Lee Jae-yong

Like father, like son: Samsung heir convicted

Seoul - Muslimchronicle

Samsung heir Lee Jae-Yong has spent his life trying to prove himself worthy of his father's legacy, and on Friday he followed in the older man's footsteps by being convicted in the same courtroom. Lee, 49, is vice chairman of Samsung Electronics, the world's largest smartphone maker and the flagship of the Samsung Group founded by his grandfather in 1938.Read more

Samsung heir guilty of bribery, sentenced to five years jail

Seoul - Muslimchronicle

The heir to the Samsung business empire, which includes the world's biggest smartphone maker, was sentenced Friday to five years in prison for bribery and other offences in connection with the scandal that brought down South Korean president Park Geun-Hye. Lee Jae-Yong's penalty could leave the giant firm rudderless for years and hamper its ability to make key investment decisions.Read more

Prosecutors seek 12 years' jail for Samsung heir

Seoul - Muslimchronicle

South Korean prosecutors on Monday demanded the heir to the Samsung empire be jailed for 12 years over his role in the corruption scandal that brought down the country's last president. At the final hearing in the trial of Lee Jae-Yong, the vice chairman of Samsung Electronics, prosecutors called him the "ultimate beneficiary" of crimes committed in the scandal, andRead more

Samsung Electronics expects Q1 profits to jump

Seoul - Arab Today

Embattled Samsung Electronics said Friday it expects profits to jump by half in the first quarter, despite a smartphone recall fiasco and the arrest of its de facto head. The forecast will come as welcome news to the South Korean giant after a torrid period in which it had to ditch its flagship Galaxy Note 7 after several battery fires.Read more

Samsung heir accused of bribery, perjury

Seoul - Arab Today

The heir to the huge Samsung business empire appeared in court Friday at the start of his trial for embezzlement and perjury, part of a corruption scandal that brought down South Korea's president. Lee Jae-Yong, the vice-chairman of Samsung Electronics, was brought into the Seoul Central District Court bound and handcuffed. Lee, who was arrested in February, has been chargedRead more

Samsung backs away from planned split

Seoul - Arab Today

The world’s biggest smartphone maker, Samsung, assailed by a shambolic recall and embroiled in South Korea’s wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring. Following the embarrassing recall of the Galaxy Note 7 smartphone and under pressure from activist shareholders to improve corporate governance, Samsung Electronics said last year that it was considering splitting the companyRead more

Boiling point: pressure mounts on South Korea's chaebols

Seoul - ArabToday

Once a driver of growth and a source of national pride, South Korea's family-led conglomerates are becoming instead objects of public scorn as a massive corruption scandal puts them under mounting pressure to reform. Tuesday's indictment of the heir to the Samsung empire, Lee Jae-Yong, and four of his colleagues on charges of bribery and embezzlement was the latest setbackRead more

Samsung heir indicted for bribery, embezzlement

Seoul - Arab Today

The heir to the Samsung empire and four other top executives were indicted Tuesday on multiple charges including bribery and embezzlement, South Korean prosecutors said in the latest blow to the world's biggest smartphone maker. The presentation of formal charges against Lee Jae-Yong and his colleagues makes them almost certain to face trial, casting new uncertainty over South Korea's biggestRead more

Court approves arrest of Samsung heir

Seoul - Arab Today

A South Korean court approved on Friday the arrest of a billionaire heir to Samsung accused of bribery and other charges in connection to a massive corruption scandal, a stunning decline for the princeling of South Korea’s richest family. The Seoul Central District Court’s decision to issue a warrant to arrest Lee Jae-yong, 48, a vice chairman at Samsung ElectronicsRead more

Samsung's history tainted by run-ins with the law

Seoul - ArabToday

The sprawling conglomerate now so dominates South Korea that citizens joke they live in the “Republic of Samsung”. But three generations of the Lee family have faced charges including tax evasion and bribing government officials. The heir to the business, Lee Jae-Yong, was arrested Friday as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye toRead more