SEOUL: Samsung Electronics’ ailing chairman, Lee Kun-hee, has been named by South Korean police as a suspect in an 8.2 billion won ($7.5 million) tax evasion case that involved the use of bank accounts held by employees.
A series of scandals has dogged the family of Samsung, the country’s biggest business empire.
The chairman’s son, Jay Y. Lee, heir to the Samsung Group, was released from detention earlier this week after an appeals court halved his sentence for bribery and corruption to two-and-half years and suspended it for four years.
Following a heart attack in 2014, the elder Lee, 76, has remained hospitalized in Seoul’s Samsung Medical Center and is difficult to commuicate with having shown little sign of recovery. Until his imprisonment Jay Y. Lee had been regarded as the de facto head of the group.
Police said the elder Lee could not be questioned due to his physical condition and Samsung declined comment.
“Samsung chairman Lee Kun-hee and a Samsung executive managed funds in 260 bank accounts under names of 72 executives, suspected of evading taxes worth 8.2 billion won,” the Korean National Police Agency said announcing plans to send the case to prosecutors.
Police added that the accounts, holding about 400 billion won, were found in the course of their probe into alleged improper payments for the renovation of Lee’s family residence.
The investigation into tax evasion harks back to the late payment of 130 billion won in tax in 2011, though only 8.2 billion of that sum falls within the statute of limitations, according to police.
The corruption case that led to the younger Lee’s arrest last year and brought down the former president Park Geun-hye prompted Samsung to vow to improve transparency in corporate governance and grant heads of the group’s affiliates more autonomy from the Lee family.
The group dismantled its corporate strategy office in late 2017.
The new liberal government led by President Moon Jae-in elected after the corruption scandal promised to put family-run conglomerates under stronger scrutiny and end the practice of pardoning corporate tycoons convicted of white-collar crimes.
Jay Y. Lee has not been seen back at the office since his release on Feb. 5, but members of the Korean business community expect him to take up the reins once again, and invest more in the business to create jobs that might help soothe public anger.
Returning home from prison, the younger Lee apologized for not showing his best side and said he would do what he could, but did not give specifics on his business plans.
While he spent a year behind bars, Samsung Electronics, the world’s top semiconductors maker, earned record profit as it benefited from a memory chip “super cycle.”
It is not the first time the elder Lee has been investigated for tax evasion. He was convicted in 2009 and later pardoned for the same offense after being embroiled in a scandal that also involved the use of accounts held by trusted employees.
Police say they have since identified more such accounts.
Shares in Samsung Electronics rose 1.1 percent compared with a 0.5 percent rise in the wider market. Blue chip tech stocks bounced after recent falls as investors saw current valuations as attractive, analysts said.
Samsung’s beleaguered chairman named as suspect in $7.5m tax evasion case
Samsung’s beleaguered chairman named as suspect in $7.5m tax evasion case
What is the International Criminal Court and how can a member country like Hungary leave?
- Liz Evenson, international justice director at Human Rights Watch: We expect other ICC members and particularly EU member states who are united in their commitment to the court to press Hungary hard on meeting its clear, legal obligations on arrest”
THE HAGUE, Netherlands: After giving a red carpet welcome this week to Israeli Prime Minister Benjamin Netanyahu, who is wanted by the International Criminal Court for alleged crimes against humanity in Gaza, Hungary announced it would quit the court.
Should Hungary follow through with its withdrawal from the world’s only permanent global court for war crimes and genocide, it will become only the third country in the institution’s history of more than 20 years to do so. The process will take more than a year.
Hungarian Prime Minister Viktor Orbán, who gave the Israeli leader a welcome with full military honors on Thursday in defiance of the ICC arrest warrant, signed the Rome Statute, which established the court, during his first term in office.
What is the International Criminal Court?
The ICC was established in The Hague in 2002 as the court of last resort to prosecute individuals responsible for the world’s most heinous atrocities: war crimes, crimes against humanity, genocide and the crime of aggression. It takes on cases when nations are unable or unwilling to prosecute crimes on their territory.
Hungary signed the Rome Statute in 1999 and ratified the treaty on Nov. 30, 2001.
The court’s newest member, Ukraine, formally joined in January, bringing the number of member states to 125. The United States, Russia, China and Israel are among nations that are not members.
Judges at the court have issued 60 arrest warrants and convicted 11 people. Last month, the court arrested former Philippine President Rodrigo Duterte on murder charges linked to the deadly “war on drugs” that he oversaw while in office.
