Prosecutors Appeal Against Samsung Chairman’s Acquittal
Prosecutors have appealed a recent court acquittal of Samsung Electronics Chairman Lee Jae-yong, who was charged with financial crimes related to the controversial 2015 merger of two Samsung affiliates.
Last Monday Seoul Central District Court cleared Lee of all charges over alleged engagement in market irregularities over the course of the merger.
On Thursday the Seoul Central District Prosecutors Office responded by filing an appeal against the ruling.
According to judicial sources, it was claimed that the merger was aimed at solidifying Lee’s managerial control of the firm at a lower cost.
The charges were first aired three years ago when South Korean prosecutors took action against the Samsung management team.
Lee is currently on an overseas business trip, where he is inspecting Samsung’s operations in the Middle East and Southeast Asia.
Concerns have now been raised by business community members over the prolonged legal risk facing Lee, which could be particularly unsettling at a time when big tech companies need to adapt to trends on artificial intelligence and global supply chain restructuring.