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Corruption Investigation Office For High-ranking Officials — news, coverage & facts — IJR

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Corruption Investigation Office For High-ranking Officials

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Corruption Investigation Office For High-ranking Officials

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Business
Shareholder group files complaints against minister and CEOs
A Korea Shareholders Movement Headquarters filed complaints against Labor Minister Kim Young-hoon and Samsung Electronics and SK hynix executives over wage deals that link bonuses to operating profits, arguing such bonuses are not subject to labor negotiations and that the ministers and executives breached duties or abused authority. The complaints follow a May wage agreement mediated by the labor ministry that provided a 10.5% special performance bonus for Samsung and a 10% profit-based share for SK hynix, with critics saying management should seek shareholder approval and prevent asset leakage.
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The Corruption Investigation Office for High-ranking Officials (Korean: 고위공직자범죄수사처), or CIO in short, is an independent agency of the South Korean government responsible for prosecuting crimes and investigating allegations involving "high-ranking officials" or their direct family members.

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