South Korea's NPS says prosecutors raid its headquarters

Last Updated: Wed, Nov 23, 2016 10:05 hrs
The logo of National Pension Service (NPS) is seen at its branch office in Seoul

SEOUL  - South Korean prosecutors have raided the headquarters of the country's National Pension Service (NPS), the world's third-largest pension fund, the NPS said on Wednesday.

An NPS spokeswoman confirmed prosecutors were searching the fund's offices, but declined to give details.

Local media reports said earlier that prosecutors were probing any irregularities involving the fund's backing of Cheil Industries Inc's bid to acquire Samsung C&T Corp last year.

Yonhap News Agency reported that prosecutors also raided the office of Samsung Group senior executive Choi Gee-sung. Samsung Group declined to comment on the matter.

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