ARREST WARRANT REQUESTED TO SAMSUNG HEIR

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Prosecutors have requested an arrest warrant for Samsung heir-apparent Lee Jae-yong in relation to legal violations in the managerial succession from his father, Lee Kun-hee. The decision comes two days after Lee's side requested a citizen panel to determine if his indictment was legitimate. Examination for the arrest warrant is to be held next week.

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​Prosecutors have requested an arrest warrant for Samsung heir Lee Jae-yong regarding legal violations in the power succession process. The decision comes two days after the tech tycoon requested that a citizen panel be set up to determine whether his indictment was legitimate. Prosecutors also requested arrest warrants for Samsung Group's Future Strategy Office former executives Choi Gee-sung and Kim Jong-joong. They concluded the duo should be detained for their legal violations in Samsung C&T's merger with Cheil Industries. Both of them face two charges. The former executives violated the capital market law by manipulating prices through accounting fraud at Samsung Biologics. In the process, they also violated the Act on External Audit of Stock Companies. Kim Jong-joong is also being charged with perjury. Back in 2017 during former President Park Geun-hye's trial, he testified the merger had nothing to do with the succession of Samsung's managerial rights. Prosecutors are zeroing in on whether the entire Samsung Group was involved in the merger back in 2015, and if Lee Jae-yong was aware of that. According to sources, prosecutors have obtained hundreds of documents from Samsung's Future Strategy Office proving that certain actions were carried out under direct instruction by the Samsung vice chair. Some speculated if Lee is found to have deliberately lowered the value of Samsung C&T in the merger process, he could also be charged with dereliction of duty. However, it was not taken into account in the arrest warrant request this time. So far, arrest warrants for the conglomerate's de-facto leader have been requested three times, including for his involvement in the Park administration scandal. The latest arrest warrant will be reviewed next Monday.