Samsung Electronics Chairman Jay Y. Lee has been cleared of accounting fraud and stock manipulation by South Korea’s top court, removing a long-standing legal risk. The ruling allows Lee to focus on Samsung’s AI chip development. The Supreme Court’s decision was expected and boosts Samsung’s stock by 3.1%.

Lee, facing legal challenges for nearly a decade, now has the opportunity to lead Samsung without legal uncertainties. Business lobby groups see the court’s decision as beneficial for the South Korean economy, especially in the face of global competition in high-tech industries. Samsung’s role in innovation and job creation is crucial for economic rebound.

Lee, who was previously pardoned for bribery charges, must now navigate tightening control over Samsung while reviving its semiconductor business. The conglomerate’s projected 56% profit plunge raises concerns, but analysts expect Lee to defend core businesses and seek new growth engines. The future of Samsung under Lee’s leadership remains a critical focus.

Read more at Yahoo Finance: South Korea’s top court clears Samsung Chairman Lee in 2015 merger fraud case