Just in:
Andertoons by Mark Anderson for Fri, 29 Mar 2024 // 2024 Lok Sabha Elections Will Be The Costliest One Till Now In The Whole World // Global Audience to Witness Thrill of Dubai World Cup // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era // TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young // French Leaders Gather for Interfaith Iftar Dinner // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // Emirati Aid Reaches Ukraine as Food Shortages Bite // Andertoons by Mark Anderson for Thu, 28 Mar 2024 // CABSAT 2024 Ushers in 30 Years of Media Innovation // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals // Universal Language for Healthcare: General Authority Embraces Global Coding System // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // New Nylon Constant Torque Hinge From Southco Provides Position Control In A Compact Package // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement //
HomeChannelsBusinessSamsung chief questioned behind closed doors in arrest warrant hearing

Samsung chief questioned behind closed doors in arrest warrant hearing

1487224454

By Joyce Lee and Hyunjoo Jin
| SEOUL

ADVERTISEMENT

SEOUL A South Korean judge questioned Samsung Group leader Jay Y. Lee and another executive behind closed doors on Thursday to decide whether they should be arrested over their roles in a corruption scandal that has engulfed President Park Geun-hye.

Dozens of protesters surrounded by riot police met Lee, 48, who was wearing a dark coat and navy tie as he arrived at the Seoul Central District Court to attend the hearing.

South Korea’s special prosecutor’s office has focused its investigations on Samsung Group’s [SAGR.UL] relationship with Park, who was impeached by parliament in December and has been stripped of her powers while the Constitutional Court decides whether to uphold her impeachment.

Prosecutors accuse Lee in his capacity as the head of South Korea’s largest conglomerate of pledging 43 billion won ($37.7 million) to a business and organizations backed by Park’s friend, Choi Soon-sil, in exchange for support of a 2015 merger of two Samsung companies.

That funding includes Samsung’s sponsorship of the equestrian career of Choi’s daughter, who is in detention in Denmark after being sought by South Korean authorities.

Park, Lee, Choi and Samsung Group all deny any wrongdoing.

Prosecutors have also sought an arrest warrant for Samsung Electronics Co Ltd president Park Sang-jin, who also heads the Korea Equestrian Federation and arrived for the hearing after Lee.

Neither man answered questions from reporters.

It is the second time in a month the special prosecutor’s office has sought Lee’s arrest.

The same Seoul court rejected its request for a warrant in January but a spokesman for the special prosecutor’s office said on Wednesday it had since expanded the charges against Lee to include hiding the proceeds of a criminal act, as well as bribery, embezzlement, hiding assets overseas and perjury.

Two groups of protesters – one calling for Lee’s arrest and another carrying South Korean flags and demanding that the warrant request be dismissed – stood outside the courthouse in southern Seoul.

After the hearing concludes, Lee and Park Sang-jin were expected to await the court’s decision in a detention center, a prosecution spokesman said. The decision may come late on Thursday or early Friday, based on previous instances.

On Wednesday, Samsung Group repeated an earlier denial on its official Twitter account: “Samsung has absolutely never bribed the president seeking something in return or sought illicit favors.”

“We will do our best for the truth to be revealed in court,” it said.

The corruption scandal erupted late last year and has engulfed South Korea’s political and business elite. Park, who remains in the presidential Blue House, could become the first democratically elected leader in South Korea to leave office in disgrace.

If Lee is arrested it could also deal a serious blow to Samsung, the world’s biggest maker of smartphones, memory chips and flat-screen televisions, potentially hampering strategic decision-making such as new investments and acquisitions.

(Reporting by Joyce Lee, Hyunjoo Jin; Additional reporting by Cynthia Kim and Jeongeun Lee; Editing by Paul Tait)

Reuters

ADVERTISEMENT

ADVERTISEMENT
Just in:
AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Emirati Aid Reaches Ukraine as Food Shortages Bite // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // Melco Style Presents “SANRIO CHARACTERS STUDIO CITY CARNIVAL” – Explore a SANRIO World of Unlimited Love and Cuteness // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // CABSAT 2024 Ushers in 30 Years of Media Innovation // Andertoons by Mark Anderson for Fri, 29 Mar 2024 // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Global Audience to Witness Thrill of Dubai World Cup // 2024 Lok Sabha Elections Will Be The Costliest One Till Now In The Whole World // Samsung Electronics Launches 2024 Neo QLED 8K, Neo QLED, and OLED Displays to Spark the AI Screen Era // Ingdan Announces 2023 Annual Results // US reiterates concern over Kejriwal arrest, Cong accounts // New Nylon Constant Torque Hinge From Southco Provides Position Control In A Compact Package // French Leaders Gather for Interfaith Iftar Dinner // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Hong Kong Crypto Exchange Application Stalled by US Lawsuit //