The Strategist

Samsung head sentenced to 2.5 years for corruption

01/19/2021 - 02:36

A court in South Korea has sentenced the head and heir to the Samsung Group business, Lee Jae-yong, to 2.5 years in prison, Reuters reports.

He was found guilty of bribery and embezzlement of about 8.7 billion won ($7.8 million) in connection with the scandal that toppled the country's first female president, Park Geun-hye.

Mr. Lee was charged with bribery as part of a corruption investigation in early 2017. Then, he spent about a year in prison and was released. 

The Supreme Court later sent the case back to the Seoul High Court. The new charges were brought against him despite the fact that a public commission had earlier recommended that the prosecutor's office drop all charges against Mr. Lee and stop investigating the circumstances surrounding the power transfer to the Samsung Group.

Lee Jae-yong effectively took over Samsung Group's management in 2014 after his father Lee Kun-hee stepped down for health reasons. In October 2020, Lee Kun-hee died in hospital in Seoul.