Favors to defense firms cause big budget waste in South Korea

The military and related public agencies have provided a range of favors to defense companies and failed to properly manage them, leading to pervasive corruption and a huge waste of budget, the state auditor said Tuesday
Announcing the results of a three-month probe from May, the Board of Audit and Inspection (BAI) said the authorities designated defense goods without proper demand analysis and gave preferences to large defense companies for their production, which led to a waste of more than 600 billion won (US$544.9 million) in taxpayer money over the past several years.