Samsung leader named a suspect in South Korea political probe
Lee as a suspect in a widening influence peddling scandal that may force President Park Geun hye from office.
Prosecutors have been looking into whether Samsung payments of about 30 billion won ($25 million) for a business and foundations backed by Park friend, Choi Soon sil, were connected to a 2015 decision by the national pension fund to back a controversial merger of two group affiliates.
canada goose Park could become South Korea first democratically elected leader to leave office early after parliament voted in December to impeach her over the corruption scandal, which has triggered big weekly rallies calling for her to step down. The impeachment must be upheld or overturned by the Constitutional Court. ET on Wednesday) over suspicions including bribery. canada goose
He declined to comment on whether Jay Y. Lee or other Samsung canada goose outlet mall executives will be indicted but would not rule out the possibility of the prosecution seeking an arrest warrant against Lee. A Samsung Group spokeswoman declined to comment.
Canada Goose online Proving quid pro quo dealings between the Choi linked organizations and Samsung are critical to prosecution efforts to bolster its case against President Park and show that she, or a surrogate such as Choi, collected bribes in canada goose shop uk exchange for favors, analysts said. Canada Goose online
For Samsung and its founding Lee family, an indictment or conviction of Jay Y. Lee would deal a blow to efforts to secure a stable transfer of control to heirs from ailing patriarch Lee Kun hee.
The conglomerate has undergone major restructuring since 2014 to streamline its ownership structure and consolidate power under Jay Y. Lee and his two sisters.
Park Ju gun, head of corporate analysis firm CEO Score, said while professional managers at affiliates such as Samsung Electronics would be able to keep the companies operating smoothly in the absence of Jay Y. Lee, key initiatives such as acquisitions canada goose outlet black friday sale and investments into new businesses would inevitably be slowed should the 48 canada goose outlet authentic year old be imprisoned.
think Samsung Group is canada goose outlet store montreal facing a bigger crisis than even the death of Chairman Lee Kun hee, he said, referring to billions of dollars in inheritance taxes the Lee family heirs will be forced to pay when their father dies.
SEEKING A LINK Samsung canada goose outlet woodbury has acknowledged making contributions to two foundations as well as a consulting firm controlled by Choi but has repeatedly denied accusations of lobbying to push through a controversial 2015 merger of its Samsung C and Cheil Industries Inc units.
The prosecution this week summoned two senior Samsung Group officials for questioning, though they were listed as witnesses.
Samsung Electronics vice chairman Jay Y. Lee arrives to attend a hearing at the National Assembly in Seoul, South Korea, December 6, 2016. REUTERS/Kim Hong Ji
canada goose uk shop National Pension Service chief Moon Hyung pyo was canadagooseoutletcanada arrested in December after acknowledging he pressured the fund to approve the merger while he was health minister. canada goose uk shop
cheap canada goose uk Park, 64, has described support of the merger as a policy decision made by the world third largest pension fund in the national interest. cheap canada goose uk
Lee denied bribery accusations during a canada goose premium outlet December parliamentary hearing, rejecting assertions from lawmakers that Samsung lobbied to get the fund to back the merger.
canada goose coats The special prosecutors office said on Wednesday it was looking into whether Lee canada goose outlet miami gave false testimony during the parliamentary hearing. canada goose coats
special prosecutor needs Samsung to establish a canada goose outlet ontario potential bribery charge against President Park Geun hye, said Shin Yul, a political science professor at Myongji University.
is the one that has made the biggest contributions among conglomerates and it had an exclusive relationship with Choi Soon sil, buying a horse, Shin said, referring to the firm sponsorship of Choi daughter equestrian career.
canada goose clearance Shares in Samsung units did not move sharply following the news that Jay Y. Lee was named a suspect, as some investors had anticipated the possibility that he could be formally indicted. Shares of Samsung Electronics ended up 2.8 percent, though off its high for the day, after trading at a record 1.928 million won. canada goose clearance
Canada Goose Outlet The shares could see a correction because of heightened uncertainties, but the stock will see support from strong earnings prospects, said HDC Asset Management fund manager Park Jung hoon. Canada Goose Outlet
buy canada goose jacket think some investors are still uncertain on whether the special prosecutors will go as far as arresting and detaining Jay Y. Lee, given the uncertainties such an action might trigger on Samsung companies, he said. buy canada goose jacket
Canada Goose sale In 2008, Lee Kun hee stepped down as Samsung Group chairman after group executives were indicted on suspicion of brokering a sweetheart deal for his children to have a greater ownership stake in Samsung de facto holding company Canada canada goose outlet Goose sale.
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