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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] South Korean police investigating bribery allegations involving Kang Ho-dong, chairman of NH NongHyup, have conducted search-and-seizure operations targeting former senior executives and a former labor union chief, according to media reports.
Citing an investigation by Chosun Biz on Monday, police last month seized a mobile phone belonging to a former vice chairman of NH NongHyup, identified as A, and searched the home and office of a former union chairman, identified as B.
Kang is accused of receiving KRW 100 million (approximately USD 73,000) in bribes on two occasions from the head of a service provider that maintained business ties with NH NongHyup affiliates, at a time in late 2023 when Kang was widely seen as the leading candidate in the race for NH NongHyup chairman. Investigators are said to have identified circumstances suggesting that the former vice chairman acted as an intermediary between Kang and the service company executive, prompting the raids. The former union chairman is also suspected of involvement in the alleged bribery scheme.
Police have been investigating the allegations against Kang for about six months since October last year and plan to summon him for questioning once the case is sufficiently substantiated through evidence gathered from related individuals.
NH NongHyup is also facing scrutiny over other alleged irregularities. In October last year, prosecutors indicted former NH NongHyup vice chairman Ji Jun-seop without detention on charges related to his alleged involvement in illegal loans totaling approximately KRW 10 billion. Ji is also accused of receiving improper personnel-related requests from Han Sang-kwon, chairman of Seoyoung Holdings, who allegedly benefited from the illicit loans.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
