Big surprise. Business ethics in Korea/China are almost non-existent.
Funny fact: Almost all Korean owned nail salons and dry cleaners tax evade. I get to look at many of their private statements... lets just say with their claimed income paying rent would not be possible but the amount is always paid. Usually they do this by not claiming all business done in cash.
Bribery is common place in those parts of the world really. I once knew a person working for twinnings' indian branch, and they've set up specific budgets for bribery (mostly to ensure their packages don't get lost in transit I'm sure)
What I find to be strange is that a US government agency is fining them for actions that may or may not be illegal in the countries in which they were committed. It seem to me that they should only be able to fine them if those things were done in the US..
[citation][nom]pelov[/nom]Yea, we have a name for that: Lobbying.[/citation]
Damn Straight. There's not as much money in an envelope style bribery in big business inside the US these days. Most of it is done by taking a consulting job with a company later on. Do enough for a company? Get a job later on for a few years being paid to do nothing. Hell, I bet they even write up your reports for the IRS.
Re. Alyon's comment ("Big surprise. Business ethics in ...China are almost non-existent"), absolutely true. Chinese business is *FOUNDED* on a culture of instant/selfish gain (rather than long-term/cooperative benefit). "Relationship! Relationship!" I'm sick of hearing it. We're owed forty-thousand dollars. Once labor in China ceases to be "free," and external costs (like *&%^% on the earth) become realized, China may remain a great market, but it will become a crappy producer as the "true cost" of cockamamie Chinese business practices are realized.
i guess the SEC doesn't understand how the rest of the world works, look at what america had to do in iraq, afganista and pakistan just to go in and do something that needed to be done. 660million a year total