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.
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.
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
