Samsung appeals against illicit gain

Oct 11, 2005

Samsung appealed Tuesday a ruling that its chairman was involved in a deal to transfer control of the company from father to son.

The South Korean electronic giant's Chairman Lee Kun-hee has been accused of buying bonds at prices lower than market value. The government is arguing that the deal increased the chairman's son Lee Jae-yong's shareholding in the company, as well as allowing him to make considerable profits illegally.

Hur Tae-hak, a former Samsung executive, was found guilty of initiating the transaction last week.

Copyright 2005 by United Press International

Explore further: Google hits back at rivals with futuristic HQ plan

add to favorites email to friend print save as pdf

Related Stories

As Samsung falters, mysterious scion in the wings

Nov 05, 2014

As Samsung's smartphone business suffers a dizzying decline, another issue is vexing investors. Command of one of the world's most valuable consumer brands will eventually pass to the son of its ailing patriarch ...

When to teach children about violent extremism

Mar 06, 2014

Dealing with the rise of homegrown terrorism has prompted governments to take novel approaches in combating such threats. The UK government, for example, has recently pushed for schools to teach children as young as four about the dangers of violent extremis ...

Samsung to create new office for group affairs

Nov 19, 2010

(AP) -- Samsung will create a new organization to coordinate the group's sprawling businesses after a previous one was closed in 2008 amid a corruption scandal that rocked the massive conglomerate.

Recommended for you

Google hits back at rivals with futuristic HQ plan

19 hours ago

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Barclays to allow payments by using Twitter handles

23 hours ago

The next chapter in banks moving into the digital age is a stretch beyond reminding customers over phone lines that they can also bank online. Barclays has launched Twitter payments through Pingit.

Pebble smartwatch nears Kickstarter record

Feb 27, 2015

The latest version of the Pebble smartwatch neared a record funding amount on Kickstarter on Friday amid growing interest in wearable tech and ahead of the highly anticipated Apple Watch launch.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.