Page Loader
Samsung Chairman's trial verdict postponed to February 5
As the legal proceedings unfold, all eyes will be on the court's decision and how it may affect Samsung's future

Samsung Chairman's trial verdict postponed to February 5

Jan 22, 2024
06:41 pm

What's the story

Samsung Electronics Chairman Lee Jae-yong's trial verdict has been pushed back to February 5, as he faces charges of stock price manipulation and accounting fraud. The Seoul District Court made the announcement on Monday, without giving a reason for the delay. Prosecutors are seeking a five-year jail term for the business magnate in relation to these accusations.

Details

Samsung's legal challenge amid semiconductor slump

This legal hurdle arrives at a time when Samsung is struggling with a downturn in the semiconductor industry. The trial's outcome could greatly impact the South Korean conglomerate, which is already dealing with market challenges. As the legal proceedings unfold, all eyes will be on the court's decision and how it may affect Samsung's future.

Details

Lee was earlier convicted of bribing former South Korea President

The prosectors demand that Lee Jae-yong should be sent to five years in prison for accounting fraud and stock price manipulation involving an $8 billion merger of Samsung's affiliates in 2015. This case is the last part of Lee's legal tussle pertaining to the merger of the affiliates. Lee was earlier convicted of bribing former South Korea President Park Geun-hye and was imprisoned for 18 months from 2017 to 2021. He was paroled in 2021 and then pardoned in 2022.