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The Samsung Digital City complex, in the South Korean city of Suwon, is home to the headquarters of Samsung Electronics. (Photo by Koji Uema)
Business

Samsung stock drops on chief's arrest over corruption

Share price losing upward momentum from strong earnings reports

TSUBASA SURUGA, Nikkei staff writer | South Korea

TOKYO -- Samsung Electronics' stock price on Friday morning started 1.20% lower at 1.878 million won from the previous closing day -- the first drop in three days -- as investors worry about the company's prospects after Vice Chairman Lee Jae-yong was arrested the same day over his alleged role in a corruption scandal. 

After a lower opening, the stock briefly reached 1.902 million won, just above the previous day's 1.901 million won, as investors were hopeful that all the bad news had come out. But it has since been trending down and briefly dropped 1.8% from the previous trading day.  

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