Lee Jae-yong, the heir to the Samsung empire, has been acquitted of all charges related to a 2015 merger, marking a significant legal victory for the South Korean business magnate. The Seoul High Court upheld an earlier decision, effectively freeing Lee from further legal scrutiny in this long-running case. While the prosecution can still appeal to the Supreme Court, experts believe it is unlikely to succeed. This ruling allows Lee to focus on leading Samsung's crucial mobile and chip businesses, which have been facing challenges in recent years.
reported. Earlier on Monday, the Seoul High Court upheld an earlier decision acquitting Lee of stock manipulation and accounting fraud charges over a 2015 merger. The ruling will allow Lee to focus on Samsung 's mobile and chip businesses, which have seen
The prosecution can still appeal to the Korea's Supreme Court, but that would be unlikely to succeed since no new arguments could be presented, experts say. "It has been a very long time in the investigation and trial of this case," said Samsung lawyer Kim You Jin in a statement. "We hope that with this verdict, the defendants can now focus on their work."
Back in 2017, prosecutors accused Lee of manipulating the share price of two Samsung subsidiaries to smooth the way for a merger that allowed him to consolidate his power. In early 2024, however, the court ruled that the prosecutors failed to prove that. "It is hard to say that Lee Jae-yong ... spearheaded the merger, and that the merger was done just for the sake of Lee’s succession," a judge stated in the ruling.
LEE JAE-YONG SAMSUNG MERGER ACQUITTAL SOUTH KOREA
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