Samsung Electronics Vice Chairman Lee Jae-yong dodged arrest on Wednesday when a South Korean court threw out the prosecutors’ request for an arrest warrant. The company and its leadership are being investigated over allegations of corruption, bribery and embezzlement in South Korea’s influence-peddling scandal. After being released from the detention center where he was held until the court handed down its ruling, the vice chairman went back to his office early on January 19 to meet with the top brass of the company.
Local media reports reveal that Lee Jae-yong held discussions with the top brass of Samsung on preparations for the ongoing investigation against him. Important management issues were also discussed in the meetings. A Samsung official told a local newspaper that the vice chairman had a meeting with members of the Future Strategy Office for an hour. The FSO is the de facto control tower of the country’s largest conglomerate.
The prosecutors are not likely to give up now and if they uncover more evidence they could try and push for an arrest once again. Even though Lee Jae-yong has had a slight reprieve, he and the company will remain on edge until this investigation is closed. The threat of a leadership vacuum will continue to loom over Samsung.
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