Samsung's Legal Team: "Thankful for the Opportunity to Overcome the Crisis"

Lee Jae-yong, Vice Chairman of Samsung Electronics, who is under prosecution investigation for allegations of unfair succession of management rights related to the merger of the former Samsung C&T and Cheil Industries, as well as allegations of accounting fraud at Samsung Biologics, is entering the courtroom to attend the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul on the 8th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Dongwoo Lee] On the 26th, the Prosecutorial Investigation Deliberation Committee recommended non-prosecution for Samsung Electronics Vice Chairman Lee Jae-yong, who is suspected of illegal corporate succession within the group. In response, Samsung's legal team stated, "We respect the decisions of the members of the Prosecutorial Investigation Deliberation Committee."

The legal team added, "We express our gratitude for giving Samsung and Vice Chairman Lee Jae-yong the opportunity to focus on corporate activities and overcome the current crisis."

Earlier that day, the Supreme Prosecutors' Office Investigation Deliberation Committee recommended the suspension of investigation and non-prosecution for Vice Chairman Lee, who is involved in the Samsung C&T-Cheil Industries merger and management succession allegations.