Samsung Chairman Lee Jae- Yong Jailed Over Corruption and Bribery Charges

On Monday, the Seoul High Court found Samsung chairman Lee Jae-Yong guilty in a massive corruption and bribery case. He was accused of offering about eight million US dollars, and several horses, as a bribe to a friend of the former Korean president Park Geun-Hye, who herself is currently serving a term in prison following the bribery conviction. Mr Lee tried to use the government's influence to help him achieve a smooth succession in his business.

Mr Lee "actively provided bribes and implicitly asked the president to use her power to help his smooth succession" at the head of the sprawling conglomerate, the Seoul Central District Court said in its verdict.

This is not the first instance when Mr Lee has got into legal trouble for unethical business practices. He has spent one year in jail previously as well. He was booked in a similar scandal back in 2017.