Samsung has been running into a plentitude of struggles and losses recently. Jay Y. Lee, the Samsung Global Vice Chairman and Acting Head is facing arrest in attempting to bribe Park Geun-hye, the President of South Korea. The news appears through New York Times, very soon after Park Geun-hye was questioned about her integrity apropos several reports of corruption.
Choi Soon-sil, supposed assistant of Ms. Park, has utilized her station to fund two foundations under her control, from the capital she intended to solicit from various business corporations. Therefore, in return for legislative favors, Mr. Lee allegedly has ordered Samsung Subsidiaries intending to making huge (millions of dollars) donations to the foundations owned by Ms. Choi and her family.
Mr. Lee has also been convicted of bribery before this incident, with the end goal of tax evasion. But each and everytime, his sentence was adjourned, and subsequently, all his criminal records were also obliterated.
“If Mr Lee is arrested, it will be a landmark in South Korea’s efforts to fight corruption in the country’s powerful family-controlled conglomerates,” … “And could disrupt his efforts to inherit management control of Samsung.” – The New York Times.
While Mr. Lee claims the donations were involuntary, hinting they were forced on them, Ms. Choi is in denial of any misconduct. As The New York Times adds, the arrest warrant for Mr. Lee has been filed, but it could take a short period of time, probably a few days, for the Seoul court to approve it.
