Late last year, South Korean prosecutors raided the Samsung headquarters as the company played a part in the scandal the involved South Korean President Park Geun-hye. Unfortunately for Samsung, that isn’t the end of the story as it appears that the South Korean prosecutors are currently seeking a warrant to arrest the head of Samsung Group Lee Jae-yong.
Better known as Jay Y. Lee, the de facto head of Samsung Group and Vice Chairman of Samsung Electronics Co. is being accused of bribery in exchange for political favours. Investigators believe that Lee had bribed Choi Soon-sil, Park’s confidant, in exchange for government support in the company’s succession planning as well as the merger between Samsung C&T Corp and Cheil Industries.
While the warrant has yet to be issued as of the time of writing, the mere thought that Samsung’s head may be arrested over a political scandal can have grave consequences for the company. On top of that, considering the fact that Samsung is one of the biggest companies that operate in South Korea, anything that happens to the company will also directly impact the economy of the country.