Bribery & Corruption: A Comparative Study between Malaysia, USA and South Korea

Abstract

Annually, losses represented from corruption amount to 5% of the global GDP, equivalent to US$2.6 trillion with bribes exceeding over US$1 trillion according to UNPRI (2016). This adds up to 10% of the cost of doing business globally and 25% of procurement contracts in developing countries. Infamous cases such as the 1MDB, Park Geun-hye scandal and the colossal Odebrecht scandal rocked the world, reflecting bold movements of unethical activities carried between public-private partnerships. Although these cases represent the tip of the iceberg, it has become critical to undertake stringent steps in monitoring such activities. Political theorists find corruption to be a rather difficult term to define due to the far-reaching impacts of perverting the rule of law and the infinite perspectives of nations. B&C practices have been present for generations and it is highly likely to be present in the future as well if critical measures are not taken. This research posits that each country has its own culture and way of doing things. Factors such as these add to the understanding of B&C practices and impacts within countries. Malaysia, USA and South Korea are three countries that have been selected to be analysed and compared using case laws. This research concludes that a strong leader with integrity can make a nation well governed.