SEOUL, June 27 (AJP) - Samsung Electronics Chairman Lee Jae-yong will receive a Supreme Court ruling on Jul. 17 regarding charges related to the 2015 merger between Samsung C&T and Cheil Industries. Lee was acquitted of all 19 charges in an appeals court ruling in February, maintaining his innocence in a case that has lasted nearly five years since prosecutors first filed charges in September 2020.
The case centers on the 2015 merger that combined Samsung C&T and Cheil Industries at a ratio of one Cheil Industries share for every three Samsung C&T shares. Prosecutors alleged the merger ratio was deliberately structured to benefit Lee's management succession at the expense of minority shareholders, arguing the terms unfairly favored Lee's consolidation of control over the Samsung Group conglomerate.
Both the initial trial court in February 2024 and the appeals court ruled in Lee's favor, finding insufficient evidence to support the prosecution's claims. The courts specifically rejected evidence obtained from 18 terabytes of backup server data seized from Samsung Biologics and Samsung Bioepis, ruling that the digital evidence and additional materials submitted during the appeals process lacked legal admissibility.
The case now proceeds to the Supreme Court's Third Division, presided over by Justice Oh Seok-jun, following the prosecution's final appeal. The July 17 ruling will mark the conclusion of a legal battle that began when Lee and other Samsung executives were indicted four years and 10 months ago, potentially ending one of South Korea's most closely watched corporate governance cases.
reporter
Candice Kim
candicekim1121@ajupress.com
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