Lee Jae-yong Absent from Trial for 2 Weeks Due to Business Trip to the Netherlands

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] Samsung Electronics Vice Chairman Lee Jae-yong will not attend the trial for two weeks due to a business trip to the Netherlands.

The Seoul Central District Court Criminal Division 25-2 (Presiding Judges Park Jung-je, Park Sa-rang, Park Jung-gil) announced on the 2nd that the trial on charges of violating the Capital Markets Act against Vice Chairman Lee and others will proceed twice in the future with Lee absent.

At the trial that day, the court said that Vice Chairman Lee submitted a statement indicating that he would have difficulty attending the trial due to a business trip to the Netherlands from the 7th to the 18th, and asked for the prosecution's opinion. When the prosecution said "no objection," the court stated, "It is due to business necessity and the prosecution also agreed," and decided that Lee would be absent from the two scheduled trial dates during the business trip.

The prosecution indicted Vice Chairman Lee in September 2020, alleging that Samsung Group's Future Strategy Office spread false information to inflate the stock price of Cheil Industries and lower the stock price of Samsung C&T during the merger of Samsung C&T and Cheil Industries in 2015.

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