South Korea’s Largest Conglomerates Questioned in a Parliamentary Investigation
The leaders of South Korea's nine largest conglomerates are currently questioned in a parliamentary investigation. This is with regards to the corruption scandal that rocked the whole nation involving President Park Geun-hye and her confidant Choi Soon-sil.
The said investigation aims to tackle about the conglomerates' alleged under-the-table dealings with Choi Soon-sil. The investigation also aims to find out whether President Park is putting pressure on these conglomerates to donate huge amounts to two foundations known to be related to Choi.
Attending the session are (1) Huh Chang-soo, GS Group Chairman and leader of the Federation of Korean Industries, the nation's biggest business lobby; (2) Chung Mong-koo, Chairman of the Hyundai Motor Group; (3) Cho Yang-ho, Chairman of the Hanjin Group; (4) Shin Dong-bin, Chairman of the Lotte Group; (5) Lee Jae-yong, Vice Chairman of the Samsung Group; (6) Chey Tae-won, Chairman of the SK Group; (7) Kim Seung-youn, Chairman of the Hanwha Group; (8) Ku Bon-moo, Chairman of the LG Group; and (9) Sohn Kyung-shik, Chairman of the CJ Group. The said leaders of the country's nine biggest conglomerates are sworn in as a witness before the parliamentary investigation of President Park's scandal.
Lee Jae-yong, Vice Chairman and the heir apparent of the Samsung Group, is expected to face allegations on the company earning support from the National Pension Service (NPS) for its controversial merger of two affiliates in 2015 in exchange for its cash donation to Choi and her daughter, Chung Yu-ra.
The result of the said parliamentary investigation will have a big impact on President's Park impeachment vote scheduled this Friday by the opposition parties. Park was also expected to do her 4th address of the nation anytime this week probably to announce the exact date of her promised resignation. If no resignation will be made official until Wednesday, the opposition parties are pushing the impeachment votes against her as planned.
