Lee Jae-yong, known professionally in the West as Jay Y. Lee, is a South Korean business magnate and the Chairman of Samsung. He is the eldest child and only son of Hong Ra-hee and Lee Kun-hee. Lee is estimated to be worth US$6. 7 billion, making him the fourth wealthiest person in South Korea. Lee was accused of bribery, embezzlement and perjury by the South Korean prosecutor’s office.
About Lee Jae-yong (businessman) in brief
Lee Jae-yong, known professionally in the West as Jay Y. Lee, is a South Korean business magnate and the Chairman of Samsung. He is the eldest child and only son of Hong Ra-hee and Lee Kun-hee. Lee is estimated to be worth US$6. 7 billion, making him the fourth wealthiest person in South Korea. Lee was accused of bribery, embezzlement and perjury by the South Korean prosecutor’s office, and after an investigation he was arrested on February 16, 2017. On August 25, 2017 Lee was sentenced to 5 years in prison after being found guilty of corruption.
On February 5, 2018, the appeals court suspended his sentence and reduced it to 2. 5 years, releasing him. Lee’s arrest was largely prompted by the investigation of the Choi Soon-sil scandal, which could be traced back to the father-to-son shift in ownership of Samsung in 2014. Lee has one son and one daughter with his ex-wife Lim Se-ryung, whom he divorced in 2009.
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