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Business

Ongoing bribery scandal reminds South Koreans of culture of collusion

Samsung scion is the latest public figure to fall

SEOUL As the Samsung group's de facto chief stares down five years in prison for corruption, the fusion of politics and business that has long powered South Korea's economy faces a reckoning of its own as public sentiment turns firmly against the nation's largest businesses.

Lee Jae-yong, vice chairman of Samsung Electronics, is the latest to fall in a scandal that led to the removal of South Korean President Park Geun-hye several months ago. The heir to the massive family-run conglomerate, or chaebol, was convicted on Aug. 25 of instructing four former Samsung executives to direct company funds to nonprofit foundations controlled by Choi Soon-sil, a confidante of Park, at the then-president's behest.

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