South Korean prosecutors are seeking a 12-year jail sentence for Samsung Electronics vice-chairman Lee Jae-yong. Mr Lee is facing charges over his alleged role in a bribery scandal which led to the It is alleged he made a large donation in exchange for government support of a merger of two Samsung subsidiaries.

At the final hearing, prosecutors called Mr Lee the “ultimate beneficiary” of crimes committed in the scandal. Prosecutors have accused Mr Lee and four other executives of bribing Ms Park’s close confidante, Choi Soon-sil, with millions of dollars in exchange for presidential favours.

They said the restructuring would help to cement the leadership of Mr Lee, who was standing in as chairman for his ill father, Lee Kun-hee.