Latest news with #chaebols
Bloomberg
5 days ago
- Business
- Bloomberg
Global Money Chases World's Hottest Major Stock Market in Korea
South Korean stocks, already this year's best performers among the world's major markets, are becoming a magnet for foreign investors as bold regulatory reforms to lift valuations and empower minority shareholders gain traction. Just this month, policymakers voted in favor of pivotal law changes to make board members legally accountable to all shareholders. They are now focusing on the next wave of reforms — including improvements to the voting system for selection of board members, and reducing treasury stock holdings — all with the goal of reining in the nation's many family-run conglomerates, or chaebols.
Yahoo
17-07-2025
- Business
- Yahoo
Samsung boss cleared of fraud by South Korea's top court
Samsung boss Lee Jae-yong has been cleared of fraud charges, concluding a decade-long legal battle over his role in a 2015 merger deal. Lee, the grandson of Samsung's founder and the de facto head of the company since 2014, had been accused of using stock and accounting fraud to try to gain control of the firm. In its final verdict, the South Korean Supreme Court upheld a not guilty verdict, after Lee was acquitted of all charges in two earlier trials. The case drew widespread scrutiny of the technology giant, as the country grapples with corporate corruption scandals involving its powerful family-run conglomerates known as chaebols. "Today, the Supreme Court has clearly confirmed through its final ruling that the merger of Samsung C&T and the accounting treatment of Samsung Biologics were lawful," said Samsung's lawyers on Thursday. "We sincerely thank the court for its wise judgment following a thorough five-year trial process." Lee faced allegations of fraud in the wake of a merger that led to his succession as Samsung's boss, after his father Lee Kun-hee suffered a heart attack and was left in a coma in 2014. In 2024, a district court cleared Lee of all charges linked to the merger worth around $8bn (£5.97bn) between two of its subsidiary companies. Lee was cleared again after prosecutors appealed the case in the High Court. Legal battles over the past decade have added to Samsung's troubles as it struggles with intensifying competition and underwhelming stock market performance.
Yahoo
17-07-2025
- Business
- Yahoo
Samsung boss cleared by Supreme Court over fraud case
Samsung boss Lee Jae-yong has been cleared of fraud charges, concluding a decade-long legal battle over his role in a 2015 merger deal. Lee, the grandson of Samsung's founder and the de facto head of the company since 2014, had been accused of using stock and accounting fraud to try and gain control of the firm. In its final verdict, the South Korean Supreme Court upheld a not guilty verdict, after Lee was acquitted of all charges in two earlier trials. The case drew widespread scrutiny of the technology giant, as the country grapples with corporate corruption scandals involving its powerful family-run conglomerates known as chaebols.
BBC News
17-07-2025
- Business
- BBC News
Lee Jae-yong: Samsung boss cleared over corruption case
Samsung boss Lee Jae-yong has been cleared of corruption charges, concluding a decade-long legal battle over his role in a 2015 merger the grandson of Samsung's founder and the de facto head of the company since 2014, had been accused of using stock and accounting fraud to try and gain control of the its final verdict, the South Korean Supreme Court upheld a not guilty verdict, after Lee was acquitted of all charges in two earlier case drew widespread scrutiny of the technology giant, as the country grapples with corporate corruption scandals involving its powerful family-run conglomerates known as chaebols.
Bloomberg
13-06-2025
- Business
- Bloomberg
South Korea's Lee to Meet Chaebol Heads in Bid to Revive Economy
South Korean President Lee Jae-myung will meet the heads of the country's biggest conglomerates Friday, as he seeks to jumpstart a flagging economy while navigating tensions over his reform agenda aimed at curbing the dominance that chaebols wield over the corporate landscape. The meeting is scheduled for 10:00 a.m. Seoul time at Lee's office and will include the chiefs of Samsung Group, SK Group, Hyundai Motor Group., LG Group, and Lotte Group, according to a statement from the presidential office. Local media reported that Lee would seek cooperation from chaebols.
