Samsung tightens donation rules after scandal

President Jay Y Lee is accused of pledging 43 bn won in bribes to a company

Tech giant Samsung Electronics is tightening board oversight on donations while two senior Samsung Group executives reportedly offered to resign, as the conglomerate struggles with the fallout from a graft scandal that led to its leader’s arrest.

Samsung Electronics said on Friday its board of directors will now vote on any financial support to third parties worth 1 billion won ($886,210.56) or more and disclose any such payments publicly. Previously, only payments of 680 billion won or more were subject to board approval.

“This move improves transparency in financial aid and appropriation of social corporate social responsibility funds, and strengthens compliance management,”