Police raid POSCO in corruption probe

By Park Si-soo

Police raided POSCO's steel mill in Pohang on Tuesday in an investigation into a corruption scandal allegedly involving company officials.

About ten investigators from Gyeongbuk Provincial Police Agency searched an office at the steel mill for two hours from 9 a.m. and confiscated computer files and documents.

Neither police nor the company gave details of what the investigation was about, but reports said the probe was into allegedly collusive ties between POSCO officials and suppliers.

Police issued subpoenas to question three POSCO officials.

“We have no idea of what the investigation was for,” a POCSO spokesman said.