Samsung offices raided (again) as part of corruption investigation linked to SK president

[Perrine]

[quote]South Korean authorities have raided the offices of Samsung and the national pension fund as part of a corruption investigation linked to the president.

They are probing whether Park Geun-hye pressured the fund to support a Samsung merger, said the Yonhap news agency.

In return, Samsung is alleged to have given financial favours to Ms Park's confidante Choi Soon-sil, Yonhap said.

The scandal has led to growing calls for Ms Park's resignation, but she has said the allegations are "fantasy".

Ms Choi, who has been charged with coercion and attempted fraud, is accused of using her close relationship with Ms Park to obtain favours and funds for her own gain.

Earlier this week prosecutors said Ms Park had a "considerable" role in the scandal.

The allegations have enraged the South Korean public, and caused Ms Park's approval ratings to plummet. However, she has resisted the calls for her to resign and has yet to agree to be questioned by investigators.

Her spokesman rejected the prosecutors' case as speculation built on "a house of fantasy".

Samsung's offices had already been raided over related allegations.

Wednesday's raid had to do with a merger last year between the electronics giant's construction arm, Samsung C&T, and an affiliate firm, Cheil Industries.

The deal went through despite significant opposition from shareholders, who said it would hurt minority shareholders while benefiting the family of Samsung's group owner Lee Kun-hee.

South Korea's National Pension Service (NPS), which owns stakes in both companies, sealed the deal by voting in favour of it.

Prosecutors allege that Samsung gave €2.8m euros ($3.1m;£2.5m) to a company co-owned by Ms Choi and her daughter, in return for Ms Park's support for the deal.

Samsung was also among several conglomerates that gave millions of dollars to two non-profit foundations owned by Ms Choi, after the latter allegedly pressured them for donations.

Samsung and the pension fund confirmed the raids without giving further details.[/quote]
[url]http://www.bbc.co.uk/news/amp/38074082[/url]

they can't catch a break

[Map in a box]

geezus

[Hollywood SN]

South Korea and Samsung are both getting fucked so hard it'd be banned in the UK.