Organization

Corruption Investigation Office For High-ranking Officials

government agency in South Korea

Also known as CIO, Kowi Kongjikcha Pŏmjoe Susach'ŏ

In the news

coverage spread: L50/C0/R50

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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Key facts

Country: South Korea
Headquarters: Gwacheon
Inception: July 15, 2020
Website: https://cio.go.kr/

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