A South Korean court has given Samsung vice president Jay Y Lee a 30-month prison sentence on Monday following a landmark bribery case.
Credit: DennisM2 / Flickr
Lee previously served one year in prison before its suspension in the court of appeals in 2018 after he was accused of bribing an associate of former president Park Guen-hye.
He was ordered to retire in 2018, and the new prison sentence could muddle reshuffle attempts for Samsung following Lee's father's death in October.
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His new sentence will count against his former prison time.
The case has been seen as a shift in how South Korea deals with the illicit activities of some of the most prominent business people in the country, following accusations of cosy relationships with politicians.
The case may be appealed within seven days, however, the chance of any kind of reprieve remains low as the court has already ruled against it once.
The Seoul High Court found Lee guilty of embezzlement, bribery and concealment for a total of 8.6 billion Korean won (€6.43 billion).
Presiding Judge Jeong Jun-yeong, said: "Lee has shown willingness for management with newly strengthened compliance, as he has vowed to create a transparent company."
“Despite some shortcomings, I hope that over time, it will be evaluated as a milestone in the history of Korean companies as a beginning for compliance and ethics."
Lee's lawyer, Lee In-jae, told reporters at the scene: “This case involves the former president’s abuse of power violating corporate freedom and property rights. The court’s decision is regrettable."
Lee is set to be sidelined from a number of major decisions affecting Samsung's future and will be unable to see through the matter of inheritance from his father.
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He will also be excluded from key decisions and plans for Samsung to overtake its competitors on the market.
Small-scale events for the company are unlikely to be changed, but any decisions with far-reaching consequences may be affected as a result of Lee's takeover being hindered.
Lee is expected to return to the prison in which he served his earlier sentence.
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