Items tagged with lee jae-yong

It's said that bad publicity is better than no publicity, though Samsung might disagree as the latter continues to pile on. Following its Galaxy Note 7 fiasco and the subsequent fire that broke out at its battery plant, the latest bad news for Samsung is that its de facto leader, Lee Jae-yong, has been arrested over his alleged role in a political corruption scandal involving tens of millions of dollars in bribe payments.Authorities have detained Lee, the 48-year-old grandson of Samsung's founder and heir apparent to take over the company, on multiple charges including bribery, embezzlement, and perjury. Lee allegedly doled out around $36 million in bribery payments from Samsung to entities linked... Read more...
As if Samsung needed another controversy to deal with, special prosecutors in South Korea have called for the arrest of Jay Y. Lee (Lee Jae-yong), the de facto head of the company who serves as vice chairman and who is set to inherit the firm, on allegations of bribery, embezzlement, and perjury. The heir apparent  is accused of offering millions of dollars to a longtime friend of President Park in return for the president's support of a merger that took place in 2015. Prosecutors say Lee was involved in a bribery scheme with his friend Choi Soon-sil, who allegedly received funds for her and her family, along with donations to two foundations she controls. Choi did not have an official position... Read more...