Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
4
First snow to fall in Seoul on Wednesday
-
5
Man convicted after binge eating to avoid military service
-
6
S. Korea not to attend Sado mine memorial: foreign ministry
-
7
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
8
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
9
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
10
Nvidia CEO signals Samsung’s imminent shipment of AI chips
The prosecution arrested a former POSCO executive late Saturday night without a warrant for stashing away company funds at the steelmaker’s construction operation in Vietnam.
The ex-executive, surnamed Park, is suspected of having created around 10 billion won worth of slush funds and embezzling 4 billion won of them between 2009 and 2012 when he was leading the Vietnam project of POSCO Engineering & Construction as its overseas unit chief.
Park and POSCO E&C had argued that the funds were used as a rebate, paid to the builder’s subcontractors.
The prosecution plans to to ask the court to issue an arrest warrant Park to take him into custody, citing evidence that a large portion of the money had been utilized elsewhere.
The investigative agency has recently conducted a full-fledged probe into the case involving the slush fund scandal in Vietnam by raiding some of POSCO E&C subcontractors including Heungwoo in Busan.
(kys@heraldcorp.com)
The ex-executive, surnamed Park, is suspected of having created around 10 billion won worth of slush funds and embezzling 4 billion won of them between 2009 and 2012 when he was leading the Vietnam project of POSCO Engineering & Construction as its overseas unit chief.
Park and POSCO E&C had argued that the funds were used as a rebate, paid to the builder’s subcontractors.
The prosecution plans to to ask the court to issue an arrest warrant Park to take him into custody, citing evidence that a large portion of the money had been utilized elsewhere.
The investigative agency has recently conducted a full-fledged probe into the case involving the slush fund scandal in Vietnam by raiding some of POSCO E&C subcontractors including Heungwoo in Busan.
(kys@heraldcorp.com)
![[More than APT] Residents, architects together design homes](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/11/24/20241124050036_0.jpg&u=)
