Samsung and LG have officially left Iranian market due to US sanctions against Iran.

South Korea’s Samsung Electronics has denied reports that it was withdrawing from the Iranian market in the face of US sanctions, London-based bne IntelliNews says.

South Korean President Moon Jae-in will be taking several business tycoons — including Samsung heir Lee Jae-yong — with him to North Korea for a planned summit with North Korean leader Kim Jong-un.

Organizers of the Winter Games in South Korea say they have formally apologized to Iran over an earlier decision to deny its athletes gift Samsung smartphones.

Tehran summons the South Korean ambassador protest a discriminatory gift ban against Iranian athletes in Seoul ahead of Winter Olympics games.

State news agency Yanhap quoted PyeongChang Olympic organizers as saying Wednesday that the decision had been taken in line with sanctions on the two countries.

A South Korean appeals court upholds Samsung heir Lee Jae-yong’s bribery conviction but cuts his prison sentence to a suspended term.

The detention of South Korea's former president is extended for 6 months by a court, pending sentence.

Lee Jae-yong, the de facto CEO of Samsung Group, has been found guilty of bribery and four other charges. Lee has been sentenced to 5 years in prison.

Jay Y. Lee was found guilty of bribery and perjury amid other charges.