Samsung's Lee cleared of all charges

Samsung Electronics Co Executive Chairman Jay Y. Lee was cleared of all charges related to accounting fraud and stock manipulation by South Korea's Supreme Court, marking a major legal victory for the billionaire head of the world's largest electronics empire.

- YOOLIM LEE

The top court yesterday upheld a Seoul High Court ruling that acquitted Mr Lee and other Samsung officials of all 19 charges stemming from the 2015 merger of Samsung C&T Corp and Cheil Industries Inc. Prosecutors alleged the deal helped Mr Lee cement his control over the conglomerate.

The decision ends a years-long legal saga that had cast a shadow over the leadership of South Korea's biggest conglomerate. It will also allow the company to focus on revitalising its business and try to reclaim its position as a leading supplier of the advanced chips driving the artificial revolution just as US President Donald Trump has threatened to impose crippling duties on chip exports.