Seoul Prosecutors to Appeal Acquittal of Samsung Chairman Lee Jae-yong

SEOUL — In a recent development, prosecutors have declared their intention to challenge the acquittal of Samsung Electronics Co. Chairman Lee Jae-yong by the Seoul Central District Court. The court's verdict, delivered on Monday, found Lee not guilty of allegations related to market irregularities and other charges concerning the 2015 merger of Cheil Industries Inc. and Samsung C&T Corp.

According to Yonhap News Agency, This merger is pivotal to Lee's succession plan within the conglomerate, especially after his father, Lee Kun-hee, suffered a heart attack in the preceding year. Despite the prosecution's request for a five-year prison term for Lee, citing the merger's role in consolidating his control over the conglomerate at a reduced cost, the court's decision was not in their favor. A prosecution official expressed reservations about the court's ruling, highlighting discrepancies between the prosecution's arguments and the court's judgment. The official mentioned that the prosecution would decide on an appeal after thoroughly reviewing the court's reasoning compared to its own. The deadline for filing an appeal is next Tuesday, according to the prosecution.

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