What Happened
Bribery Probe Uncovers Contract Irregularities Amid Defense Project
A dispute has emerged over the increased subcontract price for a defense project in Korea, with LIG Defense&Aerospace and the Defense Acquisition Program Administration providing differing explanations. The issue has sparked a bribery probe, with allegations that funds were raised through a subcontractor and flowed to a Deputy Director at the Defense Acquisition Program Administration. CEO Shin Ik-hyeon has denied direct involvement, but acknowledged responsibility as CEO. The incident was reported by CHOSUNBIZ.