Chairman Lee Jae-yong, 4 more years until Supreme Court verdict?… Prosecutor appeals against first trial verdict of not guilty
Article in 2024-02-09 20:00:00
Article modified 2024-02-09 20:40:20
Following the prosecution’s appeal against the first trial acquittal of former Supreme Court Chief Justice Yang Seung-tae for judicial misconduct, the prosecution also appealed the first trial acquittal of Samsung Chairman Lee Jae-yong for the Samsung C&T-Cheil Industries merger. As the legal battle regarding the verdict of guilt and innocence continues to the court of appeal, the ‘judicial risk’ of Chairman Lee and Samsung is expected to continue for the time being. The legal community believes that there is little chance that the not guilty verdict in this case will change.
Samsung Electronics Chairman Lee Jae-yong. random news
According to the legal community on the 9th, the Seoul Central District Prosecutors Office was dissatisfied with the first trial verdict that acquitted Chairman Lee and filed an appeal based on a misunderstanding of the facts and the law.
The prosecution officer stated the reason for the appeal, saying, “There is a great difference of opinion from the first trial regarding the purpose and circumstances of the succession of group management through the merger of Samsung C&T and Cheil Industries, evidence judgment for accounting fraud. and illegal trading, recognizing facts, and judging legal principles.”
The prosecution emphasized in particular, “There are many points which are inconsistent with the judgment of the court which previously recognized the ‘operation of succession’ of the management of the group, so we appeal to correct this in order to unite the recognition of facts and interpretation of the law. .”
Chairman Lee was arrested in September 2020 on charges of being involved in various illegal transactions, market manipulation, and accounting fraud promoted by the Future Strategy Office in order to stably succeed to management rights and strengthen control at the lowest cost in during the merger of Cheil Industries and Samsung C&T was accused in 2015. in March.
Prior to this, the Supreme Prosecutors Office’s Investigations Review Committee, convened at the request of Chairman Lee in June 2020, recommended that the investigation be suspended and not indicted, but the prosecution moved forward with the indictment, saying it needed to be held in liable.
On the 5th, three years and five months after the indictment, the Criminal Agreement Division of the Seoul Central District Court 25-2 (President Judge Park Jeong-je, Ji Gwi-yeon, and Park Jeong-gil) Chairman Lee not guilty on all 19 charges. Rarely is the prosecution so completely defeated.
Photo = Newsis
The court ruled that the merger of the two companies could not be considered unfair in general because it was not done with the sole purpose of succeeding Chairman Lee and strengthening his management, and there was no evidence to recognize that it had caused harm to shareholders .
However, the prosecution decided internally to seek a second verdict again as it was difficult to understand the first verdict.
The prosecuting officer said, “As the trial has taken a long time to reach the verdict of the first trial, we will ensure that the appellate trial proceeds quickly and efficiently, focusing on key issues and legal principles from the date of preparation’ r trial.”
There are many voices of concern in the legal community regarding the prosecution’s appeal.
When Prosecutor General Lee Won-seok took office, he said, “I will avoid mechanical appeals in cases of innocence.” The intention is to avoid unreasonable appeals.
This is why there are criticisms in the legal world that “the prosecution’s appeal is too mechanical.”
Samsung Electronics Chairman Lee Jae-yong enters the Seoul Gimpo Business Aviation Center in Gangseo-gu, Seoul to depart for the country on the 6th. random news
With the appeal of the prosecution, Samsung will have to postpone for a while expectations that the uncertainty surrounding his head will be resolved and that the scope of his operation will be expanded.
Chairman Lee has appeared in court 96 times, barring unavoidable circumstances, in a total of 107 trials. In addition to the government corruption case, the situation has continued for 9 years, with the government unable to move due to judicial risk.
Samsung Group has been stagnant without being able to carry out large-scale mergers and acquisitions (M&A). The dominance of semiconductors and mobile phones in the market has also weakened.
This is because competitors, which were fully supported by all countries, are shaking Samsung’s position. In fact, last year, Samsung lost its position as the world’s No. 1 semiconductor company to Intel. In the smartphone market, it also lost its first place to its competitor, Apple.
A business official pointed out, “It will take another 3 to 4 years for the Supreme Court to reach a verdict because of the prosecution’s appeal,” and added, “This can only be a national loss.”
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