A former CEO of Korean shipbuilder DSME has appeared at a state prosecutors’ office in connection with an accounting fraud inquiry.

Nam Sang-tae, 66, had been summoned on Monday in Seoul, the Yonhap news agency.

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

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

Korea’s state auditor has said it has uncovered $1.27bn