Samsung leader will be indicted for bribing South Korean President

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According to the office of South Korea's special prosecutor, Lee Jae Yong, Samsung Vice President will be indicted on charges of bribing South Korean President Park Geun-hye, embezzlement and also hiding assets overseas.

Samsung leader will be indicted for bribing South Korean President

Lee's father, Samsung's previous owner was hospitalized following a heart attack in 2014 and since then, Lee had been acting chief of the company. To gain control over Samsung group, he bribed the President which resulted in imprisonment. Looking at this development, Samsung announced about disbanding its corporate strategy office which was responsible for company's important decisions.

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Few other Samsung executives have also been charged, including Choi Gee-sung, Corporate Strategy Office Vice Chairman and President Chang Choong-ki. All executives charged in the case will soon step down from their position wherein, Choi Gee-sung has already left the company. This case will bring down South Korea's President too.

Lee admitted his bribery but denied political gain out of it. If Lee is found guilty, it could have a fatal impact on Samsung as a brand and the company's operations, both in their native land and overseas, will somehow be affected.

 

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