Samsung headquarters raided in political corruption probe

South Korean prosecutors have raided the offices of Samsung Electronics as part of a probe into the political scandal around President Park Geun-hye.

The search of the electronics company’s office in the upmarket Gangnam area of Seoul followed days of allegations in domestic media that Samsung funnelled millions of euros into a foundation run by a long-time friend and “shaman adviser” of Geun-hye, Choi Soon-sil, who is also the daughter of Shamanistic cult leader Choi Tae-min.

Choi is accused of using their friendship to interfere in politics and solicit business donations.

President Park has apologised for her ties to Choi but faces mounting calls to resign.

Prosecutors are investigating allegations that Samsung might have provided €2.8 million to a company co-owned by Choi and her daughter, to bankroll the daughter's equestrian training in Germany.

Samsung Electronics confirmed the raid but said it had “no further comment”. Last week the company said it would “fully co-operate with the investigation”.

However, the move reportedly deals a fresh blow to Samsung’s global image, which has taken a hit after the company was forced to discontinue its fire-prone Galaxy Note 7 smartphones at a cost of more than Won6tn ($5.3 billion). According to the Financial Times, shares in the company were off 0.1% in afternoon trading, in a broader market that was up 0.3%.

According to Yonhap, the state news organisation, prosecutors seized documents related to Samsung’s business with the Korea Equestrian Federation. Park Sang-jin, Samsung Electronics’ external affairs chief, was also targeted, Yonhap said.

Prosecutors are also reported to have raided the offices of the Korea Equestrian Federation and the Korea Horse Affairs Association.