22 execs indicted for price-fixing in 4-river project

A total of 22 incumbent and former executives of 11 construction companies were indicted Tuesday on charges of colluding and rigging prices for contracts in the Lee Myung-bak administration's controversial four-river refurbishment project.

Those indicted include executives of the country's top six builders - Hyundai Engineering and Construction, Samsung C&T, Daewoo E&C, Daelim Industrial, GS E&C and SK E&C.

The executives, who were indicted without physical detention, include Kim Jung-kyum, former president of Hyundai Engineering and Construction, and Seo Jong-wook, former president of Daewoo E&C.

They were accused of colluding to clinch bids and committing irregularities while participating in bidding for the 3.8 trillion won project, thus wasting taxpayers' money.

Lee, predecessor of President Park Geun-hye, pushed for the project to refurbish the Han, Nakdong, Yeongsan and Geum rivers, despite protests from environmental groups and opposition parties which were concerned about possible environmental destruction.

AJP