Samsung's Jay Y. Lee Acquitted, Shifting Focus To Business Challenges

Seoul High Court on Monday acquitted consumer electronics company Samsung Electronics Co (OTC:SSNLF) executive Chair Jay Y. Lee of fraud and stock-rigging charges. The ruling removes a legal hurdle for Lee as Samsung navigates business challenges.

Lee has faced graft allegations since 2017, Bloomberg reports.

Also Read: Samsung Taps Google AI, Qualcomm Tech for Galaxy S25 to Rival Apple’s iPhone

South Korean prosecutors first indicted Lee for allegedly providing horses and other payments to a former president’s confidante to win support for his succession. The case triggered the impeachment of then-President Park Geun-hye.

Monday’s ruling involved a 2015 merger between two of Samsung Group’s units. Prosecutors charged Lee ...

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