Japanese electronic manufacturer, Samsung Electronics (005930.KS) shares fell for a fourth consecutive session on Wednesday, February after South Korean special prosecutors said they would seek a warrant to arrest Samsung Group chief Jay Y. Lee as part of a corruption probe.
Samsung Electronics shares declined by as much as 1.3 percent to 1.854 million won ($1,624.32) each in early trade on Wednesday, their lowest level since Jan. 23.
Lee Jae-Yong (C), Vice chairman of Samsung Electronics, will be questioned as a suspect in a corruption scandal that led to the impeachment of South Korea’s President Park Geun-Hye, at the office of the independent counsel in Seoul on February 13, 2017.
Samsung Group chief Jay Y. Lee was questioned by South Korea’s special prosecutor for more than 15 hours as part of an investigation into a graft scandal that threatens to topple President Park Geun-hye.
The 48-year-old executive, the third-generation leader of the country’s top conglomerate, made no comment as he was shown on live television leaving the prosecutor’s office in southern Seoul in a black car early on Tuesday.
Lee, who has denied allegations of bribery through Samsung Group spokespeople, had arrived at the office on Monday morning.
South Korea’s special prosecutor has focused on Samsung Group’s relationship with Park, accusing Lee in his capacity as Samsung chief of pledging 43 billion won to a business and organisations backed by Park’s friend, Choi Soon-sil, in exchange for support of a 2015 merger of two Samsung companies.