BAD YEAR

Samsung Raided by South Korean Prosecutors

The offices of Samsung Group were raided by South Korean authorities Wednesday in connection with an abuse-of-power scandal that appears to lead all the way up to the president, Reuters reported. The raid was conducted over the company’s alleged ties to Choi Soon-sil, a President Park Geun-hye confidante who is accused of pressuring companies to donate to foundations that support Park. Choi, who was indicted Sunday, is accused of pressuring major companies to raise money for foundations supporting Park’s policy of promoting cultural and sports communities. Park is under investigation in the matter. South Korea’s National Pension Service was also raided Wednesday as part of the same investigation, and is under scrutiny for its decision to approve the $8 billion merger of Samsung C&T Corp and Cheil Industries last year.