Connect with us


S’Korean police raid Samsung offices



S'Korean police raid Samsung offices

The ongoing investigation against South Korea’s president Park Geun-hye and her involvement in extorting money from major corporations has led prosecutors to raid Samsung Group’s corporate offices in Seoul.

The raid took place alongside another at the national pension fund, which according to a local report from the Yonhap News Agency, may have been pressured into supporting a controversial Samsung merger in 2015.

Read also: Cuba’s Fidel Castro dies at age 90

The fund’s approval is regarded as vital to the merger’s success and a surprising move at the time, due to allegations it benefitted the Samsung Group’s controlling family more than the shareholders.

President Park has been accused of assisting in an extortion scheme with unofficial presidential aide Choi Soon-sil. More than 50 businesses were allegedly pressured to make donations potentially worth $69 million to sporting foundations backed by Choi, which were set up following the Samsung merger, then used for personal financial gain and in exchange for as-yet unknown deals.

RipplesNigeria ….without borders, without fears

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now