Samsung Electronics to hold shareholder meeting on March 24

Published : Feb 23, 2017 - 16:36 Updated : Feb 23, 2017 - 16:36

Samsung Electronics Co. is expected to hold a shareholder meeting on March 24, an industry source said Thursday.

Samsung's board of directors will hold a meeting on Friday to decide the date and agenda for the annual shareholder meeting, according to the source.

(Yonhap)

Attention is focused on how Samsung will respond to shareholders over the arrest of Vice Chairman Lee Jae-yong, who has been in jail since last Friday, over his alleged role in a presidential influence-peddling scandal.

The arrest of Lee, heir apparent of Samsung Group, is expected to hit a snag at Samsung's plans to transform the electronics giant into a holding company structure, some analysts said.

Special prosecutors investigating the scandal accused Lee of paying bribes worth about $40 million, among other charges.

The bribes were allegedly paid to President Park Geun-hye and her longtime friend to let Samsung smoothly push ahead with succession plans for Lee, including a controversial merger of two Samsung affiliates in 2015, according to the prosecutors.

The scandal led to the impeachment of Park and Lee has denied any wrongdoing.

Lee has played a key role in the group's important business affairs since his father, Lee Kun-hee, was hospitalized in 2014.

Samsung has yet to make a decision on whether to seek bail or contest Lee's arrest. (Yonhap)