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South Korea court expected to announce its ruling on Samsung inheritance battle

South Korea court expected to announce its ruling on Samsung inheritance battle | iNFOnews.ca
AppleMark

SEOUL, South Korea – A South Korean court is expected to rule Friday on an inheritance battle that has rocked the powerful Samsung conglomerate.

Lee Kun-hee, chairman of Samsung Electronics Co., which is the conglomerate’s flagship company, is facing off against his older brother and other relatives who all want a bigger piece of the Samsung cake.

The court’s decision might upset a dynastic succession in Samsung’s leadership as it could result in the unraveling of a cross-shareholding structure that allows Lee, who is South Korea’s richest person, to control the group as a minority shareholder.

Late last year, Lee’s only son Jay Y. Lee was promoted to vice chairman of Samsung Electronics, putting the 44-year-old closer to the top leadership position at the world’s largest maker of memory chips, smartphones and TVs.

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