South Korean prosecutors arrested for head of Samsung Li Zairong Samsung shares fell

Samsung Electronics vice chairman Li Zairong

Phoenix Technology News Beijing on January 16th news, according to Yonhap reported that South Korean special prosecutor on Monday for Li Zairong on the actual head of SamSung group (Lee Jae-yong) issued an arrest warrant on charges of bribery and political scandal stem in South Korea’s presidential cronies.

Samsung

as vice chairman, Li Zairong on Thursday to accept the bribery suspects independent investigation group information. Samsung is accused of providing unfair financial support to Pu Jinhui’s cronies Cui Shunshi, in exchange for the South Korean national pension service for two of its subsidiaries with support. The national pension fund is controlled by the South Korean government.

South Korean prosecutors said that Samsung in August 2015 and Shunshi Cui’s a German company signed a value of 22 billion won ($18 million 300 thousand) consulting contract, and provides funding for Cui Shunshi’s daughter won billions of equestrian training to the company.

Samsung also donated 20 billion 400 million won to the Mir consortium and the K sports consortium, which is the largest donor in South Korea’s local enterprises. These two foundations were established in October 2015, January 2016, were associated with the presence of Cui Shunshi.

South Korean prosecutors suspect that Samsung to provide financial support to Cui Shunshi, in exchange for the South Korean national pension group to support the merger of two subsidiaries. July 17, 2015, the national pension group approved the merger of Samsung and the first wool weaving.

South Korean national pension fund chairman, former health minister Hyung-pyo (Moon) has been arrested last month, the reason is involved in the merger of Samsung’s case.

South Korean investigators are investigating whether to participate in the park Samsung subsidiary merger. South Korean prosecutors believe that this is a bribery case. Pu Jinhui met privately with Li Zairong in July 25, 2015.

Samsung admitted to Cui’s two foundation donations, but denied the move and Mihoshi Ko’s merger related.

Li Zairong became director of Samsung Electronics in October last year, his father (Lee Kun-hee) has been hospitalized since the outbreak of heart disease in 2014. (Flute / rain)  

affected by this, South Korea’s Samsung Electronics shares rose to 1.39%.

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South Korean President Park Geun hye’s intervention bestie ugly in recent months of continuous fermentation, there are millions of people on the streets and park down requirements. Samsung also admitted under pressure to a particular institution Park provides a lot of money.

"the special prosecutor’s real concern is not whether or not to arrest Li Zairong, but for his allegations." Korea enterprise research website Cha>