[THE INVESTOR] The probe into bribery allegations against Daewoo Shipbuilding and Marine Engineering has expanded with authorities looking at the role of former CEO Nam Sang-tae.
According to reports, the investigators have found evidence that Nam received bribes in return for awarding contracts to HUMEX Shipping & Air Freight Corp.
On June 15, the prosecution applied for an arrest warrant on HUMEX chairman, who is said to be a close acquaintance of Nam. The chairman, identified by his surname Chung, is suspected of giving Nam large sums of money in return for contracts from the shipbuilder.
According to the investigators, Nam was instrumental in HUMEX subsidiaries obtaining 10-year exclusive contracts with the shipbuilder.
In addition to bribery, Chung is also suspected of tax evasion, embezzlement and manipulation of evidence.
By Choi He-suk (
cheesuk@heraldcorp.com)
