China News Service, June 8th, according to Korean media reports, on the 8th local time, Samsung Electronics Vice Chairman Li Zairong, former Samsung Future Strategy Room Director Cui Zhicheng and strategy team leader Jin Zhongzhong appeared in court to receive the necessary review of the arrest. It is expected that the review results will be released as soon as possible that night.
Data Map: Samsung Electronics Vice President Li Zairong.
According to reports, the prosecutor believes that Samsung's upswing in the share price of First Woolen has caused the share price of Samsung Products to fall, creating a favourable environment for Li Zairong, who holds 23.2% of the share of First Woolen. After the decision of the merger of First Wool and Samsung Products, Samsung manipulated the stock prices of the two companies, and this series of processes were approved by Li Zairong.
In this regard, Samsung said that it never intentionally manipulated the company's stock price, and Li Zairong had never received relevant reports.
Allegedly, the hearing is expected to last for several hours, the court may make a ruling on the evening of the 8th or early morning of the 9th.
Earlier, Lee Jae-yong was suspended for involvement in the incident of former Korean President Park Geun-hye's "confidential administration", but in 2019 the South Korean Supreme Court demanded a retrial of the case. Recently, due to controversy related to the involvement of Samsung Group executives in the inheritance issue, Li Zairong once apologized to all citizens in May.