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Issues To Consider From The KT Corp. Enforcement Action

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

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.

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

By 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

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:

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Scrutiny Alerts And Updates

By on May 8, 2020 in Herbalife, KT Corporation, Raytheon, Stericycle, World Acceptance Corp
scrutiny alert

This post highlights a new instance of Foreign Corrupt Practices Act scrutiny involving KT Corporation (a South Korean telephone company) and updates regarding long-standing FCPA scrutiny of Herbalife, World Acceptance Corp., Raytheon, and Stericyle.

KT Corporation

For several years, KT Corp (South Korea’s largest telecom company with shares traded on the New York Stock Exchange) has been under scrutiny by South Korean authorities for, among other things: donations to non-profit foundations at former President Park’s request; making certain donations or gifts to various lawmakers; and alleged improper hiring of college graduates.

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