One of Samsung's executives has been sentenced to five years in prison following a bribery scandal.
Lee Jae-yong, the heir to ownership of Samsung, has been sentenced to five years in prison following a bribery scandal involving Samsung and former South Korean President Park Geun-hye.
The New York Times reports that Lee and four other Samsung executives paid $6.4 million in bribes to the Park administration. The Samsung conglomerate controls one-fifth of the South Korean economy and a large portion of its gross domestic product, and the bribes were designed to secure political backing for a merger between Samsung C&T Corp and Cheil Industries Inc. The Samsung scandal contributed to the impeachment of President Park Geun-hye.
Judge Kim Jin-dong, who sentenced Park, said:
The essence of this case is the unethical bond between politics and money. The people expect that the power of a president, the top authority under the Constitution, will be used to serve all people and that big businesses act with social responsibility, through legal economic activities. Through this case, the people have come to question the fairness and honesty of the president and have come to distrust the ethical values of Samsung, the largest conglomerate.
While we're most familiar with Samsung's electronics division, which is responsible for its smartphones and TV's (and much of its profit), Samsung Group has a wide variety of companies in it, including those involved in construction, South Korean national defense, display production, processor production, storage production, medical services, and financial services. It is unclear at this time what the sentencing could mean for the future of the Samsung Group.
Another charge Lee was found guilty of was hiding assets overseas and falsely testifying during his hearing on the scandal.
Reader comments
Samsung heir sentenced to 5 years in prison for bribery
Like father, like son.
The article I read earlier says he has a good convention of getting out without serving anywhere near the whole 5 years.
I know that my complaint is moot because I already clicked on this article and you got the advertising dollars associated with me and my account, but I still wanted to say: Android Central, I am extremely disappointed to see you run an article like this. This is not Android news. You might argue that this is an article for investors who own stock in Samsung and may take a hit as a result, but I do not think that this is an article for this site. This is a gossip piece, plain and simple, and something AC should be above.
I disagree with the notion that a criminal conviction of the top executive of the largest Android OEM constitutes irrelevant "gossip" on an Android-centric website. In fact, this doesn't even meet Merrium-Webster's definition for "gossip."
God forbid Android news includes the people behind the products for something as serious as bribery. Hopefully in the future Android Central would only include executives when they are caught in a love triangle or buy a new car. Rest assured Michael, we are quickly getting to the age when robots take over the world and humans would have no place in Android news.
It would only be a gossip piece if he didn't go through trial yet. But he's been tried, convicted, and sentenced. This isn't gossip. It's fact.
Perhaps using the word gossip was a gross oversimplification, but this article is click baity at best. The CEO of a multinational conglomerate like Samsung has VERY little to do with the actual products of Samsung's smartphone division.
Me calling this gossip was more hyperbole to express my growing dissatisfaction with the types of articles that are starting to slip into AC's news stream. I've been reading AC for over 10 years, and the site has always been first and foremost about Google's strategy for Android and it's related software such as Chrome and the hardware that runs that software. This article is more a report on politics than either of those things. If this had been the head of the hardware design team getting convicted for bribery, than I might feel differently.
Since Phil left the head editor position to do his Modern Dad stuff, I feel that the site has started to slide more towards clicks than content. I get that they are a news organization that needs to make money to survive, I would just like them to retain some integrity while they do so.
Shut it man! If you do not like to read something like this then don't. Simple as that. People like me find this article informative, and it does not hurt if they post news related to giant smartphone company.
Let me know when you start your own Android news website. Not saying I'll go visit, but whatever A.C. deems appropriate to publish on *their website* is what will be published. When you have your own site, you can do the same.
I'm not screaming at them to take it down. I fully realize that they are allowed to post whatever it is they want on AC and call it Android news. I was merely expressing my personal opinion (whatever that is worth) as a long time reader who doesn't think that political news is pertinent to the direction of this website, and if they'd like to keep me as an ad-revenue-generating reader of AC, I'd like to see less politics on here. That's all. Just one tiny voice expressing his opinion.
"While we're most familiar with Samsung's electronics division, which is responsible for its smartphones and TV's (and much of its profit), Samsung Group has a wide variety of companies in it, including those involved in construction, South Korean national defense, display production, processor production, storage production, medical services, and financial services. It is unclear at this time what the sentencing could mean for the future of the Samsung Group."
This article is relevant, especially to all those who use Samsung smartphones and other Samsung products. If this behavior is not brought to the light (and punished), how far do you think this "heir" would go?
I'm not saying that it's not relevant as news, I'm just saying that it's not relevant to the general content or direction of this website. AC is about well educated and experienced editors giving their opinions on products, doing walk-throughs of product features, and breaking android leaks from reliable sources. Simply posting about some executive who has nothing to do with the smartphone division of Samsung without providing some editorial reason is (in my opinion) a grab for clicks and nothing else.
"Unethical bond between politics and money"
Wouldn't it be great if we did something about that problem here in the US too!
It would, but that would mean many corrupt figureheads like Hillary Clinton would never get anywhere near the White House so, very, very unlikely anyone will do anything about it, money incites greed in weak/ill willed people, the more the better and by ANY means possible
So great, Hillary isn't there.... But what are we gonna do about the greedy corrupt bad dude who's there now?!
I was thinking the exact thing. Politicians get financed by YUUUGE corporations to do their bidding, while those same companies hide their assets offshore to avoid paying taxes. Gee, it sounds exactly like this guy.
Just what I was also thinking would be great if this kind of upholding the law and fighting against corruption was practiced in my country, South Africa.
Pity that he wouldn't be trying out Samsung Galaxy Note 8.
How novel, a corporation uses its funds to help a politician stay in power and he goes to jail. And even the politician is indicted. Good thing for Obama and the Clintons who took not 6 million USD from corporate donors but over 4,000 million USD, that the US allows such corruption. And the US media paints these folks as somekind of heros. Then finally the people elect a man who refused all such support and the media paints him as a bad person, why do they do this you ask? Simply because President Trump never played by the rules and took money from those same corporations who sponsor the US media. Only in the US is there such corruption.