Samsung Corruption Probe Rocks Korea
December 10, 2007 – 10:11 amby Darren
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Samsung is as Korean as apple pie is American. The company is ubiquitous in the country and the allegations of major endemic corruption have piqued the interest of the country.
Samsung’s influence surpasses the economic level and reaches out to influence politics, society, culture and even ideology,” said Kim Sang-jo, executive director of Solidarity for Economic Reform, which is calling for better corporate governance.
But according to a former top Samsung legal executive, it is a corrupt place where the company kept a slush fund of nearly $220 million to bribe public officials so they would not pry too deeply into its management practices.
Expect more news regarding this scandal in the coming weeks.
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