ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Samsung chief Lee charged with stock market manipulation

Group's heir accused of inflating companies' value in bid to smooth succession

Samsung Group heir Lee Jae-yong, seen here outside a Seoul court in June, has been indicted on charges of stock market manipulation and breach of trust.   © Reuters

SEOUL -- Samsung Electronics Vice Chairman Lee Jae-yong was indicted on Tuesday on charges of stock market manipulation and breach of trust that allegedly took place five years ago. The charges cast a cloud over the leadership of the world's largest smartphone maker as it attempts to navigate geopolitical tensions and a pandemic.

The prosecution said the 52-year-old heir to the Samsung business empire was involved in manipulating stock prices of Samsung C&T and Cheil Industries when the two companies merged in 2015.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more