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After years of whispers which ultimately turned to shouts of corruption, Lee Kun-hee, Chairman of Samsung and son of Samsung's founder, has resigned following an indictment on tax evasion charges. Lee said, "We, including myself, have caused troubles to the nation with the special probe. I deeply a...

April 22nd 2008 at 12:53am 0 Comments
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Lee Kun-hee, Samsung's 66 year old chairman and son of the company's founder, made a potentially damning announcement over the weekend. Following 11 hours of interrogation by prosecutors into allegations of bribery and maintaining a slush fund (among other improprieties), Lee said, "This is all due...

April 7th 2008 at 2:43am 0 Comments
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Oh noes. An independent investigation launched last week into an alleged multi-million-dollar slush fund has raided the homes of Samsung chairman, Lee Kun-Hee, and six other Samsung execs. The chairman and the executives are already banned from leaving the country. The investigation saw some 50 inve...

January 14th 2008 at 3:36am 0 Comments
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Samsung just can't catch a break these days. The sprawling company's securities division, Samsung Securities, got a surprise visit by some Seoul prosecutors Friday morning, who were after financial documents and hard drives. Samsung's cooperating fully, and continues to claim the allegations -- whic...

November 30th 2007 at 10:03am 0 Comments