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Samsung heir's jailing augurs well for reforms

China Daily | Updated: 2017-08-28 08:39

Unprecedented sentence seen as beginning of end to grip of chaebols

SEOUL - The conviction and jailing of South Korea's top business tycoon heralds a drive to reform the country's giant conglomerates and loosen their grip on the economy, analysts said.

When Lee Jae-yong, de facto head of the world's biggest smartphone maker Samsung Electronics, was jailed on Friday for bribing South Korea's former president and other offenses, the Seoul court condemned "corrupt ties" between business leaders and politicians.

Samsung heir's jailing augurs well for reforms

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