Samsung’s president Lee Jae-Mong was liquidated by the Korea Supreme Fraudshare Court and the legal battle against his role in the 2015 merger transaction was over.
Since 2014, Samsung’s founder and factor of the company’s de facto officer have accused the use of stocks and accounting frauds for the control of the company.
The Supreme Court in Seoul did not support the conviction in the final verdict.
The incident led to a broad investigation of this technical giant.
“Today, the Supreme Court clearly confirmed the merger of Samsung C & T and the final judgment that the accounting of Samsung Biological preparations is legal,” said Samsung Lawyer on Thursday.
“We sincerely thank the court for the wise ruling according to the thorough five -year trial process.”
The prosecution accused Lee and his advisors that he urged the expansion of his pharmaceutical company, Samsung Biological Biblicals.
Because of higher values, they were able to secure a greater share of major Samsung subsidiaries in the 2015 merger agreement, resulting in his succession.
The prosecution also said that the merger was designed to shift the company’s control from the company’s father, Lee Kun-Hee. His father suffered a heart attack in 2014 and died in 2020, facing his legal issues.
The young Lee was first arrested in 2017 by bribing the former President Park Zen-Hi as a bribe.
During the legal issue, he shortened his prison term when he was parole in prison, causing a separate prison term.
At the time, the government said that the leader of the country’s largest company is necessary, the government should lead the economic recovery of Korea after Covid-19 Pandemic.
In 2024, the District Court cleared all the charges related to the merger of about $ 8 billion (£ 59 billion) between the two subsidiaries.
After the prosecution appealed the case in the High Court, Lee was cleaned again.
Legal events over the past decade have been added to Samsung’s issues as competition has become fierce.
Samsung Electronics, where major businesses create smartphones and computer chips, have been facing sales decrease in recent years.
Another Korean chip manufacturer, SK Hynix, led last year’s artificial intelligence (AI) chip technology and surpassed Samsung for profits.
Last year, during the trial, Lee admitted that Samsung was facing a big challenge.
“Reality (Samsung) is hard to see at any time, but I will overcome and go one step ahead,” he said.
US President Donald Trump’s tariffs are another potential obstacle to Samsung, exporting many products to the United States.
The court’s decision was welcomed by the state business community.
The Korea Industrial Federation said in a statement that the ruling will allow rapid decisions in the top of Samsung, which will help the economy to explore trade confusion with the United States.
