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Samsung Group Offices Raided By Korean Prosecutors (reuters.com)
An anonymous reader quotes a report from Reuters: South Korean prosecutors raided the offices of Samsung Group on Wednesday, a prosecution official said, after media reports of alleged links with a confidante of President Park Geun-hye who has been indicted in an influence-peddling scandal. Prosecutors also raided South Korea's largest pension fund, the National Pension Service (NPS), an NPS spokeswoman said. The Yonhap news agency reported that investigators were probing NPS's decision to approve the $8 billion merger of Samsung CT Corp and Cheil Industries last year. The raids signaled that prosecutors are expanding their investigation into allegations of influence-peddling in the corruption scandal that has rocked Park's presidency over the relationship between the government and big businesses. NPS, the world's third-largest pension fund, has come under scrutiny by the media and civic groups over its approval as a major shareholder of the merger between two affiliates of Samsung Group, South Korea's largest family-run conglomerate. Its backing was seen as crucial to the success of the merger and some South Korean media reports said its approval came under mysterious circumstances. Prosecutors raided four locations -- the NPS headquarters, NPS Investment Management office headquarters, Samsung Group offices and the office of a former NPS investment management official -- said a prosecution official who was not authorized to speak to the media and declined to be identified. Park and her confidante, Choi Soon-sil, are under investigation for allegedly improperly pressuring major conglomerates, including the Samsung Group, to raise funds for foundations that backed Park's policy of promoting the cultural and sports communities.
to avoid being caught alive, Samsung CEO turned on his Samsung Note Galaxy 7 he kept under his desk. The blast killed the CEO and injuried two policemen.
Unfortunately, mysterious fires at the prosecution offices destroyed the documents.
Schroedinger's Brexit: The UK is both in and out of the EU at the same time!
Dirty men.
Since the end of the Korean War (and probably before) Korea has been one of the most corrupt countries on Earth, that's one of the reasons they have Chaebols.
Now, all of a sudden Koreans are worrying about their elites paying each other off for favours? It's hardly a new thing and no-one important has been prosecuted over these sorts of deals before.
I wonder what has changed?
You mean the company whose offices were raided less than a decade ago because the previous CEO was maintaining a slush fund to pay off government officials is embroiled in a fresh scandal involving the company currying illegal favor with government officials? Surely not! I thought they had left all of that behind after they allegedly bribed government officials so that the previous CEO's son could become the current CEO without the government asking any questions about the son's level of involvement in the previously mentioned crimes!
So yeah, I'm very surprised at this turn of events. Definitely didn't see it coming.
If you want to avoid shame, don't do shameful things. -- Daily Nugget of Eastern Wisdom
And Samsung had better create a permanent firemen division - after all, they are constantly attempting to put out fires.
This is "conspiracy plot"-level of hypothesis, but maybe is this remotely linked to Huawei desire to get a bigger part of the smartphone pie and wanting to be more present?
Sure, Samsung get more publicity around their note 7 than any other exploding lithium battery, now the usual corruption scandal suddenly starting to surface the media more prominently...
This bad publicity, among other, surely serves Huawei's goals.
Might simply be simply happy coincidences. Might be some influencial chinese people pulling a few strings.
"Sufficiently advanced satire is indistinguishable from reality." - [Tips: 1DrYakQDKCQ6y52z6QbnkxHXAocMZJE61o ]