{"id":21413,"date":"2017-02-06T09:14:39","date_gmt":"2017-02-06T09:14:39","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=21413"},"modified":"2017-02-06T09:14:39","modified_gmt":"2017-02-06T09:14:39","slug":"samsung-group-to-disband-its-corporate-strategy-office-after-probe-ends","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/samsung-group-to-disband-its-corporate-strategy-office-after-probe-ends.html","title":{"rendered":"Samsung Group to disband its corporate strategy office after probe ends"},"content":{"rendered":"
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Samsung Group to disband its corporate strategy office after probe ends<\/span><\/strong><\/span><\/h2>\n

Samsung Group to disband its corporate strategy office after probe ends:- Samsung Group said it will disband its corporate strategy office after a special prosecution probe ends, setting a timeline on a pledge to wind up the office that has been criticized for its role in a national graft scandal.<\/span><\/p>\n

The smartphones-to-biopharmaceuticals business empire is currently being investigated by the South Korean special prosecutor’s office as part of a wider probe into the scandal that threatens to permanently unseat President Park Geun-hye.<\/span><\/p>\n

Special prosecution has classified Jay Y. Lee, third-generation leader of South Korea’s top conglomerate, and head of the corporate strategy office Choi Gee-sung as suspects in its bribery investigation on suspicions that Samsung paid money to organizations linked to Park’s confidant, Choi Soon-sil, to pave the way for a 2015 merger of two affiliates.<\/span><\/p>\n

Samsung’s corporate strategy office has come under scrutiny amid suspicions that its top officials, tasked with setting the group’s long-term agenda such as an ongoing ownership restructuring, were involved in the lobbying process. The office is seen as a key organ through which the founding Lee family exerts control over various affiliates.<\/span><\/p>\n

“Action will be taken following the conclusion of the special prosecutor’s investigation,” Samsung said in a brief statement, adding that preparations are already underway.<\/span><\/p>\n

It did not elaborate on details including how the conglomerate plans to perform the functions that are currently performed by the strategy office.<\/span><\/p>\n

Lee, who assumed leadership of Samsung after his father Lee Kun-hee was incapacitated by a May 2014 heart attack, said at a December parliament hearing over the graft scandal that he plans to disband the office but did not give a specific timeline.<\/span><\/p>\n

The special prosecution’s investigation is currently set to conclude by Feb. 28 but the office said separately on Monday it is considering seeking a 30-day extension.<\/span><\/p>\n

Source:-\u00a0http:\/\/www.reuters.com\/article\/us-samsung-group-strategy-idUSKBN15L0HE<\/span><\/div>\n

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