Search results for Seoul Central District Prosecutors Office
Finance
Can Homeplus be rehabilitated? Meritz and MBK escalate clash over responsibility for returns
A dispute between Homeplus\' controlling shareholder MBK Partners and its largest creditor, Meritz Financial Group, is intensifying over responsibility for funding emergency operating money needed for rehabilitation. The Seoul Rehabilitation Court has asked Homeplus to submit a 200 billion won financing plan by June 30, ahead of a July 3 deadline to approve the rehabilitation plan. Prosecutors’ investigation into alleged concealment tied to short-term securities issuance is also emerging as a variable.
Games & Commerce
Prosecutors raid Yanolja and Yeogieottae over alleged expiry of ad coupons
Prosecutors have launched a forced investigation into online lodging booking platforms Yanolja and Yeogieottae over allegations they sold promotional coupon-based advertising products to partner accommodation providers and unilaterally expired unused discount coupons without refunds. The Seoul Central District Prosecutors Office searched the companies’ headquarters on Tuesday, with warrants citing suspected violations of the Fair Trade Act. The probe follows a complaint request by the SMEs ministry and prior antitrust penalties imposed in August.
Finance
Prosecutors expand probe into former Namyang Dairy chairman family over 3.7 billion won breach of trust
Prosecutors are widening their investigation into the family of former Namyang Dairy Products chairman Hong Won-sik over alleged private use of company funds, industry sources said on Monday. The Seoul Central District Prosecutors Office is looking into possible additional misuse beyond 3.7 billion won already charged, including by his wife, Lee Woon-kyung, and their two sons. A first-instance verdict is set for Jan. 29.
