SEOUL: A South Korean appeals court on Monday suspended a jail sentence handed down to Samsung Group heir Jay Y. Lee, setting him free after a year’s detention amid a corruption scandal that brought down the former president.
Seoul High Court jailed Lee for two and a half years, reducing the original term by half, and suspended the sentence for charges including bribery and embezzlement, meaning he does not have to serve time.
Lee, 49, heir to one of the world’s biggest corporate empires, had been detained since last February.
President Park Geun-hye was dismissed in March after being impeached in a case that brought scrutiny to the nature of the ties between South Korea’s chaebols — big family-owned corporate groups — and its political leaders.
Park, who denies wrongdoing, is standing trial accused of bribery, abuse of power and coercion.
A lower court in August convicted Lee for bribing Park for help in strengthening his control of Samsung Electronics, the crown jewel of the country’s largest conglomerate and one of the world’s biggest technology companies, as well as embezzlement and other charges.
The court said Samsung’s financial support for entities backed by a friend of Park’s, Choi Soon-sil, constituted bribery, including 7.2 billion won ($6.4 million) to sponsor the equestrian career of Choi’s daughter.
Presiding senior judge Cheong Hyung-sik on Monday called the nature of Lee’s involvement in Samsung’s monetary support for Choi a “passive compliance to political power.”
Prosecutors and Samsung did not have an immediate comment. Lee, whose face was noticeably worn, did not show any emotion when the ruling was announced.
Prosecutors had sought a 12-year jail term for Lee. The ruling is expected to be appealed again to the Supreme Court, legal experts said.
With the end of his year-long detention, which according to local media he adjusted to with physical workouts and reading books, Lee could continue with his existing roles including director of Samsung Electronics.
However he has been found guilty of some lesser charges and is prohibited from traveling outside South Korea without a judge’s approval, according to law firm Cho & Partners.
The lower court ruling in August had said while Lee never asked for President Park’s help directly, the fact that a 2015 merger of two Samsung affiliates did help cement Lee’s control over Samsung Electronics implied he was asking for the president’s help to strengthen his control of the firm.
His lawyers had strongly challenged this logic and said that the merger was done for business reasons.
Some criminal lawyers had expected Lee to be found innocent of most of the charges, as much of the evidence at the trial has been circumstantial.
But although he was set free from detention by the appeals court, the stigma may stick, lawyers say.
“Public opinion will get riled up and people will keep thinking there was some quid pro quo between Samsung’s Lee and the president,” Lee Jung-jae, a lawyer at law firm Jung said.
Samsung scion walks free as South Korean appeals court suspends jail term
Samsung scion walks free as South Korean appeals court suspends jail term
Saudi POS spending jumps 28% in final week of Jan: SAMA
RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors.
POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity.
Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million.
Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million.
Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million.
Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week.
The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week.
In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
