Prosecutors Search Offices of Hyundai Engineering and Construction Co.

The first division of Special Investigations of the Seoul District Public Prosecutors` Office (Senior Prosecutor, Joo Chul-hyun) uncovered a corruption scandal and conducted a search of the headquarters of the Hyundai Engineering and Construction Co. located in Gye-dong, Jongno-gu, Seoul, on September 2.

This morning at around 9 a.m., prosecutors disclosed that investigators were sent out to search offices of Hyundai Engineering and Construction Co. employees and imposed a foreign travel ban on two or three executives of the Hyundai Engineering and Construction Co.

Lee Joon-bo, the third deputy chief of the Seoul District Public Prosecutors` Office, said, “We are conducting an investigation on behalf of secret information that we obtained relating to subcontracting construction agreements made by the Hyundai Engineering and Construction Co. after 2000,” and added, “The investigation will not take too long.”

Prosecutors have called in the subcontractors for investigation up until now, and they will call in the Hyundai authorities starting from next week after examining the confiscated data.

It has been reported that prosecutors launched the investigation as some irrationality of the subcontractors related to Hyundai Engineering and Construction Co. was uncovered while investigating another case, and secret information related to the subcontract irrationality of Hyundai Engineering and Construction Co. was obtained.

Jin-Young Hwang buddy@donga.com