Business Services Industry
KOREAN BUSINESS SHOCKED BY PROBE INTO LG HOME SHOPPING.
AsiaPulse News, November, 2003
SEOUL, Nov 19 Asia Pulse - South Korea's business community appears to be in shock as the prosecution expands its inquiry into illegal fund-raising by political parties beyond the five largest conglomerates.
The business community believes that the prosecution has launched its probe in earnest after imposing overseas travel bans on about 30 executives, including LG Group Chairman Koo Bon-moo and Lee Hak-soo, head of Samsung Reformation Headquarters.
Earlier in the day, prosecutors seized financial documents from LG Home Shopping to confirm an allegation that LG Group used the home shopping firm to provide a huge amount of slush funds to political parties late last year.
Fearing a nightmare scenario in which top executives of businesses could be...
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