November 22, 2024

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[THE INVESTOR] South Korea’s Supreme Prosecutors’ Office called in Samsung Electronics executive president Chang Choong-ki on Nov. 18 to question him about the conglomerate’s alleged financial support for Choi Soon-sil, a key figure in the recent presidential scandal.

Jang serves as a deputy head of Samsung’s future strategy office, the de facto control tower of the nation’s largest conglomerate. The future strategy office is suspected of having made a decision to provide funds to Choi in hope of receiving favors in return. 

Utilizing her close relationship with President Park Geun-hye, Choi reportedly wielded her influence in the political and business sectors to help Samsung Group complete the merger between Samsung C&T and Cheil Industries in 2015.

Samsung reportedly offered funding worth 3.5 billion won (US$2.99 million) to Widec Sports, a German paper company run by Choi.

Most of the money has been used to buy horses and equestrian equipment and fields for Choi’s daughter Chung Yu-ra, a former equestrian athlete.

The prosecution has summoned Samsung’s president for corporate relations Park Sang-jin twice this month to question him on Samsung’ alleged involvement in the scandal.

Park reportedly told prosecutors that he did not know of the details of Samsung’s financial support for Choi and her daughter.

By Kim Young-won (wone0102@heraldcorp.com)