South Korea seeks to arrest Samsung boss

South Korean prosecutors today requested an arrest warrant for the de facto boss of electricals giant Samsung, over allegations of bribery, embezzlement and perjury in a massive corruption scandal linked to the impeachment of South Korea’s president.

It is claimed that Samsung’s heir apparent, Lee Jae-yong, one of South Korea’s most high-profile corporate figures, paid 43 million won (£30,100) in bribes to Choi Soon-sil, a friend of impeached president Park Geun-hye, to secure government backing for him to take charge of Samsung.

The allegations of lying under oath follow Lee’s marathon 22-hour interrogation by investigators last week.

Part of the money allegedly given to Choi by Lee, who is in line to take over the firm from his ailing father, was embezzled, prosecutors claimed.

Lee denies the allegations. Samsung had been trying to secure Lee’s formal succession at its helm after a poor 2016, riven by profit warnings and the embarrassing recall of its exploding Galaxy Note 7 smartphone. It said: “It is difficult to understand the special prosecution’s decision, because Samsung did not make contributions in order to receive favours.”

A court will decide whether to issue the warrant on Wednesday.