Samsung heir Lee jailed for bribery - News Summed Up

Samsung heir Lee jailed for bribery


Lee, 49, is vice chairman of Samsung Electronics, the world's largest smartphone maker and the flagship of the Samsung Group founded by his grandfather in 1938. Lee's father Lee Kun-Hee went on to build up the tech empire but was convicted of bribery in 1996. He was made vice chairman in 2012, a banner year when Samsung dethroned Apple as the world's top smartphone maker and shattered profit records every quarter. OVERCAUTIOUSIn court, Lee's lawyers and his co-accused, four other former Samsung executives, painted him as an inexperienced and overcautious heir who was side-lined by seasoned Samsung veterans handpicked by his father, in what was seen as a strategy to save him from legal responsibility. Former senior executives consider Lee indecisive and detail-obsessed while lacking broader vision, according to Shim Jung-Taik, author of several books on Samsung, including a biography of Lee Kun-Hee.


Source: Daily Nation August 25, 2017 10:07 UTC



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