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Why Samsung s Billionaire Scion Is Heading Back to Jail

Samsung Group’s billionaire scion, Jay Y. Lee, has been sentenced to two years and six months in prison over bribery charges, concluding a trial that brought down a South Korean president and inflamed public outrage over the cozy relationship between government and business. The case and another being tried separately center on whether Lee and Samsung used illegal means to help him take control of the company founded by his grandfather. The Jan. 18 ruling creates a vacuum atop the world’s

Why Jail Threat Hangs Over Samsung Billionaire Again

Samsung Group’s billionaire scion, Jay Y. Lee, has been sentenced to two years and six months in prison over bribery charges, concluding a trial that brought down a South Korean president and inflamed public outrage over the cozy relationship between government and business. The case and another being tried separately center on whether Lee and Samsung used illegal means to help him take control of the company founded by his grandfather. The Jan. 18 ruling creates a vacuum atop the world’s

South Korea Allocates over $450 Billion For Biotech in 2021

South Korea Allocates over $450 Billion For Biotech in 2021 Published December 22nd, 2020 - 12:00 GMT The ministry said it will spend 31.7 billion won on COVID-19 treatment and vaccine development next year and 10.2 billion won to acquire technology to respond to new infectious diseases, Yonhap New Agency reported. (Shutterstock) Highlights The Ministry of Science and ICT said the figure represents a 24.9 percent hike from 2020. South Korea said Tuesday it will invest 520 billion won ($470 billion) in biotechnology next year as part of efforts to develop treatment and vaccines for COVID-19.   The Ministry of Science and ICT said the figure represents a 24.9 percent hike from 2020.

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