SEOUL, July 10 (Korea Bizwire) – Taeil, a former member of the K-pop boy group NCT, was sentenced by a court to 3 1/2 years in prison on Thursday after being convicted of sexual offense. The Seoul Central District Court handed down the sentence to the 31-year-old Taeil and ordered his immediate detention. Two accomplices [...]
SEOUL, July 9 (Korea Bizwire) — A court hearing on whether to issue an arrest warrant for former President Yoon Suk Yeol over charges related to his failed attempt to impose martial law ended Wednesday after nearly seven hours. The hearing at the Seoul Central District Court ran from about 2:20 p.m. to 9 p.m., [...]
SEOUL, July 8 (Korea Bizwire) — A special counsel team raided the national police agency as well as the offices and homes of current and former lawmakers Tuesday as part of its investigation into corruption allegations involving former first lady Kim Keon Hee, legal sources said. In a statement to the media, the team said [...]
SEOUL, July 7 (Korea Bizwire) — A special counsel team said Monday it plans to summon former and incumbent executives of Sambu Construction Co., as it widens its investigation into stock price manipulation allegations involving the mid-sized builder and former first lady Kim Keon Hee. The team — led by special counsel Min Joong-ki — [...]
SEOUL, July 7 (Korea Bizwire) — A hearing on whether to issue an arrest warrant for former President Yoon Suk Yeol over his martial law bid will be held later this week, a court said Monday. The Seoul Central District Court said the hearing has been scheduled for 2:15 p.m. Wednesday following special counsel Cho [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s major conglomerates are scrambling to respond after the National Assembly passed sweeping amendments to the Commercial Act championed by President Lee Jae-myung’s administration. The reform, more aggressive than the version previously vetoed by former President Yoon Suk-yeol, introduces expanded shareholder rights and tighter oversight of corporate boards. At [...]
SEOUL, July 3 (Korea Bizwire) — South Korea’s National Assembly on Thursday passed a revised Commercial Act aimed at strengthening minority shareholder rights, a move welcomed by financial markets as a potential catalyst for resolving the longstanding “Korea Discount” that has weighed on domestic stock valuations. The legislation, which had previously been vetoed under the [...]
SEOUL, July 3 (Korea Bizwire) — Police have raided the Korea Exchange (KRX), South Korea’s stock market operator, as part of an investigation into allegations of irregularity involving the chairman of Hybe, the K-pop agency behind boy band BTS, according to sources Thursday. Investigators at the Seoul Metropolitan Police Agency raided the offices of the [...]
SEOUL, July 3 (Korea Bizwire) — A special counsel team launched a raid on a mid-sized builder Thursday as part of its investigation into stock price manipulation allegations involving former first lady Kim Keon Hee. The team — led by special counsel Min Joong-ki — said in a notice to the press that the search [...]
SEOUL, July 2 (Korea Bizwire) — South Korea’s ruling and opposition parties have reached a landmark agreement to pass a long-disputed amendment to the Commercial Act that includes the so-called “3% rule,” sparking concern across the business community over heightened risks to corporate governance and investment certainty. The amendment, scheduled for a vote in the [...]