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On the 1st, the Seoul Central District Prosecutor’s Office (Deputy Prosecutor Bok-Hyeon Lee), Samsung Electronics Vice President Lee Jae-yong, and Choi Ji-sung, former head of the Future Strategy Office, and Kim Jong-jung , a former team leader at the Office of Future Strategy, were jailed on charges of illegal transactions under the Capital Markets Law, violating external audits and negotiating prices. During the indictment, he explained in detail the background of the indictment.
Previously, the Investigation Deliberation Committee had issued a recommendation that Vice President Lee suspend the investigation and not prosecute. Observation is conscious of turning this around. A prosecution official said: “After the recommendation of non-prosecution was issued by the Investigative Deliberation Committee, we thoroughly reviewed the direction of the case while listening to the opinions of outside experts.” “The clarity of the substance, the materiality of the case and the need to resolve public suspicions, etc., as evidenced by the list of the evidence, were synthesized in the prosecution. It has happened.” Furthermore, he said, “as a result of a week’s review of the main investigation records at the chief prosecutor’s meeting, a consensus was reached that prosecution and judicial trial were necessary.”
The prosecution believes that the merger between Samsung C&T and Cheil Industries was promoted in accordance with the ‘Project-G’ succession plan planned by the Samsung Group for several years. Subsequently, the prosecution’s judgment is that various illegal acts were followed at each stage of the merger, such as the systematic dissemination of false information, the concealment of important information, the public announcement of false positives, and illegal lobbying to ensure the voting rights of the national pension system.
In response, a prosecution official said: “The merger was a serious crime that did not know the legislative purpose of the Capital Market Law.”
In addition, the prosecution believes that in June-July 2015, Samsung provided false explanatory data from shareholders to persuade the national pension in the merger process of Samsung C & T-Cheil Industries. In addition, she cited the fact of illegal lobbying, such as the parade support for Mr. Seo-won Choi (a suspicion of bribery), as the main reason for the illegal merger. The prosecution said: “In the Supreme Court, it was confirmed that Vice President Lee sought a merger for the purpose of succession of management rights and bribed former Presidents Park Geun-hye and Mr. Choi in exchange for support for succession work. ” However, on these charges, Vice President Lee said: They are protesting, saying: ‘The investigation has been decided. It is noted that the fraudulent transaction charges were applied to the normal business merger process.
However, as Samsung strongly denies these charges, a court battle is expected at a future trial. Criticism of the prosecution for disabling the investigative deliberation committee system prepared for the prosecution reform is expected to grow.
