Skip to content
Subscriber Only

South Korea's Chaebol Troubles

Video player cover image

South Korea’s Family-Run Conglomerates Are Under Pressure

Updated on

Samsung Group's de facto head Jay Y. Lee was arrested early Friday on allegations including bribery and embezzlement, dealing a stunning blow to the biggest of the family-run conglomerates that dominate business in South Korea.

Lee, heir apparent to the sprawling empire that includes the world's largest smartphone maker, is accused of making payments to a close friend of President Park Geun-hye in exchange for government support that aided in the chaebol's succession plan.