2/21/2021, 4:04 AM (Source: TeleTrader)
more TeleTrader news

Samsung chairman to be dismissed as foundation chief

Head of Samsung Group Lee Jae-yong (pictured), will reportedly be dismissed as head of a Samsung Life Public Welfare Foundation as he is imprisoned over bribery, Yonhap reported. The board meeting will be held next month.

Lee was sentenced to two and a half years in prison in a case that involved also former President Park Geun-hye.

Seoul city government official stated that "as Lee received a prison term, he does not appear fit for the head of a social welfare foundation. The foundation is known to have a plan to appoint a new chief after dismissing him."

Baha Breaking News (BBN) / TF