Former Samsung chief offers impassioned apology to court

By Kwang-tae Kim  |   2008-6-13  |     NEWSPAPER EDITION

FORMER Samsung chief Lee Kun-hee appeared in a Seoul courtroom yesterday for the first session of his trial for alleged tax evasion following his stunning resignation from the helm of South Korea's biggest industrial conglomerate.

Lee, 66, looked calm at the start of the proceedings in the Seoul Central District Court.

"I am truly sorry for causing this trouble," Lee said in the packed courtroom. "I will take full responsibility for it and assume a sincere attitude in court."

It was not clear if he or his attorneys would enter a plea during the session.

Lee led the Samsung Group for two decades, but stepped down in April following his indictment on tax evasion and other charges.

The indictment followed a high-profile inquiry by special prosecutors into the family-controlled conglomerate, of which Samsung Electronics Co is the mainstay corporation.

Lee was indicted on charges of evading 112.8 billion won (US$109 million) in taxes. He was also indicted on charges of breach of trust.

The tax-evasion charge carries a possible sentence of between five years to life in prison, though judges have leeway to decree that no jail time be done.

Other Samsung executives were also indicted.

Prosecutors dismissed the most explosive claim by a former employee °?- that Samsung used affiliates to raise a fund to bribe influential South Koreans - for lack of evidence.

The Samsung conglomerate, founded by Lee's father, consists of dozens of companies and has interests in businesses including electronics, shipbuilding, construction and life insurance.

Lee's decision to step down was unusual in South Korea, where tycoons have often remained in the boardroom even while standing trial.