Samsung’s billionaire heir-apparent Lee Jae-yong has been jailed for five years following corruption charges.
The BBC reports that Mr Lee was accused of bribery involved in a scandal that resulted in the impeachment of South Korea’s former president.
Mr Lee, who was detained since February for corruption charges denied all charges and faced a jail sentence of up to 12 years.
Amongst the charges, Mr Lee was accused of bribery, embezzlement and hiding assets overseas. He allegedly gave donations of 41bn won to non-profit foundations operated by a friend of former President Park Geun-hye’s friend Choi Soon-sil.
In return, Lee would receive political favours. Prosecutors claimed that Mr Lee’s donations secured government support for large restricting of Samsung, which would strengthen Mr Lee’s over all control of the company.
Choi Soon-sil has already been jailed for three years for corruption.
Mr Lee’s lawyer said they will appeal.
“We are confident the ruling will be overturned,” lawyer Song Wu-cheol said.
Since his father, Lee Kun-hee died in 2014 from a heart attack, Lee Jae-yong has been standing in as chairman of Samsung.
