Former POSCO Employee Receiving Bribes from Partner Company Faces Increased Sentence in Appeal Trial

Daegu District Court. (Photo by Daegu District Court)

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] A former POSCO employee who was prosecuted for receiving bribes in exchange for registering partner companies had his sentence increased in the appellate court.

The Daegu District Court Criminal Appeals Division 1 (Chief Judge Choi Jong-han) overturned the original ruling and sentenced former POSCO employee A (51), who was charged with receiving bribes in exchange for registering partner companies (embezzlement and bribery, etc.), to 1 year and 4 months in prison and a fine of 40 million won, the court announced on the 2nd. Previously, the first trial court sentenced A to 1 year in prison and a fine of 40 million won, and both the defendant and the prosecution appealed.

A was prosecuted for registering companies with poor technical skills into POSCO's partner company pool around 2017, allowing them to participate in bids, and receiving a foreign luxury car worth about 90 million won and 40 million won in cash as bribes.

The court stated, "The defendant's actions compromised POSCO's transactional integrity, and considering the possibility that companies with excellent resources and technology were not selected as POSCO's business partners, the sentence imposed by the original court was too light and therefore unjust."

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