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13:37 / Monday, 18 January 2021 / OSH

Samsung boss convicted of corruption

Samsung heir Lee Jae-yong was sentenced to two years and six months in prison by a high court in South Korea for involvement in corruption.

Lee, 52, was initially convicted of bribing an associate of former President Park Geun-hye and was jailed for five years in 2017.

He denied wrongdoing. His sentence was reduced and suspended on appeal, and he was released after serving one year.

The Supreme Court then sent the case back to the Seoul High Court, which made the new decision on Monday.

Samsung, the world's largest smartphone maker, is the largest family-controlled conglomerate that dominates South Korea's economy.

Samsung's total turnover amounts to 20 percent of South Korea's gross domestic product.

Lee has been at the helm of Samsung for several years after his father fell ill following a heart attack. His father died in October.