Samsung scion Lee appeals against five-year jail term for bribery

Sprawling corruption scandal has rocked South Korea

Their quote references allegations that South Korean President Parks offered "repeated and aggressive" requests from Samsung.

The Korean-language message from Samsung Electronics' chief executive, Kwon Oh-hyun, which urged employees to continue to work hard and not be distracted, came just three days after a Seoul court sentenced Lee Jae-yong, the company's vice chairman and the Samsung heir, to five years in prison for bribing South Korea's former president. Instead, at the end of a year ago Lee was implicated in a massive political scandal that culminated in President Park Geun-hye's ouster.

Lee was also found guilty of hiding assets overseas and of perjury for falsely testifying at a parliamentary hearing on the scandal.

Lee Jae-yong was spared the 12-year term demanded by prosecutors, where his sentence is said to be the longest given to any South Korean chaebol leader. Lee has been accused of offering bribes of 38 million United States dollars for various departments after the death of his father.

During the trial, Lee said he had little involvement in Samsung's day-to-day affairs and was often unaware of details of the business.

Lee took up the reins of company after his father, Samsung Group chairman Lee Kun-hee, withdrew from business after suffering from a heart attack in 2014.

Last year, Elliot, which owns a 0.62-percent stake in the Korean chipmaker, called on Samsung Electronics to split itself into two units - a holding company and an operating firm - and list the latter on the tech-heavy NASDAQ market.

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"I think that Lee's sentence will be reduced at the High Court".

The scandal involving Park and Choi broke in October 2016.

His attorneys refused to accept the verdict, saying they were confident Lee would be cleared of all charges in an appeals court according to local news agency Yonhap.

Lee joined the Samsung Electronics board in October 2016 around the time of the launch of the company's Galaxy Note 7 smartphone model that continually caught fire and resulted in a subsequent termination of the model. Lee's succession over Samsung. Twice convicted of tax evasion and bribery, the elder Lee never spent any time in prison.

Industry watchers said Lee's imprisonment will also deal a harsh blow to Samsung's brand reputation around the globe. The court ruled that tapping into the publicly traded company's funds to raise the W8 billion constituted embezzlement, and W3.7 billion of that money was illegally transferred to Germany, where Chung was living.

It led the public to fundamentally question the public nature of the president's work and to have "mistrust in the morality of the Samsung group", it said.

"From the government's perspective, this solves the short-term problem", Park, the professor, said of the guilty verdict.

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