The South Korean Prosecutors have demanded a five-year jail term for Samsung Electronics Chairman, Jay Y. Lee.
The request was made following the existing controversial merger issue that the company experienced in 2015.
The illegal merger which was valued at $8 billion was said to have occurred between Samsung’s subsidiaries; Cheil Industries and Samsung C & T with the accusation that Chairman Lee and other executives bribed the former South Korean President, Park Geun-hye for its acquisition.
The heated issue according to report, was said to have been linked to the scandal that brought down the former President over a case of massive corruption.
Recall that Chairman Lee received a presidential pardon in August 2021 after serving 18 months in jail, just over half of his original sentence that began in 2017 which made him the existing Chairman of Samsung Electronics.
Haven convicted of bribery, tax evasion and embezzlement, Lee together with 1,692 were afterwards released due to global economic crisis to engine the growth of the nation through investment in technology and job creation.
However, Lee faces growing questions over his ability to lead the company which he inherited from his father, Chairman Lee Kun-hee, following his incapacitation in 2014, as the company experiences low profits and falling stock prices.
The final ruling of the case is expected to come up in few months as the court is scheduled to deliver its final verdict between January and February 2025.
Similarly, report has it that the company’s Samsung Galaxy A16 would receive Android 15 update as it is already being tested.
The update includes six major OS upgrades that are said to surpass Apple’s iPhones and other Android smartphones as the cost of purchase is relatively low.
Meanwhile, the official update is said to be withheld until 2025 before its disclosure to the general public.
Samsung’s flagship devices will likely start with Galaxy S24 series with update possibly in February while Galaxy S25 will likely launch with Android 15 and One UI 7.0 pre-installed.
