Lee Jae-yong, chairman of Samsung Electronics, has shaken off the 'legal risks' that have persisted for a decade since the merger of Samsung C&T and Cheil Industries, while the stock price of Samsung Electronics has exceeded 66,000 won for the first time in 10 months.
Samsung Electronics stocks were traded at 66,800 won on the KOSPI market at 2:35 p.m. on the 17th. The stock price increased by 3.25% (2,100 won) compared to the previous day. This marks the first time it has regained the 66,000 won level since September of last year.
Foreign investors have pushed up the stock price of Samsung Electronics as they began to 'buy.' Amid ongoing opinions that Samsung Electronics is relatively undervalued, NVIDIA's ability to resume sales of its artificial intelligence (AI) semiconductor chip 'H20' in China was seen as a positive factor. It is expected that Samsung Electronics can expand its HBM revenue as the H20 is equipped with 4th generation HBM (HBM3).
The resolution of the legal risks by Chairman Lee also seems to have stimulated investor sentiment. The Supreme Court's Third Division, led by Chief Justice Oh Seok-jun, acquitted Chairman Lee of 19 charges, including the illegal trading and price manipulation under the Capital Markets Act and business embezzlement, reaching the same conclusion as the first and second trials. This is the first time in a decade since the merger of Samsung C&T and Cheil Industries in 2015, and 4 years and 10 months since the case was brought to trial in September 2020.
It is pointed out that his return to the board and strengthening of responsible management are among the tasks ahead. Oh Il-seon, head of the Korea CXO Institute, noted, 'I believe Chairman Lee will first return to the board and focus on aggressive investments and mergers and acquisitions related to artificial intelligence (AI) to grow Samsung Electronics and the group's size.'