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nitpicker

(7,153 posts)
Tue Dec 6, 2016, 06:48 AM Dec 2016

South Korean firms face rare corruption hearing

http://www.bbc.com/news/world-asia-38218132

South Korean firms face rare corruption hearing

1 hour ago

From the section Asia


South Korean lawmakers are questioning leaders of the country's biggest businesses in a rare televised hearing as part of a huge corruption inquiry. Samsung, Hyundai and six other firms admitted giving millions of dollars to funds linked to President Park Geun-hye, but denied seeking favours. Samsung admitted to giving the daughter of Ms Park's friend an expensive horse.

Parliament is due to vote on Friday on Ms Park's impeachment over her involvement in the scandal. Massive protests have been held in recent weeks demanding her resignation.

The executives are being questioned by a cross-party committee of lawmakers. The panel has no power to punish but its chairman has said the hearing is a place for apology.

One of the corporate bosses acknowledged that it was difficult for firms to say no to government requests. "It's a South Korean reality that if there is a government request, it is difficult for companies to decline," said Huh Chang-soo, head of the GS Group and chairman of the Federation of Korean Industries lobby group. The conglomerates all gave large donations to non-profit foundations operated by Choi Soon-sil, a close confidante of Ms Park.
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