Samsung Chairman arrested.. Lee Jae-yong faces charges of bribery

2016 was one the worst years in the history of the South Korean giant Samsung, and it looks like this year will not be much better for them. After the Note 7 scandal, When smartphones started to inflame and explode in the users hands, Today Samsung has to deal with new scandal

Lee Jae-yong, the vice chairman of Samsung, has been arrested this morning shortly after the Seoul Central District Court issued a warrant for his arrest on charges of bribery, embezzlement, and perjury.

In fact, Lee is considered as the head of the Samsung group after putting his father in a hospital due to its health conditions back in 2014.

What is the accusation?

Lee Jae-yong is accused of paying $36 million in bribes to Choi Soon-sil who is an advisor and a close friend to the President of the South Korea, Park Geun-hye, in return for political favors.

Prosecutors claim that these bribes were paid to win the government support for merging two Samsung affiliates in 2015 to help Mr. Lee to inherit corporate control from his incapacitated father, Lee Kun-hee, the chairman.

Samsung, which is one of the most valued company in the world, a national symbol of power, wealth and technological innovation, the company that’s involve in manufacturing likely anything you can think of.

Mr. Lee is the first head of the conglomerate ever to be arrested on corruption charges.

Between its exploded phones last year and the arresting of its head this year, what kind of future is waiting for the South Korean giant in the near future?

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