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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Chairman of MBK appears for arrest warrant hearing over bond sale

The chairman of private equity firm MBK Partners, Kim Byung-ju, and three other senior executives appeared at a Seoul court Tuesday to attend a hearing on their potential arrest over sales of short-term bonds of troubled retailer Homeplus. Kim arrived at the Seoul Central District Court after prosecutors sought arrest warrants for Kim and the executives, including a co-chief executive of Homeplus, on charges of fraud and violation of the Capital Markets Act. Kim entered the court building without responding to reporters' questions, including whether he acknowledged the allegations. A decision on their potential arrest is expected to come out as early as later this day. MBK Partners acquired a 100 percent stake in Homeplus in 2015 from British retailer Tesco Plc for 7.2 trillion won ($4.9 billion). The retailer, however, became financially strapped due to a slump in the discount store industry and eventually entered court-led rehabilitation proceedings in March last year. MBK Partners has been accused of allegedly selling a large-scale short-term bond of Homeplus around the time of the cre

Jan 13, 2026By Yonhap
Chairman of MBK appears for arrest warrant hearing over bond sale

2 two-star generals dismissed over martial law involvement

Two two-star general officers were reportedly removed from office Monday over their involvement in former President Yoon Suk Yeol's failed martial law bid, military sources said. The dismissed general officers reportedly took part in forming and operating the martial law command led by former Army chief and martial law commander Park An-su, according to the sources. As part of the disciplinary action, one one-star general officer received a two-month suspension, while six other officers of the same rank received a monthlong suspension. The seven general officers are known to have been aboard a bus that departed for Seoul from the Army headquarters in Gyeryong, South Chungcheong Province, upon an order by Park, the former Army chief. In a statement, the defense ministry disclosed "heavy" disciplinary action imposed on the nine general officers, without disclosing their identities and the level of punitive measures taken against them.

Jan 12, 2026By Yonhap
2 two-star generals dismissed over martial law involvement

New agency replacing prosecution to be tasked with investigating 9 major types of crime

A new government agency replacing the prosecution will be tasked with investigating nine major types of crime, including corruption and insurrection, with oversight from the interior minister, a task force said Monday. The so-called serious crimes investigation agency is one of two agencies, along with the indictment agency, that will be established in October under a government reorganization bill that passed the National Assembly last September. The two bodies will replace the prosecution office and take on its investigative and indictment powers as part of President Lee Jae Myung's administration's drive to address longstanding criticism that the prosecution has abused its exclusive powers by carrying out politically motivated investigations. The new agencies' functions and compositions are outlined in two bills on their establishment, which were unveiled Monday by the prosecution reform task force under the Prime Minister's Office. The interior ministry, which has oversight over the serious crimes investigation agency, and the justice ministry, with oversight over the indictment offi

Jan 12, 2026By Yonhap
New agency replacing prosecution to be tasked with investigating 9 major types of crime

Special counsel seeks 15-year prison term for ex-interior minister over martial law involvement

A special counsel team on Monday sought a 15-year prison term for former Interior Minister Lee Sang-min over his alleged involvement in former President Yoon Suk Yeol's brief imposition of martial law. Special counsel Cho Eun-suk's team demanded the sentence during the final hearing of Lee's trial at the Seoul Central District Court, saying the former minister "took part in the crime of destroying the Constitution" though he was aware of the illegality of Yoon's martial law declaration as a former judge of 14 years. Lee was indicted under arrest in August on charges of playing a key role in an insurrection by not actively stopping Yoon from declaring the decree in December 2024, and instructing the police and fire agencies to cut off power and water to media outlets critical of the then administration. He was also charged with perjury for denying during Yoon's impeachment trial last year that he received such instructions from the then president or conveyed them to the agencies. A court is scheduled to deliver a ruling for Lee on Feb. 12.

Jan 12, 2026By Yonhap
Special counsel seeks 15-year prison term for ex-interior minister over martial law involvement

Who is judge handling Yoon's insurrection case?

A judge previously known for his methodical approach has been thrust into the center of a judicial standoff that could determine the fate of Korean democracy. Judge Jee Kui-youn, presiding over the insurrection trial of former President Yoon Suk Yeol, has become a pivotal figure in a trial that has captured significant media and public attention. The 51-year-old justice currently heads the 25th Criminal Division of the Seoul Central District Court, widely regarded as the most influential trial court in the country. He passed Korea’s highly competitive bar examination in 1999 at the age of 25 after graduating from Seoul National University College of Law. Jee served as a military prosecutor while completing mandatory military duty before spending two decades navigating the Korean judiciary. His ascent was defined by a six-year tenure as a research judge at the Supreme Court — a role that requires exceptional legal acumen and rigor in legal reasoning. Since his appointment to the Seoul Central District Court in February 2023, the judge has presided over several high-profile cases. In F

Jan 12, 2026By Anna J. Park
Who is judge handling Yoon's insurrection case?

