Defense firm employee embezzles research service funds of KRW 2.9 billion

According to BAI, a defense firm employee is said to have embezzled KRW 2.9 billion by having his brother in law found a research service firm and overpaying the firm for research on defense programs, including KHP. The employee exploited the cost structure of defense programs where incurred research costs are reimbursed. BAI has recovered the embezzled funds from the employee who is currently in hiding after being fired from the defense firm.

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