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Hynix execs arrested on bribery charges - report

Prosecutors allege dodgy share deals

By Tony Smith • Get more from this author

Posted in IT Channel, 26th January 2005 10:25 GMT

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South Korean law enforcement authorities have arrested two Hynix executives, charging them with bribery, local reports claim.

Details remain sketchy, but one of the two executives is alleged to have bought KRW70m ($67,908) worth of shares from a Hynix sub-contractor for just KRW30m ($29,104), according to a Yonhap report.

In return for the discount, the executive allegedly promised to help the sub-contractor win business with Hynix.

The first accused is said to be a 51-year-old executive vice-president named Nam. The second man arrested was not named in the report. Details of the actions of which (s)he is accused were not provided. ®

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