Vice Chairman Lee Jae-yong's Trial on 'Management Succession Allegations' to Resume on the 11th of Next Month
[Asia Economy Reporter Seongpil Cho] The trial concerning the allegations of management succession involving Samsung Electronics Vice Chairman Lee Jae-yong, which was postponed due to the COVID-19 pandemic, will resume next month.
According to the legal community on the 24th, the Criminal Division 25-2 of the Seoul Central District Court (Presiding Judge Park Jeong-je) has scheduled the second preparatory hearing for Vice Chairman Lee on the 11th of next month. This will be the first trial since two members of the panel were changed following the court's regular personnel reshuffle on the 22nd. Unlike formal trials, defendants are not required to attend preparatory hearings in person.
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The court initially set the preparatory hearing for the 14th of last month but postponed it considering the spread of COVID-19. Vice Chairman Lee and 11 Samsung Group affiliates were indicted last September on charges including unfair trading practices and market manipulation under the Capital Markets Act, as well as breach of fiduciary duty. The prosecution alleges that the 2015 merger between Samsung C&T and Cheil Industries was orchestrated by Samsung Group’s Future Strategy Office to facilitate Lee’s management succession.
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