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Korean prosecutors are looking to join hands with their German counterpart to investigate Volkwagen's headquarters.
This as German prosecutors have opened a probe into the former Volkswagen chief executive Martin Winterkorn over allegations of market manipulation in relation to the company’s diesel emissions scandal.
Our Kim Hye-sung has the story.
The Seoul Central District Prosecutors' Office said on Wednesday that they may cooperate with German prosecutors who have launched a new investigation against German carmaker Volkswagen.
Korean prosecutors said,... since Volkswagen's Wolfsburg headquarters were involved in the sales of rigged-vehicles in Korea, cooperating with German prosecutors might be necessary to gather the facts critical to the case in Korea.
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"Through joint cooperation, Korean prosecutors may request information that German prosecutors find, or summon Volkswagen's executives involved in the case to be investigated in Korea."
Germany's financial watchdog called on the new probe against Volkswagen's entire former management board, accusing the company of manipulating markets by withholding information from investors regarding the firm's emissions scandal.
Volkswagen officially notified investors on September 22nd last year, four days after the U.S. filed a complaint, which led to a 20 percent fall in Volkswagen shares, the biggest loss in the carmaker's 79-year history.
The investigation marks the first time Volkswagen's former board members, including former chief executive Martin Winterkorn and other senior executives to become the subject of a criminal probe in connection to the emissions-rigging scandal.
Kim Hye-sung, Arirang News.
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