Power company asks prosecutors to conduct bribery probe

By Lee Joon-seung
SEOUL, Feb. 11 (Yonhap) -- South Korea's state-run nuclear power company said
Wednesday it asked prosecutors to investigate whether any of its employees took
bribes from a U.S.-based valve supplier.
The request came as a former financial chief of the company admitted in a U.S.
court on Tuesday that he had paid executives of six foreign firms an estimated
US$628,000 from 2003-2006 to secure orders. Richard Morlok also claimed to have
sent slightly over $57,000 to a South Korean bank account in April 2004.
"A thorough internal probe failed to verify if bribe-taking took place because we
have no authority to check bank accounts," the Korea Hydro & Nuclear Power Co.
(KHNP) said. "It is imperative for prosecutors to take charge."
Regardless of the results of a prosecution probe, the company plans to implement
sweeping changes to enhance overall transparency and accountability in all
activities, he said.
The name of the U.S. industrial valve maker was withheld. The other firms
involved are three Chinese power companies, Rovinari Power of Romania and Saudi
Arabia's Safco.
KHNP operates four nuclear power plants and 10 hydroelectric dams in South Korea.
The Ministry of Knowledge Economy, which supervises the power company, said it
will take stern action against all company officials involved if the allegations
are proven true.
yonngong@yna.co.kr
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