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PENSION OFFICE RAIDED Hours earlier, investigators raided the office of the world’s third-largest pension fund, the National Pension Service (NPS), over possible links to the scandal. The special prosecutor’s office is looking into NPS’ decision last year to back the $8 billion merger of two Samsung Group affiliates, which was criticised for strengthening the founder family’s control of the group at the expense of other shareholders. The NPS was a major shareholder of both companies. Investigators are also examining whether Samsung’s support of a business and foundations backed by Choi may have been connected to NPS’ support of the deal, a prosecution official told Reuters, declining to be named because he was not authorised to speak with media. An office at the Ministry of Health and Welfare, which administers the NPS, was also raided on Wednesday, a Ministry of Health and Welfare spokeswoman confirmed. NPS and Samsung Group could not immediately be reached for comment. click here for moreNPS’ backing of last year’s merger of Samsung C&T Corp and Cheil Industries was seen as crucial to the deal winning shareholder approval. Last month, a different team of prosecutors raided offices of Samsung and the NPS. Meanwhile, more than 30 lawmakers from Park’s ruling Saenuri Party who supported the impeachment vote announced on Wednesday they plan to break from the party, a move that will undermine the party’s position in the 300-member chamber. The conservative Saenuri Party currently holds 128 seats.
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