Seoul, January 18: A South Korean court on Monday sentenced Samsung Electronics' Vice Chairman and heir Jay Y Lee to two and a half years, nearly 30 months in jail over bribery charges. Lee was charged and convicted of bribing an associate of former South Korean President Park Geun-hye in 2017 and was handed over an imprisonment of five years. Samsung Chairman Lee Kun-Hee Dies at 78 in Seoul Hospital.
However, Lee denied all the accusations against him and was freed from prison after an year. Following which the Supreme Court had sent the case back to Seoul High Court which sentenced him for additional two and a half years in jail. As per reports, post the court's new order the vice-chairman of world's largest electronics firm will be sidelined from in making any key decisions for the firm.
This comes at a time when the firm is looking forward to overtake its competitors and further expand its global business. Lee's father and the chairman of Samsung Electronics, Lee Kun-hee had passed way in October last year. His accession is reportedly to be delayed until freed from the prison.
(The above story first appeared on LatestLY on Jan 18, 2021 05:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).