Samsung C&T denies rumors of proxy payment for Lee Kun-hee's residence
[THE INVESTOR] Samsung C&T on May 31 denied allegations that it paid for Samsung Electronics Chairman Lee Kun-hee’s residence renovations.
It follows a Hankyeoreh report claiming that a firm that has done home designs for a number of business tycoons including Lee is under police investigation for tax evasion during which the police was informed that Samsung C&T made payments.
Samsung Electronics Chairman Lee Kun-hee`s residence in Hannam-dong, central Seoul
Local media reports said that Lee’s residence underwent a series of renovations including landscaping for a garden and revamping accommodation for staff, costing over 10 billion won (US$8.92 million).
The company stated that after receiving orders, if necessary a contractor is hired.
It also explained that an employee of S1 (then Everland) oversaw the home design and paid by check from the chairman’s personal account.
By Hwang You-mee (email@example.com)