Heir of technology
giant 'Samsung' - Lee Jae-yong, 48, has been arrested in connection with South
Korea’s political corruption scandal. He is the highest-profile business figure
engulfed by the influence-peddling scandal that is poised to topple President
Park Geun-hye, who was accused of soliciting funds from major corporations for
her non-profit foundations in return for political favours.
She has since been
stripped of her powers while the constitutional court deliberates her
impeachment by parliament.
Lee Jae-yong who is
actually the vice-chairman of Samsung Electronics and grandson of the group’s
founder, has been leading the Samsung Group since his father and chairman Lee
Kun-hee was hospitalised with a heart attack in 2014. Restructuring plans have
been in motion to make him the official leader.
Lee who normally lives
in a $4million mansion in the capital Seoul, is being held in a cell after
being accused of paying about Won43bn ($37m) in bribes to a confidante of
President Park Geun-Hye to secure policy favours to smooth his succession and
more. Although he admitted making political donations to Ms Park, he denied
that they were aimed at getting any business favours in return.
The judge rejected
prosecutors’ request to arrest Park Sang-jin, the president of Samsung
Electronics, who was involved in arranging the financial support for Ms Park,
but claims he was following Mr Lee’s orders.
Lee has also accused
him of hiding assets overseas, concealing profits made from illicit business
activities and lying under oath during a parliamentary hearing about his role
in the influence-peddling scandal.
In a statement
addressing his arrest, Samsung said: “We will do our best to ensure that the
truth is revealed in future court proceedings.”
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