November 23, 2024 09:16 (IST)
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Samsung Heavy Industries Company Ltd agrees to pay $75 million in global penalties to resolve foreign bribery case

Samsung Heavy Industries Company Ltd agrees to pay $75 million in global penalties to resolve foreign bribery case

Washington/IBNS: Samsung Heavy Industries Company Limited (Samsung Heavy Industries), a South Korea-based engineering company that provides shipbuilding, offshore platform construction, and other construction and engineering services, has agreed to pay total penalties of more than $75 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of a scheme to pay millions of dollars in bribes to officials in Brazil.