Insolvency Archives | Be Korea-savvy

Prosecutors Question CEO of Qoo10 over E-commerce Insolvency Incidents

SEOUL, Sept. 30 (Korea Bizwire) — Prosecutors on Monday grilled an e-commerce tycoon believed to be at the center of the large-scale insolvency incidents involving online shopping platforms TIMON and WeMakePrice. Ku Young-bae, CEO of the Singapore-based Qoo10 Group, the parent company of TIMON and WeMakePrice, underwent questioning as a fraud and embezzlement suspect at [...]

222 Indicted over Unlawful Legal Service to Personal Bailout Applicants

SEOUL, July 6 (Korea Bizwire) – Prosecutors on Wednesday said some hundreds of people, including scores of brokers and lawyers, have been indicted on charges of providing unlawful legal service to people applying for personal bailout programs. The Seoul Central District Prosecutors’ Office said it arrested 225 suspects — including 181 brokers and 41 lawyers [...]