
SEOUL, South Korea– A South Oriental allures court on Monday promoted a lower court’s ruling that acquitted Samsung Electronic devices Chairman Lee Jae-yong of economic criminal charges over a controversial merging in between Samsung associates that sealed his hold over the largest South Oriental firm.
The Seoul High Court denied a charm by district attorneys.
You Jin Kim, Lee’s legal representative, invited the judgment, stating he wishes that Lee would certainly currently concentrate on his firm adhering to Monday’s decision. District attorneys can once more interest the High court, whose judgments are last.
In February 2024, the Seoul Central Area Court claimed the prosecution fell short to adequately verify the merging in between Samsung C&& T and Cheil Industries was unjustifiably carried out with an objective to reinforce Lee’s control over Samsung Electronic devices.
Lee, a third-generation business successor that was formally appointed chairman of Samsung Electronics in October 2022, has actually led the Samsung team of firms given that 2014, when his late daddy, previous chairman Lee Kun-hee, experienced a cardiac arrest.
Lee Jae-yong offered 18 months behind bars after being founded guilty in 2017 over different bribery fees connected to the 2015 bargain.
He was initially punished to 5 years behind bars for providing allurements to then-President Park Geun-hye and her close adviser to win federal government assistance for the 2015 merging, which was essential to reinforcing his control over the Samsung service realm and strengthening the father-to-son management sequence.
Lee was released on parole in 2021, and absolved by South Oriental Head Of State Yoon Suk Yeol in August 2022.
Some investors had actually opposed the 2015 merging, stating it unjustly profited the Lee family members while harming minority investors.