South Korean businessman arrested in central Vietnam for alleged fraud

TN News

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Police in the central province of Ha Tinh Wednesday arrested a South Korean man who is wanted by police in his country for alleged fraud, local website Ha Tinh Online reported.

Her Hyunjae, 65, was arrested in a motel in Ha Tinh Town at around 11 p.m. 

According to police, Hyunjae is the director of VIKONEC, a construction company based in Hanoi.

In October 2009, he successfully persuaded a South Korean man named Kim to establish a joint venture to build a Hanoi-Hai Phong highway.

He convinced Kim that he would get the license for the project and asked Kim to transfer money for bidding into his bank account.

On October 27, 2009, Kim gave him US$420,000.

However, Hyunjae did not have a plan to win the contract, police said.

South Korea's Woolsan District Court issued a warrant of arrest against Hyunjae on October 21, 2010.

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