Senior Executive at Korea Institute for Industrial Economics and Trade Accused of Receiving Tens of Millions from KAI... Police "Under Investigation"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] A senior official at the Korea Institute for Industrial Economics and Trade, a government-funded research institute under the Prime Minister's Office, is under investigation by the police over allegations of receiving money from the private company Korea Aerospace Industries (KAI) under the pretext of consulting fees.

According to the police on the 19th, the Suseo Police Station in Seoul is investigating Mr. A, a senior official at the Korea Institute for Industrial Economics and Trade, who was reported for receiving 46 million won in four installments from November 2017 to March last year as consulting fees for management improvement from KAI.

The police began the investigation last month after receiving a complaint filed by the Public Interest Reporting Center for a Clean Society.

Kim Young-soo, head of the Public Interest Reporting Center, explained, "Mr. A is subject to the Improper Solicitation and Graft Act as a researcher at a national research institute, and we judged that there was a quid pro quo, which led to the report."

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