- Title: South Korea prosecutors raid Samsung Group offices, pension fund
- Date: 23rd November 2016
- Summary: SEOUL, SOUTH KOREA (FILE - OCTOBER 27, 2016) (REUTERS) EXTERIOR OF SAMSUNG ELECTRONICS BUILDING PEOPLE WALKING OUTSIDE OF BUILDING PEOPLE WALKING OUT OF BUILDING FLAGS OF SAMSUNG (LEFT AND RIGHT) AND SOUTH KOREAN NATIONAL FLAG (CENTRE) MORE OF SAMSUNG FLAG
- Embargoed: 8th December 2016 02:42
- Keywords: Samsung Seoul National Pension Service prosecutors raid politics
- Location: SEOUL, SOUTH KOREA
- City: SEOUL, SOUTH KOREA
- Country: South Korea
- Topics: Government/Politics
- Reuters ID: LVA00259NZ6TH
- Aspect Ratio: 16:9
- Story Text: South Korean prosecutors on Wednesday (November 23) raided the offices of Samsung Group, Yonhap news agency reported, over its alleged link with Choi Soon-sil, President Park Geun-hye's confidant who has been indicted in an influence-peddling scandal.
Prosecutors also raided the country's largest pension fund, National Pension Service (NPS), an NPS spokeswoman said. Yonhap reported that investigators were probing its decision to approve the $8 billion merger of Samsung C&T Corp and Cheil Industries last year.
A Samsung Group spokeswoman confirmed prosecution officials had visited the group's headquarters, but she could not provide further details. The NPS spokeswoman said the raids took place in the city of Jeonju, where the pension fund's headquarters are located, and in Seoul, but she declined to give details.
Prosecutors in Seoul could not be immediately reached for comment.
Park and Choi are under investigation for allegedly improperly pressuring major conglomerates including the Samsung Group, South Korea's largest family-run conglomerate, to raise funds for foundations that backed Park's policy of promoting the cultural and sports communities.
Choi and former presidential aide An Chong-bum were indicted on Sunday and charged with abuse of power, in a major blow to the president's fight for political survival.
NPS had stakes in both firms and its backing was seen as crucial to the success of the merger.
It has defended its decision in the face of criticism that the deal helped the Samsung Group owner family to cement control of the merged firm at the expense of other shareholders.
- Copyright Holder: FILE REUTERS (CAN SELL)
- Copyright Notice: (c) Copyright Thomson Reuters 2016. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None