Samsung Electronics Chairman Lee Jae-yong, also known as JY Lee, has been acquitted of stock manipulation and accounting fraud charges.

The acquittal is related to a 2015 merger between Samsung affiliates, with the court finding no evidence of a crime.

Lee Jae-yong is a significant figure in South Korea's economy, ranking No. 2 on Forbes' list of Korea's 50 richest people with a net worth of $10.8 billion.

Previously, Lee had faced legal challenges including a conviction for bribing the former President of South Korea, for which he served time in prison.

Following the acquittal, Lee has taken on the role of executive chairman at Samsung Electronics.

Samsung has announced a five-year plan under Lee's leadership, aiming to develop next-generation technologies and create 80,000 new jobs.

The court's ruling on Lee's case could potentially affect foreign investors' trust in South Korea's legal system and financial markets.