Coupang's CEO fails to comply with 1st police summons

Harold Rogers, interim CEO of Coupang, who is under investigation for various suspicions related to a large-scale data leak, has failed to comply with the police's initial summons, a ranking police official said Monday. Park Jeong-bo, head of the Seoul Metropolitan Police Agency, said a second summons has been sent to Rogers after he failed to show up for the first summons. "Coupang has said the scope of the data leak was around 3,000 cases, but it is believed to be much higher, though the analysis has not yet been complete," Park said in a media briefing. Coupang announced the results of its own probe on Dec. 25 that a suspect stole personal information from 33 million users but only saved the data of 3,000 individuals. The police last week summoned Rogers to appear for questioning about the company's own investigation as a defendant accused of obstruction of official duties and obstruction of business. The police are considering imposing an exit ban on the Coupang interim CEO, and he has reportedly expressed his intention to comply with the second summons. Park said his agency will also

Jan 12, 2026By Yonhap
Coupang's CEO fails to comply with 1st police summons

Court holds 1st hearing of ex-President Yoon's trial on charges of benefiting enemy

A Seoul court on Monday held the first hearing of former President Yoon Suk Yeol's trial on charges of benefiting the enemy over allegations of dispatching military drones to Pyongyang in 2024. The hearing took place at the Seoul Central District Court behind closed doors, with Yoon, former Defense Minister Kim Yong-hyun and Yeo In-hyung, former head of the Defense Counterintelligence Command, in attendance. Yoon and the two others have been indicted on charges of aiding the enemy in connection to the alleged drone dispatch to North Korea's capital in October 2024. Special counsel Cho Eun-suk's team believes the alleged dispatch was aimed at inciting the North's retaliation, which could then be used as a pretext for Yoon's martial law declaration two months later. The team charged Yoon with "benefiting the enemy in general," based on its judgment that the drone dispatch led to the leak of military secrets to the North when they allegedly crashed near Pyongyang. The court's bench said it would decide every session whether to proceed with the trial behind closed doors, citing state secrets

Jan 12, 2026By Yonhap
Court holds 1st hearing of ex-President Yoon's trial on charges of benefiting enemy

Police impose travel ban on ex-ruling party lawmaker over alleged bribe taking

Police said Monday they have imposed travel bans on former ruling party lawmaker Kang Sun-woo and two others over their alleged bribery ahead of the 2022 local elections. Rep. Kang, who recently quit the ruling Democratic Party of Korea (DPK) and became an independent, is accused of accepting 100 million won ($68,500) from Seoul city councilor Kim Kyung in exchange for a nomination for the councilorship. The money was reportedly delivered to Kang's then aide, surnamed Nam. All three have been banned from leaving the country pending an investigation into the charges, Park Jeong-bo, chief of the Seoul Metropolitan Police Agency, told reporters. Kim, who returned from the United States on Sunday, will also be summoned soon for a second round of questioning after the first round lasted over three hours into the early hours of Monday, Park said. "It wasn't possible to question her for a long time due to jet lag and health issues," he told reporters, adding it was not a matter of being considerate. He rejected criticism that the police acted belatedly on the investigation by allowing her to lea

Jan 12, 2026By Yonhap
Police impose travel ban on ex-ruling party lawmaker over alleged bribe taking

26 Korean nationals nabbed over sexual exploitation scam crimes in Cambodia

A joint Korean investigation team has nabbed 26 people over scam crimes involving sexual exploitation in Cambodia through cooperation with the local authorities, Cheong Wa Dae said Monday. The pangovernment task force of Korean police and the National Intelligence Service took 26 members of a scam ring in Phnom Penh into custody during raids into their offices and residences on Jan. 5 together with Cambodian police, presidential spokesperson Kang Yu-jung told reporters The suspects impersonated government agencies, including prosecutors and financial authorities, deceiving victims into believing they were implicated in crimes and extorting 26.7 billion won ($18.2 million) from 165 Korean nationals under the pretext of investigating their assets, Kang said. In the process, numerous female victims were forced to record sexually exploitative videos or send explicit photos. "This case illustrates how scam crimes have evolved beyond simply stealing money from ordinary people, instead relentlessly exploiting victims' psychological vulnerabilities and coercing them into producing sexual exploit

Jan 12, 2026By Yonhap
26 Korean nationals nabbed over sexual exploitation scam crimes in Cambodia

Seoul city councilor returns from US to face probe into alleged bribery

A Seoul city councilor returned from the United States Sunday to face a police investigation into allegations she bribed a former ruling party lawmaker for a nomination in the 2022 local elections. Kim Kyung arrived through Incheon International Airport, 11 days after she left the country and headed to the U.S. to meet her child. The timing of her departure had raised suspicions as the police had just begun an investigation into the allegations she gave 100 million won ($68,500) to an aide of Rep. Kang Sun-woo, formerly of the Democratic Party of Korea. "I will faithfully undergo the investigation," Kim told reporters at the airport, where she was met by police officers. Asked why she left the country when a police investigation was underway, she replied, "It was a commitment I made a long time ago." The councilor did not respond to questions about whether she admits to giving the 100 million won. On Friday, it was reported that she had acknowledged giving and getting the money back in a statement recently submitted to police. Kim invited further criticism last week after she was spotted a

Jan 11, 2026By Yonhap
Seoul city councilor returns from US to face probe into alleged bribery
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