In a case brought by the U.S.-based hedge fund Mason Capital Management against the South Korean government through the Investor-State Dispute Settlement (ISDS) system, it has been ruled that the South Korean government must compensate it 43.8 billion won (US$31.97 million). The ruling has partially
Samsung Electronics has regained the top spot in global smartphone sales from Apple after five months, thanks to the successful launch of the world’s first AI phone, the Galaxy S24 series, which received favorable reviews in the North American market. The latest increase in sales volumes of new fold
The CEO of Osstem Implant allegedly made approximately 150 million won (US$111,431) in short-term trading profits by utilizing important undisclosed information before the company’s delisting.According to Osstem Implant’s business report for last year released on March 22, the company was informed o
Hanwha Ocean submitted a complaint to the National Police Agency’s National Investigation Division on March 4 to investigate alleged systematic leakage of military secrets related to the Next Generation Korean Destroyer (KDDX) Project by HD Hyundai Heavy Industries (HHI).“It is an objective fact tha
The legal risks facing the former President of POSCO, Jang In-hwa, who has been nominated as the next chairman of the POSCO Group, are growing, sparking controversy.According to industry sources, on Feb. 19, the People’s Livelihood Countermeasure Committee filed a complaint against former President
The legal battle between the sons of the founder of Hanmi Pharmaceutical -- Lim Jong-yoon and Lim Jong-hoon -- and the OCI Group has intensified. OCI Group holds a significant stake in Hanmi Science, the parent company of Hanmi Pharmaceutical Group. The legal battle remains on the question of integr
The CEO Candidate Recommendation Committee of POSCO Holdings finally chose former POSCO President Jang In-hwa, a long-time POSCO insider, with rich experience in the steel business.POSCO Holdings held an extraordinary board meeting on Feb. 8 and resolved to select former POSCO President Jang In-hwa
It has been belatedly confirmed that an Indonesian researcher working on secondment at Korea Aerospace Industries (KAI) is being investigated for alleged leakage of data related to the South Korean supersonic fighter jet, the KF-21 “Boramae.” It has been reported that a total of 49 files were discov
Four labor unions representing Samsung affiliates, including Samsung Electronics, Samsung Display, Samsung Fire & Marine Insurance, and Samsung Biologics, will merge to form a consolidated labor union. The launch of this mega labor union is scheduled for the end of this month. The establishment of t
OneAsia Partners, a private equity fund management company suspected of involvement in Kakao’s illegal market price manipulation during the acquisition process of SM Entertainment, has been handed over to the prosecution. During the investigation, prosecutors reportedly uncovered additional criminal
A well-known Chinese automotive manufacturer is currently under investigation by South Korean law enforcement agencies for allegedly establishing a subsidiary in South Korea and illicitly acquiring domestic battery technologies from Samsung SDI and SK on, formerly SK innovation.According to industry
South Korea’s first food service company Ourhome has responded to the accusation of professional malpractice made by former Vice Chairman Koo Bon-sung against his younger sisters -- current Vice Chairman Koo Ji-eun and the company’s internal director Koo Myung-jin -- the previous day. OurHome stated
Blueprints of a submarine designed by Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) have been leaked to Taiwan, with the police currently investigating the matter. The leaked submarine blueprints pertain to the DSME1400 model, a variant of the 209-class KSS-1 submarine. Three of t
Nexon Korea, the operator of the online game MapleStory, is set to face a hefty fine of more than 10 billion won from the Korea Fair Trade Commission for selling game items with virtually zero chance of being won.The KFTC announced on Jan. 3 that it would impose a corrective order and a fine of 11.6
A South Korea-based brokerage firm has been fined billions of won for allegedly allowing global investment banks (IBs) to short sell stocks without borrowing, ratcheting up tension in the Korean securities industry. This is because although the sanctions were imposed on the foreign-affiliated securi
The public takeover bid for Hankook & Company by MBK Partners, in collaboration with Advisor Cho Hyun-sik of Hankook & Company, has fallen through.On Dec. 26, Ventura, the special purpose company (SPC) of MBK Partners Special Situation Fund (SS) No. 2, announced, “The public takeover of Hankook & Co
Hyundai, Honda, Volkswagen and other foreign automakers in the United States have been accused of sabotaging the establishment of labor unions.Workers at Honda’s Indiana plant, Hyundai’s Alabama plant and Volkswagen’s Tennessee plant have filed complaints with the National Labor Relations Board (NLR
Two global investment banks (IB) have been reported to the prosecution for engaging in illegal short selling transactions amounting to around 56 billion won (US$42.86 million).The Seoul Southern District Prosecutors’ Office filed complaints on Dec. 3 related to alleged violations of capital market l
Prosecutors have embarked on a search and seizure operation targeting the CEO of Hyundai AutoEver and others.The Fair Trade Investigation Division of the Seoul Central District Prosecutors’ Office announced that they have been conducting search and seizure operations at a total of four locations, in
Prosecutors have demanded a five-year prison sentence and a 500 million won (US$386,581) fine for Lee Jae-yong, chairman of Samsung Electronics, indicted on charges of unfairly intervening in the merger of Samsung C&T and Cheil Industries to facilitate a succession of managerial power.At the final h