12 thoughts on “South Korean president-Samsung corruption update

  1. Corruption trial looms for Park

    SOUTH KOREA: Disgraced ex-president Park Geun Hye will be indicted early next week and face trial for corruption, prosecutors said yesterday.

    She has been held at a detention centre near Seoul since being arrested late last month on suspicion of extorting money from businesses and taking bribes in collaboration with a confidante.

    Prosecutors can detain Ms Park until Wednesday without charging her.



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  6. Saturday 26th August 2017

    SAMSUNG heir Lee Jae Yong showed no emotion yesterday as he was sentenced to five years in prison for bribing impeached president Park Geun Hye.

    The Seoul Central District Court said the billionaire vice-chairman and grandson of the company’s founder was guilty of offering bribes to Ms Park and her confidant Choi Soon Sil.

    The bribes were in return for government support for efforts to cement Mr Lee’s control over the Samsung empire.

    The tribunal also found him guilty of embezzling Samsung funds, hiding assets overseas, concealing profit gained from criminal acts and perjury.

    “The essence of the case is unethical collusion between political power and capital,” a court statement said.

    Mr Lee’s misdeed had led the public to fundamentally question the public nature of the president’s work and to have “mistrust in the morality of the Samsung group,” the statement continued.

    Outside the court, Samsung barrister Song Woo Cheo vowed to appeal against the verdict.

    The Korea Employers’ Federation refrained from criticising the verdict but claimed Mr Lee’s absence from Samsung would damage the country’s economy.

    “Samsung Electronics represents South Korea as a global company, so we are deeply worried about the fallout from his long absence,” said a federation spokesman.

    “It will be a disaster not just to an individual company but to the nation’s economy.”

    Civic groups welcomed the guilty verdict but said the penalty was too lenient, backing prosecutors’ demands for a 12-year sentence.

    South Korean President Moon Jae In’s spokesman Yoon Young Chan welcomed the verdict, adding: “We hope that it would pave the way to end persistent government-business collusion, which has hampered society from moving forward.”



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