South Korean court rejects arrest warrant for Samsung vice chairman Lee Jae-yong

Business

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It has been a particularly tough day for Samsung vice chairman Lee Jae-yong. The South Korean prosecutor's office sought a warrant for his arrest on Monday in connection with the influence-peddling scandal. A court was to rule on whether or not a warrant should be issued for his arrest. Lee Jae-yong was questioned during the hearing today and transferred to a detention center where he had to stay until the ruling was handed down.

The Samsung leader and indeed the company can now breathe a sigh of relief as the Seoul Central District Court has rejected the arrest warrant request. The court finds that he's not a flight risk and thus there's no need to detain him even though the investigation is still ongoing. Lee Jae-yong has already been barred from leaving the country so it's not like he's going anywhere. He was released from the detention center immediately after the court made its decision.

The investigation will continue but the Samsung vice chairman will remain a free man, for now. At least the company can now rest easy knowing that it's not going to face an immediate leadership vacuum.

Adnan Farooqui - Executive Editor

[email protected]

First Samsung device: SGH-E900

Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.

Via Business Lee Jae-yong Samsung Electronics

lee jae-yong, executive chairman of samsung electronics

South Korean court rejects arrest warrant for Samsung vice chairman Lee Jae-yong

Adnan Farooqui - Executive Editor

[email protected]

First Samsung device: SGH-E900

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