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Samsung Korean Headquarters Raided  (Source: Getty Images)
Korea's corporate darling comes under close scrutiny after legal insider details illegal bribe schemes

Samsung is one of the largest conglomerates on the planet with revenues of $2.36 billion over the last fiscal quarter. Even with such massive revenue streams that represents a 6.6% decline from the same period last year.

Korean officials raided Samsung's headquarters on Tuesday as a result of a probe into the alleged slush fund worth approximately $200 million.  Reports previously alleged Samsung uses the fund to bribe officials and influential figures.

DailyTech reported in November that Kim Yong-cheol, a former top Samsung legal executive, claimed Samsung used this massive slush fund inappropriately under his observation.

This raid followed yesterday's raids by special prosecutors of Samsung Chairman Lee Kun-hee at seven other locations. Samsung spokesperson Yim Jun-seok confirmed for CNN the raid had taken place, but would not provide any other details.

Special prosecutors seized documents and other materials pertaining to the alleged slush fund. 

This isn’t the first time Samsung has faced serious legal troubles. In February 2007 the United States fined Samsung $90 million USD for DRAM price fixing.

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spell checker v.1.0
By jadeskye on 1/15/2008 6:21:08 PM , Rating: 2
despise raid o headquarters huh?




RE: spell checker v.1.0
By christojojo on 1/15/2008 6:44:43 PM , Rating: 2
Must be a new Mc Donalds product.

New "despise raid o headquarters" with a side fries only $90 Million USd


RE: spell checker v.1.0
By haydo on 1/15/2008 6:54:01 PM , Rating: 4
quote:
despise raid o headquarters

quote:
Korean officials raided Samsung's Korean on Tuesday

quote:
Samsung used this massive sludge fund

quote:
In February 2007 the United States fined Samsung fined $90 million USD


Did they even re-read this before they posted?


RE: spell checker v.1.0
By mindless1 on 1/16/2008 9:23:28 AM , Rating: 2
Why would we need to read it when we have the picture?


Let's be honest
By InternetGeek on 1/15/2008 6:44:23 PM , Rating: 2
Bureaucracy is the machine that keeps the world working, and sometimes it needs to be greased properly to keep the cogs turning.

Nothing bad about that, unless it is actually harmful to the business environment.




RE: Let's be honest
By James Holden on 1/15/2008 7:05:02 PM , Rating: 2
I'm not surprised either. Didn't Hyundai get busted after the CEO embezelled *billions* (not a typo).


Financial numbers off
By Eskimo on 1/16/2008 2:10:01 AM , Rating: 3
quote:
Samsung is one of the largest conglomerates on the planet with revenues of $2.36 billion over the last fiscal quarter.


Need to check your financial numbers there. Samsung Group is comprised of ~59 affiliated companies. Just one of them, Samsung Electronics, posted quarterly revenue of $18.46 Billion with a profit of around $2.35 Billion for Q4.




RAM price fixing
By mattclary on 1/16/2008 9:29:14 AM , Rating: 2
Note that the paltry $90 million is less than they have in their slush fund. That is why these big companies continue to collude and fix prices, because the fines involved are nothing compared to the profits they make from said price fixing.




If only America was this strict
By Serafina on 1/15/08, Rating: -1
RE: If only America was this strict
By Bioniccrackmonk on 1/16/2008 9:01:40 AM , Rating: 2
Listen, Microsoft isn't evil, Linux isn't the messiah. Hve you taken into account how many jobs Ms has for americans here in the states? Or how much money Bill gives to charitable causes? Why don't you collect all your tears in a bucket so Bill and I can make sorrowful beer with them and kick back to enjoy its bitter sweet taste.


RE: If only America was this strict
By mindless1 on 1/16/2008 9:30:51 AM , Rating: 1
You think we wouldn't have computers, the industry would have just waited around if MS didn't produce windows?

You think the # of jobs to support the userbase would be lower? No, MS did not create jobs they eliminiated them.

Just where do you think those millions upon millions would've gone if not into MS' pockets and then a charity? I could give you a hint. I'll give you a different hint though, that if you or I want to give money to a charity, GREAT, go ahead and do so.

NObody said Linux is the messiah but you certainly seem to be arguing for a company that needs no support from you as they do have the market. It is really something special to give to a charity when money is more plentiful than toilet paper, you have far more money than you could ever need even if you gave away 90% of it? It's not what give away, it's what you keep and what it cost others to get there.


RE: If only America was this strict
By Bioniccrackmonk on 1/16/2008 11:02:10 AM , Rating: 2
Do you think that no other company in the world operates the same way that MS does?

quote:
You think the # of jobs to support the userbase would be lower? No, MS did not create jobs they eliminiated them.


