SEOUL, Oct. 16 (Korea Bizwire) – Samsung Electronics CEO and Vice Chairman Kwon Oh Hyun’s decision to resign by March of next year has left Samsung Group Vice Chairman Lee Jae Yong as the clear successor to his father as the head of the Samsung empire. After the resignation of fellow Vice Chairman Choi Ji [...]
SEOUL, Sept. 19 (Korea Bizwire) — Samsung Electronics Co.’s reputation plunged in 2017 compared with the year before, industry data showed Tuesday, apparently due to the arrest of its de facto head coupled with the Galaxy Note 7 debacle. According to the U.S.-based Reputation Institute, Samsung’s ranking in terms of corporate social responsibility plunged 69 [...]
SEOUL, Sept. 6 (Korea Bizwire) – The mother and two sisters of Samsung Electronics Vice Chairman Lee Jae-yong have recently visited him at a detention center, legal sources said Wednesday. The Samsung heir was sentenced to five years in prison on Aug. 25 for giving 43 billion won (US$38 million) in kickbacks to ousted President [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung Electronics Vice Chairman Lee Jae-yong filed for an appeal Monday, three days after a court sentenced him to five years in jail for bribery, embezzlement and other charges in a corruption case that led to the ouster of former President Park Geun-hye. His attorney, Kim Jong-hoon, submitted the [...]
SEOUL, Aug. 28 (Korea Bizwire) – Foreign stakeholders may expand their intervention in management decisions at Samsung Electronics Co. aftera Seoul court found its vice chairman de facto leader guilty of bribery, market watchers warned Sunday. Foreign investors who collectively hold more than 50 percent stake in the world’s largest smartphone manufacturer may demand the company’s board of directors be replaced as Vice Chairman Lee Jae-yong on Friday was sentenced to [...]
SEOUL, Aug. 25 (Korea Bizwire) – A lower court in Seoul sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of former President Park Geun-hye. The Seoul Central District Court handed down [...]
SEOUL, Aug. 23 (Korea Bizwire) – The Seoul Central District Court decided Wednesday not to allow the upcoming sentencing hearing for Samsung Electronics Vice Chairman Lee Jae-yong to be televised live, saying the move could unfairly hurt the interests of defendants. The court also decided not to permit the taking of still photos during Friday’s [...]
SEOUL, Aug. 21 (Korea Bizwire) — Crucial decision-making at global tech firm Samsung Electronics Co. has been pushed back since its de facto leader Lee Jae-yong was imprisoned in February, industry sources said Monday. According to the sources, Samsung held fewer in-house strategy meetings in the second quarter compared with the year earlier period. The [...]
SEOUL, Aug. 9 (Korea Bizwire) — One would think that the looming possibility of a double digit prison sentence would have the plaintiff arguing for one’s innocence. Instead, in what may well be the darkest hour of his life, Lee Jae Yong is pouring his heart out trying to convince people that he’s not a bad [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s top conglomerate Samsung Group appears unlikely to hold any high-profile events this week to mark the anniversary of a landmark declaration of reform as its leader has been in jail over a corruption scandal that led to the ouster of former President Park Geun-hye. On June 7, [...]