Nexon – Co-Founder and Chairman steps down due to corruption case

[Source] One of the richest man in South Korea and Co-Founder of Nexon, Kim Jung-ju, has stepped down from his role as a director of the gaming juggernaut. He has been indicted for bribing a senior prosecutor, Jin Kyung-joon, and suspicious stock transactions for the period between 2005 to 2014. Investigations over these accusations have been carried out for three weeks prior to the indictment.

Nexon Chairman

Jin Kyung-joon is suspected of receiving over 900 million won (US$800,600) worth of bribes from Kim Jung-ju, whom is also the Chairman of Nexon. The case came to light as the superintendent-level prosecutor reported a whopping increase in his personal wealth in 2015. All ranking government officials and lawmakers are required to disclose changes in their personal wealth annually.

Nexon official announcement