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Lee Jae-yong, Chairman of Samsung Electronics, who was indicted on charges of unfair mergers and accounting fraud, has been acquitted in the second trial following the first. With this ruling, his legal risks, which have persisted for ten years, have effectively been resolved. As a result, Chairman Lee is expected to accelerate efforts to overcome Samsung’s current crisis and prepare for the future, including discovering groundbreaking new businesses.
According to the business and legal communities on the 3rd, the Seoul High Court’s 13th Criminal Division upheld the lower court’s ruling of not guilty for Chairman Lee, who had been charged with violations of the Capital Markets Act, including fraudulent transactions, stock price manipulation, and breach of duty.
With this decision, attention is now focused on whether Chairman Lee, free from legal restraints, will be able to fully drive the "New Samsung" initiative and expedite efforts to overcome Samsung Electronics’ challenges.
In his final statement during the appellate trial on November 25 last year, Chairman Lee acknowledged growing concerns about Samsung’s future. He stated, "I am well aware that concerns about Samsung’s future have been increasing significantly in recent times. The reality we face is more difficult than ever, but we will overcome these challenges and take a step forward."
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