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Archive for April 26th, 2010

 The buzz about this book, which exploded in Korea a month or more ago, has reached the New York Times. The lawyer Kim Yong-chul who formerly worked for Samsung, has revealed alot of the corrupt practices of the corporation that he saw from the inside. So great is the power of Samsung that no newspaper dared advertise it, yet by Twitter and word of mouth on blogs, it has sold 120,000 copies so far.

Some of what the lawyer has revealed:

Mr. Kim accused Mr. Lee and his loyal aides of having stolen as much as 10 trillion won, or $9 billion, from Samsung subsidiaries and stashed it in stock and bank accounts illegally opened in the names of executives.

The book alleges that they shredded books, fabricated evidence and bribed politicians, bureaucrats, prosecutors, judges and journalists, mainly to ensure that they would not stand in the way of Mr. Lee’s illegal transfer of corporate control to his only son, Lee Jae-yong, 41.

To see the whole article, go to the New York Times website:

http://www.nytimes.com/2010/04/26/technology/26samsung.html?ref=technology

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