The arrest of Samsung Electronics’ vice chairman Lee Jae-yong on Friday in South Korea may not have a direct impact on the company’s high-profile electronics business, including its smartphones unit, according to analysts.
Samsung announced in 2012 the promotion of the executive, also known as Jay. Y. Lee, to his current formal position at Samsung Electronics. But he is largely seen as the de-facto leader of the Samsung Group, running the business on behalf of his ailing father, Samsung chairman Lee Kun-Hee.
He was arrested on charges of bribery as part of an alleged corruption scandal that led to the impeachment of South Korea President Park Geun-hye.