BUSINESS circles were taken aback yesterday by the arrest of the effective boss of Samsung for alleged involvement in a massive South Korean state corruption scandal.

Lee Jae Yong, a vice-chairman at Samsung Electronics and the only son of the ailing Samsung chairman, is accused of giving bribes worth £29 million to President Park Geun Hye and her close friend.

He wanted to enlist government support for a smooth company leadership transition, including a contentious merger of two Samsung companies.