LIG Defense & Aerospace CEO国会听证否认行贿，但DAPA 24个月投标禁令10月29日生效的实质利空此前已披露并被市场消化

Shin Ik-hyun, chief executive of LIG Defense & Aerospace (LIG D&A), flatly denied allegations that the company bribed officials at the Defense Acquisition Program Administration (DAPA), appearing before a parliamentary audit on the 26th.
Testifying as a witness at the comprehensive audit of the National Assembly's National Defense Committee, Shin responded to questioning from Rep. Cheon Ha-ram of the Reform Party by saying it was "structurally impossible for the company to come up with the 300 million won or so" in alleged bribes.
Prosecutors earlier indicted those involved on charges that a DAPA official received money and valuables between 2021 and 2025 in return for favorably scoring LIG D&A during proposal evaluations for six defense projects worth a combined 91.5 billion won. The amount cited in the bribery charge is 320 million won, rising to 460 million won when separate charges related to the selection of subcontractors are included.
Prosecutors concluded that LIG D&A raised the funds by increasing contract payments to a subcontractor and then handed the money, along with requests for favors, to the DAPA official involved in bid evaluations. The official and the subcontractor's chief executive have admitted the allegations, while two LIG D&A executives implicated in the case maintain their innocence.
Cheon noted that Shin served as vice president and division head at LIG D&A at the time of the alleged offenses, and pressed him on whether he was unaware of how such a large sum was raised within the company. Shin said he has never been directly investigated in connection with the case.
Cheon also pointed out that while LIG D&A has explained the two increases in subcontractor payments — which prosecutors view as the channel for raising the bribe money — as a request from the military, DAPA has denied making any such request. "Who is lying?" he asked. Shin said it was true that the military had made a request, and disputed DAPA's denial, saying it "differs from what I was briefed on."
When Rep. Yoo Yong-won of the People Power Party asked about moral responsibility, however, Shin said he takes "this unsavory incident very seriously and, as chief executive, feels the weight of responsibility." On measures to prevent a recurrence, he said the company "formed a task force internally when the indictment came down and reviewed the entire process," adding that it had strengthened its compliance framework with the help of a global law firm and reinforced internal controls by creating a compliance audit office.
DAPA convened its defense procurement contract review committee on the 20th and voted to bar LIG D&A from bidding for 24 months, the maximum penalty under the Act on Contracts to Which the State Is a Party. The measure is set to take effect on the 29th, and LIG D&A has signaled legal action including a request to suspend enforcement of the penalty and a lawsuit seeking its cancellation.