Samsung Electronics Vice Chairman Lee Jae-yong is present at the hearing of the ruling and repatriation of the Gukjeong Nongdan case held at the Seoul High Court in Seocho-gu, Seoul on the afternoon of the 18th, and is not answering questions from reporters. yunhap news
At the trial of Samsung Electronics Vice Chairman Lee Jae-yong’s suspicion of illegal succession, prosecutors and lawyers engaged in fierce battles. While the prosecution claimed that Vice Chairman Lee had committed illegal activities in the process of succession of management rights, Lee’s lawyers refuted, saying, “I will reveal the unreasonableness of the prosecution’s investigation and the innocence of the defendants.”
Part 25 of the Seoul Central District Court Criminal Agreement (Dr. Jeong-je Park and Deputy Judge Seong-soo Kwon) held the second trial preparation date of 10 Samsung officials and Vice-Chairman Lee, who were charged with fraudulent transactions under the Capital Markets Act, market price control, and business negligence. did.
The prosecution led the Samsung Group’s Future Strategy Office to create a succession plan,’Project G’, and according to this plan, Vice Chairman Lee overestimated the value of Cheil Industries, which he owns a large amount of, and valued Samsung C&T in order to solidify the group’s dominance. Claimed to be undervalued.
The prosecution said, “A plan to prepare for succession has already been established in 2012, before and after the inauguration of Samsung Electronics’ vice chairman (by Vice Chairman Lee).” In response to the undervalued value of Samsung C&T’s stock in the process of the merger with Cheil Industries, he said, “The company’s assets were disposed of at a’cheap price’. “He emphasized.
Vice-Chairman Lee’s lawyer denied the prosecution, saying that no company has suffered damage from the merger.
A lawyer said, “At the time of the merger, the prosecution claimed that Cheil Industries was overvalued, but the National Pension Service net bought Cheil Industries’ stock worth 466.9 billion won in the six months before the merger was announced.” “I said.
In addition, he argued, “If one company suffers damage from the merger, it would be a problem, but after the merger with Cheil Industries, Samsung C&T improved its business performance and raised its credit rating.”
He added, “There are quite a lot of areas where the factual relationship cannot be recognized, and furthermore, in terms of legal law, the prosecution has not been acknowledged.” The total number of summons investigations was over 800,” he stressed that the prosecution’s investigation was one-sided.
In particular, Vice-Chairman Lee said, “We have passively responded to the prosecution’s investigation as the subject of the investigation, but now we want to reveal the innocence of the prosecution and the innocence of the defendants from the standpoint of the same party,” he said.
Samsung C&T and Cheil Industries went through the board of directors in 2015 and decided on a merger under the condition of exchanging one share of Samsung C&T for 0.35 shares of Cheil Industries, and Vice Chairman Lee, who owned a 23.2% stake in Cheil Industries, strengthened the group’s dominance through the merger. did.
Earlier, the prosecution decided that during the merger process, the Samsung Group made an unfair transaction, such as disseminating false information to raise the stock price of Cheil Industries and lower the stock price of Samsung C&T, led by the US front office, and in the process, Vice Chairman Lee reported and approved major matters. Handed over to trial.
On this day, the court decided to close the preparation for the trial and enter a formal trial. The next trial will be held at 10 am on the 25th.