Days after Launching new Galaxy Smartphones, Samsung s Leader is Sentenced to 2.5 Years in Prison for Bribery
Last week Samsung was flying high with the introduction of new Galaxy smartphones and today, Samsung has been struck by the news that their leader, Lee Jae-yong, has been handed another 2.5 year jail sentence for Bribery.
The country s largest conglomerate has hit a major setback after an appellate court handed a prison sentence of two-and-a-half years to Samsung Electronics Vice Chairman Lee Jae-yong in a re-hearing of a major bribery case, Monday.
The court ruling puts the tech giant back into a leadership vacuum hampering major investment decisions in new businesses, which many expect will hurt the company s global competitive edge.
What industry wants from Moon s conference
Posted : 2021-01-14 16:59
Updated : 2021-01-14 21:11
Four leading conglomerate heads greet each other during a New Year ceremony held at the Korea Federation of SMEs Grand Hall in Seoul, Jan. 2, 2019. From left Samsung Electronics Vice Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo. / Yonhap
By Kim Hyun-bin
President Moon Jae-in is scheduled to hold a New Year s press conference later this month, while businesses in the country are on the lookout for comments that could affect their respective sectors.
The progressive administration has pushed ahead with the passage of new bills and regulations in recent years aimed at bolstering the rights and welfare of workers, raising the minimum wage and shortening mandatory work hours.
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