Executives of two leading South Korean storage giants accused of breach of trust; police launch investigation.

A South Korean shareholder group has filed criminal charges against the CEOs of Samsung Electronics and SK Hynix, alleging their bonuses are not bound by collective bargaining agreements, and police have launched investigations into the case. On August 5, the group called the Korea Shareholder Movement Headquarters announced: "Under the Act on Aggravated Punishment of Specific Economic Crimes, the cases of Samsung Electronics and SK Hynix CEOs suspected of violating shareholder trust have been referred to the 1st and 2nd Investigation Divisions of the Gyeonggi Southern Provincial Police Agency respectively." On the 22nd of last month, the group submitted a complaint to the National Office of Investigation (NOI) of the Korean National Police Agency, accusing Samsung Electronics co-CEOs Jun Young-hyun and Noh Tae-moon, as well as SK Hynix CEO Kwak No-jung. The group argues that the executives approved bonus payments without fully reviewing labor agreements and established a payment mechanism that unreasonably consumes corporate assets, thus constituting breach of trust. (Jinshi)