Korean Firms Score Poorly on Bribery Index

      November 03, 2011 13:39

      Russian and Chinese companies pay the biggest bribes when doing overseas business, according to a survey, but Korean businesses are not much better. The 2011 Bribe Payers Index released by Transparency International on Wednesday puts Korea 13th out of 28 countries, with a score of 7.9 points out of 10.

      Russia ranks 28th and last with 6.1 points, just below China with 6.5 points.

      The BPI is a quantified measure of the likelihood of companies from a certain country paying bribes to local authorities when doing business abroad. A higher score means a lower likelihood of paying bribes. The scores were drawn from surveys of 3,016 business executives in major global companies.

      Korea moved up one notch from 14th out of 22 in the previous survey in 2008. But among the 15 OECD member states, it still ranks a poor 12th.

      Companies from countries where bribery is rampant are more likely to think bribery is expected abroad as well, the BBC reported citing a spokesman for the Berlin-based private watchdog. Bribery of government officials is a serious problem in Russia and China.

      Many developing countries performed badly in this survey, with India in 19th, Argentina in 23rd, Indonesia in 25th, and Mexico in 26th. The Netherlands and Switzerland shared the top spot with 8.8 points, followed by Belgium in third place, and Germany and Japan sharing fourth place. The U.S. ranked 10th.

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