An executive with South Korea’s Samsung Electronics Co. Ltd. will plead guilty, serve 10 months in prison and pay a $250,000 fine for conspiring to fix prices of computer memory chips, the U.S. Justice Department said on Thursday.
Young Hwan Park participated in the conspiracy while he was a vice president of sales at Samsung, the world’s top memory chip maker, the department said.
Park is currently president of Samsung Semiconductor Inc., the company’s U.S.-based subsidiary.
Park also has agreed to assist the Justice Department in its ongoing investigation, which focuses on dynamic random access memory, or DRAM chips, the kind found in all personal computers.
A spokesman for Samsung was not immediately available to comment.
Four other Samsung executives agreed earlier this year to serve prison time and pay fines as a result of the probe, which has netted other memory makers.