This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-38660128

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
South Korea: Court refuses Samsung chief's arrest South Korea: Court denies arrest warrant for Samsung chief
(about 5 hours later)
A court in South Korea has refused a request by prosecutors to issue an arrest warrant for Samsung chief Lee Jae-yong, who has been accused of bribery, embezzlement and perjury. A court in South Korea has refused a request by prosecutors to issue an arrest warrant for Samsung chief Lee Jae-yong.
It ruled that there was insufficient reason to arrest him. The judge ruled early on Thursday that there was insufficient reason to arrest Mr Lee over accusations of bribery, embezzlement and perjury.
He was later seen leaving the Seoul detention centre where he had been awaiting the ruling. Mr Lee had been waiting for the ruling overnight since a hearing on Wednesday.
The allegations were part of a corruption scandal which led parliament to impeach President Park Geun-hye.The allegations were part of a corruption scandal which led parliament to impeach President Park Geun-hye.
Mr Lee had been waiting for the ruling for more than 12 hours, since a hearing on Wednesday. Samsung, which has consistently denied any wrongdoing, said in a statement that the "merits of this case can now be determined without the need for detention".
"The merits of this case can now be determined without the need for detention," Samsung said in response to the court order. President Park is accused of abusing her position by colluding with a close friend, Choi Soon-sil, to use their relationship to secure millions of dollars from major companies. The money was allegedly paid into Ms Choi's non-profit foundations in exchange for favourable government treatment.
A spokesman for the court said the long wait for the ruling was because the judge had needed time to consider various factors before making a decision. Prosecutors allege that Samsung paid 43bn won ($36.3m; £29.8m) to secure government support for a controversial merger of two of its affiliates.
South Korea's special prosecutors made a formal request for an arrest warrant earlier this week. Samsung has acknowledged making the payments but insists it did not expect anything in return.
Correspondents say their hopes of stretching criminal proceedings to include the president - who was stripped of her powers last month - may have been knocked off course by the refusal to issue a warrant against Mr Lee. South Korea's special prosecutors had declared Mr Lee a criminal suspect and made a formal request for an arrest warrant earlier this week.
Samsung has consistently denied any wrongdoing. But the judge ruled that after reviewing the evidence it was "difficult to acknowledge the necessity and substantiality of an arrest at the current stage".
The electronics giant is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of Ms Park, in exchange for government favours. Opposition MPs said the decision was "regrettable" and ignored the strength of public sentiment.
It has admitted making payments but insists it did not expect any favours in return. Correspondents say prosecutors' hopes of stretching criminal proceedings to include the president may have been knocked off course by the refusal to issue a warrant against Mr Lee.
Mr Lee, also known as Jay Y Lee, gave evidence at Seoul Central District Court on Wednesday.
He is currently vice-chairman of Samsung Electronics but since his father, Lee Kun-hee, suffered a heart attack in 2014, he is considered de facto boss of the entire Samsung Group conglomerate.
Samsung is South Korea's most high-profile company, and its sales are equal to about a fifth of the country's GDP.Samsung is South Korea's most high-profile company, and its sales are equal to about a fifth of the country's GDP.
Mr Lee is currently vice-chairman of Samsung Electronics but since his father, Lee Kun-hee, suffered a heart attack in 2014, he is considered de facto boss of the entire Samsung Group conglomerate.
Ms Park, who has faced massive public protest in recent months, has been stripped of her presidential powers while the constitutional court considers her impeachment.