A South Korean high court finds Samsung's acting head Lee Jae-yong guilty of corruption
Samsung's Lee Jae-yong has been embroiled in a controversy in which he has been found to have bribed the ex-president of South Korea, Park Geun-hye, in order to ensure his accession to the top spot at the electronics company.
The accusation is part of a larger scandal that was uncovered several years ago, ultimately culminating in Park's impeachment in 2017. However, its fallout is still being dealt with by South Korean authorities, resulting in consequences such as Lee's latest sentencing. The erstwhile company cheif had returned from detention to hear this latest ruling.
That 12-month confinement may count towards his new jail term; then again, his legal team is reportedly preparing to appeal it. The court's decision has been welcomed by South Koreans who have taken issue with corporate regulation in their country and how it is affected by relationships between large firms such as Samsung and the government.
Opponents of this stance, however, argue that the loss of Lee at Samsung would deprive it of the leadership necessary to compete with the likes of Apple. The executive also has public support as he is credited with working to prevent economic hardship for his native country during the Covid-19 crisis.