South Korean prosecutors have charged former DSME CEO Nam Sang-tae with embezzlement and negligence of duty.

KBS World Radio reported the charges and said that the ex-yard boss refused to attend a court hearing on Wednesday.

He had been summoned to a prosecutors’ office on Monday and then arrested on Tuesday.

Nam was the company’s boss between 2006 and 2012.

He told reporters ahead of the Monday meeting: "I will fully cooperate with the investigation."

Korea’s