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Former Samsung chief convicted but won't do time

Former Samsung Chairman Lee Kun-hee saw the suspension of his prison sentence in a tax-evasion conviction on Wednesday, a move that confirmed South Koreans' view that tycoons are immune from jail.

By Jae-Soon Chang

17 Jul 2008

The Seoul Central District Court convicted Lee for failing to pay tens of millions of dollars in taxes, and imposed a hefty fine of 110 billion won (US$109 million) against the man who led the country's most powerful business conglomerate before he resigned in April over the allegations that included a range of fiscal crimes.

Still, the court said putting the 66-year-old Lee behind bars would be too harsh because he did not actively seek to evade the taxes.

Read the full article here.