samsung heir sentenced to 5 years in prison in bribery case that gripped south korea - samsung

South Korea is known as the "Samsung Republic", which is a play in the official name of South Korea, because the business empire is everywhere in the daily life here, occupying a dominant position in the national economy.
But in the Seoul court on Friday, the power and influence were not obvious. Lee Jae-
Samsung's de facto leader, the grandson of the late founder of the corporate giant, yong, received a copy of five
He was sentenced to one year in prison for taking bribes and embezzling public funds, which involved former President Park Geun-hye-hye.
This is the latest and highest.
So far, in a huge public corruption scandal in South Korea, a verdict says --
At least now-
Questions about who will lead the top families in Korea
Since the Korean War, the holding group has played a key role in the country's rise as an economic power.
"It could be very confusing for Samsung and for the Korean economy as a whole," said Park Sangin, director of the Center for Market and government research at Seoul National University and Professor of Economics.
The 49-year-old Lee was convicted after a few months on and off.
The long-run trial has attracted much attention from South Korea's democratic countries, where many South Korean residents have suffered from Samsung smartphones, insurance and health care --
Among many other productsevery day.
The court ruled that Lee was involved with PARK GEUN-HYE, her longtime close friend and-
Time Elite Korean equestrian athletes.
The judge in the case said the prosecutor had a lot of evidence that Lee was a moderate-mannered, low-
Profile executive, which facilitates the purchase of an expensive horse and provides other company funds to attract Park's favor.
The court agreed with prosecutors that the plan was intended to enlist government support for the controversial merger between Samsung's two affiliates.
The plan is also seen by some inside Samsung as an effort to consolidate a dynasty Road for Lee's larger group, known for its smartphones and semiconductors, but it also has a place in global operations such as pharmaceutical and shipbuilding.
Wu, his defense lawyer.
In a statement issued by the company, cheol Song objected to the verdict, which also affected other current and former Samsung officials accused in the case.
"We will appeal immediately," he said . "
"I am sure that the Court of Appeal will certainly find the accused innocent on all counts.
"Li's trial lasted for several months and, despite his power and billionaire identity, he was still in jail.
When asking witnesses this month, Lee's defense lawyer tried to portray him as someone different from the Samsung era --to-
The political mechanism of the country is unknown.
Kai-Fu Lee expressed regret without admitting his mistake and proved that he rarely read Korean news, but focused on the media in the United States and Japan to obtain his information.
He also claimed that he knew very little about the merger deal in allegations against him and the former president.
The court obviously disagreed.
A few months ago, Park dramatically and historically fell, and she began losing control of power last fall because of news that she allowed Choi Shun, a confidant outside the government.
Access to confidential documents.
With the support of the president, Mr. Cui quickly launched an investigation into whether Mr. Cui received payments from big companies.
Prosecutors said it was Cui Shunshi who took bribes from Samsung officials to benefit a sports company and her daughter's equestrian career.
Discontent with the park's leadership led to massive street protests in the spring and eventually charged 24 people, including a former park assistant.
The National Assembly voted in December to impeach the former president, who was being removed by the court.
The former president, the daughter of a late military dictator, has since been imprisoned and charged.
In her own trial, she will also face jail terms, which is expected to end this fall.
The charges involved in the case were that PARK GEUN-HYE's government supported the merger efforts of Samsung's affiliates by requiring the agreement's stakeholder national pension services.
In a nuanced ruling, the court said Li sought help to maintain power, but the process benefited a larger group of companies, not necessarily him alone.
While the case has aroused widespread anger and concern in South Korea, historically, it is not uncommon for South Korean presidents and corporate giants to face charges and criminal charges involving communication and corruption.
Li's father, Li Kun
Hee, the group's current chairman, was twice convicted of corporate bribery, including tax evasion.
But he had never been in prison and was pardoned twice.
Since the severe heart attack in 2014, elder Li has been incapacitated, resulting in his son's position in the shift.
But there is a broader problem for Samsung and its dozens of affiliates, many of which have flagship names.
According to some estimates, they account for about 30% of South Korea's market value, says economics professor Park Sangin.
The key issue now is the family's control over leadership change.
And whether the company needs to maintain its dominance. Lee Jae-The courage of the third place
A generation has been the de facto leader, heir, but he has not yet had full control. That years-
Long-term family efforts can now be complicated by imprisonment.
"There may be some family grievances, especially if elder Lee, 75, dies," Park said . ". "If Lee Jae-
This gives Samsung a lot of uncertainty.
Stiles is a special correspondent.
On 100 days in office, the South Korean president tried to ease the country's war pressure. S.