Category: Park Geun-hye

The Latest: Ousted S.Korea leader leaves presidential palace

In this Saturday, Feb. 25, 2017, file photo, a South Korean national flag with a picture of impeached South Korean President Park Geun-hye is seen during a rally opposing her impeachment in Seoul, South Korea. Hundreds of police officers, reporters and supporters of the ousted president have gathered near her Seoul home in anticipation of her return from the presidential palace.

Samsung head Jay Y Lee denies bribery, embezzlement charges in Seoul trial

Jay Y. Lee, co-vice chairman of Samsung Electronics, is at the centre of a growing bribery, perjury and embezzlement scandal in South Korea. The head of South Korea’s Samsung Group, Jay Y. Lee, denies all charges against him, his lawyer said on Thursday, at the start of what the special prosecutor said could be the “trial of the century” amid a political scandal that has rocked the country.

Prosecutor Says Samsung Scandal a Sign of – Chronic Corruption’

South Korea’s special prosecutor accused Jay Y. Lee and other Samsung Group executives of conspiring to create fake documents to mask millions of dollars in bribes funneled to a confidante of the nation’s president. Lee, the de facto head of Samsung, is alleged to have committed perjury when he said he didn’t know his company had paid money to entities controlled by Choi Soon-sil, and that he wasn’t asked by President Park Geun-hye to provide financial support.

Where South Korea’s Teetering, Debt-Laden Companies Go to Bank

South Korea’s state-owned lender, the nation’s largest policy bank, and other creditors turned down a bailout request from Hanjin, then one of the world’s biggest shipping lines. That in turn led to a bankruptcy filing in Seoul and a major disruption in global shipping as more than 90 Hanjin ships were marooned offshore and ports in the U.S., Asia and Europe turned the company’s ships away.

Korean Prosecutors to Indict Samsung Heir on Graft Charges

South Korea’s special prosecutor plans to indict Jay Y. Lee, the de facto head of Samsung Group, on bribery charges in the latest blow to the country’s largest conglomerate amid a generational handover. Lee will stand trial over accusations he participated in bribes made in exchange for government favors, with formal changes to be filed Tuesday against him and four other executives.

Korean Prosecutors to Indict Samsung Heir on Graft Charges

South Korea’s special prosecutor plans to indict Jay Y. Lee, the de facto head of Samsung Group, on bribery charges along with four other executives, dealing a blow to the country’s largest conglomerate as it prepares for a generational handover. Formal charges would mean Lee stands trial over accusations of involvement in bribes for government favors.

Qualcomm Says Samsung Scandal Weakens Korea Antitrust Ruling

The corruption scandal rocking South Korea has given Qualcomm Inc. another way to challenge a big antitrust fine threatening its most profitable business. Jay Y. Lee, heir to the top job at Samsung Group, was arrested last week on allegations he was involved in paying billions of won to a friend of South Korean President Park Geun-hye, in exchange for government support of his succession.

Samsung Heir Lee Arrives Shackled at Special Prosecutors Office

South Korean police on Saturday led Jay Y. Lee, hands bound with rope, into a special prosecutors office after arresting the de facto head of the country’s largest industrial conglomerate in a corruption probe that includes allegations of bribery. Lee, vice chairman of Samsung Electronics Co., was shown on a YTN television broadcast being led into the office in Seoul around 2:20 p.m. local time after spending his first night in police custody.

Samsung Heir Jay Y. Lee Is Arrested on Bribery Allegations

Samsung Group’s Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker. The Seoul Central District Court issued the warrant for Lee’s arrest early Friday.

Samsung Chief Lee Arrested as South Korean Corruption Probe Deepens

Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal rocking the highest levels of power in South Korea, dealing a fresh blow to the world’s biggest maker of smartphones and memory chips. The 48-year-old Lee, scion of the country’s richest family, was taken into custody at the Seoul Detention Centre after waiting there overnight for the decision.

Samsung’s Lee Again Faces Arrest Warrant in Graft Probe

South Korean prosecutors are again seeking to arrest Samsung Group’s Jay Y. Lee, citing new allegations of bribery and dealing another blow to a business empire mired in a nationwide corruption scandal. Investigators want Lee taken into custody, after a first attempt in January was rejected by a court due to a lack of evidence, said Hong Jung-seok, a spokesman for the special prosecutor’s team overseeing the probe.

