Prosecutors raid Samsung Electronics in probe
Prosecutors from a special team investigating Samsung Group are raiding the headquarters of its flagship Samsung Electronics Co Ltd, media reported on Thursday.
SEOUL: Prosecutors from a special team investigating Samsung Group are raiding the headquarters of its flagship Samsung Electronics Co Ltd, media reported on Thursday.
"Prosecutors have come to the offices of Samsung Electronics," a company spokeswoman told Reuters, declining to give any further details.
According to local reports, prosecutors were looking into the company's support centre located in Suwon, south of Seoul. Prosecutors had previously searched several Samsung Group company offices and the group chairman's residences as part of a special probe into the country's top business group.
South Korea's parliament approved a probe in November after a former top Samsung legal executive accused the group of using its subsidiaries to create a slush fund and paying off public officials to avert investigations into its management practices. Samsung has called the allegations groundless. Shares of Samsung remained unchanged on news of the raid, rising 2.61 per cent to 589,000 won at 0520 GMT, in line with the broader market's 3.5 per cent rise.
"Prosecutors have come to the offices of Samsung Electronics," a company spokeswoman told Reuters, declining to give any further details.
According to local reports, prosecutors were looking into the company's support centre located in Suwon, south of Seoul. Prosecutors had previously searched several Samsung Group company offices and the group chairman's residences as part of a special probe into the country's top business group.
South Korea's parliament approved a probe in November after a former top Samsung legal executive accused the group of using its subsidiaries to create a slush fund and paying off public officials to avert investigations into its management practices. Samsung has called the allegations groundless. Shares of Samsung remained unchanged on news of the raid, rising 2.61 per cent to 589,000 won at 0520 GMT, in line with the broader market's 3.5 per cent rise.
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