Samsung's de facto head, Lee Jae-yong, has been acquitted of fraud charges related to a controversial merger as the Supreme Court confirms legality of business practices.
Samsung's Lee Jae-yong Exonerated by South Korea's Supreme Court

Samsung's Lee Jae-yong Exonerated by South Korea's Supreme Court
South Korea's highest court has ruled in favor of Samsung's leader, concluding a protracted fraud case.
Samsung Group's vice chairman, Lee Jae-yong, has been officially exonerated by the Supreme Court of South Korea in a landmark ruling concerning fraud allegations tied to a critical merger deal from 2015. This verdict puts an end to a complex and drawn-out legal battle that has attracted significant public and media scrutiny over the nation's notorious chaebols, or family-run conglomerates.
After facing accusations of employing stock manipulation and financial misconduct to solidify control over Samsung, Lee was initially convicted but later cleared in two previous court sessions. Emphasizing the legality of the merger involving Samsung C&T and Samsung Biologics, Samsung's legal team expressed gratitude for the court's comprehensive and meticulous judgment after an extensive five-year trial process.
The genesis of the case dates back to allegations surrounding a merger intended to facilitate a transfer of control following the incapacitation of Lee's father, Lee Kun-hee, who passed away in 2020 after enduring significant health issues for several years. The legal turmoil began when Lee Jae-yong was arrested in 2017 for alleged bribery tied to the merger, a charge that carried severe implications for the corporate leader. Despite these challenges, he has had previous sentences reduced, aided by a presidential pardon reflecting the government’s desire for stability in South Korea's economic landscape, especially during the pandemic recovery.
The 2024 district court ruling, which found him not guilty of any wrongdoing connected to the $8 billion merger price tag, culminated in the recent Supreme Court decision, reaffirming his innocence after prosecutors sought further appeal in a higher court. Lee's legal troubles, marked by trials and verdicts that spanned a decade, have continually added pressure on Samsung, amid an ever-competitive business environment and a lackluster stock performance.