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Seoul Central District Court rejects arrest warrant for Samsung chief Lee Jae-yong

이재용 영장 기각...불확실성 그늘 속 '첩첩산중'<br /><br />Samsung's de facto leader, Lee Jae-yong, avoided a second stint in jail when a Seoul district court denied an arrest warrant for financial fraud in a 2015 intra-conglomerate merger.<br />But, that doesn't mean the billionaire scion is now in the clear.<br />Kim Dami has the details.<br />Samsung Group heir Lee Jae-yong has avoided a return to jail.<br />A South Korean court Tuesday denied an arrest warrant for Lee on the grounds that there was not sufficient probable cause for his arrest.<br />The de facto leader has been embroiled in a legal battle over his alleged role in bribery and fraud during a corporate merger in 2015.<br />While the company has avoided worst case scenario, it is now left with great uncertainties.<br />"The court didn't feel the NEED to arrest him so it doesn't mean that his charges are called off. It's highly possible that he'll be found guilty in the future."<br />Prosecutors could still indict Lee after collecting further evidence. But, it's the billionaire business tycoon's own ambitions that may be putting the company at risk.<br />"His repeated 'owner risk', the misconduct of conglomerate owners, continues to be a threat to the company's stock prices and its future."<br />To make matters worse, Lee is also dealing with an old bribery case that has been ordered to be retried by the Supreme Court.<br />As prosecutors expressed much disappointment with the court's latest ruling, Samsung now pins its hopes on a citizen panel.<br />The company last week requested an establishment of a panel of citizens to judge if the latest investigation is even necessary.<br />In the meantime, Lee is expected to concentrate all efforts on improving his company's image.<br />"We will create the 'New Samsung' that suits South Korea's national dignity."<br />While the fate of the giant company relies heavily on its leader's legal fight, Samsung will now speed up its preparations for the future by regaining public trust.<br />Kim Dami, Arirang News.<br />

Seoul Central District Court rejects arrest warrant for Samsung chief Lee Jae-yong

이재용 영장 기각…법원 "구속 필요성 소명 부족"<br /><br />Samsung Group's heir Lee Jae-yong has avoided being sent to a jail cell after the Seoul Central District Court refused the prosecution's request to issue an arrest warrant for him over allegations related to his succession plans.<br />Kim Bo-kyoung reports.<br />After a marathon court hearing,... the top executive at Samsung Electronics, Lee Jae-yong, was able to walk out of Seoul Detention Center, located south of the capital at 2:40 AM, Korea time, on Tuesday after the court refused to issue an arrest warrant for him.<br />The court said it couldn't find sufficient probable cause to arrest the billionaire business tycoon over allegations related to the controversial 2015 merger of two Samsung affiliates.<br />Two former Samsung executives who were brought in with Lee,... Choi Gee-sung and Kim Jong-joong from the group's now-deactivated control tower, the Future Strategy Office, were also released.<br />The prosecution said it was disappointed with the court's ruling.<br />They are expected to review the reasons behind their failure to convince the court to issue the warrant.<br />They'll decide whether to request an another arrest warrant for Lee,... but it's expected to be tough as it has already been denied by the court.<br />The refusal to issue an arrest warrant affects an external committee's decision as well.<br />Lee previously requested the establishment of a citizen panel around a week ago,... before prosecutors asked for the arrest warrant,... to judge if the investigation regarding his charges is even necessary.<br />Although he managed to avoid arrest this time,... some experts say it's time for Lee to overcome his repeated 'owner risk' namely the misconduct of conglomerate owners that pose a threat to the company's stock prices, profits and its future plans to fulfill his personal ambitions.<br />Prosecutors could still indict Lee after collecting more evidence and convict him through trials.<br />Making matters worse,... Lee is still dealing with an old bribery case ordered to be retried by the Supreme Court.<br />For Lee to create a "New Samsung" like he mentioned in his rare public apology last month and fulfill his ambitions of making Samsung the world's No. 1 system semiconductor maker by 2030,... it seems Lee needs to first overcome his legal problems before that can become a reality.<br />Kim Bo-kyoung, Arirang News.<br />

Former president Park to appear for warrant hearing at the Seoul Central District Court Thursday