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Korean Morality Questioned After Study Results Revealed

Korean Morality Questioned After Study Results Revealed

SEOUL, Jan. 23 (Korea Bizwire) – This, perhaps, best explains the South Korean corruption scandal.  A recent study by the Center for Free Enterprise revealed that Korea’s “rent-seeking index” ranks 30th amongst 35 OECD member countries, indicating that the practice of disobeying the law in pursuit of special privileges is rampant in South Korean society.  [...]

Chief of GM Korea Urges Corrupt Employees to Come Clean Without Consequence

Chief of GM Korea Urges Corrupt Employees to Come Clean Without Consequence

SEOUL, Dec. 30 (Korea Bizwire) – James Kim, president and CEO of GM Korea Co., apparently sought to eradicate what is believed to be widespread corruption among many employees and labor union leaders selling job openings, urging them to come clean without facing any consequences, company officials said Friday.  In a recent e-mail addressed to [...]

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 [...]