Sea Platforms

South Korean prosecutors investigate HHI

24 June 2015

South Korean naval shipbuilder Hyundai Heavy Industries (HHI) has confirmed to IHS Jane's that public prosecutors have investigated the company's offices in Seoul as part of an inquiry into alleged corruption.

A spokesman said on 24 June that "prosecutors investigated the HHI office" earlier this week, confirming reports in South Korea that the prosecutors were investigating allegations related to misconduct in previously awarded contracts to build submarines for the Republic of Korea Navy (RoKN).

No other details related to the case were revealed by HHI.

IHS Jane's understands that the prosecutors are part of an anti-corruption task force set up by the government in November 2014 as part of South Korea's continuing efforts to enhance transparency in defence contracting.

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