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South Korea: Prosecutor weighs economic impact of arrest of Samsung chief

 |  January 15, 2017

South Korea’s special prosecutor said on Sunday it will take into account the economic impact of whether to arrest Samsung Group, leader Jay Y. Lee in connection with an influence-peddling investigation involving the president.

The office also delayed by one day, until Monday, its decision on whether to seek the arrest of Lee, the third-generation leader of South Korea’s largest conglomerate, or chaebol, citing the gravity of the case.

The special prosecution had said it would make a decision on Lee by Sunday. But spokesman Lee Kyu-chul told reporters on Sunday investigators were deliberating all factors including the potential economic impact of the arrest of Jay Y. Lee.

Prosecutors have been investigating whether Samsung provided $25.46 million to a business and foundations backed by President Park Geun-hye’s friend, Choi Soon-sil, in exchange for the national pension fund’s support for a 2015 merger of two Samsung affiliates.

The Samsung chief denied bribery accusations during a parliamentary hearing in December.

Full Content: Reuters

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