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Taxpayers must pay the freight for over-budget train projects
Topic - Lee Kun-Hee
A South Korean lawmaker known for criticism of the Samsung conglomerate has forfeited his seat in parliament after the Supreme Court ruled he violated communications laws by publishing incriminating wiretaps of conversations between Samsung officials on the Internet.
The chairman of Samsung Electronics has kept his fortune and control of the Samsung conglomerate after a South Korean court Friday ruled against his older brother in an inheritance battle.
A South Korean court is expected to rule Friday on an inheritance battle that has rocked the powerful Samsung conglomerate.
Samsung Electronics Co. promoted its chairman's only son to vice chairman, putting the 44-year-old closer to the top leadership position at the world's largest maker of memory chips, mobile phones and TVs.
A U.S. jury's $1 billion verdict against Samsung for what rival Apple claimed was the illegal copying of its iPhone and iPad designs signals a turning point for the South Korean electronics giant known for its prowess in adapting the innovations of others and nimbly executing production.
A feud over the riches of South Korea's Samsung business empire has erupted in public as family members prepare to take an inheritance battle to court.
Allegations of multibillion-dollar fraud at banks and revelations by South Korea's top business conglomerate of shady dealings are forcing the country to grapple anew with a legacy of deep-seated corruption.
The son of Samsung Electronics Co.'s chairman has been promoted to president in a reorganization of top management posts at the conglomerate the giant technology company anchors.
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.
The chairman of Samsung Electronics said Wednesday his son will be promoted to a more powerful executive position, preparing the global technology giant for an eventual change in leadership.
Mr. Lee, South Korea's richest citizen, whose words and actions are closely watched, said that unspecified "irregularities" were found at Samsung Techwin Co., which makes robots and supplies weapons to the South Korean military.
"Corruption in Korea is a kind of time-honored tradition without which social success would be almost impossible," he said.