Samsung Heir Jay Y. Lee Jailed For 5 Years Smp Blogs

Samsung Heir Jay Y. Lee Jailed For 5 Years In Bribery Case

South Korean court has sentenced Samsung heir Lee Jaeyong also known as Jay Y. Lee to five years in jail in a bribery case. Lee, who is son of Samsung chairman Lee Kunhee and vice chairman at one of the biggest technology companies in the world, has denied that he bribed country’s former president Park Geunhye to seek political favours. But the court apparently found enough evidence to sentence him to jail.

Reuters reports that while sentencing Lee, 49, to jail the Seoul Central District Court was delivering its verdict on charges against him that range from bribery to perjury in a scandal that led to the ouster in March of the then president Park.

Although the sentencing Lee is not likely to have any impact on Samsung’s business, it sure is going to affect the company brand and reputation in some way. The case also highlights the politician businessman nexus in South Korea and the way chaebol large family owned corporations rule the business landscape in the country.

Samsung lawyers, meanwhile, have said that they will file an appeal against the court order. A lawyer for Samsung Group leader Jay Y. Lee said on Friday the defense team could not accept a court ruling to jail Lee for five years for bribery and will appeal against the decision.

“We are confident the ruling will be overturned,” lawyer Song Wucheol told reporters after the ruling by the Seoul Central District Court. 

Related Technologies
Samsung Replaces Amitabh Bachchan’s Note 7
Bollywood's 'angry young man' Amitabh Bachchan is a happy man now, mostly because Samsung has replaced his faulty Galaxy Note 7 smartphone. The actor had earlier took to Twitter and ...
Read this technology
Samsung May Consider Split In Two
South Korea's Samsung Electronics Co Ltd will consider splitting itself into two as proposed by U.S. activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed ...
Read this technology
Samsung Galaxy J3 Listed Online, Comes With Super AMOLED Display
South Korean giant Samsung may launch a new Galaxy J-series phone. The Galaxy J3 has been listed on Samsung's official website for China along with its full spec sheet, although ...
Read this technology
This Is The Processor That Will Power Samsung Galaxy S7
Samsung Electronics Co Ltd will use Qualcomm Inc's mobile processors for some of its upcoming flagship Galaxy S smartphones, South Korea's Electronic Times reported citing unnamed industry sources. The paper said ...
Read this technology
Samsung Did Not Infringe Nvidia Graphics Chip Patents
Samsung Electronics Co Ltd has been cleared on its use of graphics chip technology owned by Nvidia Corp without permission, in a U.S. International Trade Commission ruling on Friday. Judge Thomas ...
Read this technology
Samsung Electronics Acquires Harman
Samsung Electronics on Saturday announced it has formally completed the acquisition of Harman International Industries in an $8 billion deal with the automotive technology manufacturer. Joining forces with Harman "is ...
Read this technology
Samsung Electronics Plans More Tizen Smartphones This Year
Leading smartphone maker Samsung Electronics Co plans to launch more handsets running on its own Tizen operating system later this year, a person with knowledge of the matter told Reuters ...
Read this technology
Tizen Second-Largest Mobile OS In India: Samsung
South Korean electronics major Samsung on Wednesday said its proprietary mobile-based operating system (OS) Tizen has the second-largest market share in the budget segment of smartphones in India after Google's ...
Read this technology
Samsung Replaces Amitabh Bachchan’s Note 7
Samsung May Consider Split In Two
Samsung Galaxy J3 Listed Online, Comes With Super AMOLED Display
This Is The Processor That Will Power Samsung Galaxy S7
Samsung Did Not Infringe Nvidia Graphics Chip Patents
Samsung Electronics Acquires Harman
Samsung Electronics Plans More Tizen Smartphones This Year
Tizen Second-Largest Mobile OS In India: Samsung

Leave a Reply

Your email address will not be published. Required fields are marked *

Note: Please do not post any URLs, it will not publish