Samsung leader sentenced to two-and-a-half years in jail for bribery charges 

Samsung leader Lee Jae-yong was sentenced to a two-and-a-half year jail term on Monday by a court in Seoul for bribing South Korea’s former President.

Lee was taken into custody following the verdict by the Seoul High Court.

The Samsung leader was firmed jailed in 2017 and sentenced to a five year prison term for bribing former President Park Geun-hye to gain support for a merger between two Samsung companies that saw his control over the conglomerate increase.

He was freed after an appellate court gave him a suspended sentence in 2018. Lee had served 353 days of this sentence and the latest prison term will deduce this.

But in 2019, the Supreme Court ordered a retrial, saying the appellate court wrongly dismissed some of the evidence and reduced the bribery amount.

The Seoul High Court said it took into account that it was Lee’s first criminal offense, the fact that Park demanded the bribe first and for repaying all the alleged embezzled funds for the bribery.

However, the court said Samsung also actively provided bribes to Park. It also said Lee provided 8.68 billion won in bribe embezzled from Samsung Electronics and perjured himself about it in the National Assembly.

Samsung had formed a compliance committee during the retrial following the suggestion of the court. But the court said the company’s committee didn’t sufficiently guarantee the effectiveness of the group and therefore it won’t be taken into deciding the prison term.

Lee had been actively touring Samsung’s various facilities and businesses earlier this year but the prison term will now prevent this.

Samsung’s share prices fell 3.41% at its closing on Monday to 85,000 won per share.