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Seoul Central District Court rejects arrest warrant for Samsung chief Lee Jae-yong

2020-06-09 8 Dailymotion

이재용 영장 기각...불확실성 그늘 속 '첩첩산중'<br /><br />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.<br />But, that doesn't mean the billionaire scion is now in the clear.<br />Kim Dami has the details.<br />Samsung Group heir Lee Jae-yong has avoided a return to jail.<br />A South Korean court Tuesday denied an arrest warrant for Lee on the grounds that there was not sufficient probable cause for his arrest.<br />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.<br />While the company has avoided worst case scenario, it is now left with great uncertainties.<br />"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."<br />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.<br />"His repeated 'owner risk', the misconduct of conglomerate owners, continues to be a threat to the company's stock prices and its future."<br />To make matters worse, Lee is also dealing with an old bribery case that has been ordered to be retried by the Supreme Court.<br />As prosecutors expressed much disappointment with the court's latest ruling, Samsung now pins its hopes on a citizen panel.<br />The company last week requested an establishment of a panel of citizens to judge if the latest investigation is even necessary.<br />In the meantime, Lee is expected to concentrate all efforts on improving his company's image.<br />"We will create the 'New Samsung' that suits South Korea's national dignity."<br />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.<br />Kim Dami, Arirang News.<br />

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