South Korea's NPS says prosecutors raid its headquarters | Reuters

SEOUL South Korean prosecutors have raided the headquarters of the country's National Pension Service (NPS), the world's third-largest pension fund, the NPS said on Wednesday.An NPS spokeswoman confirmed prosecutors were searching the fund's offices, but declined to give details.Local media reports said earlier that prosecutors were probing any irregularities involving the fund's backing of Cheil Industries Inc's bid to acquire Samsung C&T Corp last year. Yonhap News Agency reported that prosecutors also raided the office of Samsung Group senior executive Choi Gee-sung. Samsung Group declined to comment on the matter.

Reuters November 23, 2016 07:00:09 IST
South Korea's NPS says prosecutors raid its headquarters
| Reuters

South Koreas NPS says prosecutors raid its headquarters
 Reuters

SEOUL South Korean prosecutors have raided the headquarters of the country's National Pension Service (NPS), the world's third-largest pension fund, the NPS said on Wednesday.An NPS spokeswoman confirmed prosecutors were searching the fund's offices, but declined to give details.Local media reports said earlier that prosecutors were probing any irregularities involving the fund's backing of Cheil Industries Inc's bid to acquire Samsung C&T Corp last year.

Yonhap News Agency reported that prosecutors also raided the office of Samsung Group senior executive Choi Gee-sung. Samsung Group declined to comment on the matter.

(Reporting by Joyce Lee and Ju-min Park; Editing by Richard Pullin)

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