Kwon Oh-hyun, CEO of Samsung Electronics and Samsung Display, vice chairman and head of Samsung’s components division has announced his resignation. He will step down from the role as well as his position on the board in March 2018.
Kwon Oh-hyun said in a letter to the employees:
It is something I had been thinking long and hard about for quite some time. It has not been an easy decision, but I feel I can no longer put it off. As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT [...]
Lee Jae-yong, the son of Samsung’s ailing chairman and vice chairman of Samsung Electronics has been found guilty of perjury, embezzlement, and bribery in South Korea. The presumed heir to the Samsung empire was sentenced to five years in prison on Friday, which was shorter than the 12-year prison sentence prosecutors had sought for.
Lee was arrested in February and was found guilty by a three-judge panel of Seoul Central District Court. Along with the Lee, four other Samsung executives were accused of offering bribes to former South Korean president Park Geun-hye. Prosecutors alleged that Lee and the other executives gave 43.3 billion won (approximately $38 million) in [...]
Samsung’s vice chairman Lee Jae-yong has been arrested in South Korea for charges of bribery and of hiding criminal proceeds and violating laws pertaining to transferring assets abroad. The court had found him guilty in January of 2017, but a warrant for his arrest was made only yesterday for the remaining charges.
The rationale for and the necessity of (Lee’s) arrest is acknowledged considering the new charges and additional evidence collected- Said the court
The charge of significant proportions putts Lee Jae-yong for bribing the South Korean President Park Geun-hye $38 million for allowing special privileges to Samsung as a brand. The stories of Samsung [...]