Seoul Court Releases CEOs Tied to Local Projects

23 August 2012
The Cambodia Daily
Aid and development / Bilateral development assistance / Development Assistance Committee (DAC) members / Economy and commerce / Investment / Siem Reap / South Korean aid
Cambodia's airports / CamKo / development projects / financial scandal / Lee Sang-ho / Lee Tae-hwan CEO of NSRIA Co. Ltd. / Lee Taehwan / NSRIA Co Ltd / satellite city / satellite city project / Siem Reap airport project / South Korean aid / World City Co Ltd

The chief executives of two companies behind major developments in Cambodia-who were jailed in Seoul in February for their part in a major South Korean financial scandal-have been partially cleared and released, according to a court official. Lee Sang-ho - the CEO of World City Co. Ltd., which is building the stalled CamKo satellite city project in Phnom Penh, and Lee Taehwan-chief of NSRIA Co. Ltd., the company that announced a billion dollar airport project for Siem Reap that never broke ground-were given five and seven years, respectively, in February. ... Oh Yong-kyu, an information officer at Seoul High Court, said in an email yesterday that in an appeal hearing on Friday, the court delivered an innocent verdict for both men for their charges of malfeasance. ...