SEOUL — Defence companies in South Korea were raided on Tuesday (July 18) after President Moon Jae In ordered the crackdown on corruptions in the industry..
SEOUL — Defence companies in South Korea were raided on Tuesday (July 18) after President Moon Jae In ordered the crackdown on corruptions in the industry.
Prosecutors raided five sub-contractors of the Korea Aerospace Industries (KAI) as part of their investigation into suspected corruption connected to some major defence projects, Yonhap news agency reported.
Computer hard discs, documents, account books and mobile phones were confiscated, said Xinhua news agency, quoting local media reports.
KAI, South Korea’s sole aircraft developer and manufacturer, was suspected of overstating production costs and embezzling company funds, said Xinhua.
