Two Samsung execs stand down amid a corruption scandal that led to boss Jay Y. Lee’s arrest 


Two senior Samsung executives have offered to resign, taking responsibility for the mobile phone giant’s involvement in a scandal involving South Korean President Park Geun-hye.

According to a report by Yonhap news agency, Vice Chairman Choi Gee-sung and President Chang Choong-gi have offered to resign. Both were already identified as suspects by the South Korean special prosecution when they arrested Samsung boss Jay Y. Lee’s last week.

Lee is accused of paying 43bn won (£30.2m) in bribes Choi Soon-sil, a friend of the President in addition to embezzlement and perjury.

Geun-hye was impeached by parliament and is waiting to see if the move will be upheld by law courts – if so she will be South Korea’s first democratically elected leader to be forced from office.

Yonhap didn’t say whether the two execs have formally submitted their resignation or whether they will remain with the group in another capacity.

Samsung did not immediately comment on the report.

Source: CITYA.M.

Leave a Comment

Broker Cyprus TopFX