SEOUL, July 6 (Korea Bizwire) – The founder of a major South Korean pizza franchise was arrested on Thursday over suspicions that he ripped off contractors and embezzled company funds. The Seoul Central District Court issued an arrest warrant for Chung Woo-hyun, 69, former head of MP Group, whose reported mistreatment has aroused public uproar [...]
SEOUL, Jun. 23 (Korea Bizwire) — The chief of a South Korean online game developer is facing a legal battle against his partner over a joint venture they set up in China, according to legal and industry sources on Thursday. Kwon Hyuk-bin, chief executive and founder of Smilegate Holdings Inc., was called in for questioning [...]
SEOUL, Sept. 29 (Korea Bizwire) – The chief of the embattled South Korean retail giant Lotte avoided arrest Thursday as a Seoul court rejected a prosecutors’ request for a warrant to formally arrest him over embezzlement and breach of trust charges. The Seoul Central District Court turned down the request, saying it’s difficult to recognize [...]
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. 20 (Korea Bizwire) – Shin Dong-bin, the chief of the embattled South Korean retail giant Lotte, was summoned by state prosecutors Tuesday as the high-profile corruption probe into the country’s fifth-largest conglomerate neared its conclusion. The 61-year-old business tycoon appeared before the Seoul Central District Prosecutors’ Office as a suspect on a string [...]
BUSAN, Oct. 29 (Korea Bizwire) – A bookkeeper who siphoned money from the company she was working for after getting addicted to an internet broadcast has been arrested. Choi (21), a bookkeeper at a shipping company, started work after she graduated high school in 2011. She was responsible for disbursing her coworkers’ salaries, as well [...]
SEOUL, April 24 (Korea Bizwire) – On March 3, a businessman surnamed Lee visited a bank in Seoul’s Gangnam district and asked a teller to change 5 million won into Singapore dollars. The teller mistakenly gave Lee S$60,000 instead of S$6,000, filling an envelope with sixty S$1,000 notes rather than S$100 notes. When the teller found [...]
SEOUL, March 20 (Korea Bizwire) – POSCO Engineering & Construction Co. (POSCO E&C) appears to have embezzled part of the slush fund it created in the overseas branch in Vietnam, prosecutors said Friday. An internal audit within the company had found that several POSCO E&C officials, including some executives, operated a slush fund worth about 10 [...]