Published 17:29 IST, October 25th 2019
South Korean Judge wants Samsung heir to 'humbly accept outcome'
The South Korean judge who is currently overseeing Samsung heir Jay Y. Lee's retrial on bribery allegations said on October 25 to “humbly accept the outcome”
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The South Korean judge who is currently overseeing Samsung Group heir Jay Y. Lee's retrial on bribery allegations linked to a scandal of 2016, on October 25 told Lee to “humbly accept the outcome” of the case. The Billionaire had appeared in court after the scandal which fueled massive protests and sent South Korea's then-president to prison. Lee, whose Korean name is Lee Jae-Young had attended the first hearing of the bribery trial at Seoul High Court. The hearing commenced after South Korea's top court ordered a review of the 2017 graft case.
“I feel deeply sorry for worrying many people,” Lee said before walking into the Seoul High Court with his lawyers.
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Case History
The case of Lee Jae centers around millions of dollars that the Samsung group paid to the secret confidante Choi Soon-Sil, allegedly for favors to ensure Lee's succession to his ailing father. The scandal revealed in 2016 had highlighted the hidden links between the company and the politicians in South Korea including the then-president and her friend. The women were convicted and given decades-long jail sentences and will also face separate trials of their own. The top court ruled that 8.6 billion won by Samsung should be considered as bribes. Lee became the center of a case revolving around bribes worth more than 5 billion won which is not eligible for suspended jail term. According to an independent attorney Shin Jan-Sik, Lee is 'likely to go to prison'. After the chairman of Samsung and Lee's father, Lee Kun-Hee left due to a heart attack in 2014, Lee has been at the helm of the group.
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Already served one year
The chairman of Samsung Electronics, Lee has already served one year in prison but later walked free after the appeals court reduced the five-year jail sentence and suspended it to three years. However, unofficially there has been a response from an employee of Samsung who reportedly has stated Samsung hopes to see the end of this uncertainty as soon as possible. The trial has come in the wake of South Korea's President seeking help from business leaders to revive the troubled economy whose data recently revealed that the South Korean economy has slowed more than expected in the third quarter. Moon thanked Lee for Samsung's commitment at an event earlier this month unveiling an $11 billion investment in display technologies.
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(With agency inputs)
13:00 IST, October 25th 2019