South Korean Prosecutors to Indict Samsung’s Lee on Corruption Charges
- The move means billionaire Jay Y. Lee to stand trial
- Charges are latest setback for world’s largest phonemaker
South Korean Special Prosecutor to Indict Jay Y. Lee
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South Korea’s special prosecutor indicted Jay Y. Lee, the de facto head of Samsung Group, on bribery charges in the latest blow to the country’s largest conglomerate amid a generational handover.
Lee will stand trial over accusations he participated in bribes made in exchange for government favors, with formal charges filed Tuesday against him and four other executives. The Samsung Electronics Co. vice chairman allegedly directed tens of millions of dollars to entities controlled by a confidante of President Park Geun-hye, in return for government support of a 2015 merger that cemented his control of the group.