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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, November 6 (local time) — South Korean police have referred former and partner-company employees of Doosan Bobcat Korea, a subsidiary of Doosan Bobcat, to prosecutors on suspicion of bid-rigging and bribery, according to officials familiar with the investigation.
The Seoul Metropolitan Police Agency’s Anti-Corruption Investigation Unit said that 16 individuals — including one former Doosan Bobcat Korea executive and 15 employees from partner firms — were transferred without detention to prosecutors late last month. The alleged collusion is estimated to have involved contracts worth more than ₩10 billion (≈ US $7.3 million).
Doosan Bobcat reportedly discovered irregularities during an internal audit in July 2024, which identified suspected breaches of trust involving one former and four current executives of Doosan Bobcat Korea. The company dismissed those implicated and reported the findings, prompting police to launch a formal probe.
Investigators believe a former senior executive accepted bribes and entertainment benefits in exchange for funneling work to preferred subcontractors. Police are also continuing to investigate separate breach-of-trust allegations related to the case.
A Doosan Bobcat spokesperson said the company had “proactively identified and addressed the issue through internal controls”, adding that it is now strengthening compliance and oversight mechanisms to prevent future misconduct.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