South Korea Prosecutor Resummons Samsung Heir Jay Y. Lee

A special prosecutor is again questioning Samsung Group’s Jay Y. Lee over allegations including bribery and embezzlement, potentially dealing another blow to South Korea’s biggest business empire. Lee, the de facto head of the Samsung Group and vice chairman of Samsung Electronics Co., was called in for questioning Monday morning, along with two other executives including Samsung Electronics President Park Sang-jin.

South Korea Prosecutor Plans to Resummon Samsung Heir Jay Y. Lee

A special prosecutor will again summon Samsung Group’s Jay Y. Lee over allegations including bribery and embezzlement, potentially dealing another blow to South Korea’s biggest business empire after a court rejected its request to issue an arrest warrant last month. Lee, the de facto head of the Samsung Group and vice chairman of Samsung Electronics Co., will be summoned Monday morning, along with two other executives including Samsung Electronics President Park Sang-jin, Lee Kyu-chul, a spokesman for the prosecutor’s office, told reporters in a televised briefing on Sunday.

South Korea Court Rejects Arrest of Samsung Heir Jay Y. Lee

A court in South Korea turned down prosecutors’ request to arrest Samsung Group’s Jay Y. Lee on alleged bribery, perjury and embezzlement, letting him stay in place atop the country’s most powerful company while they continue their investigation. The court said there wasn’t enough evidence to keep Lee in jail based on the facts presented about alleged payments and other charges.

South Korea Court Rejects Arrest of Samsung Heir Jay Y. Lee

A court in South Korea turned down prosecutors’ request to arrest Samsung Group’s Jay Y. Lee on alleged bribery, perjury and embezzlement, letting him stay in place atop the country’s most powerful company while they continue their investigation. There wasn’t enough reason or necessity to justify the arrest, Seoul Central District Court Judge Cho Eui-yeon said in a statement Thursday morning in South Korea.

Prosecutor Makes Case Today for Putting Samsung Heir in Jail

A special prosecutor in South Korea is making his case today for arresting Samsung Group’s heir apparent on suspicion of paying bribes for political favors from the country’s president. Samsung’s Jay Y. Lee appeared this morning at a court hearing on the prosecutor’s request for an arrest warrant, walking through a throng of reporters without comment.

Samsung Succession in Disarray as Lee Criminal Case Advances

The long-orchestrated plan to cement Jay Y. Lee’s position atop Samsung Group may put him in jail instead, raising questions about who would step in to run South Korea’s biggest conglomerate in the aftermath. Prosecutors are seeking Lee’s arrest on allegations including bribery and embezzlement, which if proven could prompt him to relinquish duties at the family business.

Samsung Succession in Disarray as Lee Criminal Case Advances

The long-orchestrated plan to cement Jay Y. Lee’s position atop Samsung Group may put him in jail instead, raising questions about who would step in to run South Korea’s biggest conglomerate in the aftermath. Prosecutors are seeking Lee’s arrest on allegations including bribery and embezzlement, which if proven could prompt him to relinquish duties at the family business.

South Korea Prosecutor Seeks Arrest of Samsung’s Jay Y. Lee

Prosecutors are seeking a warrant to arrest Samsung Group’s Jay Y. Lee for allegations including bribery and embezzlement, a stunning turn for the scion of South Korea’s richest family groomed for decades to take over the company from his father. Lee, 48, the de facto head of the Samsung Group and vice chairman of Samsung Electronics Co., is accused of participating in payments that Samsung made to a close friend of South Korean President Park Geun-hye in exchange for government support in the company’s succession planning.

Samsung boss questioned in South Korea corruption probe

Samsung chief Lee Jae-yong is being questioned at the prosecutor’s office in Seoul as a suspect in South Korea’s biggest political corruption scandal. The firm is accused of giving donations to several non-profit foundations operated by Choi Soon-sil, a confidante of President Park Geun-hye.

An $830,000 Horse, a Presidential Scandal and Samsung Succession

Samsung Group is getting pulled deeper into the scandal engulfing South Korea’s president with prosecutors homing in on whether an $830,000 horse and millions in other payments were made to smooth succession at the top of the country’s largest company. Special prosecutors summoned two top Samsung executives to answer questions Monday about the company’s role in an alleged influence-peddling scheme that has already led to President Park Geun-hye’s impeachment.

Samsung Executives to Be Questioned by Korean Prosecutors

Samsung executives have been summoned by South Korean special prosecutors amid a widening influence-peddling scandal that brought about South Korean President Park Geun-hye’s impeachment. Samsung Corporate Strategy Office Vice Chairman Choi Gee-sung and President Chang Choong-ki were asked to come in for questioning, Hong Jung-seok, a spokesperson for the special prosecutors office, told Bloomberg News via text message on Sunday.