SEOUL , South Korea ( CNN ) -- The chairman of the Samsung Group announced his resignation Tuesday , just days after his indictment amid an investigation into allegations of corruption . Chairman of the Samsung Group Lee Kun-hee has been indicted for tax evasion and breach of trust . `` I sincerely apologize and will do my best to take full legal and moral responsibility , '' said Lee Kun-hee , who was indicted last week on charges of tax evasion and breach of trust . `` It grieves me for I still have many things to do . '' At least four other executives will leave their jobs at Samsung , which has annual sales of nearly $ 160 billion and accounts for 18 percent of South Korea 's economic output . Samsung also outlined several reforms Tuesday . Investigators started looking into the conglomerate in January , after a former company lawyer said the company created slush funds worth $ 200 million . The probe led prosecutors to indict Lee and several other executives , but the prosecutors said an investigation found no evidence to support an allegation that the company bribed government officials and prosecutors . Samsung 's exports -- valued at about $ 70 billion -- account for a fifth of all South Korean exports . The conglomerate outlined several reforms it plans to implement . `` We do not think that Samsung 's renovation is complete with what we have declared , and known that this is just the beginning , '' Samsung said in a statement . `` If there are any other things we should mend , we positively will . '' E-mail to a friend .
Lee Group chairman Lee Kun - hee announces resignation , however . Lee 's decision came a few days after his indictment amid corruption charges . Lee was indicted for tax evasion and breach of trust . Prosecutors say indictment relates to a plan to transfer control of the firm to his son .