A South Korean court has sentenced him two and a half years of imprisonment. This new development may lead to negative impact on company's business and future plans globally.

Samsung's Vice Chairman Lee Jae-Yong jailed for 2.5 years in bribery case

A South Korean court <a href="http://www.wionews.com/world/south-korean-prosecutors-seek-12-year-jail-term-for-samsung-heir-lee-27847">has freed Samsung heir Lee Jae-Yong</a>, 49, over bribery allegation after cutting his jail term to a suspending term and ordering his release.

South Korean prosecutors had sought a 12-year jail term for Lee Jae-Yong. A &nbsp;lower court had earlier sentenced him to five years in August as the scandal rocked the country.

Lee Jae-Yong was convicted of five charges including bribery, embezzlement and hiding assets overseas.

He was found guilty of providing $8.19 million in bribes to Choi Soon-sil, a long-time friend and confidante of former President Park Geun-hye.

The South Korean president &nbsp;Park Geun-Hye had resigned after the news became public.

Four former top Samsung executives -- Choi Gee-sung, former head of Samsung`s now-disbanded control tower Future Strategy Office; his former deputy Chang Choong-ki; Park Sang-jin, a former president of Samsung Electronics; and another former President Hwang Sung-soo -&nbsp;were also convicted of similar charges and sentenced to four years in prison or suspended terms.

Lee Jae-Yong was found guilty of providing $8.19 million in bribes to Choi Soon-sil, a long-time friend and confidante of former President Park Geun-hye

A South Korean court has freed Samsung heir Lee Jae-Yong, 49, over bribery allegation after cutting his jail term to a suspending term and ordering his release. South Korean prosecutors had sought a 12-year jail term for Lee Jae-Yong. A lower court had earlier sentenced him to five years in August as the scandal rocked the country. Lee Jae-Yong was convicted of five charges including bribery, embezzlement and hiding assets overseas. He was found guilty of providing $8.19 million in bribes to Choi Soon-sil, a long-time friend and confidante of former President Park Geun-hye. The South Korean president Park Geun-Hye had resigned after the news became public. Four former top Samsung executives -- Choi Gee-sung, former head of Samsung`s now-disbanded control tower Future Strategy Office; his former deputy Chang Choong-ki; Park Sang-jin, a former president of Samsung Electronics; and another former President Hwang Sung-soo - were also convicted of similar charges and sentenced to four years in prison or suspended terms.

South Korea court frees Samsung heir in bribery case

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Samsung's Vice Chairman Lee Jae-Yong jailed for 2.5 years in bribery case

South Korea court frees Samsung heir in bribery case