Samsung heir, and the company’s current vice chairman, Lee Jae-Yong has been in the news for all the wrong reasons lately. Samsung has been accused in South Korea of playing a major role in the Presidential elections, and Lee has been accused of bribing the president. Court hearings have been going on for months, and while the first warrant against him was rejected in January, he wasn’t lucky the second time.
Lee Jae-Yong has now been arrested following the second warrant. He appeared in court yesterday to try and avert the arrest, but the court did not reject the warrant this time. The accusation against him is that Lee has been bribing organizations run by the President in exchange for political favors.
Lee Jae-Yong’s arrest is indeed a big news as not only is he one of the most powerful businessmen in South Korea, but in the world. The heir to Samsung, one of the biggest names in global technology has now been arrested. Lee Jae-Yong is the grandson of the founder of Samsung, Lee Byung-Chul. Inheritance of business is a tradition in South Korea.
The judicial system was investigating Lee Jae-Yong’s involvement in the scandal for weeks now, and finally the judgment has come today leading to his arrest. He was questioned for over 10 hours earlier this week, and it looks like the Samsung heir is indeed involved in some malpractices. While the nation at large is outraged over the corruption scandals in the government, Samsung’s involvement is likely to add to the public’s anger.
Samsung has many big launches coming up in the next few months, with the Samsung Galaxy Tab S3 all set to launch at the MWC 2017, and the Samsung Galaxy S8 expected to launch some time in March. Samsung’s smartphone division is likely to be unaffected by the arrest of Lee Jae-Yong.