Samsung Group Chairman was indicted of tax evasion and breach of trust on Thursday, but was cleared of a bribery charge, after a three month probe into allegations of corruption at South Korea's largest industrial group.

Lee Kun Hee, 66, was charged with evading 112.8 billion won ($114 million) of taxes, said special prosecutors in Korea.

The investigation started in January after a former top legal executive at the group alleged that some of the group's top management were hiding money and giving more than $200 million as a bribe to politicians, prosecutors and officials.

Nine other Samsung executives were also charged in connection with the allegations but Lee denied the charges.

The criminal acts subject to indictment today constituted grave crimes because the amount of tax evaded and profits taken by violation of duties were astronomical figures, said the prosecutor in its findings.

The prosecutor said Lee and other senior Samsung executives will not be arrested.

Samsung Group accounted for about 20 percent of South Korea's exports in 2006.