Samsung signs Olympic sponsorship to 2028 Los Angeles Games
SEOUL, South Korea (AP) — Samsung has extended its IOC sponsorship deal through the 2028 Los Angeles Olympics, making it 30 years of Summer and Winter Games support.
The IOC says the South Korean technology firm will give limited edition phones to all Olympic and Paralympic athletes.
The value of the deal was not stated. The IOC's 2017 annual report showed $493 million revenue from 13 top-tier sponsors.
Kim, Moon start possibly most challenging Korean summit yet
PYONGYANG, North Korea (AP) — South Korean President Moon Jae-in arrived in North Korea on Tuesday for his third and possibly most challenging summit yet with leader Kim Jong Un in which he hopes to break an impasse in talks with the United States over the North's denuclearization and breathe energy into his own efforts to expand and improve relations between the Koreas.
SEOUL, South Korea (AP) — Samsung Electronics plans to spend a whopping $22 billion over the next three years on artificial intelligence, auto components and other future businesses as the company maps out its strategy under the restored leadership of Vice Chairman Lee Jae-yong after he was freed from prison.
SEOUL, South Korea (AP) — Samsung Electronics Co. reported better-than-expected financial results Thursday as robust demand from global data centers for its mainstay memory chips earned it another record-high quarterly profit.
The company also forecast the brisk earnings streak from its chip sector will continue through the second quarter as expansion of global data centers in the U.S. and China will keep demand for chips strong.
SEOUL, South Korea (AP) — It's the biggest political scandal in recent South Korean history, with more than 50 high-profile figures spending time in prison or facing trial, including ex-President Park Geun-hye, her confidante of 40 years, Choi Soon-sil, and billionaire Samsung scion Lee Jae-yong. The latest chapter in the snowballing scandal saw Park formally convicted and sentenced to 24 years in prison on Friday.
Here's look at the fates of some of the key players:
The Latest: Lotte chairman sentenced to prison for bribery
SEOUL, South Korea (AP) — The Latest on South Korea's political corruption trials (all times local):
The chairman of South Korea's Lotte Group has been sentenced to two and a half years in prison for bribery in a wide-ranging corruption scandal that brought down the country's president.
Samsung heir freed after appeal wins suspended jail term
SEOUL, South Korea (AP) — Samsung heir Lee Jae-yong was freed Monday after a South Korean appeals court gave him a 2 ½-year suspended jail sentence for corruption in connection with a scandal that toppled the country's president.
The Seoul High Court softened the original ruling against Lee, rejecting most of the bribery charges leveled against Lee by prosecutors who sought a 12-year prison term.
Prosecutors demand 12-year prison term for Samsung heir Lee
SEOUL, South Korea (AP) — South Korean prosecutors on Wednesday demanded a 12-year prison term for Samsung's jailed billionaire heir, Lee Jae-yong, who maintained his innocence during an appeal of his conviction on bribery and other charges.
Samsung Electronics names 3 long-time execs as new leaders
SEOUL, South Korea (AP) — Samsung Electronics said Tuesday three executives who have served for the South Korean company for more than two decades will replace three outgoing chief executives.
The appointment announced in the middle of Samsung's run of record-breaking blockbuster earnings shows it has opted for stability rather than a big shakeup at a time when its de facto leader Lee Jae-yong is facing a five-year prison sentence. Lee is fighting the conviction in an appeals court.
Head of Samsung’s booming semiconductor business to resign
SEOUL, South Korea (AP) — The chairman of Samsung Electronics Co.'s board of directors, who has been the public face of the company after its de facto chief was jailed on corruption charges, said Friday he will resign next year to make way for a new leader.
Lawyers, prosecutors face off at Samsung heir’s appeal case
SEOUL, South Korea (AP) — Prosecutors cited a past ruling on a North Korean spy case as one reason why Samsung's billionaire heir deserved a lengthy prison term after being convicted of offering bribes to the country's then-president and one of her associates.
The prosecutors and Lee Jae-yong's lawyers sparred Thursday during a first hearing by the appeals court on the effort by Lee, Samsung's vice chairman and de facto leader, to have his five-year prison sentence overturned.
Lawyers, prosecutors face off at Samsung heir’s appeal case
SEOUL, South Korea (AP) — Prosecutors cited a past ruling on a North Korean spy case as one reason why Samsung's billionaire heir deserves a lengthy prison term for his conviction on bribery charges.
