Samsung in bribery investigation

10 Jan 2008

After a successful stint at the Consumer Electronics Show in Las Vegas displaying its new TV range, which included the largest OLED (Organic Light Emitting Diode) screen, the Samsung Group finds itself under investigation on various allegations including bribery.

An independent group in South Korea is launching a 105-day-long investigation into charges that the electronics group allegedly bribed government officials to overlook some of its management practices.

In addition, the firm is accused of setting up several bank accounts in employee names into which large sums of money were placed to be used as a slush fund.

Samsung has called these allegations, which were made by a former legal executive Kim Yong-Cheol, groundless.

The Samsung Group, which is a top producer of LCD screens and computer chips, is an extremely high-profile company in South Korea.

Meanwhile, its Samsung Electronics division is introducing its new 128GB Flash-based SSD (solid-state drive) for laptops and desktops later this year, which will be lighter, faster and less power-intensive than its traditional counterpart, the HDD (hard-disk drive).

This new drive will bring souped-up performance to smaller devices such as ultra-portable PCs.

By Marie Boran