<p>The US Securities & Exchanges Commission alleged employees of IBM Korea and a local joint venture with LG Electronics paid around $207,000 in bribes to South Korean government officials.<br /><br />The violations of Foreign Corrupt Practices Act took place between 1998 through 2009, SEC said. The two sides, however, settled with IBM paying a civil penalty of $2 million plus $8 million in other payments. IBM did not admit or deny the allegations.</p>
<p>The US Securities & Exchanges Commission alleged employees of IBM Korea and a local joint venture with LG Electronics paid around $207,000 in bribes to South Korean government officials.<br /><br />The violations of Foreign Corrupt Practices Act took place between 1998 through 2009, SEC said. The two sides, however, settled with IBM paying a civil penalty of $2 million plus $8 million in other payments. IBM did not admit or deny the allegations.</p>