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Samsung chief Lee cleared of charges in 2015 merger case

·1 min

Samsung Electronics Chairman Jay Y. Lee has been found not guilty by a Seoul court in a case related to irregularities in a 2015 merger of Samsung affiliates. Prosecutors alleged that the merger was designed to solidify Lee’s control over the tech group. Lee denied any wrongdoing and argued that the merger would benefit shareholders. Prosecutors had requested a five-year jail term for Lee. The ruling can still be appealed. Lee had previously been convicted in 2017 for bribery but was pardoned in 2022. The Lee family and related entities own 20.7% of Samsung Electronics as of end-September.