South Korean prosecutors pursuing bribery charges against Samsung heir Jay Y. Lee zeroed in on a five-minute chat with the country’s president as the start of a relationship that put both behind bars, according to Bloomberg.
The landmark trial of South Korea’s most powerful business figure focused on what transpired during a tete-a-tete in September 2014. Prosecutors allege Lee accepted then-President Park Geun-hye’s request to support equestrian training for the daughter of a close friend, anticipating it would help secure government support for business deals. But Lee’s lawyers said he couldn’t possibly have sought favors from Park during a quick conversation on the sidelines of a public event.
Lee’s hearing, dubbed the “trial of the century“ in Korea, threatens to expose a murky web of ties between top government officials and the richest family in the country. The billionaire stared quietly in front of him as his lawyers fought allegations that meetings with Park helped Lee engineer a 2015 merger that cemented control over Samsung.
As evidence, prosecutors produced a letter the conglomerate sent to a local lobbying group before the pivotal merger of Samsung C&T and Cheil, opposed by Elliott Associates. In that memo, Samsung sought the lobbyists’ assistance, expressing fears of a hostile takeover by a foreign fund and citing “national interests.“ Both Lee and Samsung have denied wrongdoing.
Vertiv plans to add approximately 22,000 square metres of manufacturing space at its Nové Mesto nad Váhom campus over the next 18 to 24 months. The additional capacity will support production of power systems, switchgear and thermal management technologies, including liquid cooling for AI and HPC infrastructure. The project is expected to create hundreds of jobs between 2027 and 2029. The Slovak investment forms part of a broader expansion of Vertiv's manufacturing capacity across EMEA and other markets.
After its first year, Abysalto is entering a phase of growth, cultural consolidation and preparation of products for foreign markets. The company now has around 450 people and a broad portfolio, from transport and energy to HR, public procurement, and sales automation. Željko Tandarić says AI will not eliminate good developers, but will move them towards the role of system architects and orchestrators.
