Daewoo Head Indicted Over Illegal Exports [South Korea]

Author: Kang Shin-who, Korea Times , Published on: 6 December 2006

A number of Korean defense equipment companies exported production facilities and technology of weapons to Myanmar in violation of the law on exports of strategic goods, the prosecution said Wednesday. Among them are big companies including Daewoo International and Doosan Infracore (part of Doosan Group). It said the seven companies violated strategic goods regulations and fabricated exporting documents to pretend they have sold normal industrial machinery to Myanmar. Related to this, 14 high-ranking officials from the companies, including Daewoo International President Lee Tae-yong, were indicted without detention, it said...This is the first time that Korean companies are indicted on charges of illegal outflow of the nation's strategic goods and technology in a way to build plants overseas...

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Related companies: Daewoo International (part of Posco) Doosan Group