The move against Samsung Electronics Vice Chairman Lee Jae-yong on Monday is part of an investigation into a massive political corruption scandal that has shaken South Korea’s political and business elites.
Lee is now set to appear Wednesday before a judge who will decide whether the arrest warrant is valid. If it is, the man tapped to head the country’s biggest conglomerate will be taken into detention.
The case involving Lee centers on a contentious merger of two Samsung affiliates in 2015 that helped him strengthen his control over Samsung Electronics( ), a key part of his family’s sprawling business empire.
Prosecutors accuse Samsung of making payments to foundations controlled by a confidante of President Park Geun-hye in return for government backing for the merger.
The arrest warrant for Lee came on the same day that National Pension Service chief Moon Hyung-pyo was indicted on charges of perjury and abuse of power. Moon is accused of pressuring the pension fund, a major shareholder in one of the Samsung affiliates, to support the merger when he was minister of health and welfare.
Follow us on:
Latest posts by Peach Essence (see all)
- Bye Clutter! Watch 10 Things To Get Rid Of In Your Home by Sisi Yemmie - February 22, 2018
- New Music Video: Omo Akin feat. Harmonize & Skales – Sisi Maria (Remix) - February 22, 2018
- Teacher arraigned in court for infecting 6-Year-Old pupil with STD - February 22, 2018