At final hearing of four-month trial, firm’s acting head Lee Jae-yong denies trying to seek political favours from Park Geun-hye

Prosecutors in South Korea have demanded a 12-year prison sentence for the acting head of Samsung over his alleged role in a bribery and corruption scandal that toppled the country’s former president Park Geun-hye.

 Speaking at the final hearing in his four-month trial at Seoul central district court on Monday, Lee Jae-yong fought back tears as he denied trying to seek political favours from Park in exchange for making large donations to foundations run by her close friend and confidante Choi Soon-sil.

 Lee is officially Samsung’s vice-president but has in effect run the company since his father, Lee Kun-hee, had a heart attack in 2014. He was arrested in February on charges of bribery, embezzlement and perjury.

The billionaire scion of South Korea’s richest family told the court: “I have never asked anyone, including the president, for anything for the company or my personal gain.”

 After pausing and sipping water to regain his composure, he added: “I deeply regret that I have given such disappointment and apologise.”

 He described his arrest and trial as “unjust” but added that he had the chance to reflect on his conduct during his six months in jail and accepted that the more Samsung had grown, “the stricter and higher the expectations from the public and society”.

 But he added: “Whether it was for my personal profit or for myself, I have never asked the president for any favours.”

 Prosecutors said Samsung’s alleged involvement in the Park scandal was indicative of the collusive ties between South Korea’s government and powerful, family-controlled conglomerates – or chaebol – of which Samsung is the largest.

 The special prosecutor, Park Young-soo, accused Samsung executives of lying in their testimony to protect Lee, who faces the longest prison term for any South Korean executive if convicted.

 Samsung, whose group revenues are equivalent to almost a fifth of South Korea’s GDP, did not comment on the prosecutors’ demand. The court will deliver its verdict on 25 August.

Read more at theguardian.com