Samsung Officials Facing Corruption Charges Offer To Resign

Previously, only payments or donations of 680 billion won (about $600,773,200) or more to third parties were subject to such board reviews.

Samsung in a statement Friday said it has set up a "deliberative body" for tighter screening of donations and vowed to disclose all administered donations through company filings.

Ask Samsung. The company recently had its top executive arrested and the president of its home country rendered powerless, as a result of several donations made by Samsung to charities associated with the now impeached president. It's unclear whether the two executives have offered their resignations in a formal manner or whether the offer was an unofficial one. Choi Ji-sung, dubbed as the second-in-command of the Samsung empire has headed the strategy office since 2012 and Chang has been in charge of the conglomerate's external business.

Together with Choi who has been leading the Future Strategy Office, the group's de facto control tower, President Chang Choong-ki at the team also offered to resign, sources said.

Big Percentage Changers- Oclaro, Inc. (NASDAQ:OCLR), Bloomin' Brands Inc (NASDAQ:BLMN)
Bloomin Brands, Inc. (NASDAQ:BLMN) witnessed a decline in the market cap on Wednesday as its shares dropped 4.99% or 0.94 points. The Stock now has Analyst' mean Recommendation of 2.3 where the scale is from 1 to 5, 1 means Strong Buy and 5 means Sell.

The move comes after Samsung Electronics' vice chairman Jay Y. Lee, was arrested last week in connection with bribery charges.

"Samsung Pay service is actually ideal for the country because Malaysia has its national e-payment strategy with the ultimate goal of becoming a cashless society", said Lee.

Samsung Electronics announced a slew of measures on Friday meant to improve transparency in its social contribution program, after the company was found to have donated money to a friend of President Park Geun-hye allegedly in exchange for political favors.

If the company's two executives truly resign, their departure will mark the latest outcome of the influence-peddling scandal that already did a lot of damage to Samsung. This move from Samsung is hardly surprising, considering that the company will naturally look to clear its name and regain customer trust after going through a corruption scandal of epic proportions.

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