The Federation of Korean Industries said the verdict would help Samsung maLee, who has been the de facto head of Samsung since 2014 and is the grandson of the company's founder, was accused of using stock and accounting fraud to gain greater control of the business.
The Supreme Court confirmed the earlier not guilty verdict, following Lee's acquittal in two lower court trials.
The case attracted wide attention due to South Korea's ongoing struggles with corporate corruption, especially involving family-run conglomerates known as chaebols.
After the verdict, Samsung's lawyers stated, "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." They expressed gratitude after the conclusion of the five-year trial.
Years of Trials Over Samsung Merger Deal
Prosecutors had accused Lee of inflating the value of Samsung Biologics, his pharmaceutical company, through dishonest accounting methods.
This was said to have boosted his stake during the 2015 merger of two Samsung subsidiaries, securing his leadership position. The prosecution argued that the merger was aimed at transferring control from Lee's father, Lee Kun-hee, who had been incapacitated since 2014 and passed away in 2020.
Lee first faced legal trouble in 2017 when he was arrested for bribing an advisor to then-President Park Geun-hye. Over the years, Lee served brief jail terms, one of which was shortened by a special presidential pardon during the Covid-19 pandemic.
The government had stated that Lee's leadership was crucial for helping South Korea's economy recover after the pandemic.
In 2024, Lee was first cleared by a district court of all charges related to the merger, valued at around $8 billion. The High Court later upheld the verdict after prosecutors appealed, and now the Supreme Court has given the final ruling in his favor.
Challenges Continue for Samsung
The lengthy legal proceedings added to Samsung's difficulties as the tech giant faced growing market challenges. Samsung Electronics, a key division of the company, has experienced falling sales, especially in smartphones and computer chips.
Last year, Lee acknowledged the business struggles, saying, "The reality facing [Samsung] is harder than ever, but I will overcome and take a step forward."
