Chung Joon-yang, former POSCO Group chairman, appeared at the prosecutors' office on Thursday as a suspect in POSCO’s alleged corruption cases.
He is charged with having involved in taking over local electrical service company Sung Jin Geotec at a price twice higher than the market price in 2010.
The prosecution is to probe into whether Chun was involved in giving preference to POSCOS' subsidiary, Dongyang Construction. He is said to cause damage to the group at a few trillion won by forcedly pushing ahead with dozens of mergers during his tenure.
The prosecution started investigating POSCO in March by raiding the company with search warrant.
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