Korean Job Discussion Forums

[garykasparov]

20 named in Samsung slush-fund list

1> http://www.koreaherald.co.kr/
2> National
3> 20 named in Samsung slush-fund list

Prosecutors received Saturday a list of Samsung Group executives allegedly involved in slush funds from a former top counsel to the corporation.

Kim Yong-chul told reporters that the list included more than 20 executives. He didn't confirm whether they managed the secret funds, or if their bank and stock accounts were used in channeling the money.

"We are examining the list submitted by lawyer Kim. It is unclear what role they played," said prosecutor Kim Su-nam.

The prosecutors questioned Kim on Saturday as a witness. The investigation was triggered by Kim's claim that the conglomerate had amassed huge slush funds, and bribed officials, prosecutors and politicians.

Samsung Group denied the allegations.

The prosecutors yesterday continued to examine data at the computer center of Samsung Securities Co., the group's key financial arm.

On Friday, investigators raided Samsung Securities headquarters, its data center, and a Samsung SDS facility, which stores backup data.

"It takes a lot of time to download data," Kim told reporters. "We can't say when we will conclude our search of Samsung Securities."

Sources said investigators have to examine about 4.8 terabits of computer files from the securities firm.

By Song Sang-ho

([email protected])

2007.12.03

[CeleryMan]

OK... so what? OR rather... now what? Greasing politicians in this country is so yesterday. This country knows better than to go after "Daddy."

Remember that line in American Gangster ... "we need to keep this cash cow alive?" Well, "Daddy" is the cash cow and politicians have mortgages and liquor bills to pay without the wifey finding out ^^

[bassexpander]

Bah... they'll all be pardoned in 6 months if ever convicted anyway.

Why Koreans even bother attempting to get people in trouble -- especially from Samsung, the controller of their entire universe -- is beyond me.

Waste of time and resources.

Just let them go, and put them on the room salon blacklist for a year. Worst punishment that could ever befall a Korean business executive. They'd probably commit suicide within a month.

[kimcheechochy]

They'll be pardoned after one year anyways to help improve the "economy". Believe it or not, they did that in the past.