Lee Jae-yong

Samsung heir jailed for five years

Seoul - Emirates Voice

Samsung heir Lee Jae-Yong was sentenced to five years in prison Friday for bribery, perjury and other crimes. The Seoul Central District Court convicted Lee, 49, the vice-chairman of Samsung Electronics, the world's largest smartphone maker, of offences related to the corruption scandal that brought down ousted president Park Geun-Hye.Read more

Boiling point: pressure mounts on South Korea's chaebols

Seoul - ArabToday

Once a driver of growth and a source of national pride, South Korea's family-led conglomerates are becoming instead objects of public scorn as a massive corruption scandal puts them under mounting pressure to reform. Tuesday's indictment of the heir to the Samsung empire, Lee Jae-Yong, and four of his colleagues on charges of bribery and embezzlement was the latest setbackRead more

Samsung heir indicted for bribery, embezzlement

Seoul - Arab Today

The heir to the Samsung empire and four other top executives were indicted Tuesday on multiple charges including bribery and embezzlement, South Korean prosecutors said in the latest blow to the world's biggest smartphone maker. The presentation of formal charges against Lee Jae-Yong and his colleagues makes them almost certain to face trial, casting new uncertainty over South Korea's biggestRead more

Court approves arrest of Samsung heir

Seoul - Arab Today

A South Korean court approved on Friday the arrest of a billionaire heir to Samsung accused of bribery and other charges in connection to a massive corruption scandal, a stunning decline for the princeling of South Korea’s richest family. The Seoul Central District Court’s decision to issue a warrant to arrest Lee Jae-yong, 48, a vice chairman at Samsung ElectronicsRead more

Samsung's history tainted by run-ins with the law

Seoul - ArabToday

The sprawling conglomerate now so dominates South Korea that citizens joke they live in the “Republic of Samsung”. But three generations of the Lee family have faced charges including tax evasion and bribing government officials. The heir to the business, Lee Jae-Yong, was arrested Friday as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye toRead more

South Korean prosecutors to seek arrest warrant for Samsung heir

Seoul - Xinhua

South Korean prosecutors independently investigating the scandal involving impeached President Park Geun-hye are forecast to seek an arrest warrant this week for the heir apparent of Samsung Group, the country's biggest family-controlled conglomerate, local media reported Monday. Local newspaper Hankyoreh reported that the independent counsel planned to call on a court around Wednesday to issue an arrest warrant for SamsungRead more

Samsung breaks away from chaebol lobby following presidential scandal

Seoul - Xinhua

Samsung Electronics, South Korea's biggest family-run conglomerate, on Monday broke away from the country's largest business lobby composed of chaebols after the presidential scandal fueled calls for the break-up or a full-scale reform of conglomerates. A Samsung official told Xinhua that it officially offered to abandon its membership of the Federation of Korean Industries (FKI), a business community that speaksRead more

South Korea court rejects arrest warrant for Samsung heir

Seoul - Arab Today

A South Korean court on Thursday refused to authorise the arrest of the heir to the Samsung business empire, in a setback to prosecutors probing a corruption scandal engulfing President Park Geun-hye. Officials on Monday sought the arrest of Lee Jae-Yong on charges of bribery, embezzlement and perjury, sending shock waves through the group, which is a major part ofRead more

Samsung says Q4 profits up 50%

Seoul - Arab Today

Samsung Electronics' profits leaped in the fourth quarter, it said Tuesday, despite the humiliating Galaxy Note 7 recall that hammered the reputation of the world's largest smartphone maker. The South Korean tech giant took another blow when prosecutors began investigating its involvement in a corruption scandal, which has seen the country's president impeached, and sought the arrest of the firm'sRead more

Court rejects Samsung heir's arrest

Seoul - Xinhua

A court rejected an arrest warrant for Samsung Group's heir, made by the independent counsel team probing South Korea's presidential scandal. The Seoul court early Thursday dismissed the warrant to detain Samsung Electronics Vice Chairman Lee Jae-yong, which was requested on Monday by the special prosecutors. The marathon deliberation continued for almost 15 hours, as the court said itRead more