What is the process for leaving the court?
The Rome Statute lays out the steps a member state needs to take if they want to withdraw from the court. The state party must inform the Secretary-General of the United Nations and the withdrawal takes effect one year after the receipt of the notification.
Announcing it will leave, however, doesn’t free Hungary from its duties under the treaty.
“There is a provision which says that your obligation to cooperate continues for the cases that were ongoing when you were still a party,” Göran Sluiter, professor of international criminal law at the University of Amsterdam, told The Associated Press. “So they still have an ongoing obligation to arrest Netanyahu,” he said.
Zsolt Semjén, Hungary’s deputy prime minister, submitted a bill to parliament to approve the withdrawal, which is expected to pass.
Just two other countries have left the court. The East African nation of Burundi left in 2017 and, in 2019, then-President Duterte withdrew the Philippines after judges allowed the investigation into his drug crackdown that killed thousands to continue.
If Hungary leaves, it will become the only country in the European Union that is not a member of the court.
Why is Netanyahu wanted by the court?
A three-judge panel issued arrest warrants in November for Netanyahu, his former Defense Minister Yoav Gallant and Hamas’ military chief, Mohammed Deif, accusing them of crimes against humanity in connection with the 13-month war in Gaza.
The warrants said there was reason to believe Netanyahu and Gallant have used “starvation as a method of warfare” by restricting humanitarian aid and intentionally targeted civilians in Israel’s campaign against Hamas in Gaza, charges Israeli officials deny.
The warrant marked the first time a sitting leader of a major Western ally has been accused of war crimes and crimes against humanity by the global court of justice and has sparked major pushback from supporters of Israel, including the US
The ICC criticized Hungary’s decision to defy its warrant for Netanyahu, with the court’s spokesperson, Fadi El Abdallah, saying on Thursday that the court “recalls that Hungary remains under a duty to cooperate with the ICC.”
Human rights groups also have condemned the move.
“Hungary still has the opportunity to arrest Netanyahu — as unlikely as that seems, there’s still time. We expect other ICC members and particularly EU member states who are united in their commitment to the court to press Hungary hard on meeting its clear, legal obligations on arrest,” Liz Evenson, international justice director at Human Rights Watch, told the AP.
Last year, Mongolia refused to arrest Russian President Vladimir Putin during a state visit. Judges ruled Mongolia had failed to comply with its obligations and referred the matter to the court’s oversight board, the Assembly of States Parties.
England, Germany and Spain on mark in women’s Nations League
PARIS: England and Germany cruised and World Cup champions Spain downed Portugal on matchday three in the women’s Nations League on Friday.
First-half headers from Lucy Bronze and Millie Bright set England on the road to beating Belgium in Bristol, with maiden Lionesses goals from Aggie Beever-Jones and Keira Walsh and substitute Jess Park also contributing to the lop-sided 5-0 win.
The two sides meet again next Tuesday in Leuven with England manager Sarina Wiegman firmly focused on her side’s European Championship title defense and an event further ahead.
“Now, of course, every game is competitive, but you have to win because we want to get in the best possible position for the World Cup draw too,” Wiegman said.
“I would never be complacent. We’ll bring the team on the pitch that we think at that moment is the best team to play against Belgium.”
World champions Spain downed Portugal 4-2 to go second by one point to England in group A3.
Germany were also in trigger happy mood, routing Scotland at Dundee’s Tannadice Park 4-0.
Scotland conceded their first goal with less than a minute on the clock after a terrific strike from Elisa Senss.
The hosts responded well and were in the match until Scotland’s Germany-born defender Sophie Howard’s own goal.
The top seeds and third-ranked side in the world completed Scotland’s miserable night with goals from Cora Zicai and Lea Schuller.
Scotland have plenty of food for thought before round two in Wolfsburg on Tuesday.
Germany are top of their group on goal difference from the Netherlands, 3-1 winners over Austria with Sherida Spitse becoming the joint most capped European player.
France, beaten finalists to Spain in last year’s Nations League, beat women’s Euro 2025 hosts Switzerland 2-0 in St. Gallen.
Sandy Baltimore opened the scoring with Selma Bacha’s powerful long strike lifting France five points clear at the top of their group from Norway, who they face in Oslo on Tuesday.
The four League A group winners qualify for the finals in the autumn.
The group standings also determine the teams contesting promotion and relegation matches to establish their starting league position in the European Qualifiers for the 2027 Women’s World Cup, running through 2026.
