Police Conduct Third Search Related to POSCO Supply Corruption Case

Panoramic View of Pohang Steelworks

[Asia Economy Reporter Hwang Yoon-joo] The police conducted a search and seizure at the Pohang Steelworks in connection with allegations of corruption involving subcontractor deliveries by POSCO executives and employees. This is the third search and seizure following those in January and March.

The Gyeongbuk Provincial Police Agency's Intelligent Crime Investigation Unit dispatched about 10 investigators to the Pohang Steelworks around 6 a.m. on the 30th to seize mobile phones, computer hard drives, and documents from several executives and employees.

The police reportedly began the investigation following employee reports that high-strength cement delivered to the Pohang Steelworks through subcontractors was of lower quality than the standard, creating safety risks. It is also reported that during the investigation into the subcontractor delivery corruption at Pohang Steelworks, evidence was found implicating POSCO executives and employees.

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