Prosecution: "Regret Court's Dismissal Decision. Will Ensure Thorough Investigation According to Law and Principles"

[Asia Economy Reporter Choi Seok-jin] The prosecution investigating allegations related to the merger between Samsung C&T and Cheil Industries expressed its determination on the 9th to continue the investigation according to law and principles, regardless of the rejection of the arrest warrants requested for Samsung Electronics Vice Chairman Lee Jae-yong (52) and others.

In the early hours of the 9th, immediately after the rejection of the arrest warrants for Vice Chairman Lee, former Samsung Future Strategy Office Chief Choi Ji-sung (69), and former Future Strategy Office Strategy Team Leader Kim Jong-joong (64), the prosecution stated, "Considering the seriousness of the matter and the evidence secured so far, we regret the court's decision to reject the warrants," expressing disappointment over the warrant review outcome.

Furthermore, the prosecution revealed its intention to continue the investigation thoroughly, stating, "Regardless of the warrant trial results, the prosecution will make every effort to proceed with the investigation in accordance with law and principles."

The Economic Crime Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Bok-hyun), which has been investigating this case, filed arrest warrants on the 4th against Vice Chairman Lee, former Chief Choi, and former Team Leader Kim on charges of violating the Capital Markets Act (fraudulent trading and market manipulation) and the Act on External Audit of Stock Companies. Former President Kim was also charged with perjury.

From 10:30 a.m. to around 9:20 p.m. the previous day, Seoul Central District Court Judge Won Jeong-sook, in charge of warrant hearings, conducted a pre-arrest detention hearing for the three suspects: Vice Chairman Lee, former Chief Choi, and former Team Leader Kim. Around 2 a.m. on the day of the 9th, Judge Won dismissed all three arrest warrants.

Judge Won stated the reason for dismissal, saying, "The basic facts have been established, and it appears that the prosecution has already secured a considerable amount of evidence through its investigation. However, there is insufficient evidence to justify the necessity and appropriateness of detaining the suspects, contrary to the principle of non-custodial trial. Considering the importance of this case, it is deemed appropriate that the responsibility and degree of liability of the suspects be determined through sufficient debate and examination during the trial process."

With all three arrest warrants requested by the prosecution being dismissed, a reexamination of the prosecution's legal reasoning regarding Samsung BioLogics' accounting fraud and fraudulent trading during the merger process between the two companies has become necessary.

Additionally, attention is expected to focus on the Prosecution Investigation Deliberation Committee (Investigation Deliberation Committee), which Samsung requested to convene to "assess the validity of the indictment."

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