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, [...]
SEOUL, Apr. 28 (Korea Bizwire) — Samsung Electronics Co. said Thursday it will scrap plans to adopt a holding company structure. The tech giant said through a regulatory filing in November that it will seek a change in the management structure, which includes splitting itself into a holding company and an operating company to boost [...]
SEOUL, Mar. 15 (Korea Bizwire) — South Korea’s major business groups face another round of investigations for their alleged involvement in the bribery scandal that led to the impeachment of President Park Geun-hye, industry and legal sources said Tuesday.Prosecutors at the Seoul Central District Prosecutors’ Office took over the bribery case late last month when [...]
SEOUL, March 14 (Korea Bizwire) – Samsung Electronics Co. has been considering whether to transition into a holding company structure, regardless of the leadership vacuum caused by the detention of its de facto chief, Lee Jae-yong, a senior company executive said Tuesday. Samsung announced last November that it will review a possible switch to a [...]
SEOUL, Feb. 28 (Korea Bizwire) – South Korea’s President Park Geun-hye was named a bribery suspect on Tuesday as special prosecutors wrapped up their three-month probe into a massive influence-peddling scandal. The probe team, led by Independent Counsel Park Young-soo, suspects that the president colluded with her longtime friend Choi Soon-sil and took bribes from [...]
SEOUL, Feb. 22 (Korea Bizwire) – Lee Jae-yong, Samsung’s de facto leader, again showed up in handcuffs (covered with cloth) at the special prosecution’s office in Gangnam, Wednesday afternoon, for the third interrogation session since his arrest on February 17. South Korea’s third richest man (Forbes, 2016), after his father Lee Kun-hee and AmorePacific chairman [...]
SEOUL, Feb. 17 (Korea Bizwire) – Samsung Group, South Korea’s largest conglomerate, is expected to put most of its new business and investment plans on hold, at least temporarily, following the arrest of its heir-apparent Lee Jae-yong, market observers said Friday. Lee, the group’s de facto leader, was arrested early Friday on charges of bribery [...]
SEOUL, Feb. 17 (Korea Bizwire) – Lee Jae-yong, Samsung Group’s de facto leader, was formally arrested Friday on charges of bribery in connection with a high-profile corruption scandal surrounding President Park Geun-hye and her friend. With the Seoul Central District Court issuing the arrest warrant, Lee, vice chairman of Samsung Electronics Co., became the first [...]