Samsung vice chairman banned from overseas travel over Park Geun-hye scandal

Samsung Electronics Vice Chairman Lee Jae-yong answers a question during a parliamentary probe into a scandal engulfing President Park Geun-hye at the National Assembly in Seoul on Dec. 6. / Yonhap

By Park Si-soo

Samsung Electronics Vice Chairman Lee Jae-yong has been banned from overseas travel in connection with the corruption scandal involving President Park Geun-hye and her close friend Choi Soon-sil, said prosecutors Saturday.

The ban has also been imposed on SK Group Chairman Chey Tae-won and Lotte Group Chairman Shin Dong-bin, the prosecutors said.

The business executives are suspected to have "donated" billions of won to two foundations under Choi's control. In return, Choi influenced the government to give their companies business favors.

The three tycoons have admitted they made cash donations to the foundations -- Mir and K-Sports Foundation -- which allegedly served as Choi's “personal ATMs.” But they claim it was made for a “good cause,” not a bribe.

Samsung made the biggest donation of some 20 billion won to the foundations. The biggest conglomerate in South Korea allegedly spent billions of won to buy a horse for Choi's daughter, Chung Yu-ra, an equestrian representing the nation in many international sporting events, and sponsored her training in Germany.