The merger deal carried out in support of the National Pension Service(NPS) helped the Samsung Group's Vice-Chairman Lee Jae-yong to increase his shares in the group for a management control from his father. The civic organizations estimated that the merger has caused the NPS to lose around 70 billion won(US 59.3 million).
While the prosecution is currently questioning Samsung Group Vice-Chairman Lee Jae-yong, current head of the NPS Moon Hyung-pyo(the then Minister for Health and Welfare) and former Chief Investment Officer Hong Wan-seon over the allegations of bribery, dereliction of duty and abuse of power in relation to the Park Geun-hye & Choi Soon-sil gate scandal, the civic and labor organizations launched a national petition to claim a compensation for the damages for the loss of retirement asset of the national pension subscribers.
The 'People's Action to Strengthen Public Pension' received the applications who wished to participate in the national petition on and off lines from December 1 for ten days and the number of participants reached about 12,000. The claimed compensation for the damages by the national petition is 500 billion won(US423.2 million).
reported by Bae Hye-jeong
translated by Kim Sung-jin