Vietnam yet to receive official information on Posco corruption case Deputy Transport Minister Nguyen Hong Truong said on April 3 the government had yet to receive any official information about an alleged Posco corruption case from South Korean government. POSCO subcontractors accused of inflating expressways costs in Vietnam  News reports in South Korea said prosecutors raided the office of three subcontractors of the steel giant Posco Group in connection with an investigation into allegations the company had created a secret fund of KRW10bn in Vietnam by cooperating with local subcontractors to inflate the costs of expressways constructions from 2009 to 2012. The group said it detected the fund on its own and that the money was used as kickbacks to Vietnamese contractors. Prosecutors are investigating whether the whole group was involved and that some of the funds had been transferred back to South Korea. Prosecutors have banned a former chairman of Posco and several other officials from leaving the country during the investigation. POSCO had been cooperating with Vietnam Expressway Corporation in various projects. They were both given warnings for stagnant projects and weak capability. Truong said Posco won contracts legally under supervision of the Asia Development Bank (ADB). "The ministry does not interfere in how the contractors and subcontractors pay each other," Truong said. "Vietnam Expressway Corporation pays the sum under approval of ADB."        By Chau Nhu Quynh, dtinews.vn