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Mobile/Wireless Components

South Korean Feds Seek 12-Year Sentence for Samsung Boss

South Korean prosecutors are seeking a 12-year sentence for a Samsung boss for his role in a corruption scandal that took down the president of the country.

Lee Jae-yong, vice chairman of Samsung Electronics Co. Ltd. (Korea: SEC), is the de facto boss of Samsung, following his father's heart attack in 2014. Lee was arrested in February for his suspected role in channeling up to 43 billion won ($36 million) to Choi Soon-sil -- a friend of departed president Park Geun-hye -- while looking for government help with a leadership change within Samsung. (See South Korea Seeks Warrant for Samsung Vice Chairman's Arrest.)

Lee is denying the charges. "I have never asked anyone, including the president, for anything for the company or my personal gain," a tearful and apologetic Lee said in his trial's final hearing on Monday, the Guardian reports.

The court will hand down its verdict on August 25.

Samsung -- the largest business in South Korea -- doesn't yet appear to have felt any knock-on effects from the corruption scandal. (See Samsung Defies Setbacks, Sees Q1 Profits Surge.)

— Dan Jones, Mobile Editor, Light Reading

danielcawrey 8/7/2017 | 7:01:12 PM
Not yet Maybe they haven't felt the effects yet, but they will come when there is a prosecution. 

Honestly, the company is lucky given the exploding Samsung Notes that things haven't gone worse. 
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