Samsung heir apparent arrested on bribery charges
Lee Jae-yong, the vice chairman and heir apparent to Samsung Electronics, was arrested early Friday after a court ruled that South Korean special prosecutors delivered enough evidence against him in a corruption case.
Lee, 48, is one of the most powerful men in South Korea, and stands accused of bribery, embezzlement, and perjury. Prosecutors allege that he redirected millions of dollars to companies managed by Choi Soon-sil, a confidant of President Park Geun-hye, in an attempt to gain support for a merger between two Samsung affiliates. Park was impeached by the National Assembly in December, and while her duties have been suspended, she is currently immune from standard criminal charges; if a court rules to make the impeachment permanent, prosecutors would be free to open a criminal case against her.
"This investigation is about civilians, including Choi Soon-sil, meddling in state affairs," a spokesman for the prosecutors said. "There are allegations that Choi used her personal ties to President Park or possibly even colluded with the president to receive money and valuables from Samsung. That's why we are investigating the conglomerate. We are not targeting the conglomerate."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Why Johnson won't just pass Ukraine aid
Speed Read The House Speaker could have sent $60 billion in military aid to Ukraine — but it would have split his caucus
By Peter Weber, The Week US Published
-
Winchcombe meteorite: space rock may reveal how water came to Earth
The Explainer New analysis of its violent journey confirms scientific theories on the origin of our planet's H2O
By Sorcha Bradley, The Week UK Published
-
Liz Truss to save the West: is a political comeback really on the cards?
Talking Point The former prime minister is back with a new tell-all memoir
By Richard Windsor, The Week UK Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published