Really, then why don't you head up to Redmond and tell all the employees there that they don't have jobs. Also include all the international offices they have while your at it. MS operates under the same business practices that every other international corporation does.

quote:
Just where do you think those millions upon millions would've gone if not into MS' pockets and then a charity? I could give you a hint. I'll give you a different hint though, that if you or I want to give money to a charity, GREAT, go ahead and do so.


I know, so your "hint" is useless, it would have gone to some other corporation that may have been based here or in some other country.

quote:
I could give you a hint. I'll give you a different hint though, that if you or I want to give money to a charity, GREAT, go ahead and do so.


I will let George Carlin answer this one for me, "Never argue with an idiot, they will bring you down to their level and beat you with experience".

quote:
It is really something special to give to a charity when money is more plentiful than toilet paper, you have far more money than you could ever need even if you gave away 90% of it?


Good question, why don't you go knocking on the doors of the top 10% wealthiest people and find out why they aren't doing the same thing.

quote:
It's not what give away, it's what you keep and what it cost others to get there.


IBM, Intel, EA, Samsung, etc, so why only point the finger at MS when a lot of the major corporations in this world did the same thing.


By mindless1 on 1/20/2008 9:55:02 PM , Rating: 2
1) That people in Redmond have jobs is not at all proof that there are more instead of fewer tech jobs as a result.

2) Yes, the money would have been spread around so multiple companies had more R&D funding to innovate. Some of the folks at MS are really good at what they do, but it's still a matter of one handful of innovators vs several handfulls.

3) Obviously you have no argument for what I wrote, since it's quite clearly true that we can all give to charity if that is where we want the money to go.

4) Like I already wrote, it's not what you're giving it's what's being kept. I guess you don't understand that if the money were spread more widely it does in fact have a trickle down effect, including more jobs.

5) Did I ever claim I only point the finger at MS? We both know that was not the case so basically you are attempting to introduce your ideas, benefitting your agenda then attribute them to me, a clear sign you have no valid argument. I will elaborate though, that with these other companies none have a stranglehold on the market that stifles competition and innovation. MS certainly should be one of the top software developers, but not the only mainstream commercial producer of office and PC desktop OS wares.


RE: If only America was this strict
By bhieb on 1/16/2008 12:52:05 PM , Rating: 2
Yes there would be computers, but not nearly as many. Do you think my grandma would have a computer if she had to figure out Linux or one of 30 other OS that would exist if there was no clear leader. Windows has it's issues, but much like the HDDVD and BluRay debacle it is not always a bad thing for a unified format (aka monopoly). If it weren't for the dominance of windows simple things that Linux uses like a standard x86 interface may not even exist on the vast majority of PC's. After all who is to say x86 would even be a dominate standard if windows did help it bo be so. We would have a mix of standards and computers none of which would be compatible with the other. Yes IBM created the clone, and made x86 standard, but without a dominate OS and software there is no telling how many Apples type companies would have went with not only another OS, but proprietary hardware standards.

MS is not all good, but it is hardly evil.

ps. I know x86 was not the first, but I could not remember my computer history class. But my point is still valid without a dominate OS hardware would likely also be all over the place and proprietary.


By mindless1 on 1/20/2008 10:01:50 PM , Rating: 2
There is no denying some benefit from a common platform, but that platform could have been an open standard. You seem to be suggesting that if it weren't for MS, other OS would only be at their present state and this is incorrect.

Grandma for example, would have had other alternatives that had more commercial backing. MS deprofitized competitive alternatives to the point that their main competition is FREE! Don't you see the significance of this? There was enough money in the industry to support a dozen OS all intercompatible.

You imply inevitable things wouldn't exist without windows, but actually a lot of windows was in fact borrowed or furthered from other sources.

We don't have to assume hardware would be proprietary, there would necessarily have been standardization independent of Windows and indeed there is to a large extent.

I didn't make some generic comment like "Microsoft is evil", I instead mentioned specific things and it was you who made the decision that based on what they wrote, evil is suggested. This means you have decided it when I only mentioned specific things that factor into the state the industry is in today and replies to specific things others had mentioned. I replied TO a post, did not start out introducing new topics.


By mattclary on 1/16/2008 9:27:18 AM , Rating: 2
Unfortunately, there is that little detail called "evidence" and "burden of proof".


RE: If only America was this strict
By rudy on 1/17/2008 7:44:47 AM , Rating: 2
lol do you have any idea what you are talking about? First of all nothing will come of this unless there is a major change of power since the slush fund was used to buy out all the politicians in power. We have all the laws to do this here. Samsung has been out of control for years and nothing has come of it until now not exactly anything I would be looking up too. Go live in Asia and have a clue before you talk the corruption you see here is nothing compared to what goes on over there.


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