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November 24, 2017
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Samsung Head Indicted for Bribery

  • March 1, 2017
  • By Developer.com Staff

In January, South Korean prosecutors began seeking a warrant for the arrest of Lee Jae-yong, the vice chairman of Samsung Electronics and the person generally considered the leader of the company. That initial attempt to obtain a warrant was unsuccessful, but on their second try, prosecutors successfully indicted Lee on charges of embezzlement and paying bribes to a close friend of the South Korean president. Including Lee, more than 30 people were indicted at the end of a sweeping investigation of government corruption.

Following Lee's arrest, Samsung has disbanded its Future Strategy Office. The leaders of all the companies affiliated with the Samsung conglomerate were part of the office, and the Lee family used it to control those affiliated companies. In South Korea, the Future Strategy Office was widely seen as a symbol of corporate corruption.

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