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 [...]
SEOUL, July 2 (Korea Bizwire) — Lim Seong-geun, former commander of the Marine Corps 1st Division, was grilled for four hours at the office of Special Prosecutor Lee Myeong-hyeon on Wednesday about allegations over the tragic death of a Marine in 2023. Lee’s team called in Lim as a suspect of occupational negligence resulting in [...]
SEOUL, July 2 (Korea Bizwire) — A special counsel team has imposed a fresh travel ban on former first lady Kim Keon Hee as part of its probe into corruption allegations surrounding her, judicial sources said Wednesday. The investigation team, led by special prosecutor Min Joong-ki, made the move after it received the case last [...]
CHEONGJU, South Korea, July 2 (Korea Bizwire) — When Mr. A lost his entire family, his dog became his sole companion — a source of comfort, connection, and continuity. So when that beloved pet was viciously attacked by a neighbor’s dog last September, the damage was more than physical. It felt deeply personal. Last week, [...]
SEOUL, July 1 (Korea Bizwire) — South Korea’s Personal Information Protection Commission (PIPC) has launched an investigation into global sandwich franchise Subway over allegations that its online ordering system left customer data exposed without proper security measures, raising renewed concerns about digital privacy across the country’s food delivery sector. According to the PIPC, Subway’s website [...]