Chairman Of Samsung Group Resigns On Tax Evasion Charges
Category: ManufacturersPosted: April 22, 2008 12:01PM
Author: jammin
Lee Kun-hee won't be a familiar name (or face) to many, but up until very recently he was the chairman of the South Korean giant Samsung Group. Samsung's corporate head quarters were raided earlier this year on suspision that the company operated a large slush fund which was used for innapropriate means (such as bribing government officials). Lee Kun-hee announced his resignation from the position today, after being indicted for avoiding around $113 million in taxes. Other Samsung executives have also followed suit, including Lee Kun-hee's son Lee Jae-yong. What this will mean for the Samsung Group in general is yet to be seen, but I'm sure everyone knows that such scandals can't be good for business.
