Samsung heir gets jail for bribery

Published August 26, 2017

SEOUL: The heir to the Samsung empire was convicted of bribery and other offences on Friday and jailed for five years in connection with the scandal that brought down South Korean president Park Geun-Hye.

Lee Jae-Yong’s penalty could leave the vast conglomerate, which includes the world’s biggest smartphone maker, rudderless and hamper its ability to make key investment decisions for years.

The vice-chairman of Samsung Electronics, 49, arrived at the Seoul Central District Court on a justice ministry bus handcuffed and bound with white rope around his dark jacket.

Lee was found guilty of bribery, perjury and other charges related to payments Samsung made to Park’s secret confidante Choi Soon-Sil.

In total 8.9 billion won ($7.9 million) was paid in bribes in return for favours including government support for Lee’s hereditary succession at the group after his father was left bedridden by a heart attack in 2014, the court found.

Lee had denied the char­ges, but presiding judge Kim Jin-Dong said: “He offered bribes in response to strong demands by the president.”

Four other top Samsung executives were also convicted, with two jailed for up to four years, and the other pair given suspended terms.

Supporters demonstrating outside the court broke down in tears while Lee’s lawyers said they would appeal “immediately”, with lead attorney Song Wu-Cheol saying he “cannot possibly accept” the court’s “interpretation of law and finding of facts”.

The verdict could add impetus to new President Moon Jae-In’s campaign pledges of reform.

In a rare statement on a court case, the presidential Blue House said: “We hope that the ruling will serve to encourage the cutting of collusive ties between politicians and businesses, which have hampered social progress.”

Published in Dawn, August 26th, 2017

Opinion

Editorial

China security ties
Updated 14 Nov, 2024

China security ties

If China's security concerns aren't addressed satisfactorily, it may affect bilateral ties. CT cooperation should be pursued instead of having foreign forces here.
Steep price
14 Nov, 2024

Steep price

THE Hindu Kush-Himalayan region is in big trouble. A new study unveiled at the ongoing COP29 reveals that if high...
A high-cost plan
14 Nov, 2024

A high-cost plan

THE government has approved an expensive plan for FBR in the hope of tackling its deep-seated inefficiencies. The...
United stance
Updated 13 Nov, 2024

United stance

It would've been better if the OIC-Arab League summit had announced practical measures to punish Israel.
Unscheduled visit
13 Nov, 2024

Unscheduled visit

Unusual IMF visit shows the lender will closely watch implementation of programme goals to prevent it from derailing.
Bara’s businesswomen
13 Nov, 2024

Bara’s businesswomen

Bara’s brave women have proven that with the right support, societal barriers can be overcome.