Samsung Chief Walks Free After Prison Sentence Suspended


Enterprise Television- Samsung Chief Walks Free After Prison Sentence Suspended

The de facto leader of the huge Samsung business empire is getting out of jail sooner than expected.

Lee Jae-yong, a 49-year-old billionaire, was found guilty of bribery and other corruption charges in August and sentenced to five years in prison. But a higher court on Monday cut the sentence to two and a half years and suspended it for four years.

Lee’s lawyers said they respected the court’s decision but would seek to clear him of the other charges before the country’s Supreme Court.

Experts said Monday’s decision to set him free was the latest example of South Korea’s powerful tycoons getting lenient treatment in the country’s courts.

Samsung Electronics (SSNLF), the biggest and most profitable part of the group, has continued to perform strongly during Lee’s incarceration. Last week, it reported its biggest ever annual profit.