Auckland's longest-running Korean-language newspaper has folded after an 18-year run, following a High Court order for it to pay $250,000 damages to a prominent Korean businessman it defamed.
New Korea Herald editor John Yoo said he would appeal against the decision but did not think he would have the resources
to keep the business afloat even if he won.
Mr Yoo said he would continue to publish the news he gathers online.
Justice Paul Heath ruled last month that a series of articles the paper published had set out to "destroy" the character of 73-year-old Jung Nam Lee, a martial arts pioneer in New Zealand.
Mr Lee was awarded damages of $250,000 for a series that made false allegations about his association with the Fiji Professional Golfers Association. He had sought $400,000.
The judge said the order for compensatory damages was made jointly and severally against the newspaper and its directors, Young Kwan Kim and Mr Yoo.
He said the articles were a "deliberate, if misguided" attempt to destroy Mr Lee's character and there was no defence to Mr Lee's claim that he had been defamed.
The New Korea Herald is a free newspaper, distributed mostly to the 22,000 Koreans living in Auckland.
Korean Society vice-president Audrey Chung said Korean-language newspapers played an important role for many in the community.
"It's the main source of information for those who cannot read English and many also like to look at the advertisements for Korean goods and services that they cannot find in mainstream media." .
Ms Chung said news of the demise of the New Korea Herald was sad but there were more than enough other local Korean-language newspapers and magazines to fill the void.
