The Korea Herald

피터빈트

Local furniture maker under probe over alleged slush fund, bribery

By Yonhap

Published : Jan. 8, 2021 - 11:21

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This photo, provided by Yonhap News TV, shows the logo of Hanssem Co. (Yonhap News TV) This photo, provided by Yonhap News TV, shows the logo of Hanssem Co. (Yonhap News TV)
Police have raided the headquarters of South Korea's leading furniture maker Hanssem Co. this week as part of a probe into its alleged slush fund creation and graft charges, an official said Friday.

The Seoul Metropolitan Police Agency sent investigators to the compound in western Seoul the previous day to search for potential evidence. Having combed a computer server room and offices in charge of budget operation and public relations, they secured documents and other materials, according to the official, who spoke on the condition of anonymity.

Hanssem is suspected of creating slush funds by sending more than 4.4 billion won ($4 million) to four advertising agencies, suspected to be paper firms, from 2018 till late last year. It allegedly siphoned off some of the money.

It is also alleged to have offered furniture products and discount benefits, worth tens of millions of won, in illicit favors to reporters and executives at media outlets and some police officers.

Police launched an investigation into the allegations in November last year and plan to call in related company officials for questioning. (Yonhap)