Samsung Heir Faces Nine Year In Prison For Bribery

Special prosecutors have proposed a verdict for the executive vice president of Samsung, who is going to be the next leader of the South Korean tech giant. The final verdict on Lee’s fate will be announced on January 18.

The prosecutors also mentioned that while Samsung undoubtedly had had positive effects on society positively with its economic contribution, the legal enforcement should still be imposed.

The 52-year-old billionaire was involved in the incident that not only sent him to jail but also overthrew former South Korean President Park Geun Hye. The final verdict may continue to affect Samsung because Lee is expected to be officially in charge of the South Korean tech giant after his father passed away in October.

According to the indictment, Lee used gifts to strengthen his control over the world’s largest phone maker, helping him advance. Previously, Lee had spent one year in prison before being released in 2018 after the initial five-year sentence was halved and then suspended by the appeals court.

However, in August, the Supreme Court rejected that decision. This time, Lee faced a tougher sentence, at least 5 years in prison, as the number of bribes the court had previously recorded had been determined to increase. But, experts point out that the chance of Lee being jailed may decrease when the full session ends.

The judges in the high court have asked Samsung and Lee to take steps to prevent illegal activities and enhance the reputation of the corporate. Lee has responded by forming an independent legal compliance committee and issued a personal apology in May for his past mistakes in the succession process.

He also pledged publicly not to hand over the leadership of Samsung to his children. The activity of this committee will be counted as a form of extenuation.

The bribery allegations came from a controversial 2015 merger between two Samsung units that gave Lee control of the corporate. Prosecutors stated that Samsung had donated horses and other financial contributions through an intermediary to a trusted person of the former President to win government support for that deal.

At the moment, Lee remains Samsung’s executive vice president and de facto leader. Samsung is likely to postpone the succession process until the cases are over.

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