Prosecutors raid Samsung Electronics on suspected unfair biz practice

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: March 28, 2022 | 10:45 AM GMT

Prosecutors on Monday raided Samsung Electronics Co. and a Samsung food service subsidiary over suspicions of unfair business practice involving in-house cafeteria services, officials said.

Investigators from the Seoul Central District Prosecutors Office searched the headquarters of Samsung Electronics in Suwon and Samsung Welstory in Bundang, both south of Seoul, for materials related with business deals on meal services for employees.

Monday’s raids came after the national antitrust regulator slapped a combined fine of 234.9 billion won ($191.6 million) on five key Samsung affiliates, including Samsung Electronics Co. and Samsung Display Co., in June last year for giving unfair business favors to Welstory by illegitimately channeling their in-house cafeteria service deals into the company.

The state agency has since filed complaints with the prosecution against Samsung Electronics and its former executive Choi Gee-sung for a formal investigation. (Yonhap)

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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.