Samsung’s heir apparent Lee Jae-yong has been placed under arrest in South Korea, accused of bribery and other charges.
The case is linked to a scandal that led to the impeachment of President Park Geung-hye.
Samsung is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of Ms Park, in exchange for government favours.
Mr Lee and the Samsung Group deny any wrongdoing.
The acting Samsung chief was first questioning by prosecutors in January, but they decided then not to arrest him. But he was questioned for a second time earlier this week.
On Friday, the court said it “acknowledged that it is necessary to arrest [Lee Jae-Yong] in light of a newly added criminal charge and new evidence.”
The prosecution will now investigate further have 20 days to file formal charges. The arrest does not reflect a court opinion on guilt or innocence but only means it considers the potential crime very serious or that it assumes a flight risk.
Full Content: Yonhap News Agency
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Spain’s BBVA Remains Optimistic About Hostile Takeover of Sabadell
Mar 18, 2025 by
CPI
BlackRock, Vanguard and State Street Seek Dismissal of Texas Antitrust Lawsuit
Mar 18, 2025 by
CPI
EU to Boost Metal Sectors with Energy Relief and Safeguards
Mar 18, 2025 by
CPI
Players’ Association Sues Tennis Governing Bodies Over Alleged Antitrust Violations
Mar 18, 2025 by
CPI
Turkey Moves to Curb Big Tech’s Power with New Regulatory Bill
Mar 18, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Self-Preferencing
Feb 26, 2025 by
CPI
Platform Self-Preferencing: Focusing the Policy Debate
Feb 26, 2025 by
Michael Katz
Weaponized Opacity: Self-Preferencing in Digital Audience Measurement
Feb 26, 2025 by
Thomas Hoppner & Philipp Westerhoff
Self-Preferencing: An Economic Literature-Based Assessment Advocating a Case-By-Case Approach and Compliance Requirements
Feb 26, 2025 by
Patrice Bougette & Frederic Marty
Self-Preferencing in Adjacent Markets
Feb 26, 2025 by
Muxin Li