Prosecutors: "Respect the Decision of the Bu's Review Committee, Will Proceed with Investigation According to Law and Principles"

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 accounting fraud allegations involving 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 prosecution stated that while ensuring thorough procedures for the Investigation Deliberation Committee, it will continue the investigation in accordance with law and principles.

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

It added, "Although opinions were presented and discussed that referral was unnecessary 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, was attended by all 15 members, with the ex officio chairman of the Central District Prosecutors' Office citizen committee serving as the chair of the Referral Committee, according to the prosecution. It was reported that opinions were sharply divided among the members regarding referral to the Investigation Deliberation Committee, and the vote to refer barely exceeded the majority.

The members were selected by random draw from a wide age range spanning from their 20s to 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 on the 3rd to the Seoul Central District Prosecutors' Office citizen committee for convening the Investigation Deliberation Committee, requesting a review of the validity of 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 convening the Investigation Deliberation Committee.

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

Following the approval of referral to the Investigation Deliberation Committee, the Referral Committee will send a request for convening 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 committee.

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

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

Immediately after the Referral Committee’s decision was made public, the prosecution stated, "We respect the decision of the Referral Committee," and added, "We will proceed with the investigation in accordance with law and principles while ensuring thorough procedures for the Prosecution Investigation Deliberation Committee."

The Samsung legal team expressed gratitude for the Referral Committee’s decision, stating, "We appreciate the decision reflecting the will of the public in the investigation process," and added, "We will do our best to prepare for the upcoming hearings of the Prosecution Investigation Deliberation Committee."

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