Gumi Citizens Welcome Supreme Court's Final Ruling
"Hoping for a Boost to the Regional Economy"
Kim Jangho, Mayor of Gumi City in Gyeongbuk, stated, "Together with the 410,000 citizens of Gumi, I sincerely welcome the Supreme Court's acquittal of Samsung Electronics Chairman Lee Jae-yong."
Banners celebrating the acquittal of Chairman Lee Jae-yong are hung throughout the streets of Gumi city, Gyeongbuk.
On July 17, the Supreme Court upheld the lower court's acquittal of Chairman Lee on charges of unfair merger and accounting fraud related to the succession of management control of Samsung Group. With this, the case has come to a close approximately four years and ten months after the prosecution's indictment.
In a statement released on July 19, Mayor Kim expressed his expectations, saying, "This ruling will serve as an opportunity to further solidify the foundation for continued growth of Samsung Electronics, a global innovation leader in Korea's industrial sector," and added, "The large-scale projects that Samsung is currently pursuing in Gumi will also be able to accelerate further."
The relationship between Samsung and Gumi runs deep. In particular, the so-called 'Anycall Burning Ceremony' in 1995, when the late Chairman Lee Kun-hee personally incinerated defective mobile phones at the Gumi plant and declared a commitment to quality innovation, is still remembered as a legendary moment in the industrial sector.
Since then, Samsung Electronics' Gumi plant has established itself as a 'Mother Factory' that sets the global standard for production, playing a pivotal role in Korea's export industry.
Mayor Kim emphasized, "The history of technological innovation and strategic partnership that Samsung Electronics has built together with Gumi is a source of pride for all citizens of Gumi," and added, "If Samsung makes large-scale investments in Gumi, which has attracted a semiconductor specialized complex and an opportunity development zone, it will mark a significant turning point in transforming the region's industrial structure."
He went on to say, "Gumi City will be the most reliable partner in helping Samsung secure global competitiveness," and pledged, "We will provide swift and proactive administrative support without reservation."
Meanwhile, citizens of Gumi and local community organizations are also celebrating the news of the acquittal by hanging banners across the city. This scene, which was also observed during the first and second trial verdicts, once again highlights the symbolic significance and influence that Samsung holds within the local community.
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