South Korea Creates Anti-Corruption Agency to Investigate Officials, Companies, Report Says
A new South Korea anti-corruption regulator to target high-ranking government officials could affect private companies doing business with the country, an FCPA Blog post said Jan. 20. The Corruption Investigation Office for High-Ranking Officials will act as an independent agency…
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to investigate corruption cases among both acting and retired public officials, the post said. The body can also investigate crimes related to corruption, including bribes paid by private companies or companies that “acted as accomplices to the crimes committed by high-ranking officials.” The agency is expected to start work in the “next few months,” the post said. Companies doing business in South Korea “should carefully review their risk profiles with respect to interactions with Korea’s senior officials.”