Samsung chief on bribery charge

South Korean prosecutors have charged Samsung chief Jae-yong Lee with bribery and embezzlement as the top conglomerate announced the dismantling of its corporate strategy office, the latest developments in a graft scandal that has rocked the country.

Mr Lee was arrested on February 17 over his alleged role in the corruption scandal involving impeached South Korean president Park Geun-hye, dealing a fresh blow to the standard-bearer for Asia’s fourth-largest economy.

The special prosecutor’s office said yesterday, the last day of its investigation, that it had charged Mr Lee, third-generation leader of the tech giant ‘chaebol’ (a family-owned conglomerate), and four other executives with bribery and embezzlement.