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Korea Signs International Agreement for Bribery Prevention

Jan 04,1999
The government formally joined an international agreement for bribe prevention on January 4, the Ministry of Foreign Affairs and Trade announced.
To do so, the ministry signed and sent an act of ratification to an office of the Organization for Economic Cooperation and Development(OECD) today.
Accordingly, the Korean government will have to punish those who bribe foreign officials according to domestic criminal law and confiscate profits earned through bribery. The agreement will go into effect on February 15.
The Korean government will also have to provide judiciary cooperation for other countries which joined the agreement to investigate bribery in overseas markets.


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