The prosecutors and Samsung lawyers sparred Thursday during a first hearing by the appeals court on the effort by Lee Jae-yong, Samsung's vice chairman and de facto leader, to have his five-year prison sentence overturned.
Q&A: Samsung chief is jailed. Here’s what you need to know.
SEOUL, South Korea (AP) — Samsung heir Lee Jae-yong, the de facto leader of South Korea's most successful business group, was sentenced Friday to five years prison for offering bribes and other crimes.
Lee, 49, was groomed to lead the conglomerate that was founded by his grandfather and became such a dominating force in South Korea that it's mockingly called "Republic of Samsung" by the public.
The Latest: Analyst doubts Samsung scandal will hurt phones
SEOUL, South Korea (AP) — The Latest on the bribery case involving the heir to the Samsung empire (all times local):
4:05 a.m. Saturday
A technology analyst doubts the imprisonment of Samsung's scandalized chief will knock the company off its perch as the world's leading maker of smartphones.
SKorean Court Sentences Samsung Heir to 5 Years
South Korean court sentences Samsung heir to 5 years prison
SEOUL, South Korea (AP) — A South Korean court sentenced the billionaire chief of Samsung to five years in prison for crimes that helped topple the country's president, a stunning downfall that could freeze up decision making at a global electronics powerhouse long run like a monarchy.
SEOUL, South Korea (AP) — South Korean prosecutors have recommended a 12-year jail term for Lee Jae-yong, 49-year-old billionaire heir of the Samsung business empire, urging a court to convict him of bribery and other crimes.
SEOUL, South Korea (AP) — South Korea's former health minister was convicted on Thursday of pressuring the country's pension fund to support a controversial Samsung merger, in one of the first rulings on key players in the corruption scandals that ensnared the country's ousted president and Samsung's heir.
SEOUL, South Korea (AP) — The scion of South Korea's Samsung business empire, Lee Jae-yong, appeared in court Friday to face trial for bribery and other charges.
SEOUL, South Korea (AP) — Shareholders of Samsung Electronics praised the company Friday for big gains in its share price while lamenting its involvement in a massive corruption scandal that brought the arrest of the company's de facto leader.
Kwon Oh-hyun, Samsung's chief executive, told an annual shareholders meeting the scandal was regrettable, but the company did nothing illegal.
SEOUL, South Korea (AP) — South Korean prosecutors said Wednesday they plan to question ousted President Park Geun-hye next week about the corruption scandal that removed her from office, as the government announced that an election will be held on May 9 to pick her successor.
SEOUL, South Korea (AP) — South Korean prosecutors said Wednesday they plan to question ousted President Park Geun-hye next week over a corruption scandal that removed her from office, as the government announced that an election will be held on May 9 to pick her successor.
SEOUL, South Korea (AP) — Formally removed from office by a historic Constitutional Court ruling Friday, Park Geun-hye has lost her presidential immunity from prosecution over a corruption scandal that has sent dozens of high-profile figures to face criminal trials.
Lawyers deny all charges against Samsung heir
SEOUL, South Korea (AP) — Samsung lawyers denied on Thursday all charges brought against Lee Jae-yong, the billionaire heir to Samsung, and questioned the legitimacy of the indictment in a massive corruption scandal that has ensnared the country's president.
SEOUL, South Korea (AP) — Lee Jae-yong, the billionaire Samsung Group heir, will stand trial Thursday in a Seoul court.
He is charged with, among other offenses, offering bribes to President Park Geun-hye and a close friend of hers to strengthen his control over Samsung, the conglomerate founded by his grandfather that is South Korea's largest and most successful business. Four other Samsung executives will also stand trial.
What’s next for Samsung as executives face criminal charges?
SEOUL, South Korea (AP) — Five Samsung executives, including the company's 48-year-old billionaire heir, will stand trial in the coming months on bribery, embezzlement and other charges linked to a massive scandal that toppled South Korea's president.
South Korean prosecutors indict Samsung’s de facto chief
SEOUL, South Korea (AP) — South Korean special prosecutors indicted Samsung's de facto chief Tuesday on bribery, embezzlement and other charges linked to a political scandal that has toppled President Park Geun-hye.
S Korea’s acting leader rejects to extend probe into scandal
SEOUL, South Korea (AP) — A special investigation team is wrapping up its probe into a huge scandal involving impeached President Park Geun-hye after the country's acting leader refused to extend its investigation past a Tuesday deadline.