SAMSUNG LIFE CHAIRMAN REFLECTS ON TESTIMONY IN FRAUD CASE

Lee Kun-hee, the beleaguered boss of Korea-based assurer Samsung Life, has spoken to local reporters following his first day of cross-examination in an investigation into alleged embezzlement and financial wrongdoing at the company. Although, as group chairman, he accepted responsibility for the current media focus on Samsung Life, Lee Kun-hee also blamed the gathered media for prejudicing the public’s view of his company. “I do not think Samsung is a criminal group and I think the problem is with you [the media] for passing on such things to the public,” he said. He also denied allegations of establishing illegal slush funds with shares inherited from his father and illegally transferring funds to his own son. The trial continues.