The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: May 22.
ILLIT agency sues ADOR CEO over alleged defamation
Belift Lab, a subsidiary of HYBE and the management agency of K-pop rookie group ILLIT, on May 22 filed a lawsuit against ADOR CEO Min Hee-jin on charges of obstruction of business and defamation.
“It is clarified that the allegations of plagiarism against our artist ILLIT by Min are unfounded,” Belift Lab said. “We will diligently follow proper procedures to resolve this matter, even if it takes some time.” The action is interpreted as a response to Min’s ongoing claims during the dispute with HYBE over management rights, alleging that ILLIT plagiarized ADOR’s girl group NewJeans.
Former President Moon’s memoir sparks ‘Three Lady Kims’ controversy
The “Three Lady Kim—Kim Keon-hee, Kim Jung-sook, Kim Hye-kyung—Special Prosecution Act,” initially proposed by some members of the ruling People Power Party (PPP), is gaining renewed attention following the release of former South Korean President Moon Jae-in’s memoir.
Moon’s wife and former first lady Kim Jung-sook’s 2018 solo visit to the Taj Mahal in India, described in the memoir as the “first solo diplomatic trip of a first lady,” is scrutinized. Critics argue that the opposition, which has been attacking first lady Kim Keon-hee, should also address controversies surrounding Kim Jung-sook and Kim Hye-kyung, the wife of main opposition Democratic Party (DP) leader Lee Jae-myung, regarding her alleged misuse of a corporate card.
Hanwha Qcells’ EnFin completes $250m ABS sale
Hanwha Solutions’ Qcells division (Hanwha Qcells) announced on May 22 that its United States residential solar financing subsidiary, EnFin, has completed the sale of asset-backed securities (ABS) totaling $250 million. ABS are securities backed by underlying assets, such as bonds and real estate, held by corporations and institutions.
EnFin is a wholly-owned subsidiary of Hanwha Qcells U.S., providing financing solutions, including solar loans, to customers looking to install solar panels on their homes. The company officially launched in January last year after a pilot project in 2022.
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