[News Today] APPELLATE RULING ON SAMSUNG CHAIR

We just received breaking news. The Seoul High court has made a ruling over Samsung Electronics Chairman Lee Jae-yong, regarding his alleged involvement in irregular transactions, stock price manipulation and accounting fraud during the merger of Samsung C&T and Cheil Industries.

The Seoul High Court has acquitted Samsung Electronics Chairman Lee Jae-yong in an appellate ruling over a controversial merger between two Samsung affiliates.

This comes four years and five months after the trial against him began and a year after he was cleared of all charges by a lower court.

The bench found Lee not guilty, saying that it's difficult to think that the report on the merger was fabricated. They also noted the lack of evidence that the National Pension Service had inappropriately supported the merger.

Lee was indicted in 2020 for his alleged involvement in irregular transactions, stock price manipulation and accounting fraud in the process of the 2015 merger between Samsung C&T and Cheil Industries, which was designed to help him take over control of the conglomerate at minimum costs.