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IBM TO SET UP RESEARCH LAB IN KOREA DESPITE BRIBERY PROBE.
AsiaPulse News, January, 2004
SEOUL, Jan 9 Asia Pulse - South Korean Information and Communication Minister Chin Dae-je today said that IBM Corp. will set up its research laboratory in the country despite a current bribery probe into its local subsidiaries.
"When the bribery investigation is over, IBM says, it will proceed with the establishment of a research center," Chin told reporters in a press briefing.
"I have worried much about the investigation and asked the authorities to end the probe early," he added.
IBM Korea and its two units - LG IBM, a joint venture between IBM and South Korean LG Electronics Inc. (KSE:066570), and Winsol Co., a server seller - are being investigated by Korean prosecutors for giving bribes worth 66 billion won (US$55 million) to government and...
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