Seoul: South Korea’s business community on Thursday welcomed the Supreme Court’s acquittal of Samsung Electronics Co. Chairman Lee Jae-yong in a long-running case involving the merger of company affiliates, calling it an outcome that will positively impact the economy. Earlier in the day, the top court upheld lower court verdicts that found Lee not guilty of charges related to the controversial merger of two Samsung affiliates, Cheil Industries Inc. and Samsung C and T Corp., in 2015.

According to Yonhap News Agency, the outcome cleared a major legal challenge that had weighed down South Korea’s largest conglomerate for years. “In an era of intensifying global competition in advanced industries, the removal of legal uncertainties surrounding a key company like Samsung is expected to have a positive ripple effect not only on the firm but on the broader Korean economy,” said Kang Seok-koo, head of the research division at the Korea Chamber of Commerce and Industries.

The Korea Enterprises Federation also stressed the significance of the ruling. “With the global race in artificial intelligence (AI) and semiconductors heating up, and mounting challenges from U.S. tariffs and prolonged low growth, the role of Samsung Electronics as Korea’s flagship company is more important than ever,” federation spokesperson Lee Sang-cheol said.

The sentiment was echoed by the Federation of Korean Industries (FKI), another major business lobby. “We welcome the Supreme Court’s decision and expect it to mark a turning point for Samsung in its pursuit of advanced technologies,” said Lee Sang-ho, head of the FKI’s economic and industrial division, while urging the government and the National Assembly to actively support companies through bold reforms and rational policies.