韩国DAPA对LIG D&A处以24个月最高档投标禁令，涉行贿4.6亿韩元，消息后股价已暴跌约14%

LIG Defense & Aerospace (LIG D&A) faces disruptions to its new defense projects after South Korea's Defense Acquisition Program Administration (DAPA) decided to bar the company from bidding on defense contracts for two years.
The sanction concerns one of six cases involving alleged collusion between LIG D&A and DAPA officials investigated by prosecutors.
DAPA's contract review committee voted on Oct. 20 to impose a 24-month bidding ban on LIG D&A, the maximum penalty permitted under current law.
Although some had suggested that the company might face a financial penalty instead, the decision followed DAPA's previous practice. Since its establishment in 2006, the agency has imposed bidding restrictions in all 27 bribery-related sanctions.
The decision follows an August announcement by prosecutors that LIG D&A had provided money and other benefits to key DAPA officials in connection with six projects, including those involving the Korea Research Institute for Defense Technology Planning and Advancement.
Prosecutors determined that the company had provided bribes and other benefits worth approximately 460 million won.
DAPA cited several factors in imposing the maximum penalty, including the largest bribery amount recorded since the agency's establishment, deliberate misconduct involving cost irregularities over an extended period, and the adverse impact of bribery and cost-related wrongdoing on national security and public trust in defense procurement.
"Illegal acts that undermine transparency and fairness, including bribery and cost-related fraud, can never be tolerated in defense procurement, which is responsible for national security," said Kim Il-dong, vice minister of DAPA.
"Through the highest level of sanctions, we will raise awareness across the defense industry and continue applying a zero-tolerance policy to corruption in defense procurement."
The decision has raised concerns about its potential impact on the defense industry.
The bribery case is still undergoing its first trial, and LIG D&A has directly challenged the prosecutors' findings. Nevertheless, the sanctions are expected to affect projects including the KF-21 long-range air-to-air guided missile program.
In that program, led by the Agency for Defense Development (ADD), LIG D&A ranked first in proposal evaluations for five prototype development areas, including system integration and seekers.
LIG D&A specializes in precision-guided weapons. If the situation persists, disruptions to military deployment schedules and exports could negatively affect its financial performance.
The company also faces the possibility of additional sanctions as other cases involving alleged collusion with DAPA officials remain unresolved.
LIG D&A is expected to pursue legal action, including a lawsuit seeking to overturn the sanctions and an application to suspend their enforcement.
The company recently reorganized its management, replacing four of its seven business division heads. It also established a compliance audit office to strengthen internal controls and its compliance management system.