Samsung Electronics Executive Chairman Lee Jae-yong has been cleared of all fraud charges by South Korea’s Supreme Court, concluding a prolonged legal saga tied to a controversial $8 billion merger in 2015.
The ruling upheld earlier acquittals, with the court finding no wrongdoing in Lee’s alleged attempts to solidify control over the tech giant using stock and accounting fraud.
Prosecutors had accused him of manipulating Samsung C&T and Samsung Biologics to engineer the takeover, but the top court ruled the transactions lawful.
The final verdict ends a five-year trial that drew national attention amid concerns over the influence of chaebols on governance.
Lee had previously served jail time for unrelated bribery charges but received a presidential pardon in 2022. Samsung’s legal team welcomed the decision, saying the ruling confirms the legitimacy of the merger and financial reporting.
The company, a key pillar of South Korea’s economy, has been grappling with global competition and sluggish market performance during the prolonged legal battle.
Written By Ian Maleve
