Samsung Heir Tried In Seoul Court, Asked To 'Humbly Accept' Results

A trial involving Samsung (KRX: 005930) heir Lee Jae-yong has started on Friday, Oct. 25, in Seoul. Lee has been charged with bribery and embezzlement.

What Happened

Lee is being tried at the Seoul High Court after the country’s highest court overturned a lower court decision and ordered a retrial.

The 51-year-old businessman is facing charges of bribing former South Korean President Park Geun-hye, in exchange for political favors.

According to the prosecutors of the case, Lee donated around $35 million (41 billion won) to non-profit organizations operated by Park’s friend Choi Soon-sil to win the government’s support for a restructuring within Samsung that would strengthen Lee’s over the company. 

Jay Y. Lee was already found guilty in 2017 but walked free with sentence suspension after winning the appeal.

What’s Next

During Friday’s hearing, the judge has asked Lee to “humbly accept” any verdict of the trial.

"Please take this trial with an attitude to humbly accept whatever [the] results of the trial will be,” Jung Joon-young, the presiding judge, told Lee at the end of the 40-minute long hearing, Reuters reported on Friday.

"Please do what you need to do and can do even during the trial period as the leader of the corporation,” the judge added.

The verdict is unlikely to come until next year, a lawyer familiar with the matter told Reuters.

Samsung’s market movements remained unaffected by the anticipation over the trial, closed with 0.39% gain.