'Four Major Rivers Project' was ill-conceived: BAI

State auditors have criticized former President Lee Myung-bak's 'Four Major Rivers Project' as ill-conceived and tarnished by shoddy construction work and environmental damage.

In a report revealed on Wednesday, the Board of Audit and Inspections (BAI) said Lee's 22.2 trillion-won ($19.5 billion) project was marred by bid rigging and increased costs.

Lee was forced to abandon his original plan of a nationwide canal building project, linking Seoul with the country's largest port city of Busan, following harsh public criticism.

The government instead pursued the Four Major Rivers Project and asked the land ministry to take into account the aborted canal project, which led to increased costs and environmental damage.