In a closely watched bribery case, South Korea’s top court on Thursday overturned part of a lower court’s ruling against Samsung’s third-generation heir, raising the specter of a prison term.
In a closely watched bribery case, South Korea’s top court on Thursday overturned part of a lower court’s ruling againstLee Jae-yong, the 51-year-old vice chairman of Samsung Electronics, paid millions of dollars worth of bribes in exchange for favors from South Korea’s disgraced former president, Park Geun-hye, according to the court. He wasand her confidant in exchange for government support in a scheme to secure Lee’s succession of the Samsung empire.
in 2017 was equally if not more shocking in South Korea than Park’s downfall. Samsung, the largest of South Korea’s family-controlled conglomerates known as, accounts for a fifth of the nation’s gross domestic product and was coddled by South Korean leaders for decades during the country’s push for industrialization., his grandfather for smuggling saccharine — but never spent a day in lockup.
“In recent years, Samsung has gone through difficulties due to internal and external uncertainties, and has been unable to focus on preparing to lead future industries,” the company said, asking for “help and support” from South Koreans.
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