Houthis seize loan provided by South Korea to Yemen

3 years ago
Houthis seize loan provided by South Korea to Yemen

Documents and reports revealed a series of corruption cases involving the Houthi leaders, which resulted in the seizure of millions of dollars allocated to development and service projects, including an amount of $8.1 million from a loan provided by South Korea to Yemen.

The documents issued by the report of the "Central Organization for Control and Accountability" which under the control of the Houthis, for the month of February 2022 included the results of reviewing the financial actions arising from the implementation of the contract of the Korean company "ID" to supply equipment and supplies, fellowship training and dispatching experts to the project of the Yemeni-Korean Higher Technical Institute funded by the Korean loan.

The damage amounted to $8,170,895, in which five Houthi leaders involved.


A document issued by the "Central Organization for Control and Accountability" in Sana'a, which is under the control of the Houthi militia, revealed a major corruption case represented in the seizure by their officials and field leaders of the assets of foreign oil companies recovered during the period 2015-2020.

The report issued for the month of February 2022, on the results of reviewing the procedures for receiving and disposing of some oil companies’ assets by the Ministry of Oil and Minerals, and the extent of conflicts between the Houthi senior leadership and the presence of major imbalances and abuses in the procedures for receiving and disbursing cars, generators and furniture, as some assets were directly disbursed at sites Companies to entities or persons without completing the import procedures and registering in the records, in a picture that reflects the extent of corruption carried out by the Houthi leadership


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