Vice-Chairman of Samsung Group, Lee Jae Yong said to be guilty of bribery convictions is released after a verdict suspended his prison sentence.
The Samsung empire founded by Lee Byung-Chull in 1938 was also charged with a smuggling case, which involved his fertiliser manufacturing subsidiary in 1966. The charges were withdrawn after ‘donating’ the company to the state.
Also known as Jay.Y.Lee, the Lee junior was sentenced to prison for five years for bribing the South Korean president at the time: Park Geun-Hye. However, he spend a year in prison, and his conviction charges were released after an appellate court suspended his sentence for the remaining years.
He began his career at Samsung Electronics in 1991, went on to become an executive in 2001, and took over as vice-chairman in 2012. But the company’s exponential growth and performance is mainly credited to his father—Lee Kun-Hee also found guilty of tax evasion and bribery in 1996.
The Lee junior has a degree in Asian history at South Korea’s top Seoul National University. Later he pursued his third-level education at Keio University and Harvard University.