One of the richest men in South Korea, founder of the MMO giant Nexon, has stumbled over corruption allegations.
Kim Jung-Ju, co-founder of Nexon (Maple Story, Vindictus, Atlantica Online), is facing serious accusations. He allegedly bribed a prosecutor between 2005 and 2014 – supposedly with Korean currency worth 800,000 US dollars.
The prosecutor reported sudden wealth – this raised suspicions
Authorities investigated for three weeks before charges were filed. Initial suspicion arose when the allegedly bribed, a senior prosecutor, reported a significant increase in his personal wealth in 2015. South Korean public officials must report their personal assets annually.
Apparently, the official was given money by Kim Jung-Ju in 2005 (around 400,000 US dollars) so that he could buy shares in Nexon – which he then sold in 2015. Furthermore, the accused is said to have reimbursed the official and his family for travel expenses, and a few thousand dollars were added to a car lease.
As we also know from the corruption scandal surrounding our former President in Germany, the details in such affairs are often opaque, dry, and complicated.
The 49-year-old official has now been dismissed by the Supreme Prosecutors Office. It is expected that the Ministry of Justice will decide on his fate in public service following a disciplinary procedure.
Nexon says: Has nothing to do with our company
Nexon founder Kim Jung-Ju is facing charges. Furthermore, he has resigned from his position as Director of NXC.
Nexon points out in a statement that there are no accusations against Nexon itself. They regret the charges, but the company has nothing to do with it.
Nexon states that the allegation is that Kim Jung-Ju financially assisted a former classmate, who is now a prosecutor, and received unspecified advantages in return. They emphasize: He did this either as a private individual or through NXC. Kim Jung-Ju is Director of NXC, and while they are the largest shareholder of Nexon, they are not directly involved in management. The management of Nexon takes the integrity and reputation of the business very seriously.
Another director of both Nexon and NXC, Dohwa Lee, has also resigned – but they do not elaborate on this.
The South Korean prosecutor’s office intends to continue investigating.
