[JURIST] A South Korean senior prosecutor was arrested Sunday on bribery charges following investigations into his corrupt relationship with major online game company Nexon [corporate website]. Prosecutor Jin Kyung-joon was accused [NYT report] of taking the equivalent of USD $370,000 from Nexon founder Kim Jung-ju in 2005 to buy the company’s unlisted Korean stock. Jin has allegedly garnered $370,000 selling back the Korean shares as well as $11 million selling back Nexon’s Japanese shares last year. Kim is being simultaneously investigated for using corrupt business methods and has promised to cooperate with officials. In addition, Jin is being investigated for intervening in a tax investigation against Korean Air in exchange for a contract agreement for his brother-in-law. Justice Minister Kim Hyun-woong, head of South Korea’s prosecutors, has apologized to the people amidst growing concerns over the relationship between government and business leaders.
Jin’s arrest follows recent news of corruption investigations taking place worldwide. Earlier this month a federal judge in Buenos Aires froze [JURIST report] the assets of former Argentinian president Cristina Fernández de Kirchner who was charged with conspiring to sell USD $17 billion in futures contracts using an inflated dollar value for the country’s own currency. Also this month, a Chinese court sentenced [JURIST report] a former president’s top aide to life in prison after finding him guilty of taking bribes, illegally obtaining state secrets and abuse of power. Last month the Supreme Court of the Maldives upheld [JURIST report] the 13-year prison sentence of former President Mohamed Nasheed on terrorism-related charges.