2008 Woodie Awards
Samsung accused of bribery in Seoul
Tim May
Issue date: 12/7/07 Section: World
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Samsung and the three government officials denied these accusations and demanded that evidence be revealed. Lim Chae Jin spoke directly to the Herald Tribune.
"I have never received any cash benefits or requests in favor of Samsung," Lim said.
This Samsung case isn't the first time that a business has been accused of bribery in Korea. South Korean conglomerates have a history of accusations against them for evading tax laws and transferring wealth to their heirs through bribery. A number of social critics view this history as a culture of corruption embedded in South Korea.
Burris, having lived in Korea, would disagree with this statement.
"The acceptance or payment of bribes may happen there, most often between a corporation and a government official, because that is how business is expedited," Burris said. "There are many other countries, such as Indonesia and several Sub-Saharan African countries, where bribes are much more commonplace in the normal course of business."
No matter where it happens, bribery is a significant problem in many countries, in both the political and corporate arenas.
The South Korean Presidential elections are to be held on Dec. 19, and, according to Kim, the Samsung scandal may cost Hyun both his title as president, and his reputation as a leader. In his final statement to the Herald Tribune, Kim predicted the continuation of corruption even with a new president.
Kim said, "I don't think this chain of corruption will ever be broken until South Korean companies improve transparency in their corporate governance."
"I have never received any cash benefits or requests in favor of Samsung," Lim said.
This Samsung case isn't the first time that a business has been accused of bribery in Korea. South Korean conglomerates have a history of accusations against them for evading tax laws and transferring wealth to their heirs through bribery. A number of social critics view this history as a culture of corruption embedded in South Korea.
Burris, having lived in Korea, would disagree with this statement.
"The acceptance or payment of bribes may happen there, most often between a corporation and a government official, because that is how business is expedited," Burris said. "There are many other countries, such as Indonesia and several Sub-Saharan African countries, where bribes are much more commonplace in the normal course of business."
No matter where it happens, bribery is a significant problem in many countries, in both the political and corporate arenas.
The South Korean Presidential elections are to be held on Dec. 19, and, according to Kim, the Samsung scandal may cost Hyun both his title as president, and his reputation as a leader. In his final statement to the Herald Tribune, Kim predicted the continuation of corruption even with a new president.
Kim said, "I don't think this chain of corruption will ever be broken until South Korean companies improve transparency in their corporate governance."
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