Former and current employees transferred for exchanging tens of millions of won in bribes related to LH delivery payments

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] Former and current employees of Korea Land and Housing Corporation (LH) who accepted bribes worth tens of millions of won from companies in exchange for allowing them to supply equipment to LH construction sites have been handed over to the prosecution.

According to the police on the 16th, the Anti-Corruption and Public Crime Investigation Unit of the Seoul Metropolitan Police Agency sent seven former and current LH employees, including Mr. Han, and two related personnel from the supplying companies to the prosecution on bribery charges on the 29th of last month.

Mr. Han, who was a Grade 1 director at LH, retired and then took office as vice president of a ventilation equipment company. He is suspected of giving LH employees bribes worth tens of millions of won in exchange for supply contracts. In particular, employees who received money under the pretexts of vacation expenses and congratulatory or condolence money were found to have concentrated site supply volumes to this company. It is reported that the company's sales increased more than fivefold over four years starting from 2013.

In April, the police conducted a search and seizure at LH headquarters and the company in question, securing secret ledgers from the company and detecting circumstances indicating bribery transactions. The police plan to continue investigating the funds recorded in the ledgers, whose timing of exchanges is unclear.

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