Samsung officially names third-generation heir Lee chairman
Samsung Electronics has officially appointed third-generation heir Lee Jae-yong as executive chairman, two months after he secured a pardon of his conviction for bribing a former president in a corruption scandal that toppled a previous South Korean government.
South Korea to release Samsung scion on parole
South Korea says it will release billionaire Samsung scion Lee Jae-yong on parole this week after he spent 18 months in prison for his role in a massive corruption scandal that triggered nationwide protests and led to the ouster of the country’s previous president.
Samsung scion Lee won't appeal prison sentence for bribery
Samsung Electronics Vice Chairman Lee Jae-yong arrives at the Seoul High Court in Seoul, South Korea, Monday, Jan. 18, 2021. Samsung scion Lee will not appeal a court ruling that sentenced him to two and a half years in prison for bribing South Korea's then-president for business favors. But after mulling his options, Lee decided to “humbly accept” the High Court’s decision, his head attorney Injae Lee said. Prosecutors had sought a prison term of 9 years for Lee Jae-yong. It’s not immediately clear what his prison term would mean for Samsung's business.
SKorean court gives Samsung scion prison term over bribery
Samsung Electronics Vice Chairman Lee Jae-yong arrives at the Seoul High Court in Seoul, South Korea, Monday, Jan. 18, 2021. South Korean court sentences Lee to 2 and a half years in prison over corruption case. Samsung didn’t issue a statement over the ruling. Lee Jae-yong helms the Samsung group in his capacity as vice chairman of Samsung Electronics, one of the world’s largest makers of computer chips and smartphones. It isn’t immediately clear what his prison term would mean for Samsung.
S. Korean court upholds prison term for ex-president Park
FILE - In this Oct. 10, 2017, file photo, former South Korean President Park Geun-hye, left, arrives to attend a hearing on the extension of her detention at the Seoul Central District Court in Seoul, South Korea. South Koreas top court upheld 20-year prison term for Park over corruption on Thursday, Jan. 14, 2021. But the finalizing of her prison term also makes her eligible for a special presidential pardon, a looming possibility as the country’s deeply split electorate approaches the next presidential election in March 2022. Park originally faced a prison term of more than 30 years before the Supreme Court sent her cases back to a lower court in 2019. Prosecutors appealed after the Seoul High Court handed Park a 20-year term in July last year after merging the two cases.
Prosecutors seek 9-year prison term for Samsung chief Lee
Samsung Electronics Vice Chairman Lee Jae-yong is questioned by a reporter upon arrival at the Seoul High Court in Seoul, South Korea, Wednesday, Dec. 30, 2020. South Korean prosecutors on Wednesday requested a nine-year prison term for Samsungs de facto chief, Lee, during a retrial of his bribery charges. A team of prosecutors led by independent counsel Park Young-soo demanded the Seoul High Court sentence Lee to prison. Last year, the Supreme Court returned the case to the high court, ruling that the amount of Lee’s bribes had been undervalued. The Seoul High Court is to issue a ruling on Jan. 18, according to South Korean media reports.
EXPLAINER: How do other democratic nations select leaders?
SPAINIn Spain, the Congress of Deputies elects the prime minister. In 1996, this led to an awkward situation for the would-be prime minister. As votes were being counted, Jose Maria Aznar's conservative Popular Party thought it won enough seats to make him prime minister. Then, the party that wins the largest number of the 650 constituencies generally takes power, with the party leader becoming prime minister. That means the prime minister must officially be approved by the Queen’s representative in New Zealand, the governor-general.
Samsung reports record sales amid questions about future
FILE - In this June 8, 2020 file photo, Samsung Electronics Vice Chairman Lee Jae-yong arrives at the Seoul Central District Court in Seoul, South Korea. As Samsung Electronics mourns the death of its long-time chairman, Lee Kun-Hee, questions loom over what's next for South Korea's biggest company. The most crucial long-term question for Samsung is if it will evolve beyond being just a giant in memory chips, smartphones and display screens. Including the late Lee Kun-Hee’s 4.18% stake, the family combined holds a 5.79% of Samsung Electronics. But Samsung’s business likely would run smoothly even if Lee is imprisoned again, said Park Sangin, a professor at Seoul National University.
S. Korea's top court upholds ex-leader's 17-year jail term
FILE - In this March 14, 2018, file photo, former South Korean President Lee Myung-bak arrives for questioning over bribery allegations at the Seoul Central District Prosecutors' Office in Seoul, South Korea. South Koreas top court on Thursday, Oct. 29, 2020, upheld a 17-year prison term imposed on ex-President Lee over a range of high-profile corruption charges, a ruling that will send him back to jail again. (Kim Hong-Ji/Pool Photo via AP, File)SEOUL – South Korea’s top court upheld a 17-year prison sentence on former President Lee Myung-bak for a range of corruption crimes in a final ruling Thursday that will send him back to prison soon. The Supreme Court also confirmed a lower court ruling that ordered Lee to pay 13 billion won ($10.9 million) in fines and forfeit another 5.78 billion won ($4.6 million) for his crimes, court officials said. Before being elected president, Lee served as Seoul mayor.
Samsung's Lee indicted over controversial 2015 merger
The charges against Lee and the other Samsung officials include stock price manipulation, breach of trust, and auditing violations related to the 2015 merger between Samsung C&T Corp. and Cheil Industries, said Lee Bok-hyun, a senior official from the Seoul Central District Prosecutors Office. It went ahead despite opposition from some shareholders who said the deal unfairly benefited the Lee family. Lee was freed in February 2018 after the Seoul High Court reduced his term to 2 years and suspended his sentence, overturning key convictions. However, months later the Supreme Court sent the case back to the High Court, saying that the amount of bribes Lee was judged to have offered was undervalued. Some legal experts say Lee could be sentenced to another term in jail if convicted again.