South Korea to Witness Samsung Boss’ Trial
Lee Jae-yong, Samsung’s chief, will face a trial in South Korea for bribery and embezzlement. The 48-year old Lee was charged, on Tuesday, for being involved in a huge corruption scandal, which also led to the impeachment of the President.
Lee’s trial has been set for March 9th, which is much sooner than it was expected. Lee has been accused of bribing companies and firms that are associated with the South Korean President, Park Geun-hye, who is also currently under investigation. Officials, who were probing a massive presidential scandal, have found that Lee paid 37 -49 million dollars to an organization run by Choi Soon-sil, who is a confidant of the President. As a barter, Samsung received certain favors and preferential treatment a few years ago. Reports suggest that Park had helped Lee make his position as the chief of Samsung concrete by approving a controversial merger between two Samsung allies.
Special prosecutor Park Young-soo said, “We are preparing hard, thinking that the upcoming Samsung trial could be the trial of the century that the entire world will be watching”. The trial is expected to last for about three months, and will be a rather spectacle to witness, given the involvement of the big names.
Park, who was impeached in December last year at the Parliament, has been deprived of her powers. The decision on the same, however, is pending in a Constitutional Court and a ruling is expected later this month. Samsung and the others involved in the scandal have denied any involvement in the matter. The scandal has not only put Park, Choi and Lee’s pride in question, but might also affect the brand Samsung, which has already had a tough 6 months. However, only time will show how vast the impact on Samsung’s image will be, and whether it will affect Samsung’s upcoming launches, namely the Galaxy S8.