Korean prosecutors are once again seeking the arrest of Samsung Electronics vice-chairman Lee Jae-yong. As before, Lee is sought on bribery and embezzlement charges related to the ongoing political scandal involving South Korea’s disgraced former president, Park Guen-hye.
Prosecutors first tried to arrest Lee on January 16th, but their request was denied by a Korean federal judge a few days later.
Citing a lack of evidence, the judge said at the time, “it is difficult to acknowledge the necessity and substantiality of an arrest at the current stage.”
Lee’s arrest would likely throw Samsung and much of the Korean economy into turmoil. The executive is the heir-apparent to the entire Samsung empire, and his company presence extends to almost every corner of the Korean economy. In 2013, Samsung’s revenue was equal to 17 percent of the country’s national GDP.
There’s no word yet on when the public can expect a decision on the arrest order.
[source]Bloomberg[/source]
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