The employee, who ABB has not identified, is suspected of forging documents and working with individuals outside the company to steal the money, according to ABB and South Korean police.
A police spokesman said that the suspect is believed to have fled to Hong Kong and that they are working with Interpol to bring him back to South Korea.
The embezzlement and misappropriation of funds is limited to South Korea, where ABB employs about 800 staff, the company said. Other people could still come under investigation.
