Samsung chairman cleared of all charges from 2015 merger case

South Korea's top court cleared Samsung Electronics chairman Lee Jae-yong of accounting fraud and stock manipulation on July 17, permanently removing a long-running legal risk for the head of the country's biggest company.

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SEOUL - South Korea's top court cleared Samsung Electronics chairman Lee Jae-yong of accounting fraud and stock manipulation on July 17, permanently removing a long-running legal risk for the head of the country's biggest company.

The Supreme Court upheld an appeals court's ruling that dismissed all charges in the case involving a US$8 billion (S$10.3 billion) merger in 2015, freeing him to focus on Samsung as it plays catch-up in a global race to develop cutting-edge artificial intelligence (AI) chips.

A lower court in 2024 had also cleared Mr Lee of the charges relating to a deal between two Samsung affiliates, Samsung C&T and Cheil Industries, which prosecutors said was designed to cement his control of the tech giant.

"The Supreme Court ruling clears a layer of legal uncertainty, which could be a long-term positive for Samsung," said Mr Ryu Young-ho, a senior analyst at NH Investment & Securities.