KT Corp. Archives - FCPA Professor

Issues To Consider From The KT Corp. Enforcement Action

By Mike Koehler on February 28, 2022 in Charitable Contributions, Jurisdiction, KT Corp., KT Corporation, OECD

This recent post highlighted the $6.3 million Foreign Corrupt Practices Act enforcement action against KT Corp. – a South Korea based telecommunications company with American Depositary Shares registered with the SEC and traded on the New York Stock Exchange.

This post highlights additional issues to consider.

Proper?

In the FCPA’s modern era, much of the largeness of enforcement activity is from enforcement actions against foreign companies from peer OECD Convention countries.

The first corporate FCPA enforcement action of 2022 is another example.

South Korea’s KT Corp. Resolves $6.3 Million FCPA Enforcement Action

By Mike Koehler on February 18, 2022 in 2022 Enforcement Action, Charitable Contributions, Foreign Issuers, Internal Controls, KT Corp., KT Corporation, Political Contributions, SEC Enforcement Action, South Korea, Telecommunications Industry, Vietnam

KT Corporation is a Seoul, South Korea based telecommunications company with American Depositary Shares registered with the SEC and traded on the New York Stock Exchange.

Yesterday, the SEC announced that the company agreed to pay $6.3 million “to resolve charges that it violated the Foreign Corrupt Practices Act by providing improper payments for the benefit of government officials in Korea and Vietnam.”

In summary fashion, this administrative order finds:

Scrutiny Alerts and Updates

By Mike Koehler on May 8, 2017 in Amec Foster Wheeler, BRF, Cognizant Technology Solutions, Gol Intelligent Airlines, Graña y Montero S.A.A., Investigative Fees, KT Corp., Misonix, Offensive Use of FCPA, Related Civil Litigation, Societe Generale

Late April or early May is when foreign issuers tend to file Form 20-F’s with the SEC and as highlighted in this post several foreign issuers from Brazil, Peru, the U.K. and South Korea disclosed Foreign Corrupt Practices Act scrutiny.

But first, Cognizant Technology Solutions appears to continue to “boil the ocean” in terms of pre-enforcement action professional fees and expenses and Misonix is hit with a civil lawsuit connected to its FCPA scrutiny.

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Issues To Consider From The KT Corp. Enforcement Action

South Korea’s KT Corp. Resolves $6.3 Million FCPA Enforcement Action

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