Samsung chief returns after tax-evasion pardon

The former ceo of Samsung Electronics returned to the company. He was convicted of tax evasion, but was later given a presidential pardon.

Lee Kun-hee headed Samsung Electronics for almost 2 decades before he was accused for tax evasion. Analysts said Mr Lee’s return was good news for the electronics giant. Lee’s return removes what has been an uncertainty for Samsung Group.
Mr Lee, who is 68 year old, his father founded Samsung. He is seen as one of the South Korea’s most prominent businessman. Mr Lee is also one of the country’s richest men.

Lee Kun-hee received a presidential pardon last year, so that he could return to the International Olympics Committee and help South Korea’s appeal to host the 2018 Winter Olympics.

A founding family member in the ownership management offers a long-term vision and helps Samsung to find its long term goals and plans. However there were some discussion about re-appointing a convicted tax evader.

It is good for Samsung that they have found a good leader again. The uncertainty for the Samsung group is now cleared. A good leader in a company as big as Samsung is important for the image of the company. The fact that he is convicted for tax evasion is not so good for the image, but he received a presidential pardon so that problem is solved.

Thibaut Delsoir
Source: http://news.bbc.co.uk/2/hi/business/8584397.stm