S Korean In­ves­ti­ga­tors to Again Sum­mon Sam­sung Heir Jay Y Lee

The Economic Times - - Around The World -

Seoul: 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 on Sun­day.

Bil­lion­aire Lee, 48, is ac­cused of par­tic­i­pat­ing in pay­ments that Sam­sung made to a close friend of South Korean President Park Ge­un­hye in ex­change for govern­ment sup­port in the com­pany’s suc­ces­sion plan­ning. A Seoul court re­jected pros­e­cu­tors’ re­quests to ar­rest Lee on Jan­uary 19, say­ing there wasn’t enough ev­i­dence to keep Lee in jail based on the facts pre­sented about al­leged­pay­mentsan­dother charges.

Pros­e­cu­tors will de­cide whether to again seek an ar­rest war­rant for Lee by next week, af­ter col­lect­ing ad­di­tional in­for­ma­tion from Mon­day’s in­ves­ti­ga­tion, the pros­e­cu­tion spokesman said. A pro­longed in­ves­ti­ga­tion into the lat­est po­lit­i­cal scandal could po­ten­tially de­rail suc­ces­sion plans at Sam­sung.

Jay Y Lee

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