Samsung have had an interesting 6 months or so and things just keep getting weirder and weirder with reports from the local press indicating that the head of the Korean company could be facing arrest for corruption.
Lee Jae-yong, the defacto head of the company is being accused ofElectronics Vice Chairman Lee is suspected of transferring an equivalent of $18.3 million in bribes to a firm run by Choi Soon-sil, impeached President Park Geun-hye’s friend. What they allegedly got in return was the state's support of the controversial merger between Samsung’s two subsidiaries.
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According to reports, Choi allegedly used her connections to have the national pension fund support the merger in July 2015. Samsung were said to have made two more donations in the following months hence, becoming Choi’s biggest contributor among local companies.
Reports further indicate that Samsung did indeed confirm making contributions to the firm and two foundations run by the president’s confidante but denied they had anything to do with the merger.
A Korean Prosecutor, Park, requested of a Seoul court an arrest warrant for Lee. The court are yet to grant the request, this according to the NY Times.
Lee Jae-Young is the Vice President of Samsung but has been running it as its head ever since his father had a heart attack in 2014.
According to reports, Choi allegedly used her connections to have the national pension fund support the merger in July 2015. Samsung were said to have made two more donations in the following months hence, becoming Choi’s biggest contributor among local companies.
Reports further indicate that Samsung did indeed confirm making contributions to the firm and two foundations run by the president’s confidante but denied they had anything to do with the merger.
A Korean Prosecutor, Park, requested of a Seoul court an arrest warrant for Lee. The court are yet to grant the request, this according to the NY Times.
Lee Jae-Young is the Vice President of Samsung but has been running it as its head ever since his father had a heart attack in 2014.
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