Prosecution Re-summons Kim Jong-jung, Former Samsung Miwon Office President... Lee Jae-yong Vice Chairman Likely to be Summoned Next Week

Kim Jong-jung, former President of Samsung Future Strategy Office [Photo by Yonhap News]

[Asia Economy Reporter Choi Seok-jin] The prosecution investigating allegations related to the merger of Samsung C&T Corporation and Cheil Industries re-summoned Kim Jong-jung, former president of Samsung Future Strategy Office (64), for questioning on the 12th.

As the prosecution's investigation into Samsung's management succession allegations surrounding the merger of the two companies, which has been ongoing for a year and a half, approaches its final stages, Lee Jae-yong, vice chairman of Samsung Electronics (52), is also expected to be summoned for questioning next week.

The Economic Crime Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Bok-hyun) called Kim, the former president, in the morning to investigate the decision-making process within the group’s top management during the 2015 merger of Samsung C&T and Cheil Industries.

The prosecution believes that Kim, who was the head of the strategy team at the Future Strategy Office at the time of the merger, was involved in the overall merger process, including adjusting the merger ratio.

Ahead of summoning Vice Chairman Lee for questioning, the prosecution has been conducting additional summonses of related parties, including re-questioning Jang Choong-ki, former deputy head (66, president) of the Samsung Future Strategy Office, on the 8th, and summoning Yoo Sang-ho, vice president (60) of Korea Investment & Securities, the lead underwriter at the time of Samsung BioLogics' listing, for questioning the day before, seemingly intensifying efforts to solidify charges.

The prosecution is reportedly planning to conclude the investigation into the merger allegations within this month and decide on the prosecution of key suspects. The summons of Vice Chairman Lee, initially expected this week, is now likely to take place next week.

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