Pizza Hut Korea Ltd., the South Korean operator of the namesake American pizza franchise, on Monday received approval from a court to proceed with an autonomous restructuring support plan, putting on hold court-mandated rehabilitation proceedings after losing a lawsuit brought by store owners. The Seoul Bankruptcy Court said it approved the ARS rehabilitation plan requested by Pizza Hut Korea earlier in the day. An ARS program is a system where a company negotiates debt repayment plans autonom

Prosecutors on Monday requested an arrest warrant for Myung Tae-kyun, a self-proclaimed power broker, over allegations of interfering in candidate nominations in the 2022 parliamentary by-elections through his ties with then presidential candidate Yoon Suk Yeol and his wife. They also filed warrants for Kim Young-sun, a former lawmaker of the ruling People Power Party, and two ex-candidates in the June 2022 local elections, citing risk of destruction of evidence, according to the Changwon Dist

Korean specialty chemicals and materials maker Hansol Chemical said Monday it has filed a complaint with the local antitrust authorities against Chinese TV maker TCL for the misleading advertising of its latest TV sets. The Korean firm accused TCL, China’s largest TV manufacturer, of falsely branding its liquid crystal display TVs as “QD TVs” even though they actually contain no QD or quantum-dot materials that help enhance image quality. Higher-priced QD-incorporated LCD TVs,