and Startups says the existing ban on crypto firms’ VC funding will end on September 16.
The ministry said the State Council, South Korea’s chief executive body and ministerial cabinet has signed off on the move.
The council has agreed to make a partial amendment to the Enforcement Decree of the Special Act on the Promotion of Venture Businesses.
The South Korean Minister of SMEs and Startups Han Seong-sook. (Source: Lee Jae-myung/YouTube)
The amendment will effectively scrap the designation of crypto trading and brokerage-providing firms as “a restricted venture business.”
The ban has been in place since October 2018. At the time, the government of President Moon Jae-in said it was imposing the ban to help cool an “overheated, speculative” market.
The government’s move drew ire from the crypto community. In South Korea, only bars, nightclubs, and licenced gambling venues are subject to similar VC investment restrictions.
The ministry explained that the amendment “reflects the changing global status of the cryptoasset industry.”
It added that the law now provided a wide range of protection systems for domestic crypto exchange users.
The ministry also spoke about the need to “foster” industries in the “digital asset ecosystem.” It made special mention of companies that work with blockchain and cryptography-related technology.
This move, the government added, will allow crypto companies with technological prowess and growth potential to apply for VC investment.
This, the ministry added, will put them on an even footing with other innovative companies in the IT space. The SMEs Minister Han Seong-sook said:
“We will foster a transparent and responsible ecosystem. We will help facilitate the flow of venture capital and the growth of new industries.”
Meanwhile, the South Korean media outlet Kyunghyang Games reported that Kim Jae-jin, the Executive Vice Chairman of the Digital Asset Exchange Association (DAXA), has welcomed Seoul’s pivot toward progressive crypto regulation.
DAXA is an association that comprises the nation’s five biggest crypto exchanges. Kimsaid that the government’s plan to allow ordinary domestic corporations to trade crypto in the near future could prove a “turning point” for the country’s crypto industry.
South Korean YouTuber Hyojeong Park, who was sexually harassed on a street in Mumbai’s Khar while she was livestreaming, has on Friday tweeted a photo thanking the two Indian men who helped her take action regarding the incident.
The Korean tourist thanked the two men, Aditya and Atharva, in her tweet for pushing her to post the video and also saving her from further harassment.
Hyojeong tweeted a photo of them having lunch at a Mumbai restaurant with the caption that read, “Lunch with two Indian gentlemen who help me to post the video and save me on the street. Aditya and Atharva.”
The accused, Mobeen Chand Mohd Shaikh, 19, and Mohd Naqib Sadarialam Ansari, 20, were nabbed from Patel Nagar in suburban Bandra and they have been sent to one-day police custody. This happened after Indians on social media asked the Mumbai Police to take action against the men who harassed the tourist. An FIR was lodged under section 354 IPC at the Khar Police station.
The Korean tourist in the video said, “My name is Hyojeong Park. I am from South Korea. I was assaulted in Mumbai, India. This is the video.”
Park’s video that surfaced on Wednesday showed the woman being sexually harassed by the accused. The young man could be seen coming very close to her and trying to pull her by holding her hand even when she protested.
As the woman began to walk away from the spot, the man again appeared on a motorbike with a friend, offering her a lift while she told him in broken English that she did not want it.
Park runs the online handle titled ‘Mhyochi’, according to which she loves playing video games and connecting with others through Twitch.
The South Korean woman YouTuber who was allegedly harassed on a Mumbai street was thankful to Mumbai Police for taking quick action and said she plans to stay longer in India.
Mumbai Police on Thursday arrested two men for allegedly harassing Hyojeong Park on a street in the city while the vlogger was live-streaming.
In an exclusive interview to India Today, the woman said, “I was followed by the accused to the hotel and when they asked for my mobile number, I gave them a fake one to escape the situation.”
The accused first yelled ‘I love you’ to grab her attention but she ignored them, she told India Today.
“The accused approached and one of them started harassing me by grabbing my hands. He took me close to his two-wheeler to offer a lift. When I refused to do so, the accused put his hand around my neck and tried to kiss me on my cheeks,” the vlogger said, narrating her ordeal that she said happened on Tuesday late night.
“I was pretty shocked. I tried my best not to escalate the situation and tried to leave. But he grabbed my wrist and dragged me to his motorcycle, the Korean vlogger said.
देश में अपराधियों के हौसले बहुत बढ़ गए हैं! कितने दुःख की बात है कि एक विदेशी लड़की मुंबई की सड़क पे विडीओ बना रही थी और उसके साथ लड़कों ने यौन शोषण किया! इन लड़कों के अपराध के कारण पूरा देश आज शर्मिंदा है। CM एकनाथ शिंडे जी से अपील है इस केस में कड़ी कार्यवाही करें। pic.twitter.com/mIB3k9peDi
She told ANI that something similar happened to her in another country but she couldn’t do anything to call police, while in India action was taken very quickly.
“Happened to me in another country too but at that time I couldn’t do anything to call Police. In India, action being taken very quickly. I’ve been in Mumbai for over 3 weeks, planning to stay longer
“I don’t want this one bad incident to ruin my whole travel and my passion to show wonderful India to other countries,” Hyojeong told ANI.
