Overview

• The Seoul High Court upheld a prior acquittal of Jay Y. Lee on charges of stock price manipulation and accounting fraud related to the 2015 merger of Samsung C&T and Cheil Industries.
• Prosecutors alleged the merger was orchestrated to consolidate Lee's control over Samsung, but the court ruled there was insufficient evidence to prove the accusations.
• The decision follows years of legal proceedings, including Lee's prior imprisonment on bribery charges connected to the same merger and his subsequent pardon in 2022.
• The controversial merger had faced criticism from minority shareholders and international investors, yet the court found it served a rational business purpose.
• With the ruling, Lee is now free from legal risks tied to the case, allowing him to focus on addressing Samsung's declining competitiveness in the semiconductor and AI chip markets.