Samsung chair acquitted of charges

Samsung Electronics Chair Lee Jae-Yong has been acquitted of alleged illegal succession connected to the merger of two Samsung affiliates in 2015. The court said the merger between Samsung C&T and Cheil Industries was not solely to help Lee inherit his father’s business.

The judges also said there was no evidence that the merger was unfair or that it inflicted financial losses on shareholders. The court dismissed the prosecutors’ claim that Samsung Group disseminated false market information and committed illegal practices. Including Former Head of Samsung Group’s Future Strategy Office, 13 other defendants in the case have also been acquitted.