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12/30/2020, 11:39 AM (Source: TeleTrader)
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Prosecutors seek 9 years in jail for Samsung heir

Following a retrial, South Korean prosecuting attorneys have requested on Wednesday a nine-year prison sentence for Samsung Electronics' heir and de facto leader Lee Jae-yong (pictured) over corruption charges.

The prosecuting team stated that the company's power is so vast "that people say our nation's businesses are either Samsung or non-Samsung," according to the Yonhap news agency's translation. The company "should demonstrate a firm stance against corruption and set an example," they added.

Lee Jae-yong has been found guilty of bribing former South Korean President Park Geun-hye's associate Choi Soon-sil in an attempt to secure government support once he succeeds his father, the now-deceased Samsung Chairman Lee Kun-he. After the original trial, Lee Jae-yong had been sentenced to a five-year jail term, but the sentence was suspended in 2018. The country's Supreme Court overturned the ruling in August 2019, resulting in a retrial.

Baha Breaking News (BBN) / MS