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SEOUL: South Korean prosecutors raided a state-run oil and gas supplier on Thursday as part of a widening probe into alleged corruption at government entities, officials said.
"About 30 investigators have ransacked our headquarters since they came here before the start of today's business," Korea National Oil Corp. spokesman Kim Ho-Sun told AFP.
He gave no details. Yonhap news agency said some executives are alleged to have accepted kickbacks from foreign oilfield development projects.
The raid is part of a broader investigation into around 20 state firms and organisations over their alleged misuse of funds.
Prosecutors this week raided the offices of the Korea Asset Management Corporation (KAMCO) and the Korea Exchange, which operates the stock market. A KAMCO official was arrested Wednesday on bribery charges.
Media reports say some exchange officials are suspected of receiving bribes from companies going public and also of profiting from inside information.
The JoongAng Daily said prosecutors are also investigating excessive spending including 1.05 billion won (1.04 million US dollars) for golfing with clients from early 2006 to September last year.
Conservative President Lee Myung-Bak has promised to streamline public agencies and has reshuffled top posts at state corporations.
Opposition parties say the reshuffle is merely aimed at replacing those appointed by Lee's liberal predecessor Roh Moo-Hyun. - AFP/ac
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