KAI CEO quits, defense industry fears exports will fall
Jul 20, 2017
The chief executive of Korea Aerospace Industries offered to resign Thursday as the prosecutorial probe into the country’s sole aircraft manufacturer is expected to further expand on President Moon Jae-in’s vows to eradicate defense industry corruption. The prosecution is currently scrutinizing the allegations that KAI Chief Executive Ha Sung-yong created slush funds and illegally lobbied Cheong Wa Dae officials and lawmakers for his reappointment in May 2016. Earlier this week, its suppliers we