Samsung Leader Prison Sentences Suspended

South Korea's Court of Appeal has suspended prison sentences imposed against billionaire heirs of Samsung Electronics giant Lee Jae-yong and ordered his immediate release from prison on Monday.

Seoul District Court initially sentenced Lee the 49-year-old was five years in prison in August for bribery in connection with the scandal that toppled the country's president Park Geun-hye.

The appeals court on Monday canceled several sentences and reduced the remaining prison sentence to two and a half years experiments.

Four other Samsung leaders who were sentenced with Lee also received a reduction in sentence, and two others previously imprisoned also suspended their sentence.

The case stems from Samsung's payout to Park's close friend Choi Soon- Sil, the payment accused by the prosecutor is intended to obtain government treatment which benefits Samsung's leader Lee Jae-yong.

Lee pleaded not guilty to allegations that he used Samsung company funds to bribe Park.

He was also found guilty of other offenses, among other things, embezzlement , money laundering, hiding assets abroad and lying to parliament. [gp]

French NGO sues Samsung over allegations of child hiring

Two French non-profit organizations sued the Samsung company to court in France on Thursday for allegedly employing children and other offenses at its Chinese factory working for the electronics giant.

Accusing the company of practicing commercially misleading, NGO Peuples Solidaires and Sherpa filed a lawsuit in Paris against Samsung's subsidiary in France and the parent of the international company.

Based on the research results of the China Labor Watch group, the two French NGOs accused China of hiring children in a factory making Samsung products, and other workers facing severe health problems.

In a statement, Samsung said the company implemented a "zero tolerance" policy on child labor. [ka/ii]

Samsung Anticipates Record of Operating Income above $ 14 Billion in 4th Quarter

South Korean telecommunications giant Samsung Electronics on Tuesday forecast earnings of more than $ 14 billion in the fourth quarter.

The company expects its business earnings in the period from October to December, the all-time high for quarterly profits and nearly double the $ 9.2 billion announced a year earlier.

But that figure is below analysts' estimates, which average reaching $ 16.1 billion, according to a survey by Bloomberg.

The company's soaring financial performance boosted demand for memory chips and full-year operating profit projected to reach a record $ 50.4 billion profit.

Samsung must overcome the bribery scandal causing the company's de facto head, Lee Jae-Yong jailed as well as a record that damaged his image last year, due to the Samsung Galaxy Note 7's smart phone battery exploding.

Lee, who was found guilty in August for bribery, perjury and other charges relating to payments made by Samsung to secret Park Geun-Hye's secret creditor at by Choi Soon-Sil, appealed a five-year sentence and said he was innocent.

However, his actions had no impact on the demand for his product. Fourth-quarter sales are projected to jump 23.8 percent year-on-year to $ 66 billion, with full sales estimated at $ 239.6 billion.

The company will release its earnings report by the end of this month. [ps/jm]

Prosecutors demand 12-year prison sentence for Samsung Samsung heir

South Korean prosecutors on Wednesday demanded a 12-year jail sentence for Samsung heir apparent Lee Jae-yong, who insists his innocence during an appeal against bribery and other charges against him.

Lee's bribery case is part of a scandal politics that caused Park Park Geun Hye former South Korean President to be ousted in late March after millions of South Koreans for months took to the streets of anti-government demonstrations.

Park and his partner, Choi Soon-sil, were arrested and charged accusations of taking bribes from Samsung in return for helping Lee strengthen its oversight of Samsung for smooth transition of power.

Prosecutors also accused Park and Choi of pressuring Samsung and other large companies to donate a total of 68 million dollars to the launch of two non-profit foundations controlled by Choi. Samsung, founded by Lee's grandfather, is one of the family-run South Korean conglomerates and has dominated the country's economy.

Some praised Samsung for leading South Korea's export-driven economy and rebuilding South Korea's economy from the devastation caused by the Korean war of the year 1950-53, but others say their success may only be due to a corrupt relationship and collusion with government officials.

According to Lee's lawyer Lee was found guilty of embezzlement, hiding assets abroad and giving false oaths, repeating his rejection of (19659002) Lee, whose official title is Samsung Electronics' vice president, took on a bigger role after his father and Samsung leader Lee Kun-hee suffered a heart attack in 2014. Samsung is the largest maker of smartphones, televisions and microchips in this world. [my/jm]