Lee Jae-Yong Acquitted in Samsung Accounting Scandal Appeal

On February 3, 2025, Lee Jae-Yong, the Vice Chairman of Samsung Electronics, was acquitted of all charges related to the alleged accounting fraud known as the 'Samsung BioLogics (삼바) accounting scandal' during an appeal hearing at the Seoul High Court. The court ruled that the prosecution failed to provide sufficient evidence to support the 19 charges against him, which included market manipulation, breach of trust, and accounting fraud. This decision comes four years and five months after Lee was first indicted by prosecutors in September 2020.

Following the verdict, Lee's legal team expressed gratitude to the court for its wise judgment and hoped that he could now focus on his core responsibilities at Samsung. When asked if he had any message for shareholders or if he planned to return as a registered director at the upcoming shareholder meeting in March, Lee's lawyers stated that they had no further comments on management matters.

After the ruling, Lee left the courthouse without answering questions from reporters, heading straight to his waiting Genesis G90 vehicle. He maintained a serious expression and did not engage with the media as he departed.

The Seoul High Court's Criminal Division 13, presided over by Judge Baek Kang-Jin, upheld the first trial's decision, stating that the evidence presented by the prosecution was not adequate to prove the charges. Alongside Lee, ten other current and former Samsung executives, including Choi Ji-sung, former head of Samsung's Future Strategy Office, and Jang Chung-ki, former deputy head of the office, were also acquitted of all charges.