A PYMNTS Company

South Korea: Samsung Vice-Chair Appeals Bribery Conviction

By  |  August 28, 2017

Samsung Electronics vice chairman Jay Y. Lee is looking to appeal the five-year jail term he was recently given for bribery and other charges. Lee was sentenced to five years last Friday.

The sentencing of the billionaire scion was a watershed for South Korea’s decades-long economic order.

The 49-year-old Lee is heir to one of the world’s biggest corporate empires, and is charged in connection with allegations that he attempted to bribe then-president Park Geun-hye to help him secure control of the conglomerate that owns Samsung Electronics, the world’s leading smartphone and chip maker.

Under Korean law, Lee can be kept in detention for a maximum of four months while a court considers his appeal.

Full Content: PYMNTS

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.