Lee Kun-hee, Samsung's 66 year old chairman and son of the company's founder, made a potentially damning announcement over the weekend. Following 11 hours of interrogation by prosecutors into allegations of bribery
and maintaining a slush fund
(among other improprieties), Lee said, "This is all due to my carelessness. I am responsible for everything and must take responsibility." We won't know for sure until the investigation is complete. However, the statement is less likely an admission of guilt than it is an attempt to appease the people of South Korea where the Samsung "chaebol" is more than just a brand, it's a national symbol of pride... at least it was.