BREAKING NEWS

Samsung chief arrested over corruption allegations

By REUTERS

FEBRUARY 17, 2017 03:37

SEOUL - Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal that led parliament to impeach South Korean President Park Geun-hye, dealing a fresh blow to the world's biggest maker of smartphones.

The 48-year-old Lee, vice chairman of Samsung Electronics Co Ltd, was taken into custody at the Seoul Detention Center, where he had awaited the court's decision following a day-long, closed-door hearing that ended on Thursday evening.

The judge's decision was announced at about 5:30 a.m. (2030 GMT) on Friday, more than 10 hours after Lee, the sprawling conglomerate's third-generation leader, had left the court.

Shares in Samsung Electronics opened down 1.2 percent, while shares in Samsung C&T Corp, the de facto holding company of Samsung Group, opened down 3.2 percent compared with the wider market's drop of 0.45 percent.

A spokeswoman for Samsung Group said no decision had been made about whether Lee's arrest would be contested or whether bail would be sought.

Police Lahav 433 Unit investigates beginning of war incidents

By JERUSALEM POST STAFF

11/05/2024 04:38 PM

Israel strikes in Al Qusayr, Syria - report

By JERUSALEM POST STAFF

11/05/2024 04:33 PM

Trump: Kamala will start WW3, get millions of Muslims killed

By JERUSALEM POST STAFF

11/05/2024 01:10 PM

Putin tells Western diplomats Russia is committed to cooperation

By REUTERS