How Saudi companies are redefining corporate responsibility with ESG leadership
- ESG integration is transforming industries as Saudi firms leverage AI, blockchain, and biotech to drive impact
- Private companies like SAWACO and WAYAKIT are proving that profitability and sustainability can thrive together
JEDDAH: Saudi companies across multiple industries are increasingly integrating environmental, social, and governance principles into their corporate strategies, driving sustainable growth while balancing environmental stewardship, community impact, and corporate responsibility.
This strategic shift aligns with Saudi Arabia’s Vision 2030 roadmap — a transformative economic diversification plan — and its ambitious 2060 net zero emissions target, reinforcing the nation’s position as a sustainability leader.
SAWACO Water Group exemplifies this transformation, embedding sustainability into its core operations.
“Sustainability is not just a goal; it’s a responsibility,” CEO Nizar Kammourie told Arab News, emphasizing the company’s alignment with Vision 2030’s focus on environmental and social progress.
He added: “At SAWACO, we integrate ESG into every aspect of our operations, from optimizing resource efficiency to ensuring transparent governance and community engagement.”
Underpinning this commitment, SAWACO has implemented advanced operations intelligence software to enhance energy efficiency in desalination plants.
“We are leveraging cutting-edge technology to reduce power and chemical consumption while extending the life cycle of our assets,” said Kammourie.
The company also tracks carbon emissions through its Remedium Platform, which supports data-driven reduction targets.
“Accurate carbon accounting allows us to set tangible, data-driven targets for reducing our environmental footprint, ensuring our growth remains responsible and sustainable,” he added.
To address resource optimization, SAWACO has partnered with a US-based firm to pioneer brine minimization technology.
“Water is one of our most precious resources, and we are committed to maximizing its use,” said Kammourie.
“Our innovative brine minimization system enhances freshwater recovery from seawater while significantly reducing brine discharge, preserving marine ecosystems and supporting coastal livelihoods.”
Governance reforms further solidify SAWACO’s ESG leadership. A dedicated committee oversees alignment with international sustainability standards such as the UN Sustainable Development Goals.
“Ethical governance is the foundation of a sustainable business,” said Kammourie “By integrating real-time data analytics, third-party audits, and stakeholder engagement into our decision-making process, we ensure accountability at every level.”
He added: “Sustainability must be measured, not just discussed. That’s why we also integrate ESG metrics into performance reviews, making it a part of our company culture rather than just a corporate initiative.
“We are not just providing water — we are safeguarding the future of water sustainability in Saudi Arabia. Our goal is to drive meaningful change that aligns economic success with long-term sustainability.”
These efforts reflect broader national momentum, as Saudi businesses bridge profitability and planetary stewardship to set new benchmarks for ESG leadership in emerging markets.
Similarly, Luisa Javier, CEO of WAYAKIT, highlighted how her women-led biotechnology company has embedded ESG into its DNA, transforming hygiene solutions in aviation, transportation, and facilities management.
“We are not just creating products; we are building solutions that have a measurable environmental and social impact,” she told Arab News.
WAYAKIT’s flagship disinfectant eliminates 99.999 percent of viruses and bacteria in just 30 seconds using 93 percent biodegradable components.
By replacing harmful quaternary ammonium compounds with biodegradable nano-modified citric acid in aircraft cleaning processes, the company says it has reduced environmental impact by 94 percent.
In addition, its environmental footprint tracker measures progress in energy efficiency, water conservation, pollution reduction, and health improvements.
“Sustainability isn’t just about compliance — it’s about innovation,” said Javier. “We have to rethink traditional approaches and develop solutions that align with the future.”
WAYAKIT also integrates ESG principles into its governance and transparency measures. Its women-led C-suite strengthens decision-making diversity, while blockchain technology safeguards sustainability metrics, preventing greenwashing and ensuring accurate reporting.
“Authenticity matters,” said Javier. “Every sustainability claim we make is backed by rigorous third-party laboratory testing. We are setting a new standard for how biotech companies can be both profitable and responsible.”
DID YOU KNOW?
• The Kingdom is aiming for net zero carbon emissions by 2060, embedding ESG principles in national initiatives like Green Riyadh.
• In 2021, the Saudi Stock Exchange introduced ESG disclosure guidelines, mandating listed companies prioritize transparency.
• Saudi Electricity Co., Almarai, and Saudi Telecom Co. have embedded ESG guidelines, issuing green bonds and improving governance.
