Samsung Chief Jay Y. Lee Acquitted of Fraud and Stock Manipulation Charges

A South Korean appeals court upheld a lower court ruling clearing Lee of allegations tied to a 2015 merger, ending nearly a decade of legal battles.

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.