According to Korean media (Yonhap), the High-Court of Seoul convicted Samsung‘s Vice Chairmen Lee Jae-yong to 2.5 years jail in a retrial of a bribery case involving former President Park Geun-hye and ordered him returned to prison.
As reported, the vice-chairmen of Samsung Electronics, Park, and Choi Soon-sil got jailed for the same term due to charges of winning government support for a smooth father-to-son transfer of managerial power at Samsung. Park was later impeached and dismissed from the presidency for corruption and abuse of power.
“Considering all circumstances, it is inevitable that Lee is sentenced to prison and arrested in court.” – Said judges in the final verdict.
Samsung VC Lee was also present at the hearing and taken into custody immediately just after the verdict has given. However, it is expected that the South Korean tech firm will appeal again to be concluded by the Supreme Court.
Lee’s imprisonment will deprive Samsung of its strong leadership, which will make it difficult for the company to operate effectively and compete with rival brands such as Apple.