Community engagement is another cornerstone of WAYAKIT’s ESG strategy. With 70 percent of its workforce consisting of women, the company provides technical training in biotechnology and leadership development to foster career advancement for Saudi women.
“Empowering women in STEM is not just a mission — it’s a responsibility,” said Javier. “Our workforce is a reflection of what Saudi Vision 2030 aims to achieve: a thriving, innovative economy where women play a central role.”
This momentum is part of a broader national trend. A 2023 report by Saudi Arabia’s sovereign wealth fund, PIF, highlighted how Saudi organizations, particularly those within its portfolio, are spearheading ESG awareness and implementation.
The Saudi Green Initiative, launched by Crown Prince Mohammed bin Salman, supports this shift with $187 billion in investments across more than 60 programs to advance the green economy.
Through large-scale investments in green initiatives, innovative carbon reduction strategies, and community-focused programs like those led by SAWACO and WAYAKIT, Saudi businesses are proving that profitability and sustainability can coexist.
Collectively, these efforts set a new benchmark for ESG leadership in emerging markets while positioning Saudi Arabia as a global leader in sustainable development.
IRS starts laying off 20,000 workers, eliminates civil rights office
- They come amid the busiest time of the year for the IRS
The US Internal Revenue Service began making sweeping cuts to its workforce on Friday, the agency’s leadership said in an email to staff on Friday, and among the first to go will be employees of its civil rights office.
Reuters previously reported that more than 20,000 staff would be cut, which a source familiar with Friday’s announcement confirmed, saying 20 percent-25 percent of the tax-collecting agency’s workforce would be targeted.
The start of the layoffs and the civil rights office’s elimination were first reported by the Washington Post.
The cuts are part of a major overhaul of the federal workforce that has already cost more than 200,000 workers their jobs. President Donald Trump has tasked billionaire Elon Musk with leading the reshaping and downsizing of the government.
“The IRS has begun implementing a Reduction in Force (RIF) that will result in staffing cuts across multiple offices and job categories,” an internal human resources email sent to all staff said on Friday.
The email said 75 percent of the agency’s civil rights office, previously called the office of diversity, equity and inclusion, will be cut and its remaining employees will move under a separate office.
Trump has passed executive orders aimed at dismantling DEI initiatives that he has labeled discriminatory. Civil rights groups have condemned the actions, saying DEI measures help in addressing historical and generational inequity.
The email said the mass layoffs would take place in phases.
They come amid the busiest time of the year for the IRS, with the filing deadline for most individual tax returns falling on April 15.
Ronaldo delivers Riyadh Derby glory for Al-Nassr
- Ace marksman scores twice in fierce battle
- Yellows also put major dent in title chances of local rivals with victory
RIYADH: Cristiano Ronaldo scored twice to help Al-Nassr to a 3-1 win over Al-Hilal on Friday and a first Riyadh derby victory in the Saudi Pro League for over three years.
The Yellows also put a major dent in the title chances of their local rivals, who stay four points behind Al-Ittihad at the top of the table but have now played a game more.
The result also keeps Al-Nassr’s faint championship hopes alive as they are now seven points behind the leaders with eight games of the season remaining.
It was a fierce battle, as is always expected in what is one of Asia’s biggest matches, but it was a deserved win for Al-Nassr.
While Ronaldo’s exploits will take the headlines, the opening goal, which came deep into added time at the end of the first half, was a thing of beauty. Marcelo Brozovic rolled a corner to the edge of the area where the home defense had switched off. There was still a lot of work to do for Ali Al-Hassan but he took one touch and then curled a perfect shot into the top corner to give the visitors the lead in spectacular fashion.
Two minutes after the restart, Ronaldo extended Al-Nassr’s lead with his 20th league goal of the season. Sadio Mane broke free down the left and pulled the ball back for the former Manchester United star inside the area who hooked his shot into the net.
The Al-Nassr fans, who had endured six winless league games in this fixture, went wild, but just after the hour Al-Hilal clawed themselves back into it. Sergej Milinkovic-Savic nodded a corner toward the back post and there was Ali Al-Bulaihi to head home from close range.
The Blues continued to push forward in search of an equalizer, but three minutes from the end Ronaldo secured the win for his side. A handball was given in the box and the 40-year-old scored from the spot, straight down the middle of the goal.
Attention now turns to the Jeddah derby on Saturday and all fans will be wondering whether Al-Ittihad can beat Al-Ahli to move seven points clear at the top.
