SEOUL (Reuters) – Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.
Samsung Electronics Vice Chairman, Jay Y. Lee, speaks during a news conference at a company’s office building in Seoul, South Korea, May 6, 2020. REUTERS/Kim Hong-Ji/Pool
His first public statement in five years came after the Supreme Court in August overturned an appeals court ruling on the bribery case, raising the possibility of a tougher sentence and potential return to jail for the chief of South Korea’s biggest conglomerate.
“We failed, at times, to meet society’s expectations. We even disappointed people and caused concern because we did not strictly uphold the law and ethical standards,” the 51-year-old Lee told a press conference at the company’s Seoul office.
He also apologised for the behaviour of…
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