Kumho Petro Chemical’s Fourth-Quarter Net Profit Falls by 44.7 PercentSeoul Police Raid Home of Teen Suspected in Assault on Lawmaker

SEOUL—In its latest quarterly report, Kumho Petro Chemical Co. disclosed a 44.7 percent decrease in net income for the fourth quarter, amounting to 82.5 billion won (US$61.8 million) compared to the same period a year earlier. The regulatory filing revealed that the operating profit for the October-December period plummeted by 67.8 percent to 36.7 billion won. Revenue also declined, falling 7.9 percent to 1.51 trillion won.

According to Yonhap News Agency, Despite these declines, the company's earnings surpassed market expectations, with the average net profit estimate by analysts at 62.7 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.

SEOUL — The Seoul Metropolitan Police Agency conducted a raid on the home of a teenager accused of assaulting Bae Hyun-jin, a lawmaker from the ruling People Power Party, as part of their investigation to uncover the motive behind the attack. Officials announced on Monday that during the search in Seoul's Gangnam district, police confiscated the suspect's laptop and are examining both the computer and his mobile phone history to gather evidence.

According to Yonhap News Agency, the 15-year-old male middle school student was apprehended last Thursday immediately following the incident where he attacked Bae with a rock the size of an adult man's fist in the southern part of Seoul. Bae, who transitioned from a career as a television news anchor to politics, was hit on the back of her head more than 15 times, resulting in her hospitalization for two days due to a bleeding wound before she was discharged.

In the aftermath of the assault, authorities placed the suspect under emergency hospitalization, considering his age and mental health condition, as he was reportedly awaiting admission to a hospital for a depression relapse. Police plan to question the suspect at the hospital following the end of his emergency hospitalization period on Tuesday. Their investigation aims to clarify the motive behind the attack and to map out the suspect's movements and locations visited prior to the incident.

A police official stated that it is premature to conclude whether the suspect had an accomplice or to specify his criminal motive. Further questioning of the suspect is anticipated. The investigation also includes interviews with the suspect's parents to understand his actions and general behavior, along with a thorough review of his phone communications, CCTV footage, and social media activity.

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