South Korea special prosecutor detains national pension fund chairman

The special prosecutor's office did not immediately provide further details but had said on Monday it had raided the home of Moon hyung-pyo on suspicion of abuse of power.

By: Reuters | Seoul | Published:December 28, 2016 4:33 am

A South Korean special prosecution team investigating a political corruption scandal said it had placed the chairman of the country’s National Pension Service (NPS), Moon Hyung-pyo, under emergency detention early on Wednesday. The special prosecutor’s office did not immediately provide further details but had said on Monday it had raided the home of Moon hyung-pyo on suspicion of abuse of power.

The special prosecutor has been looking into whether Moon pressured the pension fund to support the merger of two Samsung Group [SAGR.UL} affiliates last year while he was head of the Ministry of Health and Welfare, which administers the NPS. Under South Korean law, a suspect can be held under emergency arrest without a warrant for up to 48 hours.

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