Samsung Chairman Lee Jae‑yong Acquitted, Capping Decade‑Long Legal Saga
Updated (2 articles)
First Naval Academy Established to Counter Foreign Warships The Joseon royal authorities founded Korea’s first naval academy on Ganghwa Island in 1893 to counter frequent foreign warships. They hired a British officer to guide the curriculum and training. The institution operated only a few years before Japan’s colonial expansion forced its closure, ending sovereign military education. [1]
1992 Joint Declaration Aimed at Peninsula Denuclearization North Korea ratified the South‑North Joint Declaration on the Denuclearization of the Korean Peninsula in 1992, marking a formal commitment to keep the peninsula free of nuclear weapons. The pact signaled a rare moment of cooperation between the two states amid broader tensions. It remains a reference point in inter‑Korean diplomatic history. [1]
1999 Bilateral Fisheries Accord Sought to Reduce Disputes Working‑level officials from South Korea and Japan concluded a fisheries accord in 1999 to manage shared marine resources. The agreement aimed to reduce disputes over fishing rights and establish joint monitoring mechanisms. It represented a pragmatic step toward stabilizing bilateral relations despite lingering historical grievances. [1]
2003 Kumgang Tourist Route Opened, 2014 Family Reunions Followed In 2003 Hyundai Asan Chairman Chung Mong‑hun crossed into North Korea via an overland route to the Mount Kumgang resort, launching the first South‑Korean‑led tourist venture to the scenic area. The initiative paved the way for humanitarian exchanges, culminating in a series of family reunions scheduled at Mount Kumgang from Feb. 20‑25, 2014, the first since October 2010. Both events highlighted intermittent dialogue despite broader political stalemate. [1]
2024 Court Acquits Samsung Chairman in Merger Case The Seoul Central District Court acquitted Samsung Electronics Chairman Lee Jae‑yong in 2024 regarding the controversial 2015 merger of Cheil Industries and Samsung C&T. The ruling concluded a legal saga that began with his 2018 suspended sentence in a bribery scandal. The acquittal restores Lee’s full leadership authority within Samsung Group. [1]
Timeline
1893 – Joseon Dynasty launches Korea’s first naval academy on Ganghwa Island, hires a British officer to guide training, and later closes the school as Japan moves to colonize Korea, ending sovereign military education [1].
1948 – The United Nations General Assembly recognizes the Republic of Korea as the legal government of Korea, establishing South Korea’s international legitimacy [2].
1979 – Army Maj. Gen. Chun Doo‑hwan stages a coup against President Choi Kyu‑ha, orders the arrest of Army Chief of Staff Gen. Jeong Seung‑hwa, and alleges Jeong’s involvement in President Park Chung‑hee’s assassination [2].
1992 – North Korea ratifies the South‑North Joint Declaration on the Denuclearization of the Korean Peninsula, pledging to keep the peninsula free of nuclear weapons and signaling inter‑Korean cooperation [1].
1995 – The Korean Peninsula Energy Development Organization (KEDO) reaches an agreement with Pyongyang on the terms of a light‑water reactor project, marking a major diplomatic effort to address North Korea’s nuclear program [2].
1999 – Working‑level officials from South Korea and Japan conclude a bilateral fisheries accord to manage shared marine resources and reduce disputes over fishing rights [1].
2003 – Hyundai Asan Chairman Chung Mong‑hun crosses into North Korea via an overland route to the Mount Kumgang resort, opening the first South Korean‑led tourist venture to the scenic area [1].
2011 – A South Korean Coast Guard commando is killed and another wounded when Chinese sailors, caught fishing illegally in the Yellow Sea off Incheon, stab them, highlighting tensions over maritime enforcement [2].
Feb 20‑25, 2014 – South and North Korea schedule family reunions at Mount Kumgang, the first such meeting since October 2010, underscoring ongoing humanitarian dialogue [1].
2018 – South and North Korea complete a day‑long verification of guard‑post withdrawals from the Demilitarized Zone, advancing a broader accord to reduce military tensions [2].
2024 – Seoul Central District Court acquits Samsung Electronics Chairman Lee Jae‑yong in the 2015 Cheil‑Samsung C&T merger case, concluding a legal saga that began with his 2018 suspended sentence for bribery [1].
2024 – The Supreme Court finalizes a two‑year prison term for former Justice Minister Cho Kuk, convicting him of academic fraud involving his children and unlawful interference with a government inspection [2].