Former South Korean President Park Geun-hye Jailed for 24 years for Corruption
Former South Korean President Park Geun-hye had been sentenced to jail for 24 years for corruption. A South Korean court found her guilty of colluding with her friend Choi Soon-sil for receiving 7 billion won ($6.53 million) each from South Korea’s conglomerate Lotte Group and Samsung. She was also fined 18 billion won ($16.8 million) for charges on bribery, abuse of power and coercion. The bribes received were used to fund non-profit foundations ran by Choi’s family and confidants.
” Former South Korean President Park Geun-hye Jailed for 24 years for Corruption “
The former South Korean President Park Geun-hye was forced out from office in 2017 when the Constitutional Court ordered her out over a corruption scandal between political leaders and the country’s conglomerates. She is South Korea’s first woman President (2013-2017), and has been in jail since March 2017. Her father was former dictator and President of South Korea from 1963 to 1979, until he was assassinated in 1979.
In 1996, former South Korea Presidents Chun Doo-hwan (1979-1988) and Roh Tae-woo (1988-1993) were convicted in 1996 of mutiny, treason and corruption and for their roles in the Gwangju Uprising. Both former Presidents were sentenced to death, amended to jail, and later received presidential pardons.
In recent times, Chairman of the Lotte Group Shin Dong-bin had been sentenced to 2.5 years in jail for corruption. Samsung Group heir Jay Y. Lee was also sentenced to 2.5 years, but was freed after 1 year.
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact firstname.lastname@example.org
- For Media-related enquiries, please contact email@example.com
- For Advertisement, please contact our official ad agency