[The Investor] The first arrest in the widening Daewoo Shipbuilding and Marine Engineering corruption probe was made on June 17, fueling speculations that the investigators are closing in on former CEO Nam Sang-tae.

Prosecutors arrested the chairman of HUMEX Shipping & Air Freight, identified by his surname Chung, on charges of bribing former DSME CEO Nam Sang-tae, in exchange for obtaining an exclusive contract. 



According to investigators, Chung, who is Nam’s college friend, is suspected of siphoning HUMEX’s cash and giving it to Nam during his tenure at DSME from 2006 to 2012.

In addition to bribery, Chung is also suspected of tax evasion, embezzlement and manipulation of evidence.



By Ahn Sung-mi (sahn@heraldcorp.com)