Corruption is not accepted in any business, organization, and department of the world. And for this reason, the heir of the Samsung Lee Jae-Yong jailed for five years because he was involved in crimes like bribery, perjury, and some other crimes.
On Friday the Seoul Central District Court imprisoned, the vice-chairman of the Samsung Electronics Mr. Lee who is 49 years old. Samsung is the world’s largest smartphone maker. And the vice-chairman is involved in the corruption scandal that brought down expelled president Park Geun-Hye.
The corruption which is done by the Lee will shake the giant firm rudderless for years and obstruct its capability to make strategic investment decisions.
Mr. Lee Jae-Yong is the son of the Samsung group chairman Lee Kun-Hee. His father spends all his life for the improvement and betterment of the company. This company was founded in the year 1938 by his grandfather. This is the firm which dominates the Asia’s fourth-largest economy. Some of the South Koreans self-mockingly nickname the “Republic of Samsung”. This firm has a very strong position in the national GDP, it is fifth in GDP of its country and it also has very strong links with the political authorities.
The vise-chairman of Samsung when stepped from the judiciary bus, he was handcuffed, bound with a white rope around his dark jacket and he has a packet of documents when he walked into Seoul Central District Court. Prosecutors had demanded a 12-year imprisonment for him but in the end, it comes to five years.
Mr. Lee has multiple charges of corruption on him. Which includes fraud, perjury, bribery, curtailing from the scandal, and much more.
To avoid the clashes between the rival parties there were almost 800 riot police present at the Seoul Central District Court. This is reported by the Yonhap news agency. To show all this situation live the Court did not give the permission. Many people want to attend this case and there were hundreds of application for 30 seats. And the other 417 seats which were for the public are given to the people by lottery.