SEOUL, Jan. 11 (Korea Bizwire) – A special investigation team looking into an influence-peddling scandal centered on President Park Geun-hye and her longtime friend has summoned Samsung’s heir apparent over allegations the group gave undue financial support to the confidante in return for business-related favors, its spokesman said Wednesday. Lee Jae-yong, vice chairman of Samsung [...]
SEOUL, Jan. 10 (Korea Bizwire) – Many top executives of South Korea’s largest businesses are expected to skip the annual economic forum in Davos, Switzerland, this year due to a corruption scandal that has led to the impeachment of South Korean President Park Geun-hye, market observers said Tuesday. Lee Jae-yong, vice chairman of Samsung Electronics [...]
SEOUL, Jan. 6 (Korea Bizwire) – Korea’s anti-corruption law, which took effect on September 28 of last year, did not have as great an impact on the local stock market as initially expected, according to financial watchdogs. Instead, the stock market was more sensitive to China’s retaliatory measures against Korea’s decision to deploy a THAAD [...]
SEOUL, Jan. 5 (Korea Bizwire) – President Park Geun-hye’s close friend, who is at the center of an influence-peddling scandal that led to her impeachment, pleaded not guilty during her first formal hearing held Thursday. Choi Soon-sil, 60, appeared before the Seoul Central District Court as a defendant for a string of charges, including abuse [...]
SEOUL, Jan. 5 (Korea Bizwire) – The Federation of Korean Industries, an embattled lobby organization for Korean corporations that is under fire for its alleged involvement in the Choi Soon-sil scandal, is evaluating reforms, with officials now considering benchmarking the American lobbying group Business Roundtable. The FKI is accused of compelling its members to donate [...]
SEOUL, Jan. 2 (Yonhap) – The daughter of President Park Geun-hye’s close friend, who is at the heart of an influence-peddling scandal that has led to the president’s impeachment, has been arrested in Denmark, police said Monday. According to the National Police Agency, law enforcement authorities in the European country notified their South Korean counterparts [...]
SEOUL, Dec. 27 (Korea Bizwire) – LG Group and KT Corp. on Tuesday announced their withdrawal of membership from the Federation of Korean Industries (FKI), becoming two of the first major conglomerates to do so following the influence-peddling scandal involving President Park Geun-hye and her close friend Choi Soon-sil. The announcements came after the FKI, [...]
SEOUL, Dec. 27 (Korea Bizwire) – South Korea’s independent counsel looking into a corruption case surrounding President Park Geun-hye and her confidante Choi Soon-sil said Tuesday it requested Interpol to put Choi’s daughter on the wanted list. The investigators have been searching for the whereabouts of the 20-year-old Chung Yoo-ra, who is presumed to be [...]
SEOUL, Dec. 22 (Korea Bizwire) – German prosecutors said Thursday they are ready to cooperate with South Korea’s independent counsel looking into the alleged influence-peddling scandal surrounding President Park Geun-hye and her confidante. The independent counsel has been seeking to find the whereabouts of Chung Yoo-ra, the 20-year-old daughter of Choi Soon-sil, who is suspected [...]
SEOUL, Dec. 21 (Korea Bizwire) – Special prosecutors raided the state-run pension service Wednesday to investigate whether President Park Geun-hye and her confidant influenced its dubious support for the merger of Samsung Group’s two units last year. The team led by independent counsel Park Young-soo officially began its investigation into the influence-peddling scandal involving Park [...]