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Samsung-linked scandal takes down South Korea’s president
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Samsung-linked scandal takes down South Korea’s president

Richard Lawler, @Rjcc

March 09, 2017

A protester holds a placard featuring pictures of Park Geun-hye, South Korea’s president, from left, Jay Y. Lee, co-vice chairman of Samsung Electronics Co., Chung Mong Koo, chairman of Hyundai Motor Co., Chey Tae-won, chairman of SK Holdings Co., Koo Bon-moo, chairman and chief executive officer of LG Corp., and Shin Dong-bin, chairman of Lotte Group in Seoul, South Korea, Jan. 18, 2017 Bloomberg via Getty Images

The same scandal behind the arrest and indictment of Samsung exec and heir Lee Jae-yong has resulted in the removal of South Korean president Park Geun-Hye. Parliament impeached Park on December 9th over charges including bribery and corruption for allegedly trying to squeeze money out of large companies in return for favors. Today’s unanimous court decision by eight judges ends the 92-day leadership crisis (the country’s prime minister had assumed her duties) and triggers the process for a new election to take place within 60 days.

According to Yonhap News, former opposition leader Moon Jae-in is leading in the polls. As for Park, her impeachment comes due to accusations that adviser Choi Soon-sil used her connection with the president to force companies to donate millions to foundations she controlled. An investigation into the charges continues, and Park’s impeachment means she loses protection from prosecution.


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