Business · Companies · 2 hrs ago

LIG D&A challenges South Korea’s two-year defense bidding ban

LIG D&A challenges South Korea’s two-year defense bidding ban

LIG D&A is challenging a two-year ban on defense bidding imposed by South Korea’s Defense Acquisition Program Administration.

The company, formerly known as LIG Nex1, is fighting the restriction in court.

The case involves 500 million won paid to a public official, and raises the question of whether misconduct was an employee’s act or directed by the company.

A Seoul court heard the company’s request to pause the ban but did not issue a decision.

It asked both sides to provide more documents.

The ban is temporarily suspended until November 20, and the court is expected to decide whether to extend the suspension before then.

The case could affect LIG D&A’s future defense contracts and how companies are held responsible for employee misconduct.

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