Corrupt relationships between tech giants 2021

 In less than 5 years, Samsung's heir was sentenced to a second sentence, casting a shadow over decision-making at the South Korean tech giant.

Corrupt relationships between tech giants 2021

Corrupt relationships between tech giants 

The Seoul Supreme Court sentenced Samsung Group Vice-Chairman of the Board of Directors Lee Jae-young, "the heir to Samsung," to two and a half years' imprisonment after being convicted of embezzlement and bribery.

Lee's prison sentence means that the company loses its main decision maker at a time of strategic upheaval in some of Samsung's core industries.

A mysterious future for Samsung after the prison of the heir

Apple - style... Samsung phone used as car key

China and the United States entered into a cold war because of companies, such as: Huawei and SMIC, there is a global shortage of semiconductors, and automakers and technology companies are coming together to shape the future of the automotive industry.

The scandal is also the latest development in a long series of legal problems faced by the heir to Samsung.

read also: Artificial intelligence and its amazing 2021 applications

Lee was convicted of bribery and other corruption charges in 2017 as part of a massive scandal that brought down the government of former South Korean President Park Geun-hye.

The heir to Samsung went free less than a year later when the Court of Appeal overturned some of the charges and suspended his sentence, but the country's Supreme Court later ordered a retrial, leading to the new ruling.

Samsung - South Korea's largest family conglomerate - works in everything from electronics and parks to life insurance.

It has been the world's largest seller of smartphones for several years, and is a major supplier of memory chips and screens to competitors.

Lee has been the de facto leader of the company since his father became comatose in 2014, and died last year, representing the role of Samsung's heir in directing the new projects.

The Vice President also had a hand in large transactions at the company, such as the $8 billion acquisition of Harman International, an American company that manufactures automotive information, entertainment, safety and security systems.

Other Risks

These decisions involve tens of billions of dollars, and in the absence of a Samsung heir, the company may make conservative decisions in making risky investments.

Lee's appearance in prison is also a problem for Samsung, as you can imagine the impact of Apple's global business if the company's CEO, Tim Cook, is jailed for bribing the U.S. government for millions of dollars, according to a report published by aitnews.

Invested companies have become more socially conscious in recent years, and may wish to move away from a scandal-contaminated company.

The ruling may have some positive effects, according to Chung Sun - seop, editor - in - chief at Chaebol.com, a site specializing in analyzing family - run clusters in South Korea.

Analysts have long said: The circulation of privileges, bribes and political influence among politicians and businessmen is practically widespread in the country.

Lee's father, the former president of Samsung, was convicted of bribery and tax evasion, but avoided imprisonment and received a presidential pardon.

The other leaders of the family conglomerates were also convicted of criminal offences, released after light sentences and allowed to return to their business.

Sending me back to prison may indicate that the state is willing to deal with the problem more seriously. This is the beginning of breaking the corrupt relationship between government and corporations, which is good for the long-term Korean economy.