Antitrust Lawyer Blog
On May 29, South Korea’s Yonhap news agency reported that the country’s Prosecutor’s Office has seized documents from the Korea Rail Network Authority (“KR”), to investigate bribery and irregular supply relationships by three to four rail part manufacturers that provided supplies to KR.
In addition, some rail parts manufacturers are being accused of counterfeiting certificates of quality for parts supplied to KR.
Finally, KR officials stand accused by the Board of Audit and Inspection of overlooking the bid-rigging conducted by construction companies in the railway building tenders for a new project that will create a new link between Wonju and Gangneung provinces.
Around 100 investigators have been sent by the prosecutor to the suppliers’ companies, the homes of KR officials allegedly involved in the affairs, and to KR’s offices.
Mark Ye
202-589-1834
mye@dbmlawgroup.com