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Brother of Samsung chief calls for reconciliation

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Published : 2014-02-07 21:14
Updated : 2014-02-09 09:48

The elder brother of Samsung Electronics Chairman Lee Kun-hee called for reconciliation with the chairman, his law firm said Friday, a day after he lost an inheritance appeal.

Lee Maeng-hee said through Yoon & Yang LLC that he hopes to quickly open a dialogue channel with Samsung for reconciliation with South Korea's richest man.

He said his "sincerity to end the case with a heartfelt reconciliation remains unchanged," according to the law firm.

The move came a day after the Seoul High Court upheld a lower court decision allowing Lee Kun-hee to keep his holdings in key subsidiaries of Samsung Group.

Lee Maeng-hee, whose son controls food and media giant CJ Group, has demanded 940 billion won (US$850 million) in stakes in Samsung's units.

The court said Thursday that some of the stocks demanded by Lee Maeng-hee were left to him by late Samsung founder Lee Byung-chull.

Still, it said the 10-year statute of limitations on inheritance claims had already expired.

Meanwhile, a lawyer who represents Lee Kun-hee said family reconciliation is possible if sincerity is confirmed, though he questioned sincerity, citing the elder brother's call for reconciliation through the media. (Yonhap)