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Park became South Korea's first democratically elected leader to be thrown out of office when, in 2017, the Constitutional Court upheld a parliament vote to impeach her over a scandal that also landed the heads of two conglomerates in jail.
The move came after a judge overseeing Samsung leader Jay Y. Lee's bribery case in October criticized the top conglomerate for its lack of an effective compliance system, saying one was needed to prevent wrongdoing by executives and its leader.
The scandal highlighted shady links between big business and politics in South Korea, with the country's ousted president Park Geun-Hye and her friend accused of taking bribes from corporate bigwigs in exchange for preferential treatment.
Lee Jae-Yong, the de-facto head of Samsung Electronics, was convicted last week of bribing South Korea's ousted president Park Geun-Hye and sentenced to five years in prison.
Lee, 49, has been in detention since February, and on trial for charges including bribery and embezzlement as part of a scandal that led to Park's ouster. Lee has denied wrongdoing.
The device, unveiled in New York last month and a challenge to Apple's iPhone, is the firm's first major launch since last year's humiliating withdrawal of the Galaxy Note 7 over exploding batteries.
The unanimous decision brought months of political turmoil -- that saw millions of people take to the streets -- to a climax and triggers a new presidential election which is to be held within 60 days.
Park's action had "seriously impaired the spirit of...democracy and the rule of law," said constitutional court chief justice Lee Jung-Mi. "President Park Geun-Hye... has been dismissed.
Samsung, in a statement, said top group executives including Vice Chairman Choi Gee-sung and President Chang Choong-ki had resigned and that its affiliates would manage themselves independently through cooperation between individual firms' chief executives and the boards of directors.
"Special prosecutors today indicted Samsung Electronics vice chairman Lee Jae-Yong... for bribery, embezzlement, hiding of assets overseas... and perjury," said Lee Kyu-Chul, spokesman for the team probing the corruption and power abuse scandal that has seen President Park Geun-Hye impeached.
South Korea's special prosecutor's office said on Wednesday it had expanded charges against Lee to include hiding the proceeds of a criminal act, as well as bribery, embezzlement, hiding assets overseas and perjury. Prosecutors are seeking an arrest warrant for Lee for the second time in a month.
The special prosecutor has focused on South Korea's biggest conglomerate, accusing Lee in his capacity as Samsung chief of pledging 43 billion won (USD 37.31 million) to a business and organisations backed by Park's friend, Choi Soon-sil, in exchange for support for a 2015 merger of two Samsung companies.
In a statement, prosecutors investigating the scandal said they asked a Seoul court to issue an arrest warrant for Lee Jae-Yong, the son of the Samsung group chairman Lee Kun-Hee.
The already-struggling economy has taken a severe hit from an influence-peddling scandal that has brought hundreds of thousands of protesters onto the streets every week demanding Park's removal.
A shock win by Donald Trump in the US presidential election earlier this week poses long-term risks the Bank of Korea (BOK) will need to monitor carefully.
Media reports have suggested that Samsung Electronics may have funnelled as much as 2.8 million euros (USD3.1 million) to Park's confidante, Choi Soon-Sil, to bankroll her daughter's equestrian training in Germany.
Prime Minister Narendra Modi, who met South Korean President Park Geun-Hye here on the sidelines of the East Asia Summit, together reviewed the Strategic Partnership which had been upgraded to a Special Strategic Partnership during the his visit to South Korea last year.
A slew of disappointing second-quarter growth reports are on the cards Asia in the week ahead, starting off with Singapore on Tuesday and followed by Malaysia on Thursday and Hong Kong on Friday.
Modi also held talks with his counterpart Li Keqiang and pushed for clarifying the Line of Actual Control (LAC). The Prime Minister then headed to Mongolia for the first ever visit by an Indian Premier to the country.
A slew of agreements are expected to be signed during the visit including one on Double Taxation Avoidance Convention, cooperation in shipping and logistics, audiovisual co-production, transport, highways and electric power development in new energy industries.
Narendra Modi will hold bilateral meetings with the country's leadership and participate in cultural and business events.
If Park Geun-hye wins South Korea's presidential election this month, as looks increasingly likely, she will become the first woman to hold the country's top office, challenging stereotypes in a nation that is largely run by men in blue suits.
