Samsung Boss Cleared of Fraud in Final Court Ruling
South Korea’s Supreme Court has officially cleared Samsung Electronics chairman Jay Y. Lee of all charges tied to a controversial 2015 merger, putting an end to years of legal battles. Prosecutors had accused Lee of inflating the value of Samsung Biologics to gain control of Samsung through a merger worth around $8 billion, but the court upheld earlier rulings that found no wrongdoing. "Today’s final ruling by the Supreme Court has clearly confirmed that the merger of Samsung C&T and the accounting treatment of Samsung Biologics were lawful," Samsung’s lawyers said.
The verdict removes a major distraction for Lee as Samsung fights to catch up in the global AI chip race, especially with rising competition from rivals like SK Hynix. Lee, who has led the company since his father’s heart attack in 2014, has spent nearly a decade dealing with legal troubles, including a bribery scandal that led to jail time and a presidential pardon. Despite the court drama, Samsung Electronics shares rose as much as 2.3% after the ruling, while Samsung Biologics jumped over 3%.
Business groups welcomed the decision, saying it will help Samsung move faster at a time of global uncertainty, including potential US tariffs on chips. With the case finally behind him, Lee said last year, “The reality facing [Samsung] is harder than ever, but I will overcome and take a step forward.”
