Lee Jae-Yong, the former head of Samsung Electronics, is facing charges announced by the South Korean prosecutor's office. He is accused of stealing data to be used in the construction of a factory in China, Reuters reports.
Lee Jae-Yong previously held the position of president at SK Hynix, a chip-making company. The prosecution alleges that during his tenure, he unlawfully acquired Samsung technology and attempted to establish a factory just 1.5km away from Samsung's chip manufacturing plant in Xi'an, China. However, the project faced financial disruptions and was ultimately unsuccessful.
In May, Lee Jae-Yong was arrested, and alongside him, six other individuals allegedly involved in the crime are also implicated in the case.
Prosecutors inform that the data theft has resulted in losses of at least $23mn for Samsung Electronics.
Several years ago Lee Jae-Yong was accused of bribery and imprisoned, but later, in 2022 he was freed and pardoned by then president of South Korea Yoon Suk Yeol. After that, he became the CEO of Samsung Electronics.
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