Lee Jae-yong Archives | Be Korea-savvy
Samsung’s Strategic Decision-making in Limbo amid Leader’s Absence

Samsung’s Strategic Decision-making in Limbo amid Leader’s Absence

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 [...]

Civic Groups Say He’s Guilty, Samsung Heir Lee Insists He’s Not a Bad Person

Civic Groups Say He’s Guilty, Samsung Heir Lee Insists He’s Not a Bad Person

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 [...]

Chaebol Face 2nd Round of Probes for Bribery Related to Impeached President

Chaebol Face 2nd Round of Probes for Bribery Related to Impeached President

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 [...]

Samsung to Review Holding Company Structure Regardless of Chief’s Detention

Samsung to Review Holding Company Structure Regardless of Chief’s Detention

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 [...]

President Park Named as Bribery Suspect in Corruption Probe

President Park Named as Bribery Suspect in Corruption Probe

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 [...]

Samsung Leader in Chains

Samsung Leader in Chains

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 [...]

Samsung to Suspend Investment, Business Plans Following Arrest of Chief

Samsung to Suspend Investment, Business Plans Following Arrest of Chief

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 [...]

Samsung Heir Arrested on Bribery Charges in Corruption Probe

Samsung Heir Arrested on Bribery Charges in Corruption Probe

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 [...]