Police Request Arrest Warrant for Hyundai Development Executive in Connection with Hakdong Disaster (Comprehensive)
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[Asia Economy Reporter Jang Sehee] The police have requested an arrest warrant for an executive of HDC Hyundai Development Company on charges of bid rigging related to the Gwangju Hakdong disaster. It was revealed that the approval for the selection of the demolition contractor for the Hakdong collapse accident was made by the representative of the I-Park developer in Seo-gu, Gwangju, during the tenure of the head of sales at Hyundai Development Company.
The Gwangju Police Agency Investigation Headquarters (Anti-Corruption Economic Crime Investigation Unit) applied for an arrest warrant on the 13th for executive A of Hyundai Development Company in connection with contract irregularities related to the collapse of the demolition building in Hakdong, Dong-gu, Gwangju. A is suspected of being involved in selecting the demolition contractor who conducted illegal demolition activities at the time.
It was confirmed that instead of selecting the contractor through a bidding process, a pre-designated company was chosen as the demolition contractor through a restricted competition format. Furthermore, it was revealed that former Hyundai Development Company CEO Kwon Soon-ho and former head B approved the bidding related to the selection of the demolition contractor. The police plan to separately verify whether they were also involved in bid rigging.
Meanwhile, Hyundai Development Company is facing severe criticism after an apartment structure under construction in Seo-gu, Gwangju, collapsed seven months after the Hakdong disaster occurred.
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Regarding this, a Gwangju Police Agency official stated, "The handling of the Hyundai Development Company executive’s custody has been prepared since the end of last year," and added, "The collapse accident that occurred in Seo-gu is completely unrelated to the investigation of this case."
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