SEOUL, Feb. 28 (Korea Bizwire) – South Korea’s President Park Geun-hye was named a bribery suspect on Tuesday as special prosecutors wrapped up their three-month probe into a massive influence-peddling scandal. The probe team, led by Independent Counsel Park Young-soo, suspects that the president colluded with her longtime friend Choi Soon-sil and took bribes from [...]
SEOUL, Feb. 28 (Korea Bizwire) – Samsung Group, South Korea’s top conglomerate, has decided to abolish its groupwide employment of new workers as part of reform measures following its involvement in a high-profile corruption scandal, officials said Tuesday. The decision follows Samsung’s move to dismantle the group’s key future strategy office, which has been responsible [...]
SEOUL, Feb. 24 (Korea Bizwire) – The board of Samsung Electronics Co. approved a new clause on Friday that aims to make donations more transparent, after Vice Chairman Lee Jae-yong was arrested over his alleged role in the influence-peddling scandal that led to the impeachment of President Park Geun-hye. Under the new rule, any plans [...]
SEOUL, Feb. 22 (Korea Bizwire) – Lee Jae-yong, Samsung’s de facto leader, again showed up in handcuffs (covered with cloth) at the special prosecution’s office in Gangnam, Wednesday afternoon, for the third interrogation session since his arrest on February 17. South Korea’s third richest man (Forbes, 2016), after his father Lee Kun-hee and AmorePacific chairman [...]
SEOUL, Feb. 22 (Korea Bizwire) – South Korea’s major conglomerates are ramping up efforts to run their sprawling business empires in a more transparent and law-abiding way following a high-profile corruption scandal that led to the impeachment of President Park Geun-hye, sources said Wednesday. Dozens of large companies, including top conglomerate Samsung Group, have been [...]
SEOUL, Feb. 21 (Korea Bizwire) – Hermes handbags, despite their international reputation as an elegant luxury brand, are adding bitterness to their cachet in South Korea as they have been used as a “popular” item for bribes in high-profile political scandals. Industry sources have widely suspected that either a Birkin bag or Kelly bag, two [...]
SEOUL, Feb. 17 (Korea Bizwire) – Lee Jae-yong, Samsung Group’s de facto leader, was formally arrested Friday on charges of bribery in connection with a high-profile corruption scandal surrounding President Park Geun-hye and her friend. With the Seoul Central District Court issuing the arrest warrant, Lee, vice chairman of Samsung Electronics Co., became the first [...]
SEOUL, Feb. 14 (Korea Bizwire) – Special prosecutors on Tuesday sought the arrest of the de facto leader of Samsung Group on charges of bribery in relation to impeached President Park Geun-hye, after their first attempt was rejected by a local court last month. The investigation team, led by Independent Counsel Park Young-soo, in January [...]
SEOUL, Feb. 13 (Korea Bizwire) – The de facto leader of Samsung, South Korea’s largest business group, was quizzed for a second time Monday on charges of bribery, as special prosecutors here accelerated their probe into an influence-peddling scandal centered on President Park Geun-hye. Lee Jae-yong, vice chairman of Samsung Electronics Co., appeared before the [...]
SEOUL, Feb. 9 (Korea Bizwire) – Hundreds of South Korean artists on Thursday filed a compensation suit against President Park Geun-hye and her former aides over allegations her administration blacklisted cultural figures deemed critical of the government, a lawyers association said. A total of 461 plaintiffs filed the case with the Seoul Central District Court, [...]