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POSCO E&C Suspected of Embezzling Slush Fund in Vietnam

POSCO E&C Suspected of Embezzling Slush Fund in Vietnam

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 [...]

Korea’s High-profile Business Owners Under Investigation for Possible Tax Avoidance

Korea’s High-profile Business Owners Under Investigation for Possible Tax Avoidance

SEOUL, Sep. 22 (Korea Bizwire) – More than a dozen business owners and family members of South Korea’s top conglomerates are under investigation for their possible violation of foreign exchange transaction rules, according to the local financial industry sources knowledgeable on the issue.  South Korea’s Financial Supervisory Service (FSS) has launched a formal investigation into [...]