Builder takes over the Korea Herald - The Korea Times

Builder takes over the Korea Herald

By Jung Min-ho

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Jungheung Group Chairman Jung Chang-sun

Herald Group Chairman Hong Jung-wook

A major builder will take over the Korea Herald, one of the country's three English-language dailies, and its Korean-language sister paper Herald Business.

The Jungheung Group, a Gwangju-based construction company in South Jeolla Province, said Wednesday it has signed contracts to secure a 47.8 percent stake in the Herald Group to take control.

The process will be completed by the end of June.

“For the Herald to make a new leap forward, I thought it would need bold investments for its content and mobile (development) … After searching for investors, I chose Jungheung,” Hong Jung-wook, who has led the Herald Group since 2002, said in a message to staff.

He said Jungheung showed its willingness to ensure the papers' editorial independence.

Jungheung, which has assets of 9.5 trillion won ($8 billion), is known for its apartment brand “Jungheung S-Class.”

Jung Min-ho

Jung Min-ho has worked as a staff writer at The Korea Times since 2012, mostly covering social and political issues. He currently belongs to the Politics & City Desk where he covers topics such as health, labor and human rights. Prior to joining the team, he was responsible for covering North Korea and sports. His article about a biosecurity breach of Middle East respiratory syndrome won him an award from the Korea Science Journalists Association in 2016. He is also the co-author of the book, "Medical Pioneers of Korea" (2019). He served as the head of the international relations committee at the Journalists Association of Korea from 2021 to 2023.

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