Lee Jae-yong and Samsung C&T Merger Case Referred to Prosecutors' Investigation Deliberation Committee... "Purpose to Grant Time for Explanation"

Lee Jae-yong, Vice Chairman of Samsung Electronics, who is under prosecution investigation for allegations of unfair succession of management rights related to the merger of the former Samsung C&T and Cheil Industries, as well as allegations of accounting fraud at Samsung Biologics, is entering the courtroom to attend the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul, on the morning of the 8th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Choi Seok-jin] The case involving allegations surrounding the merger of Samsung C&T and Cheil Industries, linked to Samsung Electronics Vice Chairman Lee Jae-yong (52) and others under investigation by the prosecution, will be reviewed by the Prosecution Investigation Deliberation Committee (hereafter Investigation Deliberation Committee), composed of external experts.

The Sub-Referral Deliberation Committee (hereafter Sub-Referral Committee), consisting of 15 prosecution citizen committee members from the Seoul Central District Prosecutors' Office and the Financial and Economic Crime Division, resolved on the afternoon of the 11th to refer the "Samsung Group illegal merger and accounting fraud case" to the Investigation Deliberation Committee.

The Sub-Referral Committee stated, "Considering the gravity of the matter and the public interest, we decided to grant time for explanation by referring the case."

They added, "Although opinions were presented and discussed that there was no need for referral since the prosecution had conducted a long-term investigation and indictment was expected, the referral was approved by a majority vote."

The meeting, held from 2 p.m. to 5:40 p.m. in the small conference room on the 13th floor of the Seoul Central District Prosecutors' Office in Seocho-dong, Seoul, concluded at 5:40 p.m.

All 15 committee members attended the meeting, and the chairperson of the prosecution citizen committee at the Central District Prosecutors' Office, an ex officio member, served as the chair of the Sub-Referral Committee, the prosecution reported.

The members were selected by random draw from a wide age range, from their 20s to their 70s. Their occupations were also diverse, including housewives, teachers, office workers, doctors, graduate students, self-employed individuals, and retired public officials.

Earlier, Vice Chairman Lee and former Samsung Future Strategy Office Strategy Team Leader Kim Jong-jung (64), along with Samsung C&T, applied to the Seoul Central District Prosecutors' Office prosecution citizen committee on the 3rd to convene the Investigation Deliberation Committee, requesting a review of the validity of the indictment. It is known that Choi Ji-sung (69), former head of the Future Strategy Office, who recently had an arrest warrant requested alongside Vice Chairman Lee, did not apply for the convening of the Investigation Deliberation Committee.

The committee members held a closed meeting based on 120 pages of written opinions submitted by three representatives from Samsung and the prosecution, each submitting 30 pages, before deciding whether to refer the case to the Investigation Deliberation Committee.

With the referral to the Investigation Deliberation Committee approved, the Sub-Referral Committee will send a request to convene the Investigation Deliberation Committee to Prosecutor General Yoon Seok-youl through the Supreme Prosecutors' Office Policy Planning Division, and Prosecutor General Yoon is required to convene the Investigation Deliberation Committee.

The prosecution emphasized in their written opinion that there was no need to convene the Investigation Deliberation Committee to decide on indictment.

The side of Vice Chairman Lee highlighted in their written opinion that this case falls under the scope of the Investigation Deliberation Committee's review.

Immediately after the Sub-Referral Committee's decision was made public, the prosecution stated, "We respect the decision of the Sub-Referral Committee," and added, "We will proceed with the investigation in accordance with laws and principles and ensure thoroughness in the procedures of the Prosecution Investigation Deliberation Committee."

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