Billionaire Kim Barred From Leaving Korea Amid Bond Probe

Billionaire Michael ByungJu Kim has been barred from leaving South Korea as part of a probe by local prosecutors into a bond sale by one of the private equity investor’s portfolio companies.

The restriction was confirmed by a spokesperson for Kim’s firm, MBK Partners Ltd., after Yonhap News reported that prosecutors had on May 17 executed a search and seizure warrant on Kim and obtained his mobile phone. Yonhap cited unidentified sources in the legal industry.