Korea Industrial Complex Corp official dismissed over bribery allegations

A high-ranking official at the Korea Industrial Complex Corp (KICO) has been dismissed following allegations of soliciting massive bribes and accepting illegal entertainment. According to disciplinary documents obtained by National Assembly member Kwon Hyang-yeop, a deputy manager at the Jeonnam regional office used his position as a construction supervisor to attempt to secure a 500 million won rebate.

The official reportedly asked an acquaintance to contact a pipe rack construction company to demand the 500 million won, suggesting a rebate rate of approximately 3% of the total contract value. While there is no evidence the full amount was paid, the official allegedly used his authority to pressure contractors, implying that failure to comply with his instructions could lead to disadvantages regarding construction period extensions.

In addition to the bribery attempt, the official was found to have accepted approximately 6.02 million won in illegal entertainment, including alcohol and hostess services at entertainment venues, on nine separate occasions between August 2023 and April 2024. KICO dismissed the employee in December 2023 and imposed a fine of 6.02 million won. Representative Kwon has called for a full investigation into all KICO-supervised construction and supervision sites to determine if such rebate practices are systemic.