Nov 23, 2016
South Korean authorities raid Samsung in Park Geun-hye probe
Prosecutors are probing whether Ms Park pressured the fund to support a Samsung merger, said the Yonhap news agency. In return, Samsung is alleged to have given financial favours to Ms Park's confidante Choi Soon-sil, Yonhap said. Ms Choi, who has been charged with coercion and attempted fraud, is accused of using her close relationship with Ms Park to obtain favours and funds for her own gain. The allegations have enraged the South Korean public, and caused Ms Park's approval ratings to plummet. Wednesday's raid had to do with a merger last year between the electronics giant's construction arm, Samsung C&T, and an affiliate firm, Cheil Industries.
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