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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, July 28 (Korea Bizwire) – A tax on cigarettes is usually implemented to promote public health, but it’s also one of the more frequently employed implicit tax collection methods for governments. However, a recent study revealed that countries with cigarette tax revenue that took up a significant part of their overall tax revenue also [...]
SEOUL, May 13 (Korea Bizwire) – Prosecutors formally arrested a judge-turned-lawyer accused of accepting billions of won from clients in exchange for promises to use her connections and influence over courts to help them win lighter sentences. The Seoul Central District Court issued the arrest warrant for lawyer Choi You-jeong Thursday night over suspicions that [...]
SEJONG, May 11 (Korea Bizwire) – The Korea Customs Service (KCS) is reinforcing its crackdown on directly imported goods, with unsanitary food as its main target. The practice of purchasing foreign products (also known as overseas direct purchasing) through e-commerce websites such as Amazon has become commonplace among Koreans over the past few years. The KCS [...]
SEOUL, Dec.29 (Korea Bizwire) – The government is resourcing big data to apprehend corruption dealing with the maintenance costs of apartments. The Ministry of Government Administration and Home Affairs, the Ministry of Land, Infrastructure and Transport, and the Gyeonggi province announced that they adopted the big data method to investigate maintenance costs of apartments and [...]