Former Hanwha Aerospace Employee Arrested for Assisting Bidding Companies and Receiving Over 480 Million Won

Gyeongnam Provincial Police Agency. Photo by Lee Seryeong

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A former employee of a major conglomerate has been arrested for accepting a large sum of money from companies participating in a parts procurement bid in exchange for helping them win the contract.

The Anti-Corruption and Economic Crime Investigation Unit of the Gyeongnam Provincial Police Agency announced on November 18 that it had arrested and referred Mr. A, who is in his 40s, to the prosecution on charges including breach of trust and bribery.

According to the police, Mr. A, who worked in the parts procurement department at Hanwha Aerospace, is accused of assisting two specific companies in winning bids in 2023 by manipulating the bidding prices and receiving 240 million won from each company, totaling 480 million won.

Hanwha, which has its business site in Changwon, discovered these facts during an internal audit, dismissed Mr. A in July last year, and reported the case to the Changwon Jungbu Police Station.

Both companies that made illicit requests to Mr. A won their bids, and the authorities determined that the two companies were unaware of each other's involvement.

The police have filed for a pre-indictment preservation order to recover the criminal proceeds related to the illicit requests.

In addition, the police plan to continue investigating the two companies that gave money to Mr. A on charges of bribery of breach of trust.

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