A son overlooked and a jailed tycoon: Inside Samsung's succession drama

A son overlooked and a jailed tycoon: Inside Samsung's succession drama22 minutes agoShareSaveAdd as preferred on GoogleSarah GreenandSimon Tulett,World Service PodcastsBloomberg via Getty ImagesSamsung chairman Lee Jae-yongWhen power shifts at the top of some of the world's biggest companies, most people don't notice.If products perform, services work and store shelves are full, then who sits in the boardroom doesn't make headlines. But when it comes to Samsung, the family dynasty behind it is so complicated – and the company so crucial to the South Korean economy – that it's front-page news.And so it was in 2017 when the Samsung heir-in-waiting, Lee Jae-yong - who is also known as JY Lee - was jailed for his part in a corruption scandal that also brought down the country's president. The 57-year-old is the grandson of Samsung's founder. Geoffrey Cain, author of the book Samsung Rising, described him as "one of the most powerful people in the history of technology".But in 2015, with his father – Samsung's chairman – in hospital following a heart attack, Lee's succession was not secure.He'd been accused of giving money to foundations run by Choi Soon-sil – a close friend and confidant of South Korea's former President Park Geun-hye – in return for political support for a merger that would strengthen his grip on the conglomerate.Bloomberg via Getty ImagesSamsung is South Korea's biggest chaebol, or family-owned businessHe was also accused of using stock and accounting fraud in that merger – between one Samsung subsidiary, Samsung C&T, and another part of the business empire, Cheil Industries. Prosecutors said he did that so he could take control of the biggest possible chunk of the newly merged entity and, by extension, assume control of Samsung Electronics: the jewel in the empire's crown, and a key source of power and control.Lee Jae-yong has always denied the fraud charges, but was foun...