South Korea launches bribery investigation of Samsung

Posted: November 16, 2007 in Tech

Kim Yong-chul, a former top Samsung legal affairs official, has named prosecutors that he said received bribes from Samsung Group in return for squashing investigations.

Samsung has denied the charges. In a statement it said the list of names was false and called the accusations “ill-willed and absurd slander”.  Samsung Group issued a 25-page rebuttal rejecting all of Kim’s accusations.

South Korean political parties have been pushing for a separate counsel over the allegations that Samsung has regularly fed bribes to an extensive number of officials, investigators, lawmakers and journalists to secure favors.

The Samsung Group is South Korea’s largest conglomerate and a global multinational corporation leading several major industries. It is composed of numerous businesses, including Samsung Electronics, the world’s largest electronics company, a global brand and the world’s top maker of LCD screens and memory chips.

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