SEOUL, June 11 (Korea Bizwire) – The Supreme Court on Thursday upheld a previous court decision on a longtime friend of jailed former President Park Geun-hye in an influence-peddling and corruption case. The highest court confirmed the previous ruling by the Seoul High Court in February that sentenced Choi Seo-won to 18 years in prison [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korea’s top court on Thursday ordered a lower court to reconsider its suspended jail sentence for Samsung heir Lee Jae-yong in a massive bribery scandal that led to the ouster of former President Park Geun-hye. The de facto leader of the country’s top conglomerate was initially sentenced to [...]
SEOUL, April 2 (Korea Bizwire) – South Korea’s top 10 conglomerates reduced their donations for the second consecutive year in 2017 despite their increased operating profit, data showed Monday. An analysis by corporate tracker Chaebul.com showed the donations by the leading business groups fell 13.3 percent from 2016 to 836.1 billion won (US$786.54 million) last year. [...]
SEOUL, Feb. 20 (Korea Bizwire) – Last year, South Koreans trusted government more and businesses less compared to the year prior, while level of trust in the media and NGOs remained nearly unchanged. In total, South Korea’s trust levels in the four sectors of society rose by 23 percentage points from 2016, placing it among [...]
SEOUL, Nov. 29 (Korea Bizwire) — Charity donations by leading conglomerates have shrunk more than 13 percent in 2017 from last year despite business profits fattening their pockets, data showed Wednesday. Donation cuts by Samsung Group were the most striking, according to the data provided by corporate management tracker CEO Score. Samsung Electronics reduced its [...]
SEOUL, March 30 (Korea Bizwire) – A Seoul court held a hearing Thursday to decide whether to issue an arrest warrant for former President Park Geun-hye over a string of corruption allegations that removed her from office. The former president appeared at the Seoul Central District Court at around 10:20 a.m. to attend the review [...]
SEOUL, March 22 (Korea Bizwire) – A local education office said Wednesday it has decided to dismiss three teachers who gave undue academic favors to the daughter of former President Park Geun-hye’s close friend at the center of an influence-peddling scandal. The teachers at Chungdam High School in southern Seoul are accused of unfairly giving [...]
SEOUL, March 14 (Korea Bizwire) – Samsung Electronics Co. has been considering whether to transition into a holding company structure, regardless of the leadership vacuum caused by the detention of its de facto chief, Lee Jae-yong, a senior company executive said Tuesday. Samsung announced last November that it will review a possible switch to a [...]
SEOUL, March 9 (Korea Bizwire) – The culture ministry said Thursday it will enact a bill aimed at protecting artists from political oppression and censorship as part of measures to prevent any future blacklisting of artists critical of the government. Any act that violates artistic freedom and discriminates against artists for political reasons will be [...]
SEOUL, March 2 (Korea Bizwire) – Following allegations against Samsung Group and its role in President Park Geun-hye’s corruption scandal, and the subsequent arrest of its de facto leader Lee Jae-yong, Korea’s largest conglomerate decided to abolish its future strategy office while introducing a stringent screening procedure for any donations exceeding 1 billion won ($885,347) [...]