Samsung ‘Prince’ jailed for two and a half years

The South Korean High Court has sentenced Jay Y Lee, widely known as the Prince of the Samsung Empire, to two and a half years in prison. Jay Y Lee has been in control of Samsung since 2014 and is considered the future head of the company. The most important part of the Samsung empire is Samsung Electronics, headed by Jay Y Lee. The company’s income is equal to 12 percent of the country’s GDP. The latest ruling raises concerns about Lee’s control over Samsung and the future of Samsung Electronics, according to a BBC report. The merger of Samsung’s two subsidiaries in 2015 sparked controversy. Lee has already been jailed for plotting to increase his control over the Samsung Group.

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