The Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency conducted a search and seizure operation at the headquarters of LD Carbon and related locations on the morning of May 26, 2026.
The police reportedly launched the operation under suspicions that Hwang, the CEO of LD Carbon, provided entertainment to Im Sangjun, Chairman of Korea Environment Corporation (and former Vice Minister of the Ministry of Environment), and are investigating alleged violations of the Improper Solicitation and Graft Act.
The police also conducted a search and seizure at the LD Carbon Seoul office in Jagok-dong, Gangnam-gu, Seoul, as well as at Chairman Im’s premises, where they secured Chairman Im’s mobile phone.
Founded in 2017, LD Carbon is a resource-circulation startup that uses waste tires as its main raw material to produce carbon black (a tire ingredient), pyrolysis oil, paint, and other products.
Hwang, the founder of LD Carbon, was reappointed as CEO at a board meeting in April 2026.
Im, who served as Vice Minister of the Ministry of Environment from July 2023 to June 2024, was appointed Chairman of Korea Environment Corporation, under the Ministry of Climate, Energy and Environment, in January 2025.
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