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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung C&T Corporation    A028260   KR7028260008

SAMSUNG C&T CORPORATION

(A028260)
  Report
End-of-day quote. End-of-day quote Korea Stock Exchange - 11/26
122500 KRW   -0.81%
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Trial begins in Samsung leader Jay Y. Lee's suspected fraud, stock manipulation case

10/22/2020 | 02:27am EST
FILE PHOTO:  Samsung Group heir Jay Y. Lee arrives for a court hearing to review a detention warrant request against him at the Seoul Central District Court in Seoul

SEOUL (Reuters) - Samsung leader Jay Y. Lee's trial, in a case of suspected accounting fraud and stock price manipulation connected to a 2015 merger, began on Thursday as a Seoul court held its first hearing.

Lee and 10 other current and former Samsung executives were indicted by South Korean prosecutors last month over the merger of two Samsung affiliates that helped Lee assume greater control of the group's flagship Samsung Electronics.

Lee, 52, did not attend the preparatory hearing at the Seoul Central District Court.

Samsung group heir apparent and Samsung Electronics vice chairman Lee has already served jail time in connection with a separate case, and the latest proceedings raise legal risks for South Korea's biggest conglomerate, including the possibility that he may be jailed again.

Lee's attorney denied the allegations in court on Thursday, saying that the merger and the accounting process that the prosecutors have taken issue with were part of normal management activities.

The preparatory hearing on Thursday arranged trial schedules and other procedural matters, without going into legal arguments. The next preparatory hearing is expected to be held on January 14.

Lee was in Vietnam earlier this week to meet with Prime Minister Nguyen Xuan Phuc and discuss investments, according to Vietnamese state-run newspaper Nhan Dan.

Prosecutors wanted Lee arrested in connection with the case, but a Seoul court denied their request for a warrant in June.

According to a copy of the prosecutors' indictment document seen by Reuters, prosecutors allege Lee and others' involvement in the $8 billion merger of affiliates Samsung C&T and Cheil Industries included illegalities such as unfair transactions and market price manipulation that sought gain at the expense of minority investors.

Lee's attorneys, in an earlier statement, called the indictment "unjust" and a "one-sided argument by the investigation team not based on evidence and legal principles".

The separate case Lee is involved in concerns his role in a bribery scandal that triggered the impeachment of former South Korean President Park Geun-hye. That case too will have a hearing next week, according to the Seoul High Court.

(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)

By Joyce Lee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG BIOLOGICS CO.,LTD. -0.50% 799000 End-of-day quote.84.53%
SAMSUNG C&T CORPORATION -0.81% 122500 End-of-day quote.12.90%
SAMSUNG ELECTRONICS CO., LTD. 2.10% 68000 End-of-day quote.21.86%
All news about SAMSUNG C&T CORPORATION
11/12Samsung's key insurance affiliates pledge to halt coal investments
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10/28SAMSUNG C&T : Q3 2020 earnings
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10/25Lee Kun-hee, who made South Korea's Samsung a global powerhouse, dies at 78
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10/25FACTBOX : Samsung's Lee leaves behind $21 billion wealth for inheritance
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10/22Trial begins in Samsung leader Jay Y. Lee's suspected fraud, stock manipulati..
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09/03SAMSUNG C&T : Statement of defendants' counsel
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More news
Financials
Sales 2020 29 827 B 27,0 B 27,0 B
Net income 2020 1 137 B 1,03 B 1,03 B
Net Debt 2020 35,2 B 0,03 B 0,03 B
P/E ratio 2020 20,3x
Yield 2020 1,90%
Capitalization 20 198 B 18 249 M 18 279 M
EV / Sales 2020 677x
EV / Sales 2021 657x
Nbr of Employees -
Free-Float 44,5%
Chart SAMSUNG C&T CORPORATION
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Samsung C&T Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends SAMSUNG C&T CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Average target price 149 058,82 KRW
Last Close Price 122 500,00 KRW
Spread / Highest target 46,9%
Spread / Average Target 21,7%
Spread / Lowest Target -10,2%
EPS Revisions
Managers
NameTitle
Young-Ho Lee Co-President, Co-CEO & Director
Jung-Suk Koh Co-President, Co-CEO & Director
Keum-Yong Chung Co-CEO, Director & Vice President
Chi-Hun Choi Executive Chairman & President
Hyun-Soo Lee Independent Director
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