Ministry requests dismissal of Kogas CEO over bribe-taking

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Ministry requests dismissal of Kogas CEO over bribe-taking



The Ministry of Trade, Industry and Energy said on Thursday that it will request that Korea Gas Corp (Kogas) President and CEO Jang Seok-hyo be dismissed after he was indicted by prosecutors for alleged breach of trust and bribe taking.

The offenses were allegedly committed in his previous job as head of an LNG tanker tugboat firm.

The trade ministry said that Jang has betrayed the morality and integrity that is expected of the state-run company.

The trade ministry said that it requested the Ministry of Strategy and Finance hold a session of the committee of public institutions to decide Jang’s dismissal next week.

The move comes after the board of Kogas failed to pass Jang’s dismissal on Wednesday. The motion to dismiss Jang was one vote short as only four out of seven directors agreed to fire him.

Two board members later said they will retire from their positions following the vote on Jang.

Two weeks ago, the Incheon District Prosecutors’ Office said that Jang was suspected of taking 280 million won ($255,000) in bribes and committing 3.03 billion won worth of breach of trust.

Jang was named as the Kogas chief in July 2013, becoming the first insider to head the state-run gas company.
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