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 [...]
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 [...]