South Korea's Ex-Health Minister Guilty of Swaying Samsung Vote
Moon Hyung-pyo.
Photographer: Yonhap/EPAThis article is for subscribers only.
Seoul, South Korea (AP) -- South Korea's former health minister was convicted on Thursday of pressuring the country's pension fund to support a controversial Samsung merger, in one of the first rulings on key players in the corruption scandals that ensnared the country's ousted president and Samsung's heir.
The merger of Samsung C&T and Cheil Industries in 2015 was crucial in Samsung's father-to-son leadership succession, but U.S. hedge fund Elliott Associates and other minority shareholders opposed the plan arguing that it would unfairly benefit Samsung founding family members.