South Korea court denies arrest warrant request for Samsung heir News
© WikiMedia (Oskar Alexanderson)
South Korea court denies arrest warrant request for Samsung heir

The Seoul Central District Court on Monday denied an arrest warrant request for Samsung Group heir Jae Y. Lee.

Allegations submitted by prosecutors included accounting fraud and stock manipulation relating to the alleged role of Lee in the 2017 political scandal in South Korea and the controversial merger of C&T and Cheil Industries in 2015. The prosecution claimed that the move allowed Lee to gain greater control of the group, but Lee denied these allegations, stating that it would be “beyond common sense” for him to be involved in decision making that would amount to stock manipulation.

The South Korea court rejected the arrest warrant request for Lee and two other former executives of the Samsung group, stating that there was an “insufficient explanation of the need” to place Lee in custody. Prosecutors for the case have stated they will continue investigation before reapplying for an arrest warrant.

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