Samsung Vice Chairman Arrested In Corruption Investigation
Samsung Group vice chairman Jay Y. Lee has been arrested as part of an ongoing investigation into corruption in South Korea.
A South Korean Court originally rejected a request to arrest Lee last month, but after the presentation of additional evidence and allegations by prosecutors, the judge said the court would “acknowledge the cause and necessity of the arrest.”
Samsung is accused of paying 43 billion won ($49 million) to ensure a merger of two Samsung affiliates would receive government approval. The money was allegedly paid to organisations connected to Choi Soon-sil, a close friend of South Korean President Park Geun-hye.
President Park was impeached in December last year as part of a corruption scandal. All parties involved have denied the allegations against them.
“We will do our best to ensure that the truth is revealed in future court proceedings,” Samsung said in a statement.
It is expected that Lee would become chairman of Samsung after his father and current chairman Lee Kun-hee suffered a heart attack in 2014.
Prosecutors had also requested the arrest of Samsung Electronics president Park Sang-jin, but the court determined the arrest was not necessary due to his “position, the boundary of his authority and his actual role” within the company.