Ex-Samsung Executive Choi Questioned Over 2015 Merger

According to The Korea Herald, prosecution called in Choi Gee-sung, a former senior Samsung executive, on Tuesday, February 4, for its probe into suspicions surrounding Samsung Group’s controversial merger of two affiliates in 2015.

Choi, former head of Samsung’s now-disbanded strategy control tower, was questioned by prosecutors over his role in heir apparent Lee Jae-yong’s managerial succession process related to the merger of Samsung C&T Corp. and Cheil Industries.

The prosecution is looking into allegations that senior Samsung officials intentionally lowered the value of Samsung C&T prior to the merger to help Samsung Electronics Vice Chairman Lee enhance his control of the top conglomerate.

In a related move, the prosecution is investigating allegations that an account fraud at Samsung BioLogics was intentionally carried out to inflate the value of Cheil Industries ahead of the merger. The bio-health unit is an affiliate of Cheil Industries.

Full Content: Korea Herald

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