“I think a year ago some of us that had Airbnbs were getting booked, realized it was going to be a big event, and came up with the idea to do a festival,” says Shin Ponderosa owner Kris Wittine.

Financial authorities decided to file a complaint against the second-generation owner of Shin Poong Pharm, Jang Won-jun, and its holding company, Songam, for avoiding a loss of 37 billion won by ...