Saturday, February 18, 2017

Samsung's leader arrested on bribe

Jay Y. Lee, a Samsung Group leader, was arrested just before on the suspect of bribe.

The special prosecutor's office accused Lee of sending a total of 30 million USD to Choi Soon-sil, a close friend of President Park Geun-hey. Choi is suspected to have committed leaking important information of the government. President Park is also harshly blamed on the unethical relationship with Choi.

Reuters: Samsung chief Lee arrested as South Korean corruption probe deepens

Thus, Lee was involved in a scandal of the Korean government. Samsung and Lee deny any misconducts about this issue.

Korean prosecuting office had targeted on Samsung for several months. A previous calling for arrest submitted by the prosecutor was declined by the court in January. The court did not permit arresting the president of Samsung.

Samsung is the biggest Korean company, and have great influence on the world economics. However, the recent incident that of Galaxy Note, a flagship phablet series was forced to be recalled because of firing battery inflicted severe damage on the reputation of the company. This scandal will also adversely affect its stock price.

My past entry: Galaxy Note 7 recalled by explosive failure

Korea is suffering from the unhealthy relationship among domestic powers such as financial groups. Some years ago, a daughter of Korean Air Lines founder ignited criticism for her rude behavior in the aircraft.

My past entry: Nut rage case in Korean Air

Korean prosecutor seems eager to ban corruption in the society. On the other hand, the government relies heavily on giant companies. I wonder how political and economic power are regulated there.


No comments:

Post a Comment