January 18, 2021
1 min read

Samsung heir jailed over corruption

The Seoul High Court gave Lee, Vice Chairman of Samsung Electronics Co., the prison term for bribing Park and her longtime friend, Choi Soon-sil, to win government support for a smooth transition of managerial power at the tech giant…reports Asian Lite News

A Seoul court on Monday sentenced Lee Jae-yong, heir apparent of South Korea’s biggest family-run conglomerate the Samsung Group, to two years and a half in prison for corruption charges, including a bribery case involving former President Park Geun-hye.

The Seoul High Court gave Lee, Vice Chairman of Samsung Electronics Co., the prison term for bribing Park and her longtime friend, Choi Soon-sil, to win government support for a smooth transition of managerial power at the tech giant, reports Yonhap News Agency.

Park was later impeached and ousted for corruption and abuse of power.

Lee, who was present at the hearing on Monday, was taken into custody immediately after the verdict was handed down, less than three years after he was released on a suspended sentence.

The 52-year-old Lee was charged in February 2017 with giving 29.8 billion won ($27.4 million) worth of bribes and promising to give more.

Also read:Q4 2020: Samsung To Post $9 Bn Operating Income

Previous Story

Brazil vaccine rollout to begin soon

Next Story

UK plans to offer first dose of vaccine to every adult

Latest from -Top News

The UK’s Net Zero Journey

Achieving net zero is not just a technological but also a political and cultural undertaking, writes Hasil Farooque In 2019, the United Kingdom officially committed itself to eradicate all greenhouse gas emissions

Bangladesh’s Dark Side Unveiled in Geneva

Organised by diaspora activists, the exhibit exposed rising rights abuses in Bangladesh post-Hasina…reports Asian Lite News In a bid to spotlight the deteriorating human rights situation and rising persecution of minorities in

India Outpaces Peers in Morgan Stanley Outlook

Global investment firm reaffirms India’s status as top-performing economy in latest growth outlook…reports Asian Lite News India is set to retain its position as the fastest-growing economy among nations tracked by Morgan

Debt deals, austerity still rule Colombo

IMF approves $350 million t ranche as island nation sees early signs of recovery, but challenges persist amid ongoing reforms and rising public discontent….reports Asian Lite News The International Monetary Fund (IMF)

Pakistan misses export target

Pakistan misses export target for 2024-25 despite modest growth, with rising imports widening the trade deficit and prompting urgent cost-cutting measures across key sectors….reports Asian Lite News Pakistan has fallen short of
Go toTop