KRG Rejects Korean Corruption Claims

By John Lee.

The Kurdistan Regional Government (KRG) has completely rejected what it calls "the false and malicious allegations of misuse of funds made against the KRG and the Minister of Natural Resources" by an opposition MP in the Republic of South Korea and which were published by the Korea Times.

Korean MP Chun Soon-ok claims that $31.4 million (36.6 billion Iraqi dinars), given as a signature bonus by the Korea National Oil Corporation (KNOC), disappeared after the KNOC sent it in 2008 to HSBC in London to an account given by KRG minister Ashti Hawrami.

The KRG says that KNOC paid a total of $235,500,000 (which included the $31.4 million amount referred to by the Korean MP) to the KRG as part of its contractual obligations under the PSCs, and that this money was paid into the KRG’s account in HSBC in London.

"This money and the whole amount referred to above is fully accounted for in the KRG’s accounts, and has been spent by the KRG in the normal course of government business," the KRG added in a statement.

(Sources: Korea Times, KRG)

(Corruption image via Shutterstock)