[ WayV ]
JYP's Breath of Fresh Air
Investigations against JYP's former CEO Park Jin-young are in full swing. JYP's management and Bord of Directors distance themselves from his actions.
While the revelations of the past weeks have severely harmed the company's image and caused stock prices to drop drastically, the technology company is already slowly recovering. Although this sudden yet slow upturn is surprising to most, it is a result of the support the rumoured new CEO is getting.
Current JYP COO Seo Changbin is expected to take over the position of CEO. This decision has not yet been made official, however, observers are reporting frequent meetings between COO Seo and the management as well as the Board of Directors.
It is also said that LTM's CEO Lee Taemin and him are on good terms. Allegations against Park Jin-young include incitement to theft, incitement to murder, and bribery. Most of these crimes are said to have been targeted at LTM. In light of this, COO Seo's good relationship with CEO Lee is considered a sign of trust and aided restore parts of JYP's goodwill.
COO Seo is scheduled to give a press conference this Friday afternoon. This press conference follows a long week of discussions and meetings, as a JYP spokesperson informed us.
"We cannot undo what happened but ask to be given an opportunity to make things right. We have personally conveyed our deepest apologies to any party affected and will continue to do so for however long necessary. We will better ourselves and ask the public to closely observe our growth with their own eyes," senior assistant Lee Felix said in a short statement.
The process of coming to terms with its own shortcomings has already begun. Even though the path might be a long one, the company will change to live up to its own and other people's expectations, Lee insisted. They are avidly working on restructuring and increasing transparency.
(Qian Kun, 03.01.2023)
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[ Hankyoreh ]
Seoul's crisis harms South Korea as a whole
Blue House acknowledges loss in trust in the leadership. New elections reportedly scheduled for late January.
Serious allegations against Seoul's former mayor Kang, as well as tech giant JYP's former CEO Park have caused turmoil inside the country. However, this incident also made massive waves internationally. It is speculated that this will have considerable repercussions for South Korea as a location for business. Politicians and economist demand that the thorough investigation of these cases is made a priority.
As Seoul is currently shaken up, President Yoon arranged for new elections at the earliest date possible. In order to not disturb the festivities, elections are rumoured to be held after Lunar New Year.
"Seoul needs a strong pillar to stabilize it and bring back trust in its leadership," a spokesperson of the Blue House said.
The government sees itself in a position where it needs to explain itself in order to avoid additional criticism. The swift elections, therefore, are a means to restore faith and offer a strong leader to troubled citizens.
An official statement from the president is said to be published shortly. A list of mayor candidates is expected earliest by the start of next week.
(Hong Jisoo, 03.01.2023)
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