Arms procurement agency accused of overpaying oil firms

The Korea Times Thursday 23rd August, 2012

Korea's arms procurement agency made a series of errors in its contract for oil used for military purposes and wasted more than 82 billion won ($72.4 million) of taxpayers' money, the state auditor said Friday. The Defense Acquisition Program Administration (DAPA) failed to abide by the finance ministry's relevant regulations and took into consideration opinions of the country's four major oil refineries in calculating the basic cost of oil wh...

Read the full story at The Korea Times

Source: http://www.southkoreanews.net/index.php?sid/208568694/scat/3f5c98640a497b43

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