Samsung offices raided over influence-peddling scandal - News Summed Up

Samsung offices raided over influence-peddling scandal


A Samsung spokesman confirmed the visit by prosecutors but declined to elaborate. It was criticised by many who said it wilfully undervalued Samsung C&T's stocks, but Seoul's National Pension Service (NPS) -- a major Samsung shareholder -- voted in favour of the deal, which eventually went through. Prosecutors also raided several NPS offices on Wednesday, a NPS spokeswoman said. Samsung -- South Korea's biggest business group -- donated 20 billion won ($17 million) to Choi's foundations, making it the largest single contributor. It is separately accused of offering Choi 2.8 million euros ($3 million) to bankroll her daughter's equestrian training in Germany, which led prosecutors to raid Samsung Electronics' offices in Seoul this month.


Source: The Nation Bangkok November 23, 2016 04:10 UTC



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