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4-Traders Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Electronics Co Ltd    005930   KR7005930003

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Samsung Electronics : South Korea court reassigns Samsung chief's case amid questions about judge's connections

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03/17/2017 | 08:37am CEST
The logo of Samsung Electronics is seen in front of its building in Seoul

A South Korean court said on Friday it has reassigned Samsung Group [SAGR.UL] chief Jay Y. Lee's bribery trial to another judge, following questions about the previous judge's connection to a woman Lee is accused of bribing.

A Seoul Central District Court spokesman said the case had been reassigned following a request from judge Lee Young-hoon, who presided over the March 9 pre-trial hearing for Jay Lee and four former and current Samsung Group executives in what has been dubbed by some as the "trial of the century".

The spokesman declined to comment on the reason for the reassignment.

But the decision comes a day after an opposition lawmaker accused Lee Young-hoon's father-in-law of being a financial sponsor for Choi Soon-sil, a confidant of former president Park Geun-hye and a central figure in the graft scandal that led to Park's removal from office and the Samsung chief's indictment.

Park was dismissed as president by the Constitutional Court on Friday last week and has been summoned by prosecution for questioning as a suspect in the graft investigation.

The special prosecution team that indicted the Samsung chief accused Park of colluding with Choi to pressure big businesses to contribute to non-profit foundations backing her administration's initiatives.

The court said in a statement to Reuters on Thursday that Lee Young-hoon's father-in-law had denied the allegations and had not met or contacted Choi or her family since the assassination of Park's father, former president Park Chung-hee, in 1979.

Legal representatives for Jay Y. Lee, vice chairman and director at Samsung Electronics Co Ltd, could not be immediately reached for comment, and Samsung Electronics declined to comment.

Jay Y. Lee was indicted on Feb. 28 by a special prosecution team on several charges including pledging 43 billion won ($38.03 million) in bribes to a company and foundations backed by Choi to curry favour, and a verdict is required within three months of the indictment.

Jay Y. Lee and Samsung have denied wrongdoing.

(Reporting by Se Young Lee and Joyce Lee; Editing by Robert Birsel and Nick Macfie)

By Se Young Lee and Joyce Lee

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Financials ( KRW)
Sales 2017 232 544 B
EBIT 2017 49 421 B
Net income 2017 36 892 B
Finance 2017 74 821 B
Yield 2017 1,43%
P/E ratio 2017 9,06
P/E ratio 2018 8,22
EV / Sales 2017 1,18x
EV / Sales 2018 1,01x
Capitalization 348 765 851 M
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Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 38
Average target price 2 762 906  KRW
Spread / Average Target 15%
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Managers
NameTitle
Boo-Keun Yoon Co-President, Co-CEO & Director
Jong-Kyun Shin Co-President, Co-CEO & Director
Oh-Hyun Kwon Chairman & Chief Executive Officer
Sang-Hoon Lee Co-President & Chief Financial Officer
Jae-Yong Lee Director & Vice Chairman-Executive Board
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