Samsung Chairman Indicted for Tax Evasion
LYNN NEARY, host:
NPR's business news starts with a scandal in South Korea.
(Soundbite of music)
Samsung Electronics is known in this country for flat-screen TVs. In South Korea, Samsung is the biggest conglomerate and a large chunk of the economy. That didn't stop a South Korean prosecutor from indicting Samsung's chairman for tax evasion today. He was also indicted for breach of trust, though he was cleared of a more serious bribery charge. A former company lawyer accused some top Samsung managers of keeping a slush fund of more than $200 million to bribe politicians, but the prosecutors decided not to arrest the chairman to avoid disruption at Samsung's 59 companies.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.