The Seoul Central District Court has issued a warrant against Samsung Electronics vice chairman, Lee-Jae Yong aka JY Lee in connection with the corruption probe involving South Korean President and her friend. The same court turned down the arrest warrant request last month but granted it this time as prosecutors levelled more charges on Lee […]
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Samsung’s JY Lee and another executive can get arrested in South Korea
South Korean prosecution is coming hard at Samsung chief’s son, JY Lee (Lee Jae-yong). The special prosecutor’s office in South Korea grilled JY Lee for more than 15 hours for his involvement in bribing the president as well as embezzling and hiding assets overseas. The prosecution office has sought a warrant to arrest Samsung vice […]
Samsung ends 2016 on a high with better profitability in Q4
Samsung today released their Q4 2016 results and it looks pretty for the Korean conglomerate despite being a difficult year. The quarter that ended on December 31, 2016 recorded a revenue of 53.33 trillion won and recorded an operating profit for the quarter at 9.22 trillion won. For the whole year, Samsung posted a revenue […]
South Korea mulls JY Lee’s arrest, Samsung Group refutes charges
UPDATE: The prosecutors are seeking a new arrest warrant against JY Lee. Read here. Worries don’t seem to leave Samsung off late. Prosecutors in South Korea are looking to arrest, Jay Y Lee, son of Kun-hee Lee for a bribing scandal involving the country President. The prosecutors allege that younger Lee had donated about 43 […]
Samsung reveals Earnings Guidance for Q4 2016
It’s that time of the quarter! Samsung has released its earnings guidance for the last quarter of 2016. According to the estimates based on K-IFRS, Samsung’s consolidated sales is around 53 trillion won whereas the consolidated operating profit around 9.2 trillion won mark. Samsung’s full-year consolidated sales is estimated to be approx. 201.54 trillion won […]