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South Korea
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Samsung heir Lee Jae-yong sentenced to 30 months in prison in bribery case

  • The Samsung Electronics vice-chairman, also known as Jay Y. Lee, was convicted of bribing an associate of former president Park Geun-hye
  • Lee, who already served a year in a South Korean prison before being released on appeal, will be sidelined from making major business decisions

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Samsung Electronics vice-chairman Lee Jae-yong arrives at the Seoul High Court for sentencing, after prosecutors requested a nine-year prison term during a retrial of his bribery charges. Photo: AP
Reuters
A South Korean court sentenced Samsung Electronics heir Samsung heir Lee Jae-yong, otherwise known as Jay Y. Lee, to two-and-a-half years in prison on a bribery charge on Monday, a ruling which is likely to have ramifications for his leadership of the tech giant as well as South Korea’s views toward big business.
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With this, Lee will be sidelined for the time being from major decision making at the company as it strives to overtake competitors. He will also be unable to oversee the process of inheritance from his father, who died in October, crucial to keeping control of Samsung.
Lee, 52, was convicted of bribing an associate of former president Park Geun-hye and jailed for five years in 2017. He denied wrongdoing, the sentence was reduced and suspended on appeal, and he was released after serving a year.

The Supreme Court then sent the case back to the Seoul High Court, which issued Monday’s ruling.

The court found Lee guilty of bribery, embezzlement and concealment of criminal proceeds worth about 8.6 billion won (US$7.8 million), and said the independent compliance committee Samsung set up early last year has yet to become fully effective.

“[Lee] has shown willingness for management with newly stronger compliance, as he has vowed to create a transparent company,” said Presiding Judge Jeong Jun-yeong.

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“Despite some shortcomings … I hope that over time, it will be evaluated as a milestone in the history of Korean companies as a start of compliance ethics for a greater leap forward,” he said.

Lee, dressed in a dark coat and silver tie and standing to hear the sentencing, sat down after it was read.

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