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S Korean prosecutors raid Samsung Group headquarters
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14:48, January 15, 2008

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South Korean prosecutors and investigators raided the headquarters of Samsung Group on Tuesday to collect evidence about bribery allegation and illegal transfer of its affiliate company's ownership.

Dozens of prosecutors from an independent counsel team searched and seized documents and other materials related to the allegations in the strategic planning office in Samsung's headquarters in downtown Seoul, local reports said.

The search was conducted one day after an unprecedented raid of the private residence of Samsung Group Chairman Lee Kun-hee.

Samsung was accused with allegations that it has regularly bribed prosecutors, the media and government officials.

South Korea's Yonhap News Agency said the accusation may even involve outgoing President Roh Moo-hyun. Officials from Roh's camp were accused of taking congratulatory money from Samsung just after his election in late 2002.

Samsung was also accused with illegal transfer of the ownership of Everland -- Samsung's de facto holding company -- from the chairman to his son Lee Jae-yong.

Samsung group now has 58 affiliates, including Samsung Electronics Co., the world's biggest memory chip maker, and Samsung Heavy Industries, the world's No. 2 shipbuilder. The group accounts for nearly a quarter of South Korea's exports and gross national product.

Source:Xinhua



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