samsung leader jay y. lee given five-year jail sentence for bribery - samsung

SEOUL (Reuters)-
Jay Y, president and billionaire of South Korea's Samsung Group.
Li was sentenced to five years in prison on Friday for taking bribes, a watershed for decades in the country --
Long term economic order dominated by strong families
Business Group. After a six-
A one-month trial of the scandal that led to the departure of then-President Park Genn
Ms. Park ruled in court that Ms. Lee paid bribes in anticipation of Ms. Park's help.
The court also found Li guilty of concealing assets, corruption and perjury outside the country. Lee, the 49-year-
The old heir to one of the world's largest corporate empires has been in custody since February for bribing Park to help control a conglomerate with Samsung Electronics, the world's leading smartphone and chip makers are interested in everything from medicines and household appliances to insurance and hotels.
Li is a man of stone and sea.
In a court in Seoul, he was dressed in a dark suit but did not wear a tie, carrying a document envelope and returned to his detention center under the escort of a Justice Department official.
"This case is Li's business.
Executives at Yong and Samsung have been preparing for Lee's succession. . .
Seoul Central District Court Judge Jin paid bribes to the President
Said by Lee's Korean name.
Mr. Kim said Mr. Lee, the successor to the Samsung group, "will benefit the most from any political interests of Samsung ".
Li denied any wrongdoing. Song Wu, one of his lawyers
He said he would appeal.
"The whole verdict of guilt is unacceptable," Song said . " He added that he believed his client's innocence would be affirmed by the Superior Court.
The case is expected to appeal to the Supreme Court next year.
The five year-sentence -
This is one of the longest time for South Korean business leaders.
It is a landmark of South Korea, home in South Korea
Business group-or chaebols -
Has long been respected for helping change the war
The country has become a global economic power.
But recently, they have been criticized for blocking the economy, killing small businesses and start-ups --ups.
Samsung, a symbol of the rise of the country from poverty after 1950-
The Korean War has become a microcosm of the intimate and corrupt relationship between politicians and the chaebol.
Chang Hai said: "This ruling is a turning point for the Tide people.
Professor Jin is a business professor at the Korea Institute of Advanced Science and Technology.
"In the past, priests were not afraid of the law because they were very tolerant.
Now, Li's ruling sets a precedent for strict enforcement of the law, and financial valves should be vigilant.
According to South Korean law, a sentence of more than three years cannot be suspended. The third-
In fact, as President of the powerful Samsung group, since his father Lee Kun-
In 2014, hee lost his ability to work due to a heart attack.
Some investors are concerned that a long-term leadership vacuum could affect decision-making.
The group has more than 50 subsidiaries and 363 of its assets. 2 trillion won ($322. 13 billion).
Its listed companies account for about 30% of Korea's KOSPI stock market capitalization.
Many tycoons, including Li's father, were convicted of bribery, corruption and tax evasion in the past, but were later pardoned by the president. Because the government and the public are worried that being too harsh on them will hurt the economy.
But Moon Jae-in, South Korea's new liberal president
Who won a possible election, has promised to control priests, give minority shareholders power, and end the practice of pardoning tycoons convicted of white crimescollar crime.
In a statement, President Blue House said it hoped the ruling would be "an opportunity to end the business and political relationship that is hindering the country's development ".
In an interview with Reuters on June, Mr. Moon said he did not believe Samsung's business relied solely on Lee.
"Samsung's share price rose when Lee was detained," Moon said . ".
"If we can successfully reform the functioning of the church and increase transparency, I believe it will not only help the economic strength of Korea, but also make the chaebol themselves more competitive.
Investors say the price of shares traded by chaebol companies is lower than that of other companies because their corporate governance is opaque --the so-
Korean discount
Shares of Samsung Electronics fell more than 1%, while other group companies such as Samsung C & T and Samsung SDS also fell after the verdict.
The court said that Samsung's financial support for the entity supported by PARK GEUN-HYE's friend Cui Shunshi --
Bribery has been constituted, including seven. 2 billion won ($6. 4 million)
Sponsor Cui's equestrian career.
In return, the prosecution said, Samsung sought government support for the 2015 merger of its two affiliates, which helped Mr. Lee tighten control over the group.
His lawyer argued that the merger was for commercial reasons.
Some criminal lawyers believe Li was innocent on major charges because most of the evidence at the trial was side-by-side.
Lawyers say the court of appeal and the Supreme Court may place more emphasis on the direct exchange of evidence provided by prosecutors.
Ms. Park, who is forced to step down, will face her own corruption trial and is expected to rule later this year.
Prosecutors argue that Park Geun-hye and Lee are also involved in the same bribery.
So Li's conviction is ominous for the former president.
Hundreds of PARK GEUN-HYE stubborn supporters gathered outside the court on Friday expressed anger at the ruling.
"Our ultimate goal is to announce PARK GEUN-HYE's acquittal"joon, a 62-year-
Former construction workers said.
"We are concerned about how the guilty verdict against Lee today will affect PARK GEUN-HYE's decision.
"Compared to the large number of people in Seoul every week calling for Ms. Park to step down, these supporters are a minority. The bribery scandal surfaced late last year.
The public approval of Lee's lawsuit could highlight the growing frustration of Asia's fourth-largest economy.
The wealth accumulated by large enterprise groups is not the largest economy in decline.
"I think it is difficult for the courts to ignore public opinion given the scandal that shocked the country," said Chongyang --
Research, ceo of Research company. com. “The five-
Given the fact that he was convicted of all charges, the annual sentence was low.
Considering the importance of Samsung to the economy, I think the court's judgment on him is light.