The Seoul High Court has upheld the acquittal of Samsung Electronics Chairman Lee Jae-yong in a case involving a controversial merger between Samsung affiliates. Prosecutors alleged the merger was designed to consolidate Lee's control over the company, but the court found insufficient evidence to support these claims. Lee Jae-yong, who has been leading the Samsung Group since 2014, was previously convicted and imprisoned for bribery charges related to a separate 2015 deal.
A South Korea n appeals court has upheld a ruling that acquitted Samsung Electronics Chairman Lee Jae-yong of financial criminal charges over a contentious merger between Samsung affiliates that cemented his grip over the biggest South Korea n company. Lee Jae-yong, center, is questioned by reporters as he leaves the Seoul High Court in Seoul, South Korea , Monday, Feb. 3, 2025.
(AP Photo/Lee Jin-man)You Jin Kim, Lee’s lawyer, welcomed the ruling, saying he hopes that Lee would now focus on his company following Monday’s verdict. Prosecutors can again appeal to the Supreme Court, whose rulings are final. In February 2024, the Seoul Central District Court said the prosecution failed to sufficiently prove the merger between Samsung C&T and Cheil Industries was unlawfully conducted with an aim to strengthen Lee’s control over Samsung Electronics. Lee Jae-yong has led the Samsung group of companies since 2014, when his late father, former chairman Lee Kun-hee, suffered a heart attack. Lee Jae-yong served 18 months in prison after being convicted in 2017 over separate bribery charges related to the 2015 deal. He was originally sentenced to five years in prison for offering bribes to then-President Park Geun-hye and her close confidante to win government support for the 2015 merger, which was key to strengthening his control over the Samsung business empire and solidifying the father-to-son leadership succession
Samsung Lee Jae-Yong Merger Acquittal South Korea
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