The government revealed Sunday that it uncovered suspected cases of misconduct by eight members of the Korean Sport & Olympic Committee (KSOC), including executives and President Lee Kee-Heung.
HYBE has fired and pressed charges against BTS's former dance coach for allegedly embezzling funds and swindling at least 5 billion won. The coach is said to have forged documents in the agency's name.
Prosecutors raided the residence of Hyundai AutoEver CEO Seo Jeong-sik as well as other homes as part of investigations into embezzlement allegations including KT Cloud's purchase of shares of Spark & Associates, which is now know as OpenCloud Lab.
Former Taekwang Group Chairman Lee Ho-jin's residence and company properties were raided by police over allegations of embezzlement and breach of trust. Lee had previously served a prison term for similar charges.
The government and local authorities found high-ranking officials who misused their power, offered privileges to acquaintances or demonstrated a lack of discipline.
An employee at BNK Kyongnam Bank has embezzled $225 million, according to the Financial Supervisory Service, which plans to take strict action against those involved.
Debt-ridden Korean budget carrier Eastar Jet resumed international flights on Saturday after a hiatus of 3 years and 6 months.
The internal financial crime cases must be thoroughly examined for financial authorities and companies to devise a scientific control system.
Financial authorities launched an on-site inspection for a 56.2 billion won ($44 million) embezzlement case at BNK Kyongnam Bank, the Financial Supervisory Service (FSS) said on Wednesday.
A close ally of Democratic Party (DP) leader Lee Jae-myung told investigators that Lee was aware that the former chairman of an underwear company had made payments to North Korea on his behalf, according to state prosecution officials.
Korea JoongAng Daily Sitemap
