Dec. 30 (UPI) — Samsung Electronics vice chairman Lee Jae-Yong apologized throughout a bribery retrial for “money owed owed” to the South Korean folks, as native prosecutors search a nine-year jail sentence for the de facto chief of Samsung Group.
Lee, who confronted prices of inventory manipulation in September and buried his father Lee Kun-hee in October, mentioned Wednesday he has “obtained essentially the most advantages” of society, MoneyToday reported. Lee is the richest man within the nation by inventory worth.
Lee’s bribery retrial comes after a number of court docket hearings that started in 2017, following the impeachment of former South Korean President Park Geun-hye.
Lee was sentenced to 5 years in jail that yr for paying $27.four million value of bribes to obtain under-the-table authorities help in securing management of Samsung Group from his father. In South Korea, family-controlled teams more and more have come below hearth for the follow of passing energy to heirs.
Lee obtained a diminished and suspended jail sentence in 2018, however in 2019, South Korea’s Supreme Court docket overturned the ruling, citing different bribes Lee used to curry favor with Choi Quickly-sil, a strong acquaintance of Park who was jailed 20 years for corruption.
Wednesday’s retrial is revisiting allegations towards Lee, who mentioned he was “confused” after assembly with Park, in accordance with Yonhap.
His father, Samsung chairman Lee Kun-hee, had collapsed on the time.
“I’d by no means have acted like that,” Lee Jae-yong mentioned Wednesday.
South Korean prosecutors mentioned the powers of Samsung have to be reined in.
“Samsung is a gaggle with overwhelming energy, to the extent that folks say our nation’s companies are both Samsung or non-Samsung,” prosecutors mentioned.
“For our society’s healthful improvement, Samsung’s place is such that it ought to display a agency stance towards corruption and set an instance.”
The Samsung inheritor ranks forward of Chung Mong-koo, chairman of Hyundai Motor Group, when it comes to inventory worth, native information community YTN reported Wednesday. Lee’s shares in his firm are value $8.9 billion.