Seoul Central District Court rejects arrest warrant for Samsung chief Lee Jae-yong
  • 4 years ago
이재용 영장 기각...불확실성 그늘 속 '첩첩산중'

Samsung's de facto leader, Lee Jae-yong, avoided a second stint in jail when a Seoul district court denied an arrest warrant for financial fraud in a 2015 intra-conglomerate merger.
But, that doesn't mean the billionaire scion is now in the clear.
Kim Dami has the details.
Samsung Group heir Lee Jae-yong has avoided a return to jail.
A South Korean court Tuesday denied an arrest warrant for Lee on the grounds that there was not sufficient probable cause for his arrest.
The de facto leader has been embroiled in a legal battle over his alleged role in bribery and fraud during a corporate merger in 2015.
While the company has avoided worst case scenario, it is now left with great uncertainties.
"The court didn't feel the NEED to arrest him so it doesn't mean that his charges are called off. It's highly possible that he'll be found guilty in the future."
Prosecutors could still indict Lee after collecting further evidence. But, it's the billionaire business tycoon's own ambitions that may be putting the company at risk.
"His repeated 'owner risk', the misconduct of conglomerate owners, continues to be a threat to the company's stock prices and its future."
To make matters worse, Lee is also dealing with an old bribery case that has been ordered to be retried by the Supreme Court.
As prosecutors expressed much disappointment with the court's latest ruling, Samsung now pins its hopes on a citizen panel.
The company last week requested an establishment of a panel of citizens to judge if the latest investigation is even necessary.
In the meantime, Lee is expected to concentrate all efforts on improving his company's image.
"We will create the 'New Samsung' that suits South Korea's national dignity."
While the fate of the giant company relies heavily on its leader's legal fight, Samsung will now speed up its preparations for the future by regaining public trust.
Kim Dami, Arirang News.
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