Samsung top pick for retail investors after US election
Retail investors scooped up 2.33 trillion won ($1.67 billion) worth of Samsung Electronics stocks since the U.S. presidential election, the country's main bourse said on Sunday.
South Korean prosecutors on Monday sought 12 years in prison for Samsung Electronics Vice Chairman Lee Jae-yong, an heir apparent of Samsung Group, on bribery charges.
Special prosecutors said in the final court hearing that the case was a typical corruption offense based on cozy ties between politicians and businessmen, which severely damages the constitutional value, reports Xinhua news agency.
The prosecutors had been investigating a corruption scandal that led to the impeachment of former President Park Geun-hye.
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The team of Park Young-soo, who was named independent counsel in November last year for the corruption case, demanded 12 years of imprisonment for Vice Chairman Lee, while asking 7 to 10 years in jail for four other former Samsung executives.
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