Well, as per the reports Heir of Samsung is now officially under arrest for being guilty of the bribery. Sources are saying that he was sentenced to the five years in prison this Friday. Well, He was guilty of bribery and other offences in connection with the scandal that brought down South Korean president Park Geun-Hye. This was one of the worst and big scandal ever for any company like this. Sources are saying that this could damage the whole business marketing of Samsung in the world.
Well, you can say now that Lee Jae-Yong’s penalty could leave the giant firm rudderless for years and hamper its ability to make key investment decisions. Also, we are sure that this could make some big effects on the sales of upcoming mobiles in whole South Korean. The vice-chairman of Samsung Electronics, 49, arrived at Seoul Central District Court on a justice ministry bus handcuffed, bound with white rope around his dark jacket, and carrying an envelope of documents.
Samsung Heir Jailed for 5 Years
Lee was found guilty of bribery, embezzlement, perjury and other charges centred on payments and promises by Samsung totalling 43.3 billion won (around $40 million) to Park’s secret confidante Choi Soon-Sil. South Korea’s GDP is still growing but social and economic frustrations have mounted over the benefits not being equally shared. It was deluged with hundreds of applications for the 30 seats in courtroom 417 available to members of the public, which were allocated by lottery.
The firms have long had murky connections with political authorities in South Korea, and past trials of their leaders have often ended with light or suspended sentences, with courts citing their contributions to the economy.
In the end, you can say that this whole news is a very bad phase for the company and their goodwill is in the very tragic situation. Let, see what is going to happen in upcoming days with this situation.
