'LH Bribery Ledger' Revealed... Vacation Expenses, Sex Industry Payments, and Employee Spouses' Surgery Costs Included

Small-scale suppliers delivering goods... Spent 300 million KRW over 3 years
LH employees deny bribery allegations

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bong-ju] A ledger meticulously detailing bribes given to LH employees over three years by a company supplying materials for apartments built by Korea Land and Housing Corporation (LH) has been disclosed.

MBC's 'News Desk' reported on the 18th that it obtained the accounting ledger of a small-to-medium enterprise that supplied materials to LH construction sites.

According to the ledger, the company spent over 300 million won in bribes to LH employees over three years.

Importantly, this company is a relatively small-scale business among the many firms serving LH.

On the 18th, MBC's "News Desk" reported that it had obtained the accounting books of a small and medium-sized enterprise that supplied materials to LH's construction site. Photo by MBC broadcast screen capture.

The ledger shows 2 million won in cash spent by the CEO with a pencil note beside it saying 'LH Manager Hwang.'

There are entries for 1 million won in golf expenses for LH Manager Ok, 1 million won for entertainment expenses during a business trip to Busan for LH, 3 million won for LH vacation expenses at the end of July, and 3 million won for farewell money in March during the personnel season.

The ledger even detailed the 500 won fee required for cash withdrawals.

The company's accounting officer explained in an interview with MBC, "(When an LH employee) transfers departments, farewell money is given to the department; during summer vacation season, vacation support is provided. If a parent-in-law passes away, even that was requested. Everything was demanded."

It was also reported that department store gift certificates were distributed at the LH office every holiday.

The accounting officer said, "We usually purchase department store gift certificates about three times a year, spending around 10 million won each time," adding, "If you buy about 10 million won worth of gift certificates, the money circulates once around LH. Congratulatory and condolence expenses are basically between 3 to 5 million won."

There was even a record of paying for surgery expenses of an LH employee's spouse.

The total amount spent by this company on LH employees reached 160 million won in cash alone, and including corporate card expenses, it amounted to 340 million won over three years.

It was also reported that some of this included expenses for prostitution establishments.

The accounting officer explained, "Sometimes cash is used, sometimes cards. For example, (at the establishment) they say 'You have to pay the ladies in cash. Card payment is not accepted.'"

LH employees named in the ledger denied receiving any money.

When asked by MBC reporters about the ledger entry stating "surgery expenses for the wife were also supported," a former LH employee denied it, saying, "That never happened at all."

The CEO also admitted distributing gift certificates during holidays but claimed no cash was given.

This content was produced with the assistance of AI translation services.