Samsung Electronics Co. Vice Chairman Kwon Oh-hyun reiterated that the country’s top conglomerate will appeal to the first-trial outcome on the group’s de facto head Jay Y. Lee that could lead to lengthy absence of the top commander from the founding family if confirmed and pleaded for “unwavering” support from employees to combat their “unprecedented” challenge.

On Friday, Lee and four other Samsung Group senior executives were found guilty of bribing former President Park Geun-hye in return for her influence over state agencies to back the group’s plans to help the hereditary succession of the younger Lee through financial assistances to the daughter and a fund in relation to Park’s clandestine friend Choi Soon-sil.

“We must not waver during these uncertain times until the truth is revealed,” Kwon wrote at the electronic bulletin board addressing the employees of Samsung Electronics where Lee is the legitimate head. Lee has been running the group on behalf of his bedridden father Lee Kun-hee since 2014.

Kwon, chairman of the board and head of the company’s digital solutions division, has been leading Korea’s largest conglomerate since Lee’s pretrial detention in February.

“We cannot afford to be in a state of shock and confusion, given the market challenges at home and abroad,” Kwon said.

“We must be one and muster all our forces and wisdom to fight this crisis together,” he said.

The Seoul Central District Court on Friday sentenced Lee to a five-year jail term, mandatory minimum sentence on five charges including handing over a total 43.3 billion won ($38.7 million) bribe in return for “implied” favoritism and exercise of state authority to assist the scion’s hereditary succession. The prosecution had initially demanded a 12-year prison term.

The court also found Samsung’s four top executives including Choi Gee-sung, former vice chairman and head of Samsung Group’s future strategy office, and Chang Choong-ki, former president and deputy head, guilty of going along with bribery and embezzlement.

Lee’s legal representatives on Monday appealed the lower court ruling, and the court battle is expected to continue until next year.

During Lee’s absence, Samsung has been running day-to-day business under council management with individual chief executives responsible for their corporate jurisdictions. As of 3:23 p.m., Samsung Electronics stocks stood at 2,304,000 won, down 2 percent or 47,000 won from the previous session.

By Song Sung-hoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]