Latest news with #SamsungCT
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
South Korea's Supreme Court Upholds Acquittal Ruling on Samsung Chairman
South Korea's Supreme Court on Thursday upheld the lower courts' acquittal ruling on Samsung 005930 3.09%increase; green up pointing triangle Electronics Chairman Lee Jae-yong to clear him of criminal charges linked to a company merger a decade ago, ending the lengthy legal case weighing on the tech giant. The top court finalized the previous not-guilty verdicts by the district and high courts, which had acquitted Lee on multiple criminal charges, including alleged accounting fraud and stock manipulation, regarding the merger of Samsung C&T 028260 -0.17%decrease; red down pointing triangle and Cheil Industries in 2015, according to court officials and Samsung Electronics.
Yahoo
6 days ago
- Business
- Yahoo
South Korea's top court clears Samsung chairman Lee
South Korea's top court has upheld a not guilty verdict for the chairman of Samsung Electronics Jay Y Lee, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $US8 billion ($A12 billion) merger in 2015. The Supreme Court's verdict on Thursday permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips. The Supreme Court upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant. A lower court last year had also cleared Lee of the charges. Samsung's lawyers said they were "sincerely grateful" to the court for its decision and added in a statement that the ruling confirmed that the merger was legal. Samsung Electronics shares were little changed after the ruling, up 1.7 per cent. The Supreme Court ruling was widely expected, but comes at a critical moment for Lee, who has faced mounting questions about his ability to lead Samsung Electronics - the world's top memory chip and smartphone maker - as it grapples with growing competition and playing catch-up in artificial intelligence chips. For nearly a decade, Lee has faced legal challenges, including those from the merger that paved the way for his succession after his father, Lee Kun-hee, had a heart attack in 2014 that left him in a coma.
Yahoo
6 days ago
- Business
- Yahoo
South Korea's top court clears Samsung Chairman Lee in 2015 merger case, Yonhap says
SEOUL (Reuters) -South Korea's top court upheld on Thursday a not guilty verdict for the chairman of Samsung Electronics Jay Y. Lee, Yonhap News Agency said, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $8 billion merger in 2015. The Supreme Court's verdict permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips. The Supreme Court upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant. A lower court last year had also cleared Lee of the charges. The Supreme Court ruling was widely expected, but comes at a critical moment for Lee, who has faced mounting questions about his ability to lead Samsung Electronics - the world's top memory chip and smartphone maker - as it grapples with growing competition and playing catch-up in artificial intelligence chips. For nearly a decade, Lee has faced legal challenges, including those from the merger that paved the way for his succession after his father, Lee Kun-hee, had a heart attack in 2014 that left him in a coma.
Reuters
6 days ago
- Business
- Reuters
South Korea's top court clears Samsung Chairman Lee in 2015 merger case, Yonhap says
SEOUL, July 17 (Reuters) - South Korea's top court upheld on Thursday a not guilty verdict for the chairman of Samsung Electronics ( opens new tab Jay Y. Lee, Yonhap News Agency said, backing two lower court rulings clearing him of accounting fraud and stock manipulation related to an $8 billion merger in 2015. The Supreme Court's verdict permanently removes a long-running legal distraction for Lee as Samsung plays catch-up in a global race to develop cutting-edge AI chips. The Supreme Court upheld an appeals court's ruling dismissing all the charges in the case involving the merger a decade ago between two Samsung affiliates, Samsung C&T ( opens new tab and Cheil Industries, which prosecutors said was designed to cement Lee's control of the tech giant. A lower court last year had also cleared Lee of the charges. The Supreme Court ruling was widely expected, but comes at a critical moment for Lee, who has faced mounting questions about his ability to lead Samsung Electronics - the world's top memory chip and smartphone maker - as it grapples with growing competition and playing catch-up in artificial intelligence chips. For nearly a decade, Lee has faced legal challenges, including those from the merger that paved the way for his succession after his father, Lee Kun-hee, had a heart attack in 2014 that left him in a coma.
Zawya
04-06-2025
- Business
- Zawya
UAE: Trojan, Samsung start work on 1,000MW Al Dhafra power plant
Abu Dhabi-based Trojan General Contracting has announced that along with Samsung C&T it has officially kicked off site activities for a major open-cycle gas turbine (OCGT) power generation plant in the Al Dhafra region of Abu Dhabi. Once operational, the Al-Dhafra OCGT project will have a generation capacity of 1,000 megawatts (MW), supporting the growing energy demands of the UAE. The project aligns with the UAE government's forward-looking Artificial Intelligence (AI) strategy, with Emirates Water and Electricity Company (EWEC) partnering with both Taqa and Abu Dhabi Future Energy Company (Masdar) on initiatives to integrate advanced energy technologies. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
