Foundation Scandals

[Anchor Lead]

President Park Geun-hye vowed stern action against anyone involved with irregularities at the Mir and K-Sports foundations. She also denied any personal interest in the scandal-ridden foundations.

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President Park Geun-hye warned against unnecessary speculation regarding the Mir and K-Sports foundations, which have sparked numerous allegations recently, and explained the background of the foundations' establishment. She said that the two foundations were founded to explore overseas markets and generate revenue, and have produced results in publicizing Korea's value all over the world. She expressed concern that continuous allegations over irregularities at the foundations might have a negative impact.

[Soundbite] Park Geun-hye(President) : "It's heartbreaking for me to see allegation after allegation being raised and distrust being spread as the public struggles to make ends meet."

Park stressed that anyone who has acted illegally at the foundations, including embezzlement of funds, will be subject to stern punishment. The president denied the allegation that the foundations were set up to support her after her retirement.

[Soundbite] Park Geun-hye(President) : "I have no personal interest other than protecting my country and its people, and returning to where I belong."

President Park urged financial authorities to investigate the matter thoroughly to prevent speculations about their transparency.