Samsung Electronics Update: Suffered 0.42% Loss After Head Jay Lee Arrest

South Korean multinational conglomerate Samsung Electronics suffered a 0.42 loss after the company's head Jay Lee was arrested over a corruption scandal.

Samsung Electronics saw a dropping rate to 0.42 percent after Lee made headlines for being accused of bribery, embezzlement, and perjury. These accusations were believed to lead the impeachment of former South Korean President Park Geun-Hye.

Analysts have said that Lee's arrest from those accusations had a huge impact on Samsung and some of its global investors. They also revealed that the massive tech profit is mostly based on Samsung Electronics' fundamentals and strength.

With the negative reputation the head is currently having, analysts said that it would likely to drag down the company's marker performance. However, it's not really over for Samsung.

Samsung Electronics may drop down to 1.6 percent while Samsung Engineering dropped 1.2 percent and Samsung CT&T dropped by two percent. But the shares of Samsung SDI climbed 0.8 percent and Samsung ElectroMechanics has a 0.7 increase.

The Samsung Electronics head denied all allegations towards him. The prosecutors still accused Lee of committing bribery and hiding his assets overseas.

The Samsung spokesperson said that the case against their head is not yet over as they will do their best to make sure that the truth will be revealed to everyone, he said in a report with Reuters.

Lee is currently in the headlines for not living a luxurious and comfortable life in the prison cell. He is currently in a 6.56 square meter detention cell with a toilet and a television.

Prosecutors still have ten days to charge Lee with the accusations. They are still looking for more time to investigate and get the truth behind the allegations thrown at him.

They also plan to interrogate Lee in order to give something to the prosecution. After that, the court will be required to have its first ruling within three months.