A PYMNTS Company

South Korea: Samsung heir Lee Jae-yong arrested

 |  February 17, 2017

Samsung’s heir apparent Lee Jae-yong has been placed under arrest in South Korea, accused of bribery and other charges.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The case is linked to a scandal that led to the impeachment of President Park Geung-hye.

    Samsung is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of Ms Park, in exchange for government favours.

    Mr Lee and the Samsung Group deny any wrongdoing.

    The acting Samsung chief was first questioning by prosecutors in January, but they decided then not to arrest him. But he was questioned for a second time earlier this week.

    On Friday, the court said it “acknowledged that it is necessary to arrest [Lee Jae-Yong] in light of a newly added criminal charge and new evidence.”

    The prosecution will now investigate further have 20 days to file formal charges. The arrest does not reflect a court opinion on guilt or innocence but only means it considers the potential crime very serious or that it assumes a flight risk.

    Full Content: Yonhap News Agency

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.