Prosecutors Summon Choi Chi-hoon, Chairman of Samsung C&T, for the Third Time... Accelerating Investigation into Merger Allegations

Chairman Choi Chi-hoon of Samsung C&T Corporation's Board of Directors is returning to Gimpo Airport in Gangseo-gu, Seoul on the 12th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Song Seung-yoon] The prosecution, investigating allegations surrounding the merger of Samsung C&T and Cheil Industries, summoned Choi Chi-hoon (63), chairman of the Samsung C&T board, for questioning again on the 1st. This was Choi's third appearance before the prosecution since his first interrogation in February.

The Economic Crime Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Bok-hyun) summoned Chairman Choi in the morning to inquire about the facts related to the decline in Samsung C&T's value during the 2015 merger with Cheil Industries and the internal decision-making process.

The prosecution suspects that the Samsung Group deliberately lowered Samsung C&T's corporate value by reducing performance figures such as overseas construction orders right before the merger, in order to set a merger ratio favorable to Samsung Electronics Vice Chairman Lee Jae-yong.

Previously, following the Supreme Prosecutors' Office directive to minimize summonses to prevent the spread of the novel coronavirus (COVID-19), the prosecution had postponed additional investigations of Samsung officials. However, after summoning Chairman Choi again on the 19th of last month, the investigation into the Samsung merger allegations resumed.

This content was produced with the assistance of AI translation services.