Samsung’s Jay Y. Lee Will Be Charged with Bribery

Posted by at 10:49 am on February 28, 2017

The special prosecutor’s office in South Korea today said it will charge Samsung Executive Jay Y. Lee in a bribery case that has shaken the country. Lee isn’t standing alone, however, as the special prosecutor is eying four other Samsung executives.

“The five executives will face charges including bribery, embezzlement and hiding assets overseas,” said Lee Kyu-chul, a spokesperson for the prosecutor’s office.

Samsung’s Lee was arrested earlier this month on the charges. The case also involves President Park Geun-hye, who was impeached by the Korean government in December 2016. Lee and others are alleged to have paid Park to help facilitate certain business dealings.

On March 6, the special prosecutor plans to make an announcement regarding its investigation into President Park. Samsung SDI, the company’s memory and business, today named Jun Young-hyun as CEO. Jun will be officially appointed next month.

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