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Samsung resignations spark rioting, photo burning


Think you're a fanboy? Supporters of the Samsung Group gathered for a rally during a press conference held by Kim Yong-chul, a lawyer calling for punishments to be handed out to disgraced company CEO Lee Kun-hee. During the proceedings, supporters burned pictures of Kim and generally made Apple and Microsoft fanatics look like choir boys on especially good behavior. Now that's dedication.

[Thanks, Dooder; Image courtesy AP Photo/Ahn Young-joon]

Samsung's Korean headquarters raided by police


Samsung just can't seem to keep itself out of hot water these days. On the heels of its chairman's home raid, it now appears that the Samsung Group headquarters have also been the target of a shakedown. Apparently, the flurry of activity is all related to an ongoing probe into accusations that the electronics-maker is responsible for a slush fund used to bribe influential prosecutors, judges, and political figures. The charges are being lobbed by Kim Yong-chul, a former legal affairs official at Samsung, who claims that the conglomerate used some 200 billion won ($215 million) to fund the shady dealings. The company denies the accusations, of course, though Chairman Lee Kun-hee has been convicted of bribery before in Korean courts... so, uh, this isn't looking good.

Samsung chairman's home raided over bribery scandal

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 investigators seize documents and a laptop from Lee's Seoul villa after a search lasting several hours. Samsung, for its part, has denied the long whispered bribery claims, made formal by its former chief lawyer last year.

Samsung's slush fund valued at $216 million, says former legal executive

We're not sure what Samsung did to invite the wrath of Kim Yong-chul, nevertheless, the former Samsung legal executive is blowing his whistle... again. In a national news conference televised in South Korea this morning, Kim stated that "Samsung has created a large-scale slush fund" valued at some 200 billion won (about $216 million). According to Kim, the fund was used to routinely bribe prosecutors and politicians in hopes of making the investigations into Samsung's improprieties go away. Last week, South Korea's parliament voted to allow an independent counsel to investigate the Samsung group in addition to improper payments -- including a congratulatory election victory "gift" -- made to South Korea's residing president, Roh Moo-hyun. Roh, who denies the allegations, is considering vetoing the bill according to a statement made by his office. Unlike typical boasts of Samsung world's firsts, this certainly isn't the first case of a corporate slush fund. However, with Samsung controlling nearly 20% of South Korea's GDP, it has legs to become the world's most notorious case of political-industrial corruption in recent years.

A Samsung bribe is worth a thousand votes


It's embarrassing enough to be embroiled in scandal after scandal, particularly if you're Samsung, whose identity is indelibly linked with that of the proud, South Korean nation (and responsible for 20% of its exports). Now this, photographic evidence of an alleged bribe from Lee Kyung-hoon, a former in-house lawyer for Samsung Electronics, as proof of Samsung's nefarious efforts to coerce government officials into glossing over past, corporate indiscretions. The 5 million won (about $5,450) bribe disguised as a book was supposedly given to Lee Young-chul, the former Secretary to the South Korean president, Roh Moo-hyun, for Legal Affairs, on January 26, 2004. He gave it back, one month later. The evidence was presented today by the "People's Action" civil group in the hopes that the government would open an independent counsel to probe the activities of Samsung and its chairman, Lee Kun-hee.

[Via Chosun, thanks Soc Gi]

Latest Samsung scandal gets hot-button treatment

It's no secret that Samsung and scandal have gone hand-in-hand in the past, but apparently, the latest one has been of particular significance in the firm's homeland. The most recent incident involves Kim Yong-chul, a former top Samsung lawyer, who went public this month with claims that Chairman Lee Kun-hee and other officials "masterminded a campaign to raise slush funds to pay prosecutors, judges and lawmakers and influence a high-profile court case." In response, independent prosecutors were called in to investigate the allegations of "bribery and policy manipulation," and not surprisingly, Samsung has reportedly fired back calling the proclamations "groundless and false." It should be noted that no "substantiating evidence" has been provided thus far, but analysts are already suggesting that these assertions, if proven legitimate, could even play a role in the nation's upcoming presidential election.

[Via BusinessWeek, image courtesy of Forbes]

Indian political party trades TVs for votes; free HDTV campaign in 2008?

Although bribery isn't exactly smiled upon here in the States, we've got a hunch that the Dravida Munnetra Kazhagam political party in India is on to something. In news likely to cause turmoil (or not) among culturally-planted Americans, the DMK promised a bevy of new electronics to folks who cast their vote for them, and apparently, it worked. After falling from power in 2001, the party has stormed back into prominence by offering poor citizens niceties (such as stoves and TVs) which most could never afford on their own. By wording the goodies as "social welfare" benefits, the sets they hand out supposedly aid the voters in receiving news critical to their life, health, and work, which in turn benefits society the DMK as a whole. While America hasn't had the best luck so far with all these e-voting implementations, and considering a good few don't even cast a passing glance at anything political, we'd bet a "Free HDTV" campaign would result in surefire admission into the Oval Office.

[Via Fark]




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