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Samsung heir questioned in South Korea's sensational bribery scandal
- The de facto head of South Korea's enormous Samsung conglomerate was questioned for a marathon 22 hours as a suspect in a widening bribery scandal that has already seen the country's president suspended from duty.The prosecutors' allegations against Lee Jae-yong, arguably South Korea's most powerful man, show that there is no end in sight to the sensational corruption and influence-peddling scandal that has brought South Korea to a political halt."I deeply apologize to the people for failing to show a positive image because of this incident," Lee said as he arrived at the prosecutors' office in Seoul on Thursday morning.He is officially vice chairman but has been running the conglomerate since his father had a heart attack almost three years ago.
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Key Samsung shares steady, market awaits South Korea prosecution decision on leader
- Samsung Electronics vice chairman Jay Y. Lee is surrounded by media as he leaves the office of the independent counsel in Seoul, South Korea, January 13, 2017.Kim Do-hoon/Yonhap via REUTERS/FilesSamsung Electronics vice chairman Jay Y. Lee is surrounded by media as he leaves the office of the independent counsel in Seoul, South Korea, January 13, 2017.Kim Do-hoon/Yonhap via REUTERSSEOUL Shares of Samsung Electronics Co Ltd and Samsung C&T Corp were steady in early trade on Monday, ahead of a South Korean special prosecutor's decision on whether to seek an arrest warrant for Samsung Group's leader.The prosecutor is set to decide later in the day on whether to seek the arrest of Jay Y. Lee, the third-generation leader of South Korea's largest conglomerate, in connection with an influence-peddling investigation involving the president.
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South Korea Indicts Pension Chief Involved in Samsung Merger
- SEOUL—South Korean prosecutors on Monday indicted the head of the country's National Pension Service, as investigators tightened their focus on a 2015 merger of two Samsung affiliates that has pulled the Samsung conglomerate's heir apparent into a wide-ranging political corruption scandal.A spokesman for the special prosecutor's office said Monday that they had indicted Moon Hyung-pyo, the chairman of the National Pension Service,...
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Samsung Group Leader Is Named a Suspect in South Korean Bribery Inquiry
- PhotoSEOUL, South Korea — A special prosecutor investigating the corruption scandal that led to President Park Geun-hye's impeachment summoned the de facto head of Samsung for questioning on Wednesday, calling him a bribery suspect.The de facto leader, Jay Y. Lee, the vice chairman of Samsung, will be questioned on Thursday, according to the special prosecutor's office, which recommended that he also be investigated on suspicion of perjury.Mr. Lee effectively runs Samsung, South Korea's largest conglomerate; he is the son of its chairman, Lee Kun-hee, who has been incapacitated with health problems.He is expected to be asked whether multimillion-dollar donations that Samsung made to two foundations controlled by Choi Soon-sil, a longtime friend of the president, amounted to bribes, and what role, if any, he played in the decision to give the money.
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Samsung boss faces arrest warrant in South Korea
- Prosecutors in South Korea are seeking an arrest warrant for Jay Y Lee, the de facto head of Samsung, accusing him of making bribes in exchange for government support.Mr Lee, the long-time heir to the Samsung dynasty, is accused of participating in payments to a friend of South Korea's president Park Geun-hye in order to smooth over his ascent to power and the merger of two Samsung businesses in 2015.The corruption scandal is the latest crisis for Samsung, coming months after its botched launch of the Note 7 phone.Samsung said it denies the allegations.
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