LIG D&A CEO Denies Corporate Involvement in Defense Procurement Bribery Scandal
Shin Ik-hyun, CEO of LIG Defense & Aerospace (LIG D&A), has denied corporate involvement in a bribery scandal involving a Defense Acquisition Program Administration (DAPA) official, saying it would be structurally impossible to raise 300 million won through the company's official financial procedures.Shin made the remarks on Oct. 26 during a parliamentary audit of the Ministry of National Defense…
Korea IT Times reports that LIG Defense & Aerospace (LIG D&A) CEO Shin Ik-hyun has denied corporate involvement in a defense procurement bribery scandal involving a DAPA official. During a parliamentary audit, Shin stated that it would be structurally impossible to raise 300 million won through the company's official financial procedures, denying any corporate wrongdoing. The controversy led DAPA to impose a 24-month ban on LIG D&A's participation in public procurement bidding.
Brief written by urgent.news from Korea IT Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
