Samsung just aren’t having any luck of late, washing machines going on fire in Australia, rattling themselves apart in the US, phones exploding and now their under investigation for corruption, big time.
The brand sure is under fire and taking some big hits leading to questions openly being asked on how Samsung can continue in its current format with some calling for the company to be broken up.
The latest news is that the South Korean prosecutor is seeking the arrest of Lee Jae-Young who is the vice president of the Samsung company and the heir to the throne as it were as it is alleged he has been involved in corruption that has led to the impeachment of the South Korean (SK) president.
This is serious, serious stuff!
Prosecutors allege that Samsung has donated tens of millions of dollars into no-profit organisations through a friend of the SK president in order to get support for a merger of two Samsung affiliates.
Lee Jae-Young was hauled in by authorities and grilled for twenty two hours according to reports last week.
But it’s not just Samsung in the firing line, Hyundai and LG are also being looked into for the same thing. Maybe this is an accepted practice in SK, who knows but, seems that someone wants to put a stop to it.
An arrest warrant has been requested and the court in Seoul has to now decide whether or not to grant is but, with the current unrest in SK over this and the president’s alleged improprieties it looks increasingly as if it will be and we will see the effective CEO of one of the largest companies on the planet up on criminal charges for corrupt activities.
The big question is, what will happen to Samsung as a company?
