SEOUL, July 8 (Korea Bizwire) – A recent assessment revealed the potential danger of South Korea’s underground economy playing a role in the financing of terrorism. The issue was brought to light on Thursday by professor Kang Kyoung-hun from Dongguk University during a public hearing into the dangers of money laundering in Korea organized by [...]
SEOUL, June 17 (Korea Bizwire) – The Lotte Group is suspected of giving business favors to a company controlled by its founder’s third wife Seo Mi-kyung, who is on the list of those being investigated as part of the retail giant’s slush fund allegations, industry watchers said Friday. The 57-year-old Seo is the 1977 winner [...]
SEOUL, June 14 (Korea Bizwire) – Amid an ongoing investigation into Lotte, one of Korea’s largest conglomerate groups, prosecutors have confiscated the secret safes of Shin Kyuk-ho, founder and general chairman of Lotte, and Shin Dong-bin, the second son of Shin senior and current CEO of Lotte. According to the prosecutors’ office and Lotte officials, [...]
SEOUL, June 14 (Korea Bizwire) – Prosecutors launched a second round of raids on affiliates of South Korea’s retail giant Lotte Group on Tuesday as their probe into the country’s fifth-largest conglomerate widens over the group’s alleged slush funds. The Seoul Central District Prosecutors’ Office said it raided a total of 15 places, including 10 [...]