Some complicated stuff has been going on Korea, Many people had no idea about some of the situation going on with Samsung.
Samsung’s Top Executive and the ‘Royal Heir’ of the throne is obviously from a notable family is headed to jail.
Lee Jae-yong is the son of the previous leader the of Samsung, the elder leader died October 25th after years in coma which made his son the de facto leader of Samsung, yeah it’s a very family-oriented business like a monarchy.
The problem is South Korea has some pretty intense with their rules around inheritance.
The origin of these rules is pretty hard to find, but they take it pretty seriously, one reason could be probably to enforce anti-corruption.
If any family one family gets too powerful, stays too powerful they may have more influence than the government.
Here’s the thing the family’s wealth is estimated at 30 billion dollars their tax bill for him to take over and take the inheritance now that his dad is dead would be 10 billion.
10 billion one-third of the total worth, one can imagine not wanting to pay that that’s pretty significant yeah so they have been trying to find ways to have the succession take place with maybe a little slack.
So this guy the he has been recently involved in bribing officials, these are bribery charges with some horses.
“Samsung provided horses and other payments to a confidant of the former president to win support to help ease his succession”, pretty big right.
So he’s in custody he had a he initially had a sentence and then the sentence was put on hold and they were like hey maybe we should ease up on this guy a little bit.
But now he’s been sentenced to two years and six months in prison that’s not nothing for a multi-billionaire.
Head of Samsung was definitely the vice chairman right now but he’s the
heir to the conglomerate like he would eventually be the dude that’s what you would perceive he’s only 52 right now you got put in some more time.
By the way this situation also brought down the US president goes to show you we don’t pay enough attention to what’s going on in South Korea there’s all kinds of spicy stuff happening.