Corruption in South Korea is average in comparison with most countries in the Asia-Pacific and the broader worldwide neighborhood. Regardless of South Korea’s low public confidence fee in 2015, it was no less than a step up from the rate in 2007 by 10 percentage points. However, massive chaebols pose vital difficulties as illicit business behaviour is still frequent amongst them. Wikipedia® is a registered trademark of the Wikimedia Basis, Inc., a non-profit group. This page was final edited on 18 November 2024, at 04:23 (UTC). Former South Korean president Park Geun-hye was discovered guilty in 16 charges, together with abuse of energy and bribery, and was then imprisoned for 25 years. Public companies have also been digitalised to be able to keep away from alternatives for corruption. Another former president Lee Myung-bak was also charged with corruption scandals involving major companies in 2018 and was sentenced to 17 years in jail. When ranked by score, South Korea ranked 32nd among the 180 countries within the Index, the place the nation ranked first is perceived to have probably the most trustworthy public sector. By using this site, you comply with the Phrases of Use and Privateness Policy. This fee is significantly lower than the OECD common, which was 41.Eight percent. Claire Lee (9 August 2015). “Korea Herald”. Transparency Worldwide’s 2023 Corruption Perceptions Index scored South Korea at 63 on a scale between 0 (“extremely corrupt”) and a hundred (“very clean”). The South Korean authorities has taken steps to fight corruption, such because the Act on the Safety of Public Interest Whistle-Blowers which protects whistleblowers who report public and personal corruption as well as overseas bribery. Textual content is available under the Artistic Commons Attribution-ShareAlike 4.0 License; further phrases could apply. Some of the massive conglomerates have been involved in tax evasion and corruption, and their powerful position in South Korea’s financial system has made corruption investigation very troublesome.