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Korean yard bribery scandal unfolds

Korean yard bribery scandal unfolds

Seoul: A couple of bribery scandals have rocked Korea's shipbuilding industry. ?15 executives at two shipbuilding companies, Hyundai Samho Heavy Industries and Daehan Shipbuilding, were booked Thursday on suspicion of accepting bribes to the tune of hundreds of million won. ?12 executives and staff members of Hyundai Samho and three at Daehan are involved in the bribery scandals. 13 subcontractors were also under investigation by authorities. Bribery at Korean yards is nothing new. Last year the president of Daewoo Shipbuilding and Marine Engineering, the world's third largest yard, was hit with similar allegations.  [05/11/10]

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