Samsung’s Lee jailed

Seoul: A South Korean court has sentenced Samsung Electronics vice chairman Jay Y. Lee to two and ahalf years in prison, which will have major ramifications for his leadership of the tech giant as well as Korea’s views about big business.

Lee will be sidelined from decisions at Samsung and from overseeing inheritance from his father, Lee Kunhee, who died in October, crucial to keeping control of the business.

Lee (52) was convicted of bribing an associate of former South Korean President Park Geunhye and jailed for five years in 2017. He denied wrongdoing, the sentence was reduced and suspended on appeal, and he was released after serving a year; the Supreme Court then sent the case back to the Seoul High Court, which issued yesterday’s ruling. — Reuters