Samsung chief quits post

Embattled Samsung Group chairman Lee Kun-hee will step down from his post at the top of South Korea’s biggest conglomerate following his indictment on tax evasion charges.

Lee made the announcement at a news conference today, less than one week after he was indicted following a special independent counsel investigation into the conglomerate’s operations.

Lee said he and other Samsung executives had “caused troubles to the nation with the special probe”. He said he takes “full responsibility for everything”.

After Lee spoke, Vice Chairman Lee Hak-soo, considered the chairman’s closest confidante, also announced his resignation as well as that of Lee Jae-yong, the chairman’s son and heir who is an executive at Samsung Electronics Co.