Skip to: Content
Skip to: Site Navigation
Skip to: Search

November 23, 2008 2:30:28 CST

Learn about Newser Points »

« Back to the grid | Next story »

Samsung Chairman Resigns

Posted Apr 22, 08 7:00 CDT in World,  Business 

(Newser) – The chairman of Samsung, Korea's leading exporter, has resigned after being indicted on multiple counts of tax fraud and breach of duty. Lee Kun-hee, whose resignation speech was carried live on all of South Korea's TV networks, has controlled the Samsung consortium since 1987. Lee, his wife, his son, and nearly a dozen other execs have been implicated in the scandal.

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Ex-Samsung Boss Convicted in Tax Case

    Jul 16, 08 6:20 CDT
    Ex-Samsung Boss Convicted in Tax Case A South Korean court convicted former Samsung Chairman Lee Kun-hee of tax evasion today, but handed the country's iconic business figure a 3-year suspended sentence, leaving him free from prison, reports the AP. The Seoul court found Lee, who resigned in April when the charges were brought, guilty of not paying about $46 million in taxes and fined him $109 million. More »

  • Samsung Head Indicted for Tax Fraud

    Apr 17, 08 6:43 CDT
    Samsung Head Indicted for Tax Fraud The chairman of electronic giant Samsung will stand trial for tax evasion and breach of duty after special prosecutors alleged corruption in South Korea's largest industrial corporation. Lee Kun-hee was indicted in Seoul today for evading $114 million in taxes and for incurring losses at Samsung while installing his son in leadership positions, Bloomberg reports. Nine other execs at Samsung were also charged with crimes. More »

  • German Tax Case Reads Like Spy Thriller

    Feb 26, 08 5:34 PM CST
    German Tax Case Reads Like Spy Thriller Code names, kidnappings, secrets sold to international intelligence agencies: these staples of a thriller movie come from the real life of Heinrich Kieber, the whistleblower who for $7.4 million sold German authorities the information that exposed a huge tax-evasion ring. Kieber has been given a new identity and is living in hiding, but an exposé by Der Spiegel has uncovered past convictions, international adventures, and one very worried mother. More »

  • Samsung Ramps Up Plans for Bigger Flat-Screens

    Nov 23, 07 9:33 CST
    Samsung Ramps Up Plans for Bigger Flat-Screens Samsung Electronics will invest $2.2 billion next year in LCD panels to cash in on the growing market for bigger flat-screen TVs, the Wall Street Journal reports. The world's leading LCD producer aims to expand its eighth-generation line, which makes screens for TVs in the 46- to 52-inch range. More »

Samsung Group Chairman Lee Kun-hee bows during a press conference at the Samsung Group headquarters in Seoul, Tuesday, April 22, 2008. Lee says will step down from his post.   (AP Photo)
Supporters of Samsung Group rally in front of South Korea's special prosecutor's office.   (AP Photo)
Samsung Group Chairman Lee Kun-hee, center, bows during a press conference at the Samsung Group headquarters in Seoul, Tuesday, April 22, 2008. Lee says he will step down from his post.   (AP Photo)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 3)

Tags

corruption • South Korea • Samsung • tax fraud • Lee Kun-hee


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »