South Korea: Samsung heir faces possible arrest again

South Korean prosecutors are attempting for a second time to arrest Samsung’s de facto leader, who faces bribery allegations in connection with a massive political scandal.

Special prosecutors investigating the influence-peddling scandal that led to the impeachment of the president said Tuesday they have asked a court to issue an arrest warrant for Lee Jae-yong, the vice chairman of Samsung Electronics. They also are seeking an arrest warrant for Samsung Electronics President Park Sang-jin, who oversees the company’s external relations.

Seoul Central District Court said it will hold a hearing on Thursday to review the arrest request.

This is the second attempt by prosecutors to arrest Lee, the heir to the Samsung. Last month, a court said there was not enough evidence to justify Lee’s arrest at that point.

The prosecutors argued that the 48-year-old billionaire offered a bribe of $36 million to President Park Geun-hye and her long-time friend to win government backing for a controversial merger.

The merger of Samsung C&T and Cheil Industries in 2015 was opposed by minority shareholders, who said it would benefit the Samsung founding family while hurting other shareholders. Samsung narrowly secured shareholder approval, thanks in part to support from the National Pension Fund, its key investor.

Full Content: Wall Street Journal

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