A video surfaced on Wednesday showing the woman being sexually harassed by a young man in Khar area of Mumbai.
A Twitter handle which had shared the video claimed the woman was from South Korea and was livestreaming in suburban Khar when the incident took place on Tuesday.
I don’t want this one bad incident to ruin my whole travel and my passion to show wonderful India to other countries: South Korean YouTuber Hyojeong Park, who was harassed in Mumbai while live streaming
The video showed a young man coming very close to her and trying to pull her by holding her hand even when she protested.
As the woman began to walk away from the spot, the man again appeared on a motorbike with a friend, offering her a lift while she told him in broken English that she did not want it.
The police took notice of the incident on their own after receiving the video on their Twitter handle, an official from Khar police station said.
After establishing the identity of the two accused, aged 19 and 21, the police nabbed them from Patel Nagar in suburban Bandra and they have been sent to one-day police custody.
A relaxation of travel restrictions to Japan may revive the fortunes of Lotte Duty Free’s store in … [+] Ginza, Tokyo.
Lotte Duty Free
Lotte Duty Free is stepping up promotional activity in its core South Korean retail operations on the back of Japan’s decision to open up to international visa-free travel once again, though proof of vaccination or a negative PCR test will still be required. The move offers new opportunities for duty-free sales in both the duty-free retailer’s home market and in Tokyo where Lotte has a large store.
On June 10, 2022, Japan reopened to tourism, but strict rules remained in place. Travelers had to be part of an organized package tour and there was a daily cap of 50,000 on arrivals. From October 11, there will be no arrivals limit, and individuals can enter the country visa-free, which is expected to drive demand from South Korea. Pre-covid, more than 60 nationalities could travel to Japan without a visa and stay for up to 90 days, but the program was suspended during the pandemic as part of the country’s strict safety measures.
Lotte Duty Free, which has had a large 47,400 square foot department store in Ginza, Japan’s main shopping precinct, since 2016, has decided to actively promote travel to Japan in its home market where year-over-year sales have more than trebled in recent months. Koreans and the Chinese had a propensity to travel and shop in Japan pre-pandemic and the company is taking its own steps to ensure the travel bug will be revived.
In August 2019, the Chinese were the top nationality visiting Japan with over a million arrivals while Koreans ranked third after the Taiwanese. In August this year, Koreans ranked second after the Vietnamese, though total arrivals remain substantially down from 2.5 million in August 2019 to just 170,000 this August.
Lotte Duty Free will give away three-day, two-night round trips from Korea to Tokyo on Korean Air. The packages for two include hotel accommodation and will be awarded to the first 25 customers spending more than $4,000 at the retailer’s World Tower store in Seoul, and through a lottery to five lucky customers who spend more than $500 across any of the company’s downtown outlets.
Mini-promotions to emphasize travel to Japan
Lotte will hold various events for local customers with an emphasis on Japanese products. As part of a specific ‘live commerce’ activity called ‘LDF Live Travel, Love Duty Free’ the retailer, in partnership with NHN Doctortour, will introduce travel products “with special benefits at reasonable prices.”
The opening of Lotte Duty Free at Tokyu Plaza Ginza in 2016 was a major event in the company’s … [+] history. (Photo by Jun Sato/Getty Images)
Getty Images
Various mini promotions will be held until the end of November for domestic customers who are planning to depart for Japan. They range from potential $3.50 (5,000 Korean won) prizes credited on LDF Pay—a payment platform introduced in 2019—on purchases over $1 in downtown duty free shops, to higher-value prizes.
Credits for bigger amounts can be won via lotteries by customers who write reviews about their trips to Japan on Lotte Duty Free’s online site. And through the KakaoTalk messenger service, $35 (50,000 Korean won) LDF Pay coupons will be sold on specific days on a first-come, first-served basis at a 30% discount.
High volume, smaller promotions and giveaways like this are a proven way for the retailer to drive footfall to its websites and downtown duty-free stores in Korea. According to Lotte Duty Free, sales in the past quarter have recovered strongly. A spokesperson for the retailer said: “Despite the high exchange rate, domestic sales in the past three months have increased by 230% compared to the same period last year. We expect the upward trend to continue.”
Reviving Japanese aspirations
The trend has been very different in Japan due to the lack of tourist traffic. When Lotte Duty Free first entered the fledgling Japanese downtown duty-free market in 2016 the retailer had ambitious plans to open four to five similar stores to its Tokyo flagship in other parts of the country. At the time, the company expected that sales from these outlets might reach one trillion won (about $700 million) within a decade.
The promotional activity in South Korea is part of a strategy to spur travel to Japan again and help revive the fortunes of Lotte’s Ginza store. Luxury brands there cover categories such as watches, jewelry, cosmetics, perfumes, electronics and accessories and include K-beauty and K-fashion labels, which were popular with Chinese travelers who, with a few exceptions, remain largely confined within their borders.
Lotte Duty Free recently opened a store in downtown Sydney, Australia, where it claims it is also targeting sales of a trillion Korean won within a decade.
