Seoul, Nov 27: Prosecutors today raided a unit of Hyundai Motor Co., South Korea's biggest carmaker and fourth-largest business group, amid allegations that it provided illegal campaign funds during last December's presidential election. The supreme public prosecutors' office confirmed it had raided Hyundai capital, which specializes in automobile and consumer financing, but spokesman Kook Min-Soo gave no further details.

Investigators seized financial and other documents from the office, a Hyundai capital spokesman said on condition of anonymity. He declined further comment. Prosecutors have been investigating several South Korean conglomerates over allegations they provided illegal campaign funds in last December's election. The probes began after executives at South Korea's third largest conglomerate, SK Group, admitted in October to providing illicit contributions.

Earlier this week, prosecutors raided Samsung Electro-Mechanics Co., an affiliate of South Korea's biggest conglomerate, Samsung.

They also have recently raided LG home shopping, affiliated with the nation's no. 2 conglomerate, LG group. Bureau Report