The Daewoo dissolution and corruption scandal was a 1999–2006 scandal in South Korea involving the bankruptcy of Daewoo, then-country's second largest company, and a subsequent corruption investigation, involving arrests, escapes and eventual conviction of dozens of company's top executives.
Prior to the Asian financial crisis, Daewoo was the second largest conglomerate in Korea.
[1] Soon after the demise, South Korean prosecutors filed charges against over 40 top executives, in what BBC described as the Daewoo corruption scandal.
[3] This was related to the discovery that company's auditors concealed the amount of debt, and that bribes of about 470 billion won were involved (close to US$400 million).
[4] On 30 May 2006, Kim was sentenced to 10 years in prison after being convicted of fraud and embezzlement.