http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/ Engadget Comments for Samsung's slush fund valued at $216 million, says former legal executive http://www.engadget.com/media/feedlogo.gif http://www.engadget.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
WOW. Bet you didnt know that Apple controlling 20% of USA's GDP. ]]>Nov 26th 2007 5:10AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/Nov 26th 2007 5:15AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/Nov 26th 2007 12:28PMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
BTW Yung-chul Kim was sacked because (allegedly) he was incompetent. Samsung, if my Korean is up to scratch, offers all former employees an opportunity of one year, paid, to look for other employment (basically a bribe for you to shut up and correct me if I'm wrong). Apparently, YCK, because he was incompetent, did not r/c any of this benefit. Thus like a greedy/angry man, he comes out with this 'explosive' claim. ]]>Nov 26th 2007 6:53AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
Actually Reuters state "...about one-sixth of the country's gross domestic product..", which is closer to 15%.
You're doing nothing more than glorified copy/pasting here. You could at least get that right.]]>Nov 26th 2007 6:57AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
http://english.chosun.com/w21data/html/news/200706/200706290023.html

Nevertheless, i've softened it to read "nearly 20%." If you find me an official number, then I'll update again.

Thomas]]>Nov 26th 2007 8:12AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
I don't have "better" or official numbers, although I remember having read 17% more than once. Incidentally, googling "Samsung Korean GDP" will return this very page ranked as 4th. Creepy.]]>Nov 26th 2007 8:30AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/Nov 26th 2007 11:58AMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/
What makes the current Samsung scandal unique though is that the Lee family, which controls Samsung, has been actively stealing from the company to 1) purchase expensive art works (e.g. "Happy Tears" by Roy Lichtenstein), 2) funnel illegal campaign funds to candidates of the Lee family's personal likings (i.e. the conservative Hannara Party), 3) illegally transfer ownership of controlling shares from Lee to Lee's son without paying taxes, and 4) bullied banks (one is Woori Finance Holdings - NYSE: WF) into handing over details of financial transactions made by Samsung employees to and from their personal accounts who were thought to be trying to form a union - a clear violation of privacy laws.

(Lee family owns less than 5% of Samsung. Funds siphoned by the Lees from Samsung Electronics alone is thought to be greater than $10 billion, which means that the Lees stole at least $9.7 billion from outside shareholders.)

It should be noted that while other Korean conglomerates such as LG and Hyundai have been known to provide illegal campaign fundings, they always did it to gain land government contracts or lobby for favorable changes in regulation, not to move the country in political direction of the founding families' likings.]]>Nov 26th 2007 1:47PMhttp://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/http://www.engadget.com/2007/11/26/samsungs-slush-fund-valued-at-216-million-says-former-legal-e/Nov 26th 2007 7:39PM