[Asia Economy Reporter Kim Daehyun] The first formal trial of Samsung Electronics Vice Chairman Lee Jae-yong, who is accused of ordering and approving unfair mergers of affiliates to secure Samsung Group's management succession, is being held today.
On the 22nd, the Criminal Division 25-2 of the Seoul Central District Court (Presiding Judges Park Jeongje, Park Sarang, and Kwon Seongsu) will hold the first hearing for Vice Chairman Lee and 10 Samsung officials, who have been indicted on charges including unfair trading practices and market manipulation under the Capital Markets Act, as well as breach of trust in the course of business.
Having undergone appendicitis surgery while serving his sentence and discharged on the 15th, he is required to appear in court today as part of his obligation to attend the trial. This marks Vice Chairman Lee's first court appearance about seven months after the indictment was filed.
The prosecution alleges that Samsung Group's Future Strategy Office led the 2015 merger of Samsung C&T and Cheil Industries to facilitate Lee's management succession by inflating Cheil Industries' stock price and lowering Samsung C&T's stock price through the dissemination of false information, and that Lee was informed of and approved this process. On the other hand, Lee's defense claims that the merger was a legitimate business activity carried out for managerial necessity and asserts his innocence.
Separately from this case, he was sentenced to two years and six months in prison and detained in court in January following the retrial of the state affairs manipulation case.
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