The Mercury News Weekend

Samsung’s heir is arrested

Lee accused of bribery, other charges in wide corruption scandal

- By Youkyung Lee

SEOUL, South Korea — A South Korean court approved on Friday the arrest of a billionair­e heir to Samsung accused of bribery and other charges in connection to a massive corruption scandal, a stunning decline for the princeling of South Korea’s rich- est family.

The Seoul Central District Court’s decision to issue a warrant to arrest Lee Jae-yong, 48, a vice chairman at Samsung Electronic­s and the only son of Samsung chair Lee Kun-hee.

The arrest of Samsung’s de facto leader will likely shock the business community and cheer the critics of chaebol, the South Korean family-controlled business conglomera­tes that dominate the economy.

It was seen as a test of the country’s judicial system that in the past had been lenient toward the powerful business elite families at chaebol for their white collar crimes, citing their contributi­ons to the national economy.

The court said additional evidence showed there were enough reasons to take Lee into custody. Prosecutor­s can detain him for up to 20 days before formally indicting him.

The court dismissed prosecutor­s’ request to arrest Park Sang-jin, a president at Samsung Electronic­s overseeing external relations, saying that it was difficult to justify Park’s arrest given his position and role within the company.

Lee was waiting for the decision at a detention center near Seoul overnight after a closed-door court hearing that lasted more than seven hours on Thursday. He was taken into custody while Park was released. Local media reported that Lee was sent to solitary confinemen­t.

Samsung said it will continue to defend itself in court.

“We will do our best to ensure that the truth is revealed in future court proceeding­s,” it said in a statement.

Newspapers in English

Newspapers from United States