Arrest warrant requested for Samsung's Lee Jae-yong
- 4 years ago
'한달새 20조 투자도 무색'... '뉴 삼성' 시작전에 위기맞나
Earlier this week, Samsung once again announced its 16-billion U.S. dollar investment in semiconductors.
However, the group could take a huge hit after prosecutors request an arrest warrant for the conglomerate's de facto head, Lee Jae-yong.
Kim Sung-min reports. Recent developments in the investigation of Samsung Group heir and vice-chairman Lee Jae-yong are throwing the running of the conglomerate into uncertainty.
Prosecutors requested an arrest warrant for Lee and two of his key aides on Thursday over the controversial 2015 merger between two Samsung affiliates...Samsung C&T and Cheil Industries.
The prosecutors accuse Lee of illegal trading, market price manipulation, and accounting fraud at Cheil affiliate Samsung BioLogics under an act on external audit of corporation.
This comes just two days after Lee requested an outside review of the investigation and possible indictment... based on prosecution reforms introduced in 2018.
The prosecution's move comes less than a month after Samsung announced a 16-billion U.S. dollar investment in semiconductors.
Earlier in May and June, Samsung released its plans to build new manufacturing lines for System Semiconductors and Memory Semiconductors in Pyeongtaek.
Samsung's massive investment plans come as the global semiconductor industry is in a downturn, with other chipmakers forecasting poor sales in the second quarter.
Now, many analysts are eyeing for Samsung's second quarter earnings, which come out next month, after its relatively successful first quarter results.
Since 2016, Samsung's management has been in hot water over a series of fraud and corruption cases, with many of these linked to the former Park Geun-hye administration.
As well as Lee, more than 100 Samsung executives have been summoned for investigations over those cases.
While Samsung group seemed to have turned a corner after Lee's apology to the public last month and his ambition to create a "new Samsung", the current investigation could leave the company with a management vacuum.
The hearing for the case will be held on Monday to decide whether to issue arrest warrants for Lee.
And that decision will likely be out late that night or early Tuesday.
Kim Sung-min, Arirang News
Earlier this week, Samsung once again announced its 16-billion U.S. dollar investment in semiconductors.
However, the group could take a huge hit after prosecutors request an arrest warrant for the conglomerate's de facto head, Lee Jae-yong.
Kim Sung-min reports. Recent developments in the investigation of Samsung Group heir and vice-chairman Lee Jae-yong are throwing the running of the conglomerate into uncertainty.
Prosecutors requested an arrest warrant for Lee and two of his key aides on Thursday over the controversial 2015 merger between two Samsung affiliates...Samsung C&T and Cheil Industries.
The prosecutors accuse Lee of illegal trading, market price manipulation, and accounting fraud at Cheil affiliate Samsung BioLogics under an act on external audit of corporation.
This comes just two days after Lee requested an outside review of the investigation and possible indictment... based on prosecution reforms introduced in 2018.
The prosecution's move comes less than a month after Samsung announced a 16-billion U.S. dollar investment in semiconductors.
Earlier in May and June, Samsung released its plans to build new manufacturing lines for System Semiconductors and Memory Semiconductors in Pyeongtaek.
Samsung's massive investment plans come as the global semiconductor industry is in a downturn, with other chipmakers forecasting poor sales in the second quarter.
Now, many analysts are eyeing for Samsung's second quarter earnings, which come out next month, after its relatively successful first quarter results.
Since 2016, Samsung's management has been in hot water over a series of fraud and corruption cases, with many of these linked to the former Park Geun-hye administration.
As well as Lee, more than 100 Samsung executives have been summoned for investigations over those cases.
While Samsung group seemed to have turned a corner after Lee's apology to the public last month and his ambition to create a "new Samsung", the current investigation could leave the company with a management vacuum.
The hearing for the case will be held on Monday to decide whether to issue arrest warrants for Lee.
And that decision will likely be out late that night or early Tuesday.
Kim Sung-min, Arirang News