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The founding family of Samsung is in a real mess, some of which is its own creation. They once made bet for a conservative presidential candidate. After Roh Moo-hyun took over, the new government doggedly go after "irregular" transactions which allowed Lee Keun-hee's son to eventually take over the control of Samsung group. After 2 years of sparring, the government and Samsung group suddenly made up their difference. The government relented their pressure, and appointed Lee's brother-in-law Hong Suk-hyun as an Korean ambassador to U.S., who is to work as Roh's front man in D.C.. About a year before, JoongAng Ilbo, erstwhile conservative daily, suddenly changed its tone and declared that it would take a "moderate" line. Mr. Hong is the owner of JoongAng Daily.

The government tried to use Samsung's connection and money to shore up its viability, and Samsung wanted the repreieve from government attack on group's founding family. The government may have also wanted Samsung to spearhead N. Korean venture, which is one of the centerpiece to the current government. If that was the case, Samsung did not really bite.

After about 9 months, government's honeymoon with Samsung is abruptly over. Now that growing wiretapping scandal implicates Mr. Hong as a principal bagman and the government effort to paint itself as pragmatic moderate is paying no dividend, it went back to its anti-big business leftist root. The government is demanding Mr. Lee Keun-hee to testify in person.

What the government is doing is not just to go after Samsung. It simultaneously going after the former president Kim Dae-jung under whose tenure much of rampant wiretapping had occurred. Apparently, Roh want to completely control Kim Dae-jung and Kim's loyal support base by turning heat on Kim.

Any way, there is a financial legislation quite unfavorable to Samsung pending in S. Korean legislature, illegal political donation scandal, and latent anxiety of hostile take-over by foreign entities. And now this tragic family event. This must be the worst year for Samsung's owner.

As always, thanks for the info.

<< The founding family of Samsung is in a real mess, some of which is its own creation >>

Misreporting the daughter's death is a sure sign of corruption at the top levels. Let's hope this issue becomes the spotlight that outs the cockroaches of this corrupt corporation.

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(straight from BabelFish)