[Asia Economy Reporter Hyunwoo Lee] On the 18th, foreign media quickly reported that Samsung Electronics Vice Chairman Lee Jae-yong was sentenced to 2 years and 6 months in prison and detained in court in the retrial of the National Pension Service scandal, expressing concern that the leadership position of the world's largest IT company has become vacant amid the uncertainties caused by the COVID-19 pandemic.
On the same day, Bloomberg News broke the news of Lee's detention in court, stating, "A dramatic conclusion has been reached in the bribery trial that has lasted for years and sparked intense anger over collusion between politics and business," and added, "The top decision-maker of the world's largest electronics company has been imprisoned amid growing global uncertainty and rising competitors."
It continued, "In a situation where uncertainties arising from intensified US-China relations and competition are exacerbated by the COVID-19 pandemic, the leadership position of the world's largest memory chip, smartphone, and consumer electronics company has become vacant," and forecasted, "Lee's absence will halt or complicate Samsung's long-term strategic moves and large-scale investments."
BBC also explained that this ruling would affect Lee's role within Samsung Electronics, and Germany's public broadcaster Deutsche Welle (DW) reported that it could hinder the future succession process of the Samsung Group.
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