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Four major South Korean electrical companies indicted over Kepco bid-rigging scheme

By Jenny Lee ( January 20, 2026, 06:12 GMT | Insight) -- Hyosung Heavy Industries, LS Electric, HD Hyundai Electric and Iljin Electric have been swept into a criminal trial in South Korea after prosecutors accused the companies and smaller rivals of orchestrating a long-running bid-rigging scheme tied to procurements by Korea Electric Power Corp. worth 677.6 billion won ($458.8 million).Hyosung Heavy Industries, LS Electric, HD Hyundai Electric and Iljin Electric have been swept into a criminal trial in South Korea after prosecutors accused the companies and smaller rivals of orchestrating a long-running bid-rigging scheme tied to procurements by Korea Electric Power Corp., or Kepco, worth 677.6 billion won ($458.8 million)....

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