LIG D&A CEO denies company's involvement in bribery allegations

LIG Defense & Aerospace Co. (LIG D&A) CEO Shin Ick-hyun denied the company's involvement in a bribery scandal linked to weapons procurement bids during testimony before South Korea's National Assembly defense committee. Two LIG D&A executives have been indicted on charges of bribing a Defense Acquisition Program Administration (DAPA) official, but Shin stated that the company is structurally unable to raise the 300 million won ($226,700) in bribes through its internal procedures, and that the executives have maintained their innocence.

The National Assembly's defense committee barred LIG D&A from bidding on defense contracts for two years due to the bribery allegations, which could impact the company's ability to secure new domestic defense orders. LIG D&A expressed regret over the decision, claiming the penalty was imposed before the criminal trial concluded and stating that they plan to challenge the ban through legal action.

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