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THE INVESTOR] Foreign nationals working in South Korea will also be subjected to the new antigraft laws, the Anti-Corruption and Civil Rights Commission said on July 22.
The new law, which will take effect on Sept. 28, prohibits journalists, teachers, civil servants and others in position to exert influence in their professional capacities from receiving gifts and meals over a certain value.
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The cost of a meal per person is set at 30,000 won (US$ 26), the value of gifts at 50,000 won, and monetary gifts given at funerals, weddings and other personal events at 100,000 won.
According to the commission’s interpretation of the law, a foreign national offering a gift in return for a favor and the recipient of the gift is eligible to be punished according to the act. In addition, the commission said that gifts given by overseas-based individuals to South Koreans affected by the act will also lead to penalties.
By Choi He-suk (
cheesuk@heraldcorp.com)
