Samsung's Lee Questioned for 15 Hours in Korea Bribery Probe

EghtesadOnline: Jay Y. Lee, the de facto head of the Samsung Group, has returned home after being questioned for the second time over influence-peddling allegations including bribery that led to the impeachment of South Korea’s president.

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14 February 2017

Lee, vice chairman of Samsung Electronics Co., was questioned for 15 hours and left the special prosecutor’s office around 1 a.m. Tuesday without answering questions from a group of reporters. Lee spent most of Monday at the investigator’s office, along with two other executives. At his first appearance last month, Lee was held for 22 hours.

According to Bloomberg, the 48-year-old heir apparent is accused of participating in payments that Samsung made to a close friend of South Korean President Park Geun-hye allegedly in exchange for government support in the company’s succession planning. Lee has denied wrongdoing and said Monday morning before questioning that he would “earnestly” speak to prosecutors. The prosecutor, whose request to arrest Lee was rejected by a court in Seoul on Jan. 19, may seek another warrant as early as this week based on additional information.

"In addition to bribery, embezzlement and perjury, more charges will likely be added," said Hong Jung-seok, a spokesman for the special prosecutor’s office. The prosecutors plan to elaborate on the new allegations during a briefing today.

A prolonged investigation into the latest political scandal surrounding Park and the country’s large business groups could potentially affect succession plans at Samsung, with some major management plans already being delayed. Samsung shares were little changed in Seoul Tuesday.