Lee Jae-yong, the vice chairman of Samsung Group, was arrested and jailed Friday in Seoul on bribery charges.
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In the midst of Korea's influence-peddling scandal involving President Park, her close associates, and chaebols (family run conglomerates such as Samsung and Hyundai), the country enacted a new anti-corruption law criminalizing graft and solicitation without the need to prove the bribe payer expected anything in return.
The Korean National Assembly agreed this month to impeach President Park Geun-hye based on the influence-peddling scandal of her confidante, Soon-sil Choi.
Representatives of over 30 firms were gathered in a small Beijing hotel last month to receive a stern message from the National Development and Reform Commission (NDRC) division chief, Xu Xinyu.
Taiwan-based contract manufacturer Foxconn Technology Group has disclosed it is investigating allegations of bribery within its supply chain.