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SEOUL, South Korea (AFP) — The heir and de facto leader of Samsung group received a presidential pardon Friday, the latest example of South Korea’s long tradition of freeing business leaders convicted of corruption on economic grounds. Billionaire Lee Jae-yong, who was convicted of bribery and embezzlement in January last year, will be “reinstated” to give him a chance to “contribute to overcoming the economic crisis” of the country, Justice Minister Han Dong-hoon said. Lee […]
by Sebastien Berger Agence France Presse SEOUL, South Korea (AFP) — The heir to the Samsung business empire, which includes the world’s biggest smartphone maker, was sentenced Friday to five years in prison for bribery and other offenses in connection with the scandal that brought down South Korean president Park Geun-Hye. Lee Jae-Yong’s penalty could leave the giant firm rudderless for years and hamper its ability to make key investment decisions. The vice-chairman of […]
SEOUL, South Korea (AFP) — The world’s biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea’s wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring. Following the embarrassing recall of the Galaxy Note 7 smartphone and under pressure from activist shareholders to improve corporate governance, Samsung Electronics said last year that it was considering splitting the company in two. Its vice-chairman Lee Jae-Yong, the heir to the […]
by Park Chan-Kyong Agence France Presse SEOUL, South Korea (AFP) — The heir of South Korean giant Samsung was arrested Friday as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye to be impeached. “It is acknowledged that it is necessary to arrest (Lee Jae-Yong) in light of a newly added criminal charge and new evidence,” a court spokesman said in a statement. Lee Jae-Yong, Samsung Electronics vice chairman, is accused […]
SEOUL, South Korea (AFP) — Samsung heir Lee Jae-Yong returned home Friday after marathon questioning by South Korean prosecutors as a suspect in a massive corruption scandal involving impeached President Park Geun-Hye. Lee, vice chairman of Samsung Electronics and the son of Samsung Group chairman Lee Kun-Hee, was quizzed for 22 hours over allegations of bribery. Looking exhausted, he did not respond to questions from journalists waiting outside the special prosecutor’s office before he rode […]
