SEOUL, Sept. 28 (Korea Bizwire) – Amid controversy and doubt, Korea’s new anti-graft law finally went into effect on Wednesday. The law makes it illegal for public officials, journalists, and private school faculty members (and their spouses) to accept meals priced higher than 30,000 won (US$27), gifts exceeding 50,000 won, and congratulatory and condolence money [...]
SEOUL, Sept. 28 (Korea Bizwire) – A much-debated anti-graft law came into force in South Korea on Wednesday, calling for workers in certain sectors who should maintain higher ethical standards and refrain from receiving any gift priced beyond a legal ceiling. Under the Kim Young-ran Law, people working for the government, media outlets and schools [...]
SEOUL, Aug. 19 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning announced Friday that it is currently in talks with IT and telecommunications companies to implement a ‘reject’ feature for mobile gift cards. The use of mobile gift cards and and coupons has grown prevalent in the past year or so due [...]
SEOUL, July 28 (Korea Bizwire) – South Korea’s business community said Thursday it respects the decision by the country’s top court to uphold the controversial anti-graft law, but it called for measures to minimize the law’s side effects. The move came soon after the Constitutional Court upheld the so-called Kim Young-ran Law that prohibits civil [...]
SEOUL, June 23 (Korea Bizwire) – Korean prosecutors who were investigating allegations of GM Korea employees receiving kickbacks in return for business favors are now widening the scope of their investigation to also cover bribes related to employment guarantees. Many have testified that an applicant is guaranteed a permanent position regardless of qualifications if executives of [...]
SEOUL, Jan. 5 (Korea Bizwire) – Prosecutors on Tuesday sought a one-year jail term for a former South Korean prime minister on charges of receiving bribes from a deceased businessman. Former Prime Minister Lee Wan-koo was accused of receiving 30 million won (US$25,000) at his election office in April 2013 from Sung Wan-jong, the late [...]