SEOUL, Sept. 29 (Korea Bizwire) — South Korean companies’ entertainment expenses rose 7.7 percent on-year in the first half of the year, despite a draconian anti-graft law that came into force in 2016, a market tracker said Sunday. A total of 116 large companies spent a combined 149.6 billion won (US$124.6 million) in the January-June [...]
SEOUL, Sept. 13 (Korea Bizwire) – Since reports emerged that Apple hadn’t sent South Korean journalists invitations to the company’s latest Apple Event, which was held today at the new Steve Jobs Theater, speculation has been circulating that the country’s anti-graft law might have scared off the American consumer electronics giant. It has been widely [...]
SEOUL, Nov. 10 (Korea Bizwire) – An anti-corruption law may be showing its desired extra effect of creating more time for family and home cooking if sales record at a leading retailer is any indication. October sales figures from E-mart released on Thursday showed an 11.5 percent increase for the month to 1.14 trillion won [...]
“It’s regrettable that the law regressed from its original draft. The original draft included three key elements of banning unjust business favors and bribe taking and preventing public officials from pursuing private benefits in handling their given work. But the last element was omitted from the final law.” “I think we can’t just criticize this [...]