INDICES
  • Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%
-

EghtesadOnline: Samsung Electronics Co. heir Jay Y. Lee has refused to testify at the bribery trial of former President Park Geun-hye, arguing that doing so risked affecting his own corruption hearing.

According to Bloomberg, lawyers for the de-facto chief of the country’s largest corporation invoked an article in the criminal procedure act that allows individuals to refrain from testimony that may lead to criminal prosecution. Lee is undergoing a bribery trial of his own in connection with Park and his appearance on Monday would have marked their first encounter since an influence-peddling scandal that led to their arrests.

The Samsung heir has been the highest-profile business figure indicted in a scandal that’s spurred outrage over cosy ties between government and corporations. Both Lee and Park have denied bribery charges.  A subsequent investigation led to Park’s ouster from office in March, and the election of opposition politician Moon Jae-in as president in May.

Park has been accused of corruption and abuse of power, setting the stage for a trial that could result in a lengthy prison term. The ousted former head of state failed to appear at her own trial at Seoul Central District Court Monday because she had difficulty walking after injuring a toe, her lawyer said in court.

Lee has taken Samsung’s reins since his father suffered a heart attack and was hospitalized in 2014. Prosecutors allege he paid bribes to secure the support of the government-run National Pension Service for a 2015 merger between Cheil Industries Inc. and Samsung C&T Corp., which was narrowly approved over the opposition of investor Paul Elliott Singer. Samsung has said the merger was meant to boost the competitiveness of the Samsung affiliates and had nothing to do with succession.

In Park’s absence, Samsung executives and Choi Soon-sil -- a friend of the former president’s and a central figure in her case -- will be questioned Monday.

Samsung Park Geun-hye Jay Y. Lee bribery trial