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7 months ago
South Korea special prosecutor detains pension fund chairman
December 27, 2016 / 10:42 PM / 7 months ago

South Korea special prosecutor detains pension fund chairman

1 Min Read

SEOUL, Dec 28 (Reuters) - A South Korean special prosecution team investigating a political corruption scandal said it had placed the chairman of the country's National Pension Service (NPS), Moon Hyung-pyo, under emergency detention early on Wednesday.

The special prosecutor's office did not immediately provide further details but had said on Monday it had raided the home of Moon on suspicion of abuse of power.

The special prosecutor has been looking into whether Moon pressured the pension fund to support the merger of two Samsung Group [SAGR.UL} affiliates last year while he was head of the Ministry of Health and Welfare, which administers the NPS.

Under South Korean law, a suspect can be held under emergency arrest without a warrant for up to 48 hours.

Reporting by Ju-min Park; Writing by Tony Munroe; Editing by Chris Reese

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