Shares of Samsung are getting cheaper because of the arrest of Lee Jae Yong Corporation

Shares of South Korean electronics manufacturer Samsung Electronics slightly cheaper against the background of the arrest of the head of Lee Jae Yong corporations, according to the auction.

As at 07.52 MSK shares of Samsung Electronics at the Korea Stock Exchange became cheaper by 1.21% against the previous close. In this earlier paper companies fell by 3.2%.

According to Korean media, Seoul court issued a warrant for the arrest of the actual head of Samsung Corporation Lee Jae Yong, who is accused of taking bribes in connection with a major corruption scandal President Park Geun-hye. In anticipation of the judgment in his case the actual CEO will be in the city Yyvan prison, 15 kilometers south of the capital, says the Korean Agency Rёnhap.

The investigation should be completed by February 28, and may be extended for one month only with the consent of the Acting President of South Korea’s Prime Minister Hwang-kyo Ana.

“We will do everything possible to the truth revealed in future court proceedings”, – quotes Reuters Samsung brief statement after the arrest of Lee Jae-Yong.

Samsung Electronics – an international manufacturer of electronics: semiconductor, telecommunication equipment, memory chips, liquid crystal displays, mobile phones and monitors. The company’s headquarters is located in Seoul. Samsung’s net profit grew by 19.3% in 2016 to 19.5 billion dollars. Revenue for the period increased by 0.6% to 172.9 billion dollars.

Original: RIA Novosti

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