Samsung Group Chairman Lee returns home

Samsung Group Chairman Lee Kun-hee returned home Monday, about 40 days after he left South Korea while an investigation was underway into whether he illicitly transferred his wealth to his children.

Lee arrived in the country only hours after a National Assembly committee voted down a proposal summoning him and his only son, Jay-yong, for questioning over the allegation, which has been investigated separately by the prosecution.

Lee is suspected of having transferred his wealth to his son and three of his daughters by enabling them to buy convertible bonds for Samsung Everland Inc., an affiliated amusement park and the group's de facto holding company, at a below-market price.

Two Samsung executives were convicted last year in connection with the allegations.

Lee Kun-hee left the country on Sept. 14 to receive the Van Fleet Award at an annual business meeting in New York. Then he toured the group's operations in the United States, Britain, the United Arab Emirates and Japan, company officials said.

Lee Jay-yong and other executive members, including Samsung Electronics Co.'s CEO Yoon Jong-yong and Group Vice Chairman Lee Hak-soo, later accompanied Lee on his trip.

The Van Fleet Award, named after a former commander of the Eighth U.S. Army during the 1950-53 Korean War, who was also a founding member of the organization, is given to people every year who contribute to South Korea-U.S. business relations. Lee was selected as the winner last month.

Seoul, Oct. 23 (Yonhap News)