Companies with business operations in Korea should assess the risk of possible violations subject to the CIO’s jurisdiction.
Gwon-lyeog-hyeong bi-li, a Korean phrase that translates as “power-type corruption” in English, refers to corruption involving senior government officials. In January 2021, the Korean government launched the Corruption Investigation Office for High-Ranking Officials (CIO) to investigate this type of corruption along with other crimes committed by senior government officials. Given the CIO’s expansive authority, companies with business operations in Korea are advised to assess the risks associated with interacting with high-ranking government officials in Korea.
Please see full Alert below for more information.