Prosecutors Re-summon Former Samsung Miwon Office President Kim Jong-jung... Investigation into Merger Allegations

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] The prosecution investigating the merger allegations between Samsung C&T and Cheil Industries is repeatedly summoning and questioning current and former senior executives of Samsung.

According to the legal community on the 17th, the Anti-Corruption Investigation Division 4 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Bok-hyun) summoned former Samsung Future Strategy Office (FSO) executive Kim Jong-jung (64) again this morning for questioning. Previously, Kim was also summoned and questioned by the prosecution on the 10th.

Kim is suspected of being involved throughout the merger process while serving as the head of the strategy team at Samsung's FSO during the 2015 merger between Samsung C&T and Cheil Industries.

The prosecution is known to have uncovered evidence that, just before the 2015 merger, Samsung C&T deliberately lowered its company value by reducing performance such as overseas construction orders to secure a favorable merger ratio for Samsung Electronics Vice Chairman Lee Jae-yong. They are summoning senior Samsung figures one by one to verify this information. On the 15th, former Samsung C&T CEO Kim Shin was also summoned and questioned as a suspect.

The prosecution plans to summon and investigate former Samsung Group executives such as former FSO Deputy Head Jang Choong-ki and FSO Head Choi Ji-sung. However, the prosecution is facing difficulties in scheduling as many suspects are trying to delay investigations by exploiting ongoing personnel changes and internal restructuring.

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