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Samsung Chair Grilled by Prosecutors in Corruption Probe

Apr 7th, 2008 • Posted in: News

Lee Kun-Hee says he is “ashamed” and will abide by decision of prosecutors, but is not specific about allegations

SEOUL
The head of South Korea’s largest business empire last week said he was “ashamed” and would abide by the results of a high-profile probe into corruption allegations at Samsung.

Lee Kun-Hee made the remarks after emerging from an 11-hour interrogation at a special prosecutor’s office over the weekend, the Agence France-Presse reports.

“I will humbly accept the results of the special probe and do my best not to let this kind of things [sic] happen again,” he said, according to the report.

The Seoul-based Korea Times reports that Lee was not specific about the allegations for which he was willing to take responsibility.

According to South Korean paper Dong-a Ilbo (East Asia Times), investigators are probing charges that Lee was involved in the creation of slush funds, illicit lobbies, and an illegal transfer of managerial control to his son.

Prosecutors have raided several of Samsung’s buildings during the probe, reports UPI.

Ethics questions related to Samsung resonate with a special intensity in South Korea, where businesses and their leaders are often revered.

And, as the Seoul-based Yonhap News agency notes, Samsung’s affairs have a

huge impact on the nation’s economy: The firm is responsible for nearly a

quarter of South Korea’s gross domestic product and a quarter of its total exports.

Sources: Korea Times, Apr. 5 — Dong-a Ilbo (East Asia Times), Apr. 5 — UPI, Apr. 5 — AFP, Apr. 5 — Yonhap News Agency, Apr. 3.

For more information, see: Related Newsline story, Mar. 10 — Related Newsline story, Jan. 22 — Related Newsline story, Dec. 10, 2007 — Related Newsline story, Nov. 26, 2007 — Related Newsline story, Nov. 13, 2007.

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