Prosecutors Conduct Search and Seizure at Chungbuk Free Economic Zone Authority Over Alleged Favoritism Toward Specific Company

Investigation into Allegations of Preferential Treatment for 'Anchor Companies'

Prosecutors have conducted a search and seizure operation at the Chungbuk Free Economic Zone Authority (Chungbuk Gyeongjacheong) in connection with allegations of preferential treatment given to a specific company.

[Image source=Yonhap News]

On the 7th, the Food and Drug Crime Investigation Division of the Seoul Western District Prosecutors' Office (Chief Prosecutor Park Hyang-cheol) announced that they had conducted a search and seizure the previous day at the office of the head of Chungbuk Gyeongjacheong and the Planning and Administration Department in Cheongju, Chungbuk.

The prosecutors are reportedly investigating allegations of preferential treatment toward Company A, which participates as an "anchor company" (a company playing a leading role in a specific industry or region) in the Chungbuk Advanced Regenerative Bio Global Innovation Zone project.

Chungbuk Gyeongjacheong is an institution under the Chungbuk Provincial Government established to support and foster economic development through development planning and investment attraction affairs within the Chungbuk Free Economic Zone.