Judul : Editorial: Time for ‘New Samsung’ to move forward
link : Editorial: Time for ‘New Samsung’ to move forward
Editorial: Time for ‘New Samsung’ to move forward
Lee Jae-yong, executive chairman of Samsung Electronics, was acquitted on July 17 by South Korea’s Supreme Court in a high-profile case involving alleged accounting fraud at affiliate Samsung Biologics. The ruling brings an end to nearly a decade of legal uncertainty for Lee, who had been accused of manipulating the merger between Cheil Industries and Samsung C&T to cement control over Samsung Group.
The case originated with accusations from the civic group People’s Solidarity for Participatory Democracy and later became the focus of a probe by the Financial Services Commission. Prosecutors eventually charged Lee with 19 counts, including accounting fraud and stock price manipulation. But none were upheld in court — not a single one. With the ruling, Lee has finally shed all judicial risk stemming from the 2016 political scandal that has cast a long shadow over his leadership.
From the start, the investigation faced scrutiny. When prosecutors failed to find evidence of accounting fraud, they broadened the probe to include allegations of embezzlement and evidence tampering. The effort drew criticism for being both excessive and speculative. Courts denied multiple arrest warrants against Lee and other Samsung executives, citing lack of evidence. An external review panel, composed of independent experts, even advised prosecutors to halt the investigation and drop the charges entirely.
Prosecutors pressed ahead regardless. They expanded the investigative team and widened the scope — a move many viewed as a determination to secure a conviction at any cost. Even after Lee was acquitted on all counts in the initial trial, prosecutors filed an appeal, defying growing public sentiment to bring the matter to a close.
The investigation was led by Yoon Suk-yeol and Lee Bok-hyun. While Lee Bok-hyun issued a public apology after the ruling, it notably did not extend to Lee Jae-yong himself.
The toll on Samsung — and the South Korean economy — has been substantial. The disruption to management, uncertainty for investors, and reputational harm are difficult to quantify. Prosecutorial reform must begin by limiting overreach and misuse of investigative power. Meanwhile, proposed Democratic Party legislation to establish overlapping investigative bodies — such as the National Office of Investigation and the Corruption Investigation Office for High-ranking Officials — risks intensifying turf battles and incentivizing politically motivated probes.
With the legal cloud lifted, Lee now has a rare window to focus on Samsung’s long-term strategy and its “New Samsung” transformation. Over the past nine years, he appeared in court 185 times — 83 related to the presidential scandal, and 102 linked to the merger case — while Samsung, which accounts for more than 20% of South Korea’s exports, faced increasingly fierce global competition.
The timing could not be more critical. A technological arms race is accelerating in AI, semiconductors, and biotech. Rivals, often backed by their governments, are closing in. Samsung’s long-held lead in memory chips is under strain.
Now, Lee must deliver. He must present a coherent vision, execute bold investments, and restore confidence in Samsung’s innovative edge. As Lee once said, it’s a “matter of survival.” South Korea’s flagship conglomerate stands at a crossroads: leap forward or fall behind. The question many are asking — “Where is the Samsung we once knew?” — is no longer rhetorical.
To answer it, Samsung must reclaim its leadership in semiconductors and build momentum in new growth engines like AI, robotics, and biotech. The country needs its corporate champion not just to compete — but to lead.
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