Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
AP
Samsung Electronics vice chairman Jay Y. Lee was found guilty of bribery, embezzlement and perjury by a South Korean Court, slapping him with a five year prison sentence, according to local news reports. Lee is expected to appeal the verdict.
South Korea's special prosecutor's office accused Lee of bribing a friend of former President Park Geun-hye in exchange for government favors, allegedly including approval of a 2015 merger between Samsung C&T and Cheil Industries. That deal consolidated the Lee family's power over Samsung Electronics, according to CNBC.
Why it matters: The jail sentence won't have much impact on the global day-to-day operations of Samsung because Lee is not the face of the flagship brand, but it creates some uncertainty about long-term management. The case renews criticism about the close relationship between South Korea's large, family-run conglomerates (called chaebols) and the country's government.