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Global Contagion Report: Korea Hydro and Nuclear Power Co.

Country: Korea

Company Involved: Korea Hydro and Nuclear Power Co. (KHNP)

Industry: Power

Industry Subsector: Alternative Fuels

Official Involved: Kim Jong-shin, former chief of the state-run KHNP

Summary: Kim Jong-shin, former chief of the state-run Korea Hydro and Nuclear Power Co., has been under investigation on charges of taking 100 million won ($87,000) in bribes from one of the company’s contractors. The Busan District Court has now issued an arrest warrant for Kim. He resigned a year ago before his term expired amid criticism over power outages, with prosecution looking into irregularities involving a parts supplier to KHNP’s nuclear plants. Operations have been suspended at six nuclear reactors in South Korea after they were found to have been supplied with substandard control cables under falsified warranties from the local supplier JS Cable among others, while Kim was heading KHNP.

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