Financial Times FT.com

Prosecutors raid Samsung unit’s offices

By Song Jung-a in Seoul

Published: November 30 2007 18:05 | Last updated: November 30 2007 18:05

South Korean state prosecutors on Friday stepped up their investigation into allegations of corruption at Samsung Group with a raid on the conglomerate’s brokerage unit.

Prosecutors are investigating claims made in November by Kim Yong-chul, a former lawyer for Samsung, that the country’s largest conglomerate created billions of dollars worth of slush funds and many Samsung affiliates were involved in illegal book-keeping to cover them up.

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