Samsung heir Lee appears in court for corruption retrial

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Billionaire Samsung scion Lee Jae-yong appeared in court Friday for a retrial on corruption allegations linked to a 2016 scandal that spurred massive street protests and sent South Korea’s then-president to prison.

Some experts said a jailed Lee would hurt Samsung’s decision-making process at a critical time as the company grapples with instability in the semiconductor market and ramifications from the trade war between the United States and China.

Lee’s case, which highlights a culture of corruption between South Korean business groups and politicians, could take months and even more than a year if he or the prosecutors appeal again to the Supreme Court. Lee was freed in February 2018 after the Seoul High Court reduced his term to 2 ½ years and suspended his sentence, overturning key convictions and shaving the bribe total by more than a half.

Source: Law Daily Report (lawdailyreport.net)

 

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