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Coal Briquette Donations Plummet with Anti-Corruption Law, Political Scandal

Coal Briquette Donations Plummet with Anti-Corruption Law, Political Scandal

SEOUL, Nov. 10 (Korea Bizwire) – Winter is rapidly approaching, but donations of yeontan, coal briquettes that are used in low-income households for cooking and heating, are not as abundant as they were last year.  Officials point to a combination of factors for the change, including the introduction of the new anti-corruption law, President Park’s [...]

Anti-Graft Law Spurs Witch-hunt for Potential Lawbreakers

Anti-Graft Law Spurs Witch-hunt for Potential Lawbreakers

SEOUL, Oct. 4 (Korea Bizwire) – It has been a week since a controversial anti-graft law took effect in Korea, quickly reshaping Korea’s gifting and dining culture. But the law is also breeding paparazzi, individuals who secretly monitor and hunt for activities that violate the law’s provisions.  These paparazzi are called “Ran-Parazzi”, after the legislation [...]

First Day of Anti-Graft Law: Caution and Confusion

First Day of Anti-Graft Law: Caution and Confusion

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 [...]

Anti-Graft Law Officially Sets Sail in S. Korea

Anti-Graft Law Officially Sets Sail in S. Korea

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 [...]

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

SEOUL, Sept. 26 (Korea Bizwire) – A warrant is being sought to formally arrest the chief of the embattled South Korean retail giant Lotte, prosecutors said Monday, as the high-profile corruption probe into the country’s fifth-largest conglomerate nears its conclusion.  The Seoul Central District Prosecutors’ Office submitted the request to a local court to detain [...]

Prosecutors to Question Lotte Founder at His Office

Prosecutors to Question Lotte Founder at His Office

SEOUL, Sept. 8 (Korea Bizwire) – Prosecutors said Thursday they will question Lotte Group founder Shin Kyuk-ho at his office later in the day over a string of corruption allegations raised against the conglomerate.  The Seoul Central District Prosecutors’ Office said because of Shin’s health issues, its officials will carry out the questioning of the [...]

Gov’t to Maintain Initial Price Ceilings for Anti-Graft Law

Gov’t to Maintain Initial Price Ceilings for Anti-Graft Law

SEOUL, Aug. 29 (Korea Bizwire) – The South Korean government said Monday it has decided to maintain the existing price ceiling for the controversial anti-graft law that will go into effect in late September, despite rising concerns that the new policy will weigh down spending in certain industries.  The remark came as the anti-graft law [...]

New Anti-Graft Law to Impact Businesses around Korean National Assembly

New Anti-Graft Law to Impact Businesses around Korean National Assembly

SEOUL, July 29 (Korea Bizwire) – The Korean Constitutional Court ruled Thursday to uphold a new anti-graft law, a decision that is likely to affect numerous businesses across Korea.  Better known as the Kim Young-ran law, named after its advocate, the law prohibits government officials, civil servants, journalists, and faculty members of private schools from [...]

Business Community Shows Mixed Reaction to Controversial Anti-Graft Law

Business Community Shows Mixed Reaction to Controversial Anti-Graft Law

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 [...]