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Samsung Chief to Ponder Resigning



By KELLY OLSEN
11 April 2008 @ 08:59 pm EST

SEOUL, South Korea (AP) - The corruption scandal shaking South Korea's largest conglomerate could lead to a major change in its leadership, Samsung's leader said late Friday, indicating he will consider resigning.

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Samsung Group Chairman Lee Kun-hee spoke haltingly with reporters after he emerged from a second round of extensive questioning in a special probe into allegations of bribery, nepotism and a $205 million slush fund and nepotism.

"I will deeply think about reshuffling the corporate management structure and the management lineup, including myself," Lee said.

Pressed if that meant he would resign, Lee said he "will think about it."

An independent counsel appointed by the government began investigating Samsung in January, spurred by allegations from a former top Samsung attorney named Kim Yong-chul. The probe is to end April 23.

Kim claimed Samsung, an empire of dozens of companies founded by Lee's father, bribed prosecutors and judges using the slush fund. Kim also said Lee's wife, who heads a Samsung art museum, used some of the money to buy expensive paintings from abroad.

Samsung Group immediately denied the allegations.

The 66-year-old Lee, regarded as the nation's most influential executive, assumed blame for the scandal and said he would "take full responsibility, either morally or legally."

A company statement issued late Friday said Lee's statements were contingent on whether the investigation uncovers any wrongdoing.

"His comment does not mean that the chairman himself or top management will step down," according to the statement. "Rather it means that if the special prosecution concludes that there are problems, we will make necessary improvements."

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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