© Reuters. Samsung Electronics Vice Chairman, Jay Y. Lee, speaks throughout a information convention at an organization’s workplace constructing in Seoul
By Joyce Lee
SEOUL (Reuters) – A South Korean court docket sentenced Samsung Electronics (OTC:) vice chairman Jay Y. Lee to 2 and a half years in jail, the court docket mentioned on Monday, which can have main ramifications for his management of the tech big in addition to Korea’s views towards huge enterprise.
With this, Lee can be sidelined from main choice making at Samsung (KS:) Electronics because it strives to overhaul opponents, and from overseeing the method of inheritance from his father, who died in October, essential to conserving management of Samsung.
Lee, 52, was convicted of bribing an affiliate of former President Park Geun-hye and jailed for 5 years in 2017. He denied wrongdoing, the sentence was lowered and suspended on attraction, and he was launched after serving a yr.
The Supreme Court docket then despatched the case again to the Seoul Excessive Court docket, which issued Monday’s ruling.
Below South Korean legislation, solely a jail time period of three years or fewer could be suspended. For longer sentences, the individual should serve out the time period barring a presidential pardon. With Lee returning to jail, the yr he already served in detention is predicted to depend towards the sentence.
Monday’s sentencing could be appealed to the Supreme Court docket, however as a result of the Supreme Court docket has already dominated on it as soon as, chances are high decrease that’s authorized interpretation will change, authorized consultants mentioned.
“In a case despatched again by the Supreme Court docket, there’s a narrower vary of choices for the judges’ bench… but it surely’s additionally true that the Supreme Court docket cannot actually contact the ultimate court docket’s sentencing,” mentioned Rha Seung-chul, a lawyer not related with the case.
Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or injury because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote indicators contained inside this web site. Please be absolutely knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding types doable.