"economist" site state : Samsung Offices Raided by South Korean Prosecutors

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Samsung is sucked into South Korea's political crisis


Samsung is sucked into South Korea's political crisis
this image is quoting of "economist" site

- IT WAS the third raid on the Samsung group in as many weeks.On November 23rd state prosecutors combed more offices of the South Korean consumer-electronics firm, part of a probe into an influence-peddling case that could be the undoing of President Park Geun-hye's administration.The deepening inquest compounds a miserable few months for Samsung, which recently recalled 3m faulty washing machines and killed a new line of Galaxy Note phones after dozens exploded due to flawed batteries.Last week prosecutors accused Ms Park of conspiring to coerce 50-odd companies to funnel 80bn won ($70m) to two foundations, Mir and K-Sports, controlled by Choi Soon-sil, a confidante indicted for abuse of power.
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Samsung Offices Raided by South Korean Prosecutors


Samsung Offices Raided by South Korean Prosecutors
this image is quoting of "wsj" site

- SEOUL—Prosecutors on Wednesday raided the offices of the Samsung conglomerate as a scandal surrounding the country's president and her top advisers crept deeper into the nation's largest business group.Prosecutors conducted a daylong sweep of the Samsung headquarters in the Gangnam neighborhood of Seoul.At the same time, prosecutors raided the offices of South Korea's National Pension Service—the world's third largest, with about...
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Samsung Group, pension fund offices raided in growing South Korea scandal


Samsung Group, pension fund offices raided in growing South Korea scandal
this image is quoting of "cnbc" site

- Lee Young-ryeol, the senior prosecutor directing the probe, said on Sunday 53 conglomerates, "fearing direct and indirect drawbacks to business activities such as tax audits", were "coerced to contribute funds" to the foundations.Park Ju-gun, head of research firm CEO Score, said there was little surprise that prosecutors were now seeking evidence in Samsung Group offices about how the merger may have been influenced by the conglomerate's contributions to the foundations.The merger of the Samsung affiliates was approved by shareholders in July 2015 and prosecutors said the two foundations involved were set up in the following six months."This was expected.
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