A few months ago, Samsung came up with an astonishing news that Jay Y. Lee, who used to head the company, was arrested in South Korea for some awkward reasons. Special prosecutors charged him with bribery and embezzlement but the charges were pretty strange keeping in mind his position. As the proceedings were finalized, the former head was sentenced a five-year imprisonment in August 2017. The good news for him and his family is that he has got out of the jail in just 6 months.
The Case Isn’t As Simple As It Looks
The strings of this case were connected to the former South Korean president, Park Geun-hye, who was also found guilty of accepting bribes. Jay Y. Lee gave Park around $28 million in bribes in return for favors including a merger between two Samsung Group affiliate companies which lead to Park Geun-hye’s impeachment.
It was decided in a hearing of a South Korean appeals court yesterday, that Lee’s sentence would be reduced to half, leading to just two and a half years of jail time. The rest of his punishment is to live under a four-year probation period, instead of living in jail.
This reminds us about Lee Kin-hee, the chairman of the Samsung Group, who was also found involved in various crimes such as bribery, tax evasion and breach of trust. South Korea has this trend of getting away from the punishments and that’s what Kin-Hee did by erasing his criminal record through presidential pardons.