S. Korea Court Rejects Arrest Warrant For Samsung Heir

S. Korea court rejects arrest warrant for Samsung heir

SEOUL, (Pakistan Point News - APP - 19th Jan, 2017 ) : A South Korean court on Thursday refused to authorise the arrest of the heir to the samsung business empire, in a setback to prosecutors probing a corruption scandal engulfing President Park Geun-Hye. Officials on Monday sought the arrest of Lee Jae-Yong on charges of bribery, embezzlement and perjury, sending shock waves through the group, which is a major part of the South Korean economy and includes the world's largest smartphone maker.

It is already reeling from the debacle over the recall of its flagship Galaxy Note 7 device and reports have suggested it could face sanctions from overseas authorities if Lee is punished. Lee, who became Samsung's de facto head after his father suffered a heart attack in 2014, is accused of bribing Choi Soon-Sil, Park's secret confidante at the centre of the scandal, and receiving policy favours from Park in return. But the court rejected the request on grounds of insufficient evidence, which could mar investigators' plan to question Park -- impeached by parliament last month -- on charges of bribery. A spokesman for the prosecution team described the decision as "very regrettable" but said they will "carry on with our probe without wavering". Analysts questioned the decision.