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Lee Jae-yong, Executive Chairman of Samsung Electronics. (Photo = Yonhap News) |
[Alpha Biz= Kim Jisun] On July 17, flags were seen fluttering at Samsung Electronics' headquarters in Seocho-gu, Seoul.
On the same day, Samsung Electronics Executive Chairman Lee Jae-yong was acquitted of all charges related to the controversial merger between Samsung C&T and Cheil Industries, as well as alleged accounting fraud at Samsung Biologics.
The ruling brings an end to a years-long legal battle centered on allegations that the merger was orchestrated to strengthen Lee’s control over the conglomerate.
The court concluded that there was insufficient evidence to prove that the merger or accounting practices were intended to serve illegitimate purposes.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
