A court in South Korea has approved the arrest of Samsung Group’s Lee Jae-yong, the heir apparent to the world’s largest smartphone maker, on allegations of bribery, perjury, and embezzlement, reports Bloomberg. Lee had been held in a detention center following court hearings on claims that Samsung had provided up to 43 billion won ($38 million) in exchange for government favors, particularly around the merger of two Samsung affiliate units. The case was linked to the impeachment of South Korea’s President Park Geun-hye last December.
Samsung chief Lee Jae-yong has been arrested on bribery charges
The scandal was linked to the impeachment of South Korea’s president
The scandal was linked to the impeachment of South Korea’s president


The Seoul Central District Court had initially rejected the request to arrest Lee in January, but reversed its decision after a special prosecutor’s office provided additional evidence. At the parliamentary hearing last December, Lee confirmed he had private meetings with Park and gifted a horse worth 1 billion won ($875,500) to the daughter of Park’s confidante Choi Soon-sil. The prosecution also alleged that Lee donated $3.1 million to a company Choi co-owned. At the hearing, Lee denied seeking political favors or support for the merger in return for the gift.
Shareholders had argued against the merger between Samsung’s de-facto holding company, Cheil Industries, and its construction arm, Samsung C&T, claiming that the deal would give Lee too much control and influence over the new entity.
Lee became the de-facto chief of Samsung after his father, the company’s former chairman, was hospitalized in 2014 following a heart attack. According to Bloomberg, it may take up to 18 months for a trial and verdict.











