Police Conduct Search of Hanssem... Suspicions of Illegal Slush Funds and Unfair Solicitation

[Asia Economy Reporter Jang Hyowon] The police conducted a search and seizure at Hanssem, a furniture company suspected of illegal slush fund creation and improper solicitation.

On the 7th, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency sent investigators from 10 a.m. to 6 p.m. to search the 21st floor External Cooperation Office, Budget Department, server room, and other areas at Hanssem's headquarters in Sangam-dong, Mapo-gu, Seoul.

The police reportedly secured related documents and electronic data, including advertising expense execution documents and materials that could confirm improper solicitation details.

Hanssem is suspected of having sent over 4.4 billion KRW to four advertising agencies suspected to be 'paper companies' from 2018 until the end of last year under various payment names, then embezzling part of the funds as slush money.

There are also allegations of improper solicitation involving providing furniture and interior discount benefits worth up to tens of millions of KRW to media executives, reporters, and police officers.

Meanwhile, since launching the investigation in November last year, the police have booked and are investigating Hanssem officials on charges including embezzlement. After analyzing the seized items, the police plan to summon and question the related parties.

This content was produced with the assistance of AI translation services.