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Tue 22 Apr 2008 12:46 PM

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Samsung chief resigns amid government probe

Lee Kun-hee apologises and takes responsibility for ‘everything, both legally and morally’

Samsung chairman Lee Kun-hee has today announced his resignation at a televised press conference in South Korea, admitting full responsibility for ‘everything.’

Kun-hee’s decision comes less than a week after he was simultaneously charged with tax evasion and breach of trust, but cleared of allegations by a former Samsung executive that the company used a multi-million dollar slush fund to bribe government officials.

Kun-hee’s son, Lee Jae-yong, and Samsung Vice President Lee Hak-soo also resigned.

Speaking at the conference, Kun-hee said: "We, including myself, have caused troubles to the nation with the special probe. I deeply apologize for that, and I'll take full responsibility for everything, both legally and morally."

Lee Soo-bin, the chairman of Samsung Life Insurance, will be temporarily taking on representation of Samsung group while Kun-Hee’s chairman position remains unfilled. There was no indication at the press conference as to who will be filling the position in the future.

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