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  Kwon Hyuk’s Offshore Tax Case: Was the NTS Approach Appropriate After Acquittal? In December 2010, the passport of Sido Group Chairman Kwon Hyuk, 75, was effectively frozen. With the National Tax Service preparing to file a criminal complaint over alleged offshore tax evasion, authorities imposed a travel ban. For nearly 15 years, the head of a shipping company operating a 128-ship fleet has run the Hong Kong headquarters by phone and email. In 2016, South Korea’s Supreme Court finalized an acquittal on the central charge of corporate tax evasion. But the NTS tax ass February 26, 2026
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  Toss Bank Nears CEO Decision as Lee Eun-mi Seen as Leading Candidate for Second Term Toss Bank’s process to pick its next chief executive is in its final stage, with industry observers widely viewing incumbent CEO Lee Eun-mi as the leading candidate for another term. They cite the bank’s shift to profitability and the need to maintain continuity in its mid- to long-term strategy. Toss Bank said Feb. 25 it plans to recommend and disclose a final CEO candidate as early as this month and no later than early March. It then plans to confirm the next CEO through a board resolut February 26, 2026
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  Hyundai Founder Chung Ju-yung Remembered at 25th Anniversary Memorial Concert in Seoul "My father in heaven will also be grateful." (Chung Mong-joon, chairman of the Asan Foundation) Members of the wider Hyundai founding family, along with figures from business, politics and culture, gathered in Seoul on Feb. 25 for a memorial concert marking the 25th anniversary of the death of Chung Ju-yung, honorary chairman of Hyundai Group. Around 6 p.m., the lobby of the Seoul Arts Center Concert Hall in Seocho-gu was already crowded ahead of the program. Hyundai famil February 25, 2026
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  Samsung TV Veteran Lee Seung-hyeon Announces Bid for Seoul Mayor “ I will make Seoul’s heart beat strongly.” Lee Seung-hyeon, chairman of Infac Korea and a businessman often described as a “Samsung man,” made the pledge on the 25th as he formally announced his bid for Seoul mayor. He spoke at a book concert in Seoul’s Jongno district marking the publication of his book, “Make Seoul’s Heart Beat Again,” held at the Korea Buddhist History and Culture Memorial Hall. Lee said Samsung Chairman Lee Kun-hee told people in Seoul 34 years ago not to be inti February 25, 2026
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  Jin Air Extends Add-On Service Purchase and Refund Deadlines to 4 Hours Before Departure Jin Air said Tuesday it is expanding the deadlines for buying and refunding ancillary services to improve customer convenience. Under the changes, effective Tuesday, customers can buy or request refunds for key services — including advance seat selection, excess baggage and fast baggage retrieval — up to four hours before departure, extended from the previous 24-hour cutoff. The airline also adjusted the deadline for preordered in-flight meals and meal-pack products to 48 hours before de February 25, 2026
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  Imported EV Price War Intensifies in South Korea as Models Near 30 Million Won Imported electric-vehicle makers are accelerating their push in South Korea with price cuts and subsidy-focused strategies, aiming to bring more models into the 30 million won range that many consumers view as a key psychological threshold. Industry officials said Feb. 25 that Volvo Car Korea will cut the price of its electric SUV, the EX30, by as much as 7.61 million won starting next month. The base trim will fall to 39.91 million won from 47.52 million won. The discounting has spread a February 25, 2026
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  T’way Air to Rebrand as Trinity Air, Expanding Beyond Low-Cost Model T’way Air, a low-cost carrier founded in 2010, will be reborn as “Trinity Air” after 16 years, aiming to raise brand value by combining air travel with lodging and travel services in a “three-in-one” offering. According to industry officials on Tuesday, the airline plans a full rebrand starting around September, applying the new name to aircraft liveries, airport check-in counters, and its booking and ticketing systems. The carrier traces its roots to Hansung Airlines, launched in 2004, February 25, 2026
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  Volvo Car Korea Expands Toy Hospital Drive, Donates 707 Repaired Toys Volvo Car Korea said Tuesday it expanded its “Volvo Toy Hospital” event to major showrooms nationwide, collecting and donating a total of 707 toys in partnership with the Swedish Embassy in Seoul and Kinis Toy Hospital. The event ran from Nov. 15 to Dec. 14 at Volvo showrooms across the country. During the campaign, visitors donated unused or broken toys as part of year-end giving, the company said. Showrooms also offered hands-on programs for families, including a color-book DIY kit de February 25, 2026
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  Kakao Pay CEO Shin Won-geun Buys 59,055 Shares, Pledges Not to Sell While in Office Kakao Pay CEO Shin Won-geun, who is set to begin a third term on March 3, has bought additional company shares and said he will not sell his stake while serving as CEO. Kakao Pay said in a regulatory filing on the 25th that Shin acquired a total of 59,055 shares. He bought 57,055 shares at 5,000 won per share by exercising stock options and purchased another 2,000 shares on the open market at 67,370 won per share. The total purchase was about 420 million won. The purchases raised Shin’s h February 25, 2026
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  Presbyopia Eye Drops Near Korea Launch as Competition Builds South Korea is moving closer to introducing prescription eye drops for presbyopia, drawing growing attention as a non-surgical alternative to glasses, contact lenses and procedures. With convenience a key selling point, early competition is expected to sharpen as more products near launch. According to market research firm Expert Market Research’s “South Korea Myopia and Presbyopia Treatment Market Report and Forecast,” the country’s myopia and presbyopia treatment market is projected to February 25, 2026