accounting fraud Archives | Be Korea-savvy

Samsung BioLogics Expresses Concerns over FSS’s Leak of Sensitive Information

SEOUL, May 8 (Korea Bizwire) — South Korea’s major biopharmaceutical firm Samsung BioLogics Co., which has been embroiled in an alleged violation of accounting rules, on Tuesday expressed concern over the financial watchdog’s disclosure of sensitive information. “We express deep concern and regret over the situation where sensitive information surrounding the case, which is under [...]

National Pension Service May File Lawsuit against Daewoo Shipbuilding

SEOUL, July 13 (Korea Bizwire) – The National Pension Service (NPS) announced on July 12 that it may file a damages suit against Daewoo Shipbuilding & Marine Engineering Co. (DSME), the country’s third-largest shipyard, due to its suspected accounting fraud. According to a prosecutorial investigation, DSME allegedly committed accounting fraud exceeding 5 trillion won ($4.36 billion) over [...]