Who Will Run the Company with Lee Incarcerated?
On Monday, Samsung Electronics Vice Chairman Lee Jae-yong – also known as JY Lee, J. Y. Lee or Jay Y. Lee – was sentenced to 2½ years in prison for his role in a bribery and embezzlement scheme to influence the President of South Korea in order to increase his share and power in the company. This development is big news in Korea. Samsung Electronics, part of the Samsung family of companies that is the largest conglomerate in South Korea, by itself represents almost 20% of the entire value of all exports from Korea.
