SEOUL (Reuters) – A South Korean court sentenced Samsung Electronics vice chairman Jay Y. Lee to two and a half years in prison, the court said on Monday, which will have major ramifications for his leadership of the tech giant as well as Korea’s views toward big business.
With this, Lee will be sidelined for the time being from major decision making at Samsung Electronics as it strives to overtake competitors. He will also be unable to oversee the process of inheritance from his father, who died in October, crucial to keeping control of Samsung.
Lee, 52, was convicted of bribing an associate of former President Park Geun-hye and jailed for five years in 2017. He denied wrongdoing, the sentence was reduced and suspended on appeal, and he was released after serving a year.
The Supreme Court then sent the case back to the Seoul High Court, which issued Monday’s ruling.
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