[THE INVESTOR] Kim Jung-ju, founder of the country’s biggest online gaming giant Nexon, has been referred to the prosecution for allegations of embezzlement and breach of trust worth 2.8 trillion won (US$ 2.4 billion). Local civic group SpecWatch said that Kim caused damages for shareholders by short-selling Nexon Korea to Nexon Japan, and also by attaining shares of Nexon Holdings -- former parent company of Nexon Korea -- at cheap prices to create slush funds.SpecWatch also said Kim had made i

July 11, 2016

[THE INVESTOR] The stock assets of Samsung Electronics vice chairman Lee Jae-yong fell by the biggest decline this year among those owned by South Korea's 50 richest people, according to Seoul-based corporate tracker Chaebul.com. Samsung Electronics vice chairman Lee Jae-yong / The InvestorLee‘s stock assets were worth 6.39 trillion won as of this month, down about 20 percent from 7.61 trillion won in January, said the industry tracker on July 9.It attributed the decline to the lackluster perfor

July 9, 2016

[THE INVESTOR] Stakes held by owners, their relatives, affiliates and in the form of treasury stocks at 45 of South Korea’s largest industrial groups inched up to 57.3 percent as of April, according to the Fair Trade Commission on July 7. The 45 are a part of the top 65 industrial groups whose corporate governance is being closely monitored by the government watchdog. These so-called “internal stakes” at the 65 groups altogether reached 29.9 percent, up 0.5 percentage point on-year. The FTC attr

July 8, 2016

[THE INVESTOR] Lotte Group chairman Shin Dong-bin is likely to be summoned by the prosecutors soon to be questioned for his role in a series of malfeasance charges that his company faces, now that his sister has been served with an arrest warrant. On July 4, Shin Young-ja, 74, was issued a warrant on embezzlement and bribery charges. She is the first Lotte founding family member to be placed under arrest. Lotte Group chairman Shin Dong-bin      The Invester / Lee Sang-subYoung-ja was questioned

July 4, 2016

[THE INVESTOR] Shin Young-ja, daughter of Lotte Group founder Shin Kyuk-ho and head of Lotte Foundation returned home on July 2 after 16 hours of questioning by prosecutors.“I’ve said it all,” Shin, 74, told reporters on this day, but did not elaborate. Lotte founder's daughter Shin Young-ja (center) / YoutubeThe authorities had summoned Shin to the Seoul Central District Prosecutors’ office the day before to be questioned on whether she received bribes from Jung Yoon-ho, the former head of cosm

July 2, 2016

[THE INVESTOR] Shin Dong-joo-controlled SDJ Corp. said this week that that the 92-year-old Lotte founder Shin Kyuk-ho has been treated for dementia since 2010. Dong-joo is the oldest son of Shin, and he has been fighting for control over the 90-trillion won (US$ 76.67 billion) Lotte empire with his brother Shin Dong-bin, who is currently reigning as the Lotte Group chairman. The latest announcement from SDJ cannot be good news for Dong-bin in terms of the ongoing investigation, as prosecutors ma

June 30, 2016

[THE INVESTOR] SK Group chairman Chey Tae-won has a new business priority: eco-friendly energy towns. On June 30, Chey announced that SK will devote itself to creating and running more towns across the country running on renewable energy. “Eco-friendly energy towns are an ideal business model that could benefit both Korea and other countries,” Chey said as he toured an eco-friendly energy town located in Hongcheon of Gangwon Province with President Park Geun-hye. President Park Geun-hye (right)

June 30, 2016

[THE INVESTOR] Korean network companies will utilize the Mobile World Congress, an annual mobile device and network trade show to be held from June 29 to July 1 in Shanghai, to help fledgling start-ups tap into the global market.SK Telecom, Korea’s leading mobile carrier, will set up an exhibition venue where 12 start-ups will showcase their services and products during the three-day trade show. The start-ups include Family, a developer of smart pet toy Friendsbot, Ezbelle, an operator of 3-D se

June 28, 2016

 [THE INVESTOR] Reserved and meticulous. These are some of the words often used by those close to Naver’s founder and board chairman Lee Hae-jin, who is regarded as a pioneer in Korea’s web search industry. He builds and executes elaborate business plans and few at the portal company would dare confront him.Lee is credited with growing Naver, which began as a four-member start-up, into the nation’s largest web portal and one of the 10 largest companies in terms of market capitalization in Korea.

June 28, 2016

[THE INVESTOR] A group of opposition lawmakers have revived legislation that would force Samsung Life to drastically reduce its equity holdings in affiliates, including Samsung Electronics, potentially threatening Samsung Group’s de facto chief Lee Jae-yong’s control over the top conglomerate. The original legislation, frequently referred to as “the Samsung Life” or “anti-Samsung bill,” died at the previous, conservative Saenuri Party-controlled parliament amid heavy lobbying from Samsung. The r

June 27, 2016

[THE INVESTOR] Lotte Group chairman Shin Dong-bin has once again won the support of the Japanese shareholders of Lotte Holdings, the group’s de facto holding company, in a vote on Saturday.Dong-bin has prevailed in two previous shareholders‘ meetings, including one in March cemented his hold on Lotte over his elder brother Dong-joo.Shin Dong-bin (left) and his elder brother Shin Dong-jooThe latest shareholder meeting was held at the request of Dong-joo, the former vice president of Lotte Holding

June 25, 2016

[THE INVESTOR] Prosecutors on June 24 indicted Jung Woon-ho, former head of local cosmetics brand Nature Republic. The charges are dereliction of duty and embezzlement. The Seoul Central District Prosecutors‘ Office said Jung misappropriated some 1.8 billion won ($1.55 million) from Nature Republic, and another 9 billion won from an affiliate of the firm between January and February last year. Jung Un-ho.Jung also faces charges that he took 3.5 billion won from another affiliate of the cosmetics

June 24, 2016

[THE INVESTOR] A recent study by The Investor and The Herald Business found that as of this year, 76 of the nation’s richest 100 people were second or third generation of the founding family of South Korea’s top conglomerates.They were also the richer than their wealthy peers in the same age bracket. Richest under 40: Koo Gwang-mo Among South Korea‘s richest aged 40 years or younger, LG chairman’s grandson Koo Gwang-mo, 38, of LG Group is the wealthiest. His net worth is estimated at 751.8 billi

June 22, 2016

[BORN TO BE RICH] Samsung Group chairman Lee Kun-hee is the wealthiest individual in the age bracket of 70 years and older.He is also the richest person in South Korea.Samsung Group chairman Lee Kun-hee (right) and his son Jae-yong (left). Lee’s assets are estimated at 12.27 trillion won (US$10.6 billion). His stocks are worth 11.33 trillion won, including shares in Samsung Life amounting to a 20.76 percent stake, Samsung SDS and Samsung Electronics. Lee’s real estate is worth 938.9 billion won.

June 22, 2016

[BORN TO BE RICH] Kyobo Life Insurance Group chairman Shin Chang-jae, 63, is the wealthiest among Koreans aged 60 to 69 years.Formerly a gynecologist, Shin joined Kyobo Life Insurance on the urgings of his father who founded the firm.  Kyobo chairman Shin Chang-jae.His personal assets are seen to be worth 2.54 trillion won (US$2.2 billion). Most of them are in the form of unlisted Kyobo Life stocks. He also own a 624 square meter home in Seongbuk-dong, which he bought for 5.8 billion won in 2014

June 22, 2016