[Mhiz Rebecca]

Heir of technology giant 'Samsung' - Lee Jae-yong, 48,
has been arrested in connection with South Korea’s
political corruption scandal. He is the highest-profile
business figure engulfed by the influence-peddling
scandal that is poised to topple President Park Geun-
hye, who was accused of soliciting funds from major
corporations for her non-profit foundations in return for
political favours.
She has since been stripped of her powers while the
constitutional court deliberates her impeachment by
parliament.
Lee Jae-yong who is actually the vice-chairman of
Samsung Electronics and grandson of the group’s
founder, has been leading the Samsung Group since his
father and chairman Lee Kun-hee was hospitalised with a
heart attack in 2014. Restructuring plans have been in
motion to make him the official leader.
Lee who normally lives in a $4million mansion in the
capital Seoul, is being held in a cell after being accused
of paying about Won43bn ($37m) in bribes to a
confidante of President Park Geun-Hye to secure policy
favours to smooth his succession and more. Although
he admitted making political donations to Ms Park, he
denied that they were aimed at getting any business
favours in return.
The judge rejected prosecutors’ request to arrest Park
Sang-jin, the president of Samsung Electronics, who
was involved in arranging the financial support for Ms
Park, but claims he was following Mr Lee’s orders.
Lee has also accused him of hiding assets overseas,
concealing profits made from illicit business activities
and lying under oath during a parliamentary hearing
about his role in the influence-peddling scandal.
In a statement addressing his arrest, Samsung said: “We
will do our best to ensure that the truth is revealed in
future court proceedings.”