Samsung Verdict Sends a Tough New Message to South Korea Inc.

From New York Times, “More than two decades ago, South Korean prosecutors indicted the chairman of the powerful Samsung conglomerate on charges of bribing the president. He was let off with a suspended sentence and then a presidential pardon.

About a decade later, he was indicted again, on tax evasion and embezzlement charges. And again he escaped prison time.

Lee Jae-yong, the third-generation heir to the Samsung empire, was sentenced to five years in prison over a bribery scandal that has already contributed to the downfall of the country’s former president and shaken the country’s political and economic foundations.

Mr. Lee and four other Samsung executives were convicted on Friday of paying $7.8 million in bribes and other inducements to ensure that the country’s disgraced former president, Park Geun-hye, supported a complicated corporate deal. That deal strengthened Mr. Lee’s grip on Samsung Electronics, the famous maker of smartphones and televisions and the conglomerate’s crown jewel.”

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