South Korean prosecutors put the chairman of the world's third-largest pension fund under emergency arrest on Wednesday in a widening influence-peddling scandal that has led the impeachment of President Park Geun-hye.
The arrest comes as South Korea is still reeling from a corruption scandal after Park was accused of colluding with her long-time friend Choi Soon-sil to pressure big companies to make contributions to non-profit foundations.
The special prosecutor’s office is looking into whether Moon Hyung-pyo pressured the National Pension Service (NPS) to support the 8 billion dollars merger of two Samsung Group affiliates. The deal took place while he was head of the Ministry of Health and Welfare, which runs the pension fund.
Moon's home was raided on suspicion of abuse of power.
U-Jean Jung joins TRT World from Seoul, South Korea.