Samsung Investigated, South Korea ETF Could Be Affected

South Korea’s Samsung Group is under the microscope, and an exchange traded fund (ETF) with its electronics division as one of its top holdings could feel the impact.

The Associated Press says that South Korea’s president appointed an independent counsel to take a look at slush fund and bribery allegations against Samsung. Also under investigation will be whether the country’s president received money from the company before and after the 2002 election. The counsel has up to 125 days to complete the probe.

Samsung Electronics makes up 13.4% of the iShares MSCI South Korea Index (EWY). EWY is up 28.3% year-to-date.