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South Korean officials raid Samsung, national pension fund offices
Officials on Wednesday raided the offices of the Samsung Group, over an alleged link to an influence-peddling scandal that has implicated the president.Prosecutors were also said to have raided the National Pension Service (NPS), the country's largest pension fund - and the third largest in the world.Watch video 01:40 Share South Koreans protest again to demand president's resignation Send Facebook Google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine Permalink http://dw.com/p/2SxBV South Koreans protest again to demand president's resignationPark and Choi are being investigated for allegedly pressuring major conglomerates, including Samsung, to donate to dubious non-profit organizations set up for personal gain.Choi has been indicted on a string of charges, including the abuse of authority and attempted fraud.
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Samsung offices raided as South Korean political scandal deepens
SEOUL, Nov. 23 (UPI) -- The Seoul offices of Samsung and South Korea's National Pension Service were raided by prosecutors Wednesday as a government corruption scandal grows.Samsung's Seoul headquarters was raided earlier this month in the corruption investigation of South Korean President Park Geun-hye, but Wednesday's raid was for information about a controversial merger last year between Samsung's construction subsidiary Samsung C&T and an affiliate business, Cheil Industries.Shareholders objected to the deal at the time, saying it would only benefit the family of Samsung Group owner Lee Kun-hee.The National Pension Service, a stockholder in both companies, approved the merger.
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Samsung offices raided in South Korean presidential graft scandal
South Korean investigators have raided the headquarters of industrial giant Samsung and the national pension fund as a part of a deepening corruption investigation into President Park Geun-hye and her links to a shamanistic adviser that threatens her administration.Investigators are seeking to discover whether Ms Park pressured the fund to support a merger in return for Samsung giving money to confidante Choi Soon-sil, who is accused of using her close relationship with Ms Park to obtain influence and funds.The scandal has led to increasingly loud calls for Ms Park's resignation, and has fuelled talk of impeachment, but the president insists the allegations are "imagination and conjecture".The raid is connected to the merger last year of Samsung's construction unit Samsung C&T and Cheil Industries.
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Samsung Group Raided by South Korean Authorities
Published By: Patrick Arruda on November 23, 2016 08:18 am ESTOffices of Samsung Group were raided by South Korean authorities on Wednesday due to rumored connections with Choi Soon-sil, who is President Geun-hye's confidant.The raid was a part of this corruption investigation.The tech giant is being accused of giving financial support to Choi Soon according to reports by Yonhap News.President Park Geun-hye was involved in an influence-peddling scandal.
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Samsung Raid Deepens South Korean Political Crisis
This transcript has been automatically generated and may not be 100% accurate.... the sterilizing reader deep into Wednesday as prosecutors raided the office of Samsung in the country's national interests of the US ... the rates of a possible investigation involving South Korean President Park going hey I'm that close associates prosecutors say in this spot Tuesday influence to extort money from corporations like Samsung ... prosecutors haven't disclosed why they have been reading this happened why you cannot open this for us ... the last time both of these ... interviews with the vehicles last year ... the National pension service of Korea is one of the world's largest pension services and has about ... four to sixteen billion dollars in assets ... and it holds ... a large percentage of a lot of South Korean companies that they ... think he found more than doubled last year merged to Samsung affiliates that was very important for the ... founding family of Samsung there's no ... allegation of no proof that on the books available to us ... to show that Samsung ... was able to get the government to be down to how ... the pension fund a vote in favor ... of the deal the ... pound and that's what ... the news agency here in South Korea has said it would also have been the leaders of a lot of sense of South Korea's biggest conglomerates including Samsung ... LGHyundai ask a lot of the best-known conglomerates here the heads of also brought in by prosecutors for questioning ... although the details of those meetings haven't disclosed either by the company has borne ... out ... by it by the prosecutors of the country's South Korea what it means is that at a time of economic challenge there are a couple of industries here shipbuilding shipping petrochemicals that are really struggling ... and that meets the eye the well and down the revitalized in some way I think what ... this really means for the country isn't that a lack of leadership and lack of vision that time and so when South Korea ... could really use that the crisis will probably get worse before it gets better The already been a lot of protests a lot of demonstrations on the streets of Seoul ... over the past few weekends but the biggest protest is being planned for this Saturday it doesn't appear that the current president and Hani ... aam is going to step down and and what that likely means is that impeachment hearings could go ahead ... aam but impeachment hearings are likely last for several months what that means is prowess is both in the private sector and in the public sector ... aam began to come in South Korea who really use some vision ... equally with its economy ... some some declined to comment on the possible reasons for the unannounced rage ... shares in Samsung fell about three point eight cents ...
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