Business Standard

Samsung shareholders welcome stock price gains, regret scandals

Five Samsung executives have been indicted on bribery and other charges linked to the scandal

Samsung, smartphone

A flag bearing the logo of Samsung Electronics is pictured at its headquarters in Seoul, South Korea

AP | PTI Seoul
Shareholders of Samsung Electronics are praising the company for big gains in its share price while lamenting its involvement in a massive political scandal that brought the arrest of the company's de facto leader.

Kwon Oh-hyun, Samsung's chief executive, told an annual shareholders meeting Friday that the scandal was regrettable, but that the company did nothing illegal.

Five Samsung executives, including its vice chairman and founding family heir apparent Lee Jae-yong, have been indicted on bribery and other charges linked to the scandal, which led to the impeachment of President Park Geun-hye.

Calls to reform Samsung and other big businesses are gaining momentum and some shareholders expressed concern over growing public hostility to South Korea's biggest company.
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 24 2017 | 11:09 AM IST

Explore News