A Seoul district court has acquitted KT&G Chief Executive Officer Baek Bok-in of bribery charges, saying testimony by the person who made the accusation lacked credibility, Yonhap News Agency reported.

Baek was accused of taking bribes valued at USD 47,000 from a lobbyist in return for a deal struck with an advertising agency, the news agency said. The head of the country’s leading cigarette maker was also acquitted of helping a witness in a bribery case involving his predecessor to flee the country, Yonhap said. Former KT&G chief Min Young-jin was found not guilty in the earlier case, a verdict that has been appealed, according to Yonhap.