Samsung Billionaire Heir Sentenced To 5 Years In Jail For Bribery

The billionaire Samsung Electronics Vice Chairman and heir, Lee Jae-yong, was sentenced to five years in prison for paying bribes worth 8.9 billion won ($7.9 million) to a friend of then-president Park Geun-hye to win her support for the merger of two Samsung affiliates. The sentence marks a “watershed moment” for the country’s decades-long economic order dominated by powerful, family-run conglomerates.