Nexon chairman steps down following corruption indictment

Oh, this is going poorly.

Kim Jung-ju is one of the richest men in South Korea and co-founder of Nexon. He also was chairman at Nexon, but he has stepped down following an indictment by South Korean investigators on charges of corruption. The investigation has been ongoing for three weeks now, covering a series of bribes to senior prosecutor Jin Kyung-joon totaling around $800,000 and suspicious stock trading activity between 2005 and 2014.

Following the indictment, Nexon released a press release stating that while the company is sad to hear the news, Kim Jung-ju’s actions appear to have been entirely personal and do not reflect upon Nexon or its employees. It’s too early to say what effect this will have on Nexon’s operations in the longer term, although we encourage our readers to come up with speculative theories wherein the whole thing culminated with driving a car into Nexon’s headquarters.


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