{"id":11459,"date":"2026-10-26T11:19:16","date_gmt":"2026-10-26T11:19:16","guid":{"rendered":"https:\/\/sotnews.agency\/?p=11459"},"modified":"2026-10-26T11:19:16","modified_gmt":"2026-10-26T11:19:16","slug":"lig-da-ceo-denies-companys-involvement-in-bribery-allegations","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=11459","title":{"rendered":"LIG D&A CEO denies company’s involvement in bribery allegations"},"content":{"rendered":"
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LIG Defense & Aerospace CEO Shin Ick-hyun \/ Courtesy of LIG D&A<\/p>\n<\/figcaption><\/figure>\n

The chief of Korean defense company LIG Defense & Aerospace Co. (LIG D&A) on Monday denied the company’s involvement in a bribery scandal linked to weapons procurement bids.<\/span><\/p>\n

Appearing as a witness before the National Assembly’s defense committee, LIG D&A CEO Shin Ick-hyun said two company executives indicted on charges of bribing an official at the Defense Acquisition Program Administration (DAPA) during weapons procurement tenders have maintained their innocence.<\/p>\n

Asked whether the company knew about the alleged payment of 300 million won ($226,700) in bribes, Shin said, “It is structurally impossible for the company to raise such an amount through its internal procedures.”<\/p>\n

Last week, DAPA barred LIG D&A from bidding on defense contracts for two years over the bribery allegations, a move that could hamper the company’s efforts to secure new domestic defense orders.<\/p>\n

LIG D&A expressed regret over the decision, arguing that the penalty was imposed before the criminal trial had concluded. The company said it plans to take legal action to challenge the ban.<\/p>\n

Shin acknowledged his moral responsibility as CEO for the incident but maintained that the company itself was not involved.<\/p>\n

He said LIG D&A has taken steps to reinforce its corporate compliance framework, including the establishment of a new compliance audit office.<\/p>\n

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LIG Defense & Aerospace CEO Shin Ick-hyun \/ Courtesy of LIG D&A The chief of Korean defense company LIG Defense & Aerospace Co. (LIG D&A) on Monday denied the company’s involvement in a bribery scandal linked to weapons procurement bids. Appearing as a witness before the National Assembly’s defense committee, LIG D&A CEO Shin Ick-hyun…<\/p>\n","protected":false},"author":1,"featured_media":11460,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_templately_pack_id":"","_templately_imported_at":"","_templately_source":"","_templately_import_session_id":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-11459","post","type-post","status-publish","format-standard","has-post-thumbnail","category-korea"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t