A Tougher Climate for Corporate Pardons Faces Samsung's Lee
- Samsung’s heir-apparent Jay Y. Lee arrested in bribery probe
- Previous chaebol heads have spent little or no time in jail
This article is for subscribers only.
If Jay Y. Lee, the de facto head of South Korea’s largest conglomerate, is convicted on bribery charges, he would join a long list of chaebol executives sentenced to jail time including his father, who twice faced imprisonment.
Samsung Group’s Lee was formally arrested on allegations of bribery, perjury and embezzlement Friday, an extraordinary step that jeopardizes his ascent to the top role at the world’s biggest smartphone maker. Convicted executives of the family-run conglomerates that dominate business in Korea often get their sentences reduced or suspended -- and eventually a pardon from the president. On that basis, Lee, who’s denied the allegations, might not be expected to spend much time in jail.