Former DSME president held on bribery charges

Seoul: The former president of Daewoo Shipbuilding & Marine Engineering (DSME) has been arrested on suspicion of taking bribes from subcontractors, the prosecution said Tuesday. ??Kim Kyong-il is suspected of taking hundreds of millions of won in bribes from DSME's subcontractors in 2007 in return for business favors. ??Approving the arrest, Kwon Ki-hoon, judge of the Seoul Central District Court, said his detention was imperative in order to keep him from fleeing and damaging evidence. ??The arrest happened three months after the prosecution raided DSME headquarters in Seoul to confiscate accounting books and computer disks. ??In a related case, a former DSME executive director, identified as Hong, was indicted in July for allegedly taking 700 million won in bribes in return for providing favorable treatment to subcontractors. ??Lee Chang-ha, a renowned architect and ex-executive of DSME, was also accused of receiving bribes. [14/10/09]