South Korean prosecutors sought an arrest warrant Thursday for Samsung vice-chairman and heir Lee Jae-yong over a controversial merger of two Samsung units, they said.
Lee is vice-chairman of Samsung Electronics -- the world's largest smartphone maker -- and was jailed for five years in 2017 for bribery, embezzlement and other offences in connection with a scandal that brought down South Korean president Park Geun-hye.Seoul Central District Prosecutors' Office said they were seeking an arrest warrant for Lee on suspicion he had been involved in price manipulation and illegal trading during the 2015 merger of Cheil Industries and Samsung C&T.
Samsung is by far the biggest of the family-controlled conglomerates, or chaebols, that dominate business in the world's 12th-largest economy. Lee was the largest shareholder in Cheil Industries, and critics say Samsung sought to artificially lower the price of C&T to give him a bigger stake in the merged entity -- a key part of the Samsung structure -- consolidating his grip on the conglomerate.
The request comes weeks after Lee apologised for a plan that would have seen him ascend to the leadership of the group -- without going into details -- and vow to end the line